Wow.

I am about to close on a house with 4 bedrooms, 1 bath (), detached garaged, okay sized yards for $85,500. Housing is cheep in western new york. That being said, I'm also making less than half of what I could elsewhere. Oh well.

 

I go to school full time, work the weekends, have no bills except for cell phone($50), garage($80), and insurance ($560- yearly, liability for the 94, and $1400- yearly, full coverage for the 98), I usually come out with $500-$600 cash every weekend, therefore making way more money than I can/tend to spend. I still have enough money saved up NOW to buy a body kit, CAI, Y Pipe, supercharger, lower it and every other bolt on but instead I went with a few selected items that I can either use on my next car (HID) or take out easily and sell when its time for the newer car (Corners, Tails, AE ****, Direct BOSE Changer). I just think all I would be doing is making my car so much less appealing for a potential customer than the way it is now
(Almost stock). I know I'm missing out on a huge performance/ speed/ different driving feel, but I plan to get that without having to modify my next car (98 GS 400 or 540I). If I unload my 94 and 98, I'll be ready for the next car within 2-3 months, but instead I'll probably wait at least 6 to really get comfortable.

 

Move to Oklahoma. for $300k you can buy a 5 bdrm house with a 3-4 car garage/ attached or detached whichever you prefer.. an acre or three of land, and you'll still have change for a pool and mods on the car.

 

You know what doesn't make sense, one of my close friends at work has 3 senior telecom analysts reporting to him. They are all Lucent or Avaya G3r trained, over 15 yrs experience, with expertise in IVR. None of them earn more than 80k. I know because we talk about staffing and he wants to cut one of them because not alot happens these days in the voice world. So how would one buy a 54k car on a 80k salary? That doesn't add up. The only thing I can think of is help from parents. Hey, I'm +/- 1 yr of 26, and I'd love it if my parents helped me. They do all the time, just not financially. But it matters where their hearts are.

 

Well, it all depends where you find work and what your skillset is. My background is 6 solid years of telecom/high end router/switch/firewall/security experience. I dont require the assistance of my parents at all. I'm making very close to triple what your friend is making, so that makes a huge difference. You may think I'm lucky, but I've worked my a$$ off to get where I am now.

GC

 

Wow here in Riverside(SoCal) you can get atleast a 6 bedroom 4 bath 3 car garage for $300k. I thought it was cheap out there, and really expensive down here.

 

well what's the square footage on that house?

I was just rambling off numbers anyway..
you go near downtown, and you'll get 1750sq ft for $175k if you're lucky..
move 10 miles out, and you can get the same thing for $75k.
for $300k, you can buy a shload of house.. 4-5000sq ft and tons of land.

 

Not sure, I was just rambling as well. We bought our house about 2 years ago. It is on 2200sq ft of land, the house itself is 1750sq ft. it is a 3 story style, ranch house. 3 bedroom, 3 bathroom, we got it for $85k. But, I always thought you could get like 10 acres out there for like $50k??? It just must be because I am a city boy...

 

both my wife and i are in the military and we have a really good budget, shes a financial analyst so that helps....we had a 2000 pathy but gas was outrageous on that thing... so we opted for 2- 99 maximas she drives the GLE i drive the SE-L 5 speed, so military isnt bad money you just have to know how to make it work for you!!

 

What is high end? My friend is a network manager, has a MSEE and CCIE (internetwork expert)so he has the degree and the certification. How is it that you make triple what he does when I don't know what he makes? All I know is that he is house poor, because he just bought a beautiful one in Marlton NJ, and supposedly some Eagles live in the development. I'm planning to also get a nicer home but the rates have come off their bottom. I'm hoping that the fact the rates are up about 0.3 this week will cause the asking prices to come down a bit, because sellers have been asking outrageously high prices and getting them too.

I merely said he acquired the voice people when the company did the convergence in 1999 and he told me what they make because he needs to cut one of them. Triple?

IMHO I don't know where you're coming from but you made a comment that you have 1700/month worth of cars. To put that into perspective I believe you could lease a Bentley for a little more than that. I'd also be curious to hear what journals you read in your field.

 

It's really hard to second [or third] guess people on the web. He could very well be making 2-3 times whatever that other number is, but if he lives in, say, NY City...so what? Good money on paper is very often, just on paper. But if he's not planning on buying a house or starting a family, then he could be making that much. Cost of living varies from place to place.

