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How much money do you have saved up?
- Thread starter br.avery
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sell a car
Hi megandylan,
One thing you must remember before you decide to sell your car is that you generally can get a lot more money by selling the car yourself than by trading it with a dealer. To get more tips on how to sell your car at a higher price. Make a visit to Autoselect.com you will get more details.
Hi megandylan,
One thing you must remember before you decide to sell your car is that you generally can get a lot more money by selling the car yourself than by trading it with a dealer. To get more tips on how to sell your car at a higher price. Make a visit to Autoselect.com you will get more details.
Let get this back on track.
What shocks me is how many people have less than 500 in savings. 500 covers 90% or so of all the emergency. If you look at when you have had some type of emergency come up (car repairs or home repairs) most of the time it cost less than 500 fix it.
Like I said earilier it is such a huge piece of mind having a very healthy savings built up. I do not have to stress over where the money is going to come from for example when my car needs repairs. Heck I wreck my car 2 month ago and the one thing I did not have to stress over nor did the though ever cross my mind was where is this money going to come from.
Like I said earlier I have an automatic transfer of 100 each week in to my savings. I never noticed the money missing because I never really have it to begin with. I do enjoy watching the savings account grow week.
What shocks me is how many people have less than 500 in savings. 500 covers 90% or so of all the emergency. If you look at when you have had some type of emergency come up (car repairs or home repairs) most of the time it cost less than 500 fix it.
Like I said earilier it is such a huge piece of mind having a very healthy savings built up. I do not have to stress over where the money is going to come from for example when my car needs repairs. Heck I wreck my car 2 month ago and the one thing I did not have to stress over nor did the though ever cross my mind was where is this money going to come from.
Like I said earlier I have an automatic transfer of 100 each week in to my savings. I never noticed the money missing because I never really have it to begin with. I do enjoy watching the savings account grow week.
That's awesome!
I know many folks who are 45-55 that have just a fraction of that saved up.
Yes, a very good score.
I have over $100K, but I believe it will "protect" me from what is about to transpire.
At least I hope so.
Oh, BTW, I owe nothing, to no anybody.
yeah but how long did it take you to save that $1300? i've only been saving for 4 weeks
Wel
For those who don't have this, when disaster strikes -- and it will - they go in a tail spin.
So very true.
I wish that someone would have taught me that when I was younger.
Automatic is the way to go. Just sit back and watch it grow.
Fantastic! I bet it makes you sleep easy at night.
This is a very good point as well. With a large savings and no outgoing (debt payment) funds, you can live quite cheaply if the need arises.Oh, BTW, I owe nothing, to no anybody.
However, if one has a huge house/condo/apartment payment, it is always waiting to be serviced each month.
That's wonderful that you've saved up that much money.
You might want to consider something cheaper. A car is expensive to maintain and own. You must pay insurance, taxes, registration fees, gas, and maintenance costs. At your age, a Mustang will cost you a fortune. Plus repair parts for that car is probably quite a bit higher than other more economical cars.
The amount that you saved, $8,500, which is a lot of money. Just look how long it took you to save that.
Maybe a cheaper more economical car to maintain would be a better choice. Plus you can keep some of those funds in savings where they will continue to grow and provide you an emergency fund if need be with car repairs.
im 19 now, but when i was 15 i saved up $4,500 (AUS) and bought my first MBP still got it now and am very happy with it.
me and my gf just went on a trip to sydney, and spent a whole bunch of our savings, but we put some aside for when we get back. our bank account probably only has $1k (AUS) in it. however we do have shares, and other bank accounts which probably total 10k, we are 19. saving for a house/car/whatever and only i am the one that makes the moneys.
still got it now and am very happy with it.me and my gf just went on a trip to sydney, and spent a whole bunch of our savings, but we put some aside for when we get back. our bank account probably only has $1k (AUS) in it. however we do have shares, and other bank accounts which probably total 10k, we are 19
. saving for a house/car/whatever and only i am the one that makes the moneys.Absolutely. The insurance alone is a killer. Check into the rates for that type car before you try and get it. My advice would be to get a beater, expect accidents, and plan accordingly. $8500 is a lot of money to spend on something that will most likely only depreciate. Still, you have to have transportation, but consider what else you could do with the money.
nice work! might i suggest not spending your savings all at once. only spend half of it. so at the moment the most expensive thing you could buy would be $1000, i find that really great advice. makes you feel better because you always have money left.
