Quote:
Originally Posted by Longhorn248
I took a wild guess at your monthly numbers. I basically took your monthly average take home and subtracted your expenses. If I had a better idea of where you lived the rent and tax rate would be more accurate. Obviously plug in your own numbers. With this you'd have about $400 left to cover entertainment, vacations, mods, and savings for a rainy day fund. If that makes you comfortable then go for it. If it doesn't then I'd hold off.
Gross Pay............................................... ..43000.00
Gross/Week.............................................. ....826.92
Monthly Avg. (4wk/mo)...............................3307.69
Monthly Avg. Take Home (25% tax rate)......2480.76
Savings (5%).............................................. .-124.03
Rent+Utilities.................................... ...........-800.00
Insurance......................................... ..............-80.00
Gas............................................... ...............-100.00
Food ($3/meal for 30 days)..........................-270.00
Cellphone......................................... ..............-50.00
Student Loans ($29k national average).........-300.00
Car Payment........................................... .....-350.00
Remaining .................................................. ...406.73
Creating a monthly budget is fairly simple, they really should stress this a lot more in high school.
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This is actually fairly close. I really don't spend much on gas. I think I put about 40 in a month. Utilities fluctuate pretty heavily. I have propane heat in this house and it can get expensive during the winter.
Thanks for all the help guys. I sort of had a feeling it was out my price range, but now I know for sure. In the end, by the time I can afford it, maybe the car will come stock with a little more power (not that I am too concerned about that anyways). I really do not want to lease.
BUT, I do need a car, something I can rely on for longer trips. I really want something that is at least fun to drive in addition to being reliable.