In Addition, he could be figuring yearly bonusses etc, which people count as salary. You just never know. In any event, I applaud him.

*I wonder if his company's hiring*

 

LMFAO!!! I'll take this to PM, as it is OT.

GC

 

Please disregard the PM I sent you, I meant to send it to the other Frank

GC

 

and you keep saying you're going to sell it. I see it's still here. Mom and dad are great. I wish mine could pay for stuff for me. I asked my dad for money once, but since he bought his wife and all this stuff for her, he couldn't afford it. Actually, my grandmother just decided she wanted to give me some money...I'm not going to say no this time.

 

 

My dad works all day from 9 am to 11,12 or 1 am.When i got my license, I started driving his 94 Mercedes 400 E around, but being a high maintenance car, my mechanic was one of my closest friend and since I don't work, my dad was getting fed up with the maintenance expenses on the car and decided to get a new car. My mom has a 99 Altima and since we were happy with the reliability of the Altima, we chose the 2002 Maxima, I loved it, until some truck driver hit it last week and if it's considered a total loss, I will be getting another 2k2, this time a 6spd though.

 

Yep, I'm 26 wife is 27. We're both enlisted with the USAF(*read*loser nobodies). We don't make crap, but I'm retiring in 12 years (her in 13). Once I finish my B.S. I can move up into the officer ranks(*read*more money, still a loser) and hopefully retire with $3-$4k a month. My wife's retirement check will be closer to the $1.5-$3k mark. Decent money, but will be real nice once we start our 'real' jobs in the civilian sector. Whoo hoo.

Oh yeah, thanks to the strong economy(at least it used to be) the military gives each of us a $60k bonus every 4-6 years. That helps to supplement our 4 cents an hour income.

Zam

 

yeah its called if we find a good job we are young so we have very low over head so what ever money we make it will go into the car. and not raiseing a family, buying a house paying all utility bills just one way or another us "kids" have more money to spend then an adult with a lot of fanancial responsibility.

 

I'm 27....I certainly still don't feel like an adult.

But I see your point...I have rent/utiliies/food/commute.

But I'm still buying a S/C!!!

 

How to afford stuff 101.

Start early and live debt free. Always pay for everything with cash (except your house of course). If you can't pay cash...make double payments and save money on the interest.

I don't make 200K a year, but I still made enough to pay cash for my new 2K2, AND live comfortably.

Its not impossible.

 

 

Such good advice, and so simple. But because I'll be the first to admit that we are taught less and less in school, at least in public schools, I think everyone needs reminders, and maybe proof. I was a star in my public school system, straight A's, mr jocko letter-man. Guess what? When I got to college I was in for a rude awakening. C to C- average 1st year. There were kids from the NYC public school system who already took these classes or the equiv in their 11th and 12th grades! Lucky the flunk-out rate was nearly nil. Once you get in, the school does it's darndest to keep you in. 246 years of tradition I guess.

Let's prove what you say about paying down debt--any interest calculator on the web or spreadsheet will show you the light. Say you buy a 200k home--you're gonna borrow 160k and put 40k down--6.7% interest, zero points.

Payment = $1034/month. 1st payment is only $138 towards the principle, the rest is interest. Painful yes, but you can deduct it. The $1034 is affordable by a college graduate with his/her newly minted BS or BA and 1st job. Problem is many college students will not have the 40k downpayment. So strive for it, it's really doable in 2-3 years. At age 25, you'll be buying a 200k home. Again, as long as you're not in NYC, San Fran, Boston, LI, it can be a decent starter home. If you can make more than that $1034 per month, you're attacking the fact that the early payments are like $895 in interest alone. You want your excess payments to kick your principle in the butt.

I'm trying to show those still in school that sinking your money into your first home is doable, by 25. If you buy a 27k car, how far does that set you back as far as having a downpayment on the home? Severely. To be realistic, that car payment probably equals your property tax on the home. So with the new car, you lower your standards on the home. Suddenly you're looking at 140k homes and not 200k ones. I wasted my 1st year's salary in partying-up, didn't even get a nice car. Dumb ***! But we all learn. And the truth ultimately is, if you don't care for a house or saving money and a fancy car makes you happy, then get it. You can't take it with you, so to thine own self....you know

 

Or drop out of college like I did, get a 4-year head start, and be making more than any person just out of college (Well, most persons) by the age of 23....



