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Old 06-26-2014, 10:18 PM   #15
1Cor10:23
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Lol, spare some change buddy?


I have to agree with many of the opinions above. With some caveats. For example if you can, buy a house. Don't look at it as a reckless choice but as an investment. There's never been a time with such promise for the housing market. If you're young and it won't bust you get that FR-S. Keep it. Drive it into the ground. Enjoy it. Who knows, someday you might be able to take your grandson out to the garage of the home you bought today and say "There it is boy, a first gen. FR-S." Then watch as his eyes pop out and he says back "WOW grandpa, sure glad you didn't buy one of those pos BRZ's."
I greatly look forward to experiencing this day! Slightly related - took my younger brother (10 years my junior) for a ride. He had his eyes closed for more than half the time. Oh how far the apple has fallen...
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Old 06-26-2014, 11:04 PM   #16
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I greatly look forward to experiencing this day! Slightly related - took my younger brother (10 years my junior) for a ride. He had his eyes closed for more than half the time. Oh how far the apple has fallen...
Bet he dug the hell out of it and will always remember that day.
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Old 06-27-2014, 12:56 AM   #17
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Debt is truly the antichrist.
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Old 06-27-2014, 03:51 AM   #18
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first and foremost, after college I will not touch my car untill I have no student loans left, no matter how long that takes. Until I can afford the replacement parts if those parts break, then ill start spending my money in larger volumes. Im not exactly one of those guys that would buy all the parts in one night and spend a good chunk of cash doing it. It would have to be an on going labor of love.

"Oh hey Chris whats the car part for this month?"
"Oh I dont know [insert potential coworkers name here] maybe ill lump two months together and buy a Cusco 4.556 FD and skip next month."

I see spending money as a journey more or less with any large things in life. Like a car, its going to be an on going experience, why get it all over in the next week, or month? Why not space it out so you can savor the experince of it? Why go into debt when theres alot better ways to stay finacially stable while still being happy?

I guess it has to do with parenting and how the people were raised with the dollar. My dad made me work hard for my first few dollars.

TL;DR
My dad made me work hard for my first few dollars. He made me appriciate it, so I feel less likely to give it up, so I inherently value the things I trade my money for, more.
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Old 06-27-2014, 03:59 AM   #19
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first and foremost, after college I will not touch my car untill I have no student loans left, no matter how long that takes. Until I can afford the replacement parts if those parts break, then ill start spending my money in larger volumes. Im not exactly one of those guys that would buy all the parts in one night and spend a good chunk of cash doing it. It would have to be an on going labor of love.

"Oh hey Chris whats the car part for this month?"
"Oh I dont know [insert potential coworkers name here] maybe ill lump two months together and buy a Cusco 4.556 FD and skip next month."

I see spending money as a journey more or less with any large things in life. Like a car, its going to be an on going experience, why get it all over in the next week, or month? Why not space it out so you can savor the experince of it? Why go into debt when theres alot better ways to stay finacially stable while still being happy?

I guess it has to do with parenting and how the people were raised with the dollar. My dad made me work hard for my first few dollars.

TL;DR
My dad made me work hard for my first few dollars. He made me appriciate it, so I feel less likely to give it up, so I inherently value the things I trade my money for, more.
Did your dad buy the car for you?
1st year in to college so you must be rather young?
Not bad at all actually, seems like you got your head screwed on although paying off student loan sounds like it'll take awhile.
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Old 06-27-2014, 10:53 AM   #20
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My problem is that I like nice things. I'm older now (33) but I was definitely stupid with my money growing up. You live and you learn, most people are never taught how to manage money correctly, so when they get a job they're suddenly "rich". If they weren't saving before, they probably wont now.

That being said, it's not impossible to recover, I have done it several times in my life where I've had to step back and take a hard look at my debt and what I've been spending my money on. You force yourself to go through a lean couple of years but it's doable.

I'm a lot better now, but I still spend way too much money on stereos, video games and car parts. I make a reasonably comfortable living so I should be able to treat myself every now and again.
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Old 06-27-2014, 11:21 AM   #21
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I am only 23 years old and easily have spent most of my earnings on cars since I was 16, probably around $100k. Luckily I still managed to buy a home at the age of 22, and have owned a couple of really nice cars due to budgeting myself well.
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Old 06-27-2014, 12:34 PM   #22
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I am only 23 years old and easily have spent most of my earnings on cars since I was 16, probably around $100k. Luckily I still managed to buy a home at the age of 22, and have owned a couple of really nice cars due to budgeting myself well.
I have a close friend in same boat, the difference is... he is a drugdealer.
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Old 06-27-2014, 01:13 PM   #23
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I have a close friend in same boat, the difference is... he is a drugdealer.
I make my money legitimately.
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Old 06-27-2014, 02:05 PM   #24
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Did your dad buy the car for you?
1st year in to college so you must be rather young?
Not bad at all actually, seems like you got your head screwed on although paying off student loan sounds like it'll take awhile.
2nd year in college coming up on 21, me and my dad split the bill. That was the deal we made if I wanted a new car. if it seems my student loans will take forever, itll depend on what kind of job I have and other underlying circumstances when I start spending my money on the car.

First things first; apartment, utilities payments, student loan payments, gas money, rent, all that splish splash. Me and my girlfriend arent very keen on getting a house until later on in life, about 30 or so, that way morgage payments coupled with everything else dont kill us, provided we've found good enough jobs first. Shes going to be a nurse.
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Old 06-27-2014, 02:23 PM   #25
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2nd year in college coming up on 21, me and my dad split the bill. That was the deal we made if I wanted a new car. if it seems my student loans will take forever, itll depend on what kind of job I have and other underlying circumstances when I start spending my money on the car.

First things first; apartment, utilities payments, student loan payments, gas money, rent, all that splish splash. Me and my girlfriend arent very keen on getting a house until later on in life, about 30 or so, that way morgage payments coupled with everything else dont kill us, provided we've found good enough jobs first. Shes going to be a nurse.
Buy into real estate as soon as you safely can, no point putting money into rent when it could be paying off an asset and its interest.
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Old 06-27-2014, 02:32 PM   #26
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Buy into real estate as soon as you safely can, no point putting money into rent when it could be paying off an asset and its interest.
I will qualify that statement by saying "buy into real estate as soon as you can, once you're reasonably sure you're going to be in that location for a long period of time."

Buying a house around your girlfriend's college will only be good for you if you guys get jobs around there. You might need to move around a bit, or across the country, to find the jobs you want. Buy a house once you're settled into a particular location.
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Old 06-27-2014, 02:57 PM   #27
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Buy into real estate as soon as you safely can, no point putting money into rent when it could be paying off an asset and its interest.
I don't know about that, real estate is typically an extremely leveraged position. It's only a sound investment if the interest rate is low enough and the market isn't too hot. Also depending on the house and area, rent can be cheaper than paying mortgage + property tax by a fair amount.
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Old 06-27-2014, 04:16 PM   #28
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I don't know about that, real estate is typically an extremely leveraged position. It's only a sound investment if the interest rate is low enough and the market isn't too hot. Also depending on the house and area, rent can be cheaper than paying mortgage + property tax by a fair amount.

In terms of ROI, a mortgage regardless of amount is a better decision than rent.

On a budget/what can I afford, that is subjective. I totally understand having to go for cheap rent because you can't afford a mortgage or can't get approved to finance a home.

But you will never get any return on rent.
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