10-18-2012, 09:10 AM | #71 | |
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10-18-2012, 09:15 AM | #72 | |
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10-18-2012, 09:20 AM | #73 |
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Good rule of thumb is get a car that is a maximum of half your yearly income and a house that is a maximum of double your yearly income. Or if you like not worrying about money get a car you could pay off in two months and a house that is less than your yearly. The peace of mind of being stable is a huge point towards waiting on getting the car.
All that being said you are only young once... Why wait to have fun when you are old and can't? EDIT: That is not a huge amount for an xray tech really. I bet he works shit for hours though and lives in a less than desirable area. My gf's brother is a CRNA and makes just over 200k because he was willing to work in shit-ass El Paso and parts of New Mexico. That same job in Houston would bring maybe 80-100k |
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10-18-2012, 09:30 AM | #74 |
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First and foremost...don't give a sh!t what other people have. Even if you had this car you would start looking at how to get something bigger, faster, more luxurious, etc. It's the findamentals of greed...it's why people work.
Def. look at the military - you should consider sitting with a recruiter and learning more about the graphics teams they have. Ah college...you're late to class you park anywhere...students with the old civics won't stick around if they bump your car. Should it snow on the day you have your exam the stress of getting there will ruin your concentration. Not to diss your mom...but she needs to buy her own car...adults need to be self-sufficient...supprt her now it'll be a life-long issue *2 cents* If you're not interested in a Miata I found alot of Audi TTs used when I was trying to find alternatives to buying this car. Some good prices, especially if you're going to mod it. |
10-18-2012, 09:31 AM | #75 | |
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Lots of people work their fingers to the bone and drive boring penalty box cars because society says they should. Screw that. I'm not waiting until I'm old to enjoy life. I can still save for my retirement AND own a fun-to-drive car.
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10-18-2012, 09:38 AM | #76 |
Eyy girl's like cars too!
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I graduated in college in 2010 and am paying off most of loans before I ever buy a new car. It seems impossible but I am staying committed and doing what is necessary. I feel good doing this though I am skipping out on extra "fun" spending. Once you get your real job after college is when you should shop around. That's when you'll have money to play around with. In my case I am paying off debt. Yours? Whatever you want! Just my opinion but I know at the end of the day, this is the responsible and smart thing to do
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10-18-2012, 09:42 AM | #77 | |
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10-18-2012, 09:55 AM | #78 |
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Here are a few data points for annual earnings to help you:
NCES Digest of Education Statistics, 2010 -Bachelor's Degree: $56,570 -High School Graduate: $32,270 NCES Digest of Education Statistics, 2011 -Bachelor's Degree: $57,130 -High School Graduate: $32,500 These can be broken down further, and can be reserached on the website (http://nces.ed.gov/programs/digest/2011menu_tables.asp) Having said that, it's not always about making the most money. Personally, I'm a proponent of joining the military to help pay for your college. Not only do you get the GI Bill, but you can get all your tuition paid fo while on active duty, keeping your GI Bill for later. In addition, you may qualify for Pell Grants, which are loans you don't have to pay back. You can apply for them even if you're not in the military, though. I have a son in culinary school right now, using my GI Bill, and another 4 years behind him, so I'm keenly aware of the pros and cons of secondary and post-secondary education. Disclaimer: I'm active duty Air Force with 19+ years of service. I entered with an associate's, completed a bachelor's and master's while in the military (didn't have to come out of pocket for either). As for me, a bachelor's degree DID make a huge difference in my potential earnings. I went from a SSgt to a 2d Lt (doubled my pay initially), and you can Google military members pay charts to see the differences. |
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10-18-2012, 10:43 AM | #79 |
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Here's the deal, cars are a terrible investment. I would spend the money to go to school first and then worry about buying something new. For much less money you can get a used reliable car, will it be flashy? Probably not, but trust me, it doesn't really matter.
I've had over 40 vehicles, from Hondas to BMWs to Porsches. Guess what? No matter what car I had it didn't really have an effect on my happiness. |
10-18-2012, 12:21 PM | #80 | |
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10-18-2012, 12:30 PM | #81 | ||
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what else? ehe! he! he! Quote:
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10-18-2012, 12:38 PM | #82 | |
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if they was so satisfying,then why did i get rid of them? not to mention the money "lost" trust me,its just a temporary thing! if you look at a car as transportation only,it is easier to put in the correct context!..just sayin' save your money,and put your money to work establishing your education,and career! |
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10-18-2012, 12:57 PM | #83 |
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i was in a similar situation when in college. I cam from a family of 5, single mom, working 2 jobs. I was in school doing 18-23 hours per qtr. and working 40-50 hours a week (I had no social life). I bought a brand new mustang, modded it out etc., graduated and bought this.
If I could do it all over again, I wouldn't change a thing.I am now married, wifeand I have no mortgage, just 2 car payments and student loans (homes are cheap, especially in the midwest). NY is a lot more expensive than other areas. I would say take your time and see what will make you happy. School and family should ultimately ome before any material object. |
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10-18-2012, 01:19 PM | #84 |
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Ok I'll comment since I am close to your age. I am 23 and just graduated 10 months ago. I was hired before I even graduated so I already have almost two years experience. I've had 4 car loans already and the frs will be my 5th. I've never been upside down on a loan on when I bought the newer car. I also never put money down. I finance the maximum term to get the lowest payment because honestly I probably won't have the car that long (6 year loan). My credit score is over 700 and i make a tad more than you a month after taxes but only a couple hundred. I've never been late on a single bill in my life and I've lived on my own since 18. I also have college student loans. Now the college aspect i feel everyone should do asap. Work during college its not that bad. I've worked 40 hrs and went to school full time taking up to 18 credits a semester the last three years of college. My freshman year I worked part time at AutoZone. Yeah its a bitch but worth it in the end I think. Take the loan out and as long as you are in school you don't have to pay it. Plus you get a 6 month grace period after graduation. Once you graduate get a better paying job and start paying off those loans. I majored in finance if anyone was wondering. And honestly the moral of the story is. Does your income outweigh your expenses. Also take into consideration your free cash flow. Will you have enough to do what you want to do. If all those aspects are aligned pull the trigger. Maybe while your at it help your mom arrange her finances therefore you don't feel as guilty.
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