Quote:
Originally Posted by towch
I am a 28 year IT professional work as a Systems Admin making shit money for that position. I make $53,000 per year before taxes. I have student loans which currently sits at $28,000.Student loan payment began in January. I make payments first of the money every month @ $300/month. I plan to deposit my year-end bonus and 2017 tax return to student loan payment.
Seeing as I don’t plan on getting married or having children (open to a kid if I am making stupid money), getting a house has been pushed way back in my future. Living in my studio apartment is good enough for me. I try to save as much money as I can’t while also trying to enjoy life a little (treat myself here and there, nothing expensive).
As of today, I currently have $39,000 in the bank, this really gives me a sense of security and peace of mind. I sometimes struggle with the idea of paying of my student just like that but I cannot bring myself do it. It is a lot of money for something that would bring me no pleasure. On the other want buying the 2017 BRZ I assume will bring me please but then I suspect that my peace of mind would be out the window.
My cut of mark for money I prefer to have is $30,000 so that gives me $9,000 cash if I was thinking about getting the car. I drive a 91 mr2 turbo, I at this point feel I have spent enough money on that car I feel I’ve had enough of it. I however would prefer to buy the car cash or very close to complete payment. Thus why I haven’t pulled the trigger.
For now I keep pushing it and saving up more money, hopefully I can win the lottery or scratch haha.
Well, I just wanted to share my story. Maybe this will help people in similar situation knowing you are not alone.
I am also taking advises on my debt and car ownership
Thanks!!
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I was/am in a similar situation. Thank you for bringing up this topic! It resonates with me and I am sure with quite a few people on this forum as well. BRZ/86 being an inexpensive, impractical sports car, the targeted audience inevitably faces similar financial situations. Not convinced? There is a video on YouTube showing wife reactions to guys buying an 86:
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I've been thinking about getting a BRZ in the last 3+ years now. Only recently I made myself create an account on this forum to start posting and asking people how much they paid for theirs. Why I have waited so long and so patiently? I make enough $ to afford a BRZ comfortably but I put other priorities first e.g. paying off my student loan, buying a house, paying my parents back for their down payment help, putting my son through pre school, saving for retirement, investing for future, and putting aside enough $ in a rainy fund. I am turning 30 this year and I am using that excuse to buy myself a BRZ with PP.
I am impressed by the quality advice offered by this community! Thought I was reading some serious personal finance forum for a minute. Almost every point I would have made has been pretty much covered. I am just going add 2 more points here:
1. PenFed offers 0.9% auto loan for 36 months. Email all the dealers in your area for the best price, let them fight for your business.
2. Please don't take this personally but you are underpaid for being in IT. Assuming you have a degree in computer science or equivalent, you should get paid much more, easily 6-figure. If you are interested in working for a Fortune 15 company, drop me a PM and I can refer you.
Good luck!