I keep on seeing time and time after again young blokes buy sports cars some if not most TT owners. Only to see them spend thousands of their hard earned dollars, high insurance and eventually losing their licence to only sell their cars less than 2 years. These people obviously live with their parents and have no mortgage or financial responsibilities but to their money pit cars. From someone with a financial background, start saving your money and start with basics. Some of us will start to feel the pinch if not already financially, America is in their worst financial state then ever encountered, we will eventually follow suit. Start saving
Started to tighten the reins about a month back, not that its had any effect tho...... The prices are going up fast and the income has remained the same....... "play money" is very limited at the moment on our budget. Fuel prices seem to be driving everything BUT our cars I'm probably one of the lucky few.... I own my home outright, but bringing up kids that range from 16years to under 1 has our budget stretched...... I'd be stressed to the max if I had a morgage / car repayments aswell :bash:
I love my money pit :biggrin: I'm young, I live at home, I earn quite... good... money. I try and put a bit away whenever I can, getting a little portfolio of shares together. My mum wants me to buy a house, but I'm a little nervous about that in the current market. Don't really want a $450k debt hanging over my head just yet... What's your opinion on the housing market? Do you think there is a chance the bottom will fall out of the market in the next few years? I can't see how it can self support.
im about the same as u - except i dont have my money pit anymore lol ...and forget buying a house - not at the current rates/prices :bash:
well i'm 18..have over 24 grand in the bank and earn over $1200 a month so i think i can afford a z..i never spend any of my money besides going to the movies with friends every,getting to uni and keeping my current car on the road..but i've decided to put of buying a z for a while until i find one that is perfect and i can save some more money
Something a financial advisor once told me . " Only save if you are saving for something" saving for the sake of saving is pointless
The 10% rule for saving is always a good idea. Even if it is going towards things like a uni debt or something else. and your total basic costs per week shouldnt exceed 30% of your weekly income after tax. There is always something to save for, even if it doesn't seem like it.
hmm, well as an employee of a financial planning and mortgage broking company, i spend most of my hard earned cash on my zed, what doesnt go on the zed goes towards paying off the ridiculous amount of debt i have (read only just meeting the interest payments) and developing the properties, and what makes you think that because you are 10 years older that you have every right to spend all you have on your zed, you could still be saving for a better retirement
i saw this thing on a " money crisis " on tv yesterday , what a load of crap . yes every thing gets dearer but every one that i know atleast keeps getting paid more too . its really only problem for people who had already spent more than they could afford . Theres really no need to start saving when your 18 . for some people that stuff isnt important , my words of wisdom would be " your better off getting a small loan to get a good car that wont break and cost you more than getting a cheap shitter that costs as much in the end and still is a shitter "
Ill second that, i first bought a 1995 holden commodore for 700 bucks, have had nothing but trouble with the thing, exhaust snapping in half and throwing me sky high, accellerator pedal falling off... etc etc..... im now getting a loan, and as old mate said, us young kids do have little to pay when living at home, so why not make the most of a good opportunity, just because you have a nice car, doesnt mean you have to be a dickhead in it... if you Drive it like you OWN it... Then when it comes time, you allready have a good credit history, a nice car, and most probably some women haha
im 20 (nearly 21yay) and i live on my own, but i stay in my dads unit...i work and study full time...its hard spending $$$ on the zed while your paying off bills, food, fuel and other general things...i have managed to save some money but i have spent like 10g+ on like bills and household things in a like 1yr and a bit...but i just say, save bout $50-$100 a week (for a student more if your older) and you shouldnt be tooo bad...i only make bout $400-$600 a week...what i hate is when you see your money go, so depressing PS: own a TT and im sort of feeling the pinch of the fuel prices, i spent like $150 on fuel last week, but i did drive heaps...lucky i work for coles, i get free fuel dockets...hehe dont tell anyone
im 18, live on my own and have a TT zed.... and i only make between 3 and 4 hundred a week..... and your right i cant afford it untill i get my new job then the zed will come back out of the shed
Balance Its about balance Have a good time AND save easy as that. As for the property market... as they say "its never a bad time to buy" Thats not entirly true but bacially... it will always go up. It just may take you longer to get there. But since when was a house a 2 year investment? NEVER. Its a long term investment. Anf if you see it as that and are happy to sit tight for 10 - 20 years, it will always go up. Those (like myself) that moved to Perth just 5 years ago were just abnormally lucky. $140K mortgage for a house currently valued at $600K But that said... only reason im where i am today is because I married a screwdge of a wife who saves like crazy and spends as little as possible. We're a good balance. To be honest, i didn't even realise we'd saved enough for our first house deposit until she said "yeah we can afford that" Im a spender, shes a saver. Balance.
haha my ex was like that, well untill she talked me into gettin a loan to buy her a car... fat lot of good that did, bought her a car, week later, she kicked me out, car in her name, leavin me with nice 10gs debt. bitch... as for me, im 19 living with parents, and im a shit saver, i get $2500 a month, and still have nothing to show for it, i spend most of my money on fuel (about $200 a week) drivin to Joondalup to see my new missus, i shud just use the train seeing as its free, hate leavin my zed at home :zlove: . Ive now realised its time to start saving, need to get a deposit on a house sorted and all that. Will
Im young with a two zeds, Im a full time student, and have a casual job. Live on my own, and I do fine, if your responsible you can manage I believe.
wow dont take this the wrong way but i have to ask.... did YOU buy the cars? or your parents? Or do you have loans for them?
My parents bought the house I'm in, but no I bought the cars from pure saving, one of them from my bro so Im paying him off slowly slowly! Plus I worked as an intern all of last year with the government in online fraudulent activity, lol So got alot of dosh from that.
have fun When you are young, i bought my z tt when i was 18 and no my parents didn?t buy it, I bought the car in cash, it was the best thing i have ever done. In that time i had to replace my engine and tranny so you can imagine how fun it must have been Anyway the moral of the story is that you can do whatever you want as long as you finish uni and get your self a good job Income beats saving .............