I've got about 78k between savings, checking, roth IRA, and some 15 month certificates. I lost 25k in the market before pulling it all out. Hopefully I'll be able to make some of that back, but now's just not the right time for my money to be in the market.
I work for an elderly lady down the road from me doing her lawn and snow. I get paid monthly with the amount depending on how many times I had to do what, and she throws in extra i think when I help her with the computer.
After the aluminum macbook was released I decided it was time to finally save. One problem, at that point all my money went to weed and food. I got caught by the rents so that stopped. Oddly enough you would think that the reason I spent so much on food was because of the weed. Not so, now all my money goes to food and Ive gained 15 pounds since then. In a way weed was keeping me healthy.
Anyway, knowing I have no impulse controll I instructed the lady I work for to start docking HALF my monthly pay to be collected at some later time when I felt I had enough money to make up the deal I made with my dad (I hope to pay for 3/4 of the laptop myself, but knowing him he will ask the apple employees alot of questions, and we'll end up leaving with the 2.4 and applecare in hand.)
Anyway long post short, I figure I have around $400ish saved up.
After the aluminum macbook was released I decided it was time to finally save. One problem, at that point all my money went to weed and food. I got caught by the rents so that stopped. Oddly enough you would think that the reason I spent so much on food was because of the weed. Not so, now all my money goes to food and Ive gained 15 pounds since then. In a way weed was keeping me healthy
.Anyway, knowing I have no impulse controll I instructed the lady I work for to start docking HALF my monthly pay to be collected at some later time when I felt I had enough money to make up the deal I made with my dad (I hope to pay for 3/4 of the laptop myself, but knowing him he will ask the apple employees alot of questions, and we'll end up leaving with the 2.4 and applecare in hand.)
Anyway long post short, I figure I have around $400ish saved up.
Like other have said there are a lot of other hidden cost in own a car.
I am going to guess it is going to be a 02ish model based on the cost and 04 at best. At that age there are a lot more in maintenance and repair cost of own a car.
My 04 car just this year has had roughly $1000 in maintenance and repair cost. I am looking at 300-400 to do some work on my brakes this year (damn Bremos). I also am looking at another 200 in replacing a broken sensor that is in the process of failing. I know my battery is getting close to replacement age so that is going to cost me a pretty penny.
On another top I had a nice example from Christmas that my savings really help me out of a jam. Boy Genies here went to pay his credit card bill that had all christmas shoping plus December cost on i though online bill pay and end up paying the wrong credit card. Problem is that card I paid by mistake had 0 dollars charge on it so now it had a credit on it larger than its limit and I still had to pay the other one off.
My solution to the problem was I pull money from both my short term savings and my money market account to put enough in my checking to be able to float the near $2000. Let me tell you it is not fun having to pull money out of savings to cover a bone head mistake.
Only nice thing about it is I really am not going to have to pay any bills for the next 2 months or so as everything will just be pulled out of the credit I have. Not it was having my savings that saved my but on that since I could afford to float the money.
Also the slow savings thing like I showed earily is a nice way to slowly build up ones savings. I am going to need that savings in the next year or so because I might have to buy a rather expensive ring with a diamond in it.. I want to replace my car and at some point I want to be able to buy a house. Easy way to do all of those is slowing save money over the long period of time.
As for saving money best way to do it is keep diverting funds into savings until it starts to hurt a little. It starts to push your finances a little and allows you to save up money.
And youll be blowing through roughly 1/4th of the cars value in insurance a year.
Sports cars + teenagers = insurance nightmares.
I think you can just have Teenager = insurance nightmare.
Depending on the company some do not really look at the car to closely. They just look at drivers age, sex, history, and car value (if full coverage) to determine the rate. Every now and then they factor in the car.
Some insurance company classify my Spec V as a sports car. Other put it as a Sentra.
Either way just a teenager I believe my sister who is under the age of 20 rates are 170 a month (one wreck) this is a far cry for me who is 25 no wrecks at 80 a month. Same coverage. I remember my rates 7 years ago where at 120 month liability only with no wrecks. It is not cheap.
You are a teenage and worse you are under the age of 18 so you get slap with even higher rates. Rate drops for me were at 18, 21 and then 25. You are looking at 150-170 a months for that car. NOT CHEAP.
Oh believe me, when a teens involved they look at EVERYTHING. Yes teenagers = higher rates for being teenagers, but then they throw everything else they can on you. Sometimes even the color of the car matters (apparantly red, yellow, and black are "racing" colors....)