Thank God computers exist, or else I'd be in serious trouble!

Seriously, that was good advice!

IanS

 

yup
This is what I live in now. My parents bought a 3 bedroom, (1 normal size, 1 okay and 1 like a ****ing jail cell..) semi-attached, no garage, roughly 20 sq/ft backyard.. It was roughly 265k brand new 2 years ago, now my neighbors 2 doors down are selling their identical to ours house for 360k... This is in Great Kills area.. Damn high cost of living out here...

 

As for my story...
Going on 20, full time student.. ALL of my savings went to the previous maxima i got in 2000 and after selling that one, the rest of the money went into this one. My bank account looks like this-----> XXX.XX$ , luckily the car is insured under my father so the cost isn't as high as it would be for me individually. I work 2 jobs part time, weekend evenings and nights and I still just do not have any $ left over for anything. Meccanoble, i am with you here.. I don't remember the last time I actually shopped for clothes. My car does not have any real mods so there is the answer to how I can afford all of them. In nearly a year of ownership, I just got some 2k1 rims, clears, fogs, did the rest of the little things myself, like the red/clear tails. Free-mods own me I am always looking for better employment opportunities to work around my college schedule, had a decent job that allowed me to work a good 25-30 hours a week and around my classes but because of WTC thing they had to 'cut back'. Anyways.. I live with the parents, thankfully no bills or food expenses, although the other little things add up and strip me of all the potential "mod-money". With a 200k income, I'd buy myself a nice little condo, nothing fancy, invest a lot and spend the left overs to live fun and I don't need much considering a full tank of gas is agood % of my weekly salary

 

I stay single, thats how I afford to "live"

 

I graduated from high school in 01',I work 40 hours a week,bought max one year ago, bought house in december, i have about300-400/month to wasted on car stuff... I make under 40k/year. so i dont know how they guy with 200k/year cant afford anything.

 

Wow...you live in North Dakota or something?

 

wow that sounds familiar.. I'm 19 too and cuza my Max i havent been shot yet all I do now is

 

haha I know houses in my area are 500K plus... 400k for a darned 1500 sq ft 2 bedroom townhouse...

 

200k and you cant mod!!!! Man I thought I had some bills.Its good that you got your priories straight though.My priorities are different I can't pull 40k to save my life but my wife and I can pay our bills and still have money to play with.It helps that shes a car junkie and that we live in a cheap part of the state too.

"Any woman that wants a turbo for her wedding present is a keeper."

 

Close, i live in rural MN there are 550ppl in my town, can you say fastest car in town?

 

Alright alright... I can afford to mod the Max... but slowly

I just put the 18s, the FTSB, the Stillen intake, the Hakka winters, tints and various other aesthetic crap on there... and if you include the $4000+ i've paid in insurance deductibles, speeding tickets, POINTTS lawyers, repairs, window replacement and laptop replacement and other **** I've spent on it, I'm sure I'd have a mighty nice car... assuming all that money was used for good, not evil... lol

Oh, and my wife and I are paying $4000 a month to reduce her student loans to ZERO in two years!



Mike

 

overtime money! anything over my normal pay goes to the maxima fund

 

*ahem* I believe thats where your fun money's goin!

I paid for my car w/o any help from family, I found a steal on my car and I proceeded to mod it with more money I earned and saved. honestly I dont know where alot of it comes from but like when I really wana mod the car I come up with the money somewhere

and I've put ALOT I mean ALOT into the car

 

Im 22 and i got my max 2 years ago, back then it was 16000 I had 4k saved up and sold my blazer for about 6, then i took out a load for the remaining 6 grand. So now its only 150 a month for 2 more years, Not bad id say, but with that school and insurance, the modding is going damn slowly.

 

Then the fun starts!

 

I can understand that $200,000 a year doesn't go that far. I am currently making $500,000 a year and can't afford mods for my car. W/ 4 Ferrari's and 1 Lamborghini, i have no money for the max. LOL, j/k. I'm in college taking 18 credit hours and working 25+ hours a week. Saved all $ in HS driving a 1986 Volvo Station wagon w/ 200K miles + and soph year in college dropped the funds for the Max. I really wanted a 300zx turbo but no dice. Parents insisted on not getting a sports car. Funny rule expecially since they dont pay for $h!T.

 

not when you are 18 with beginners credit and 4 monthly bills