How much money do you have saved up?

[Rodimus Prime]

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....)

the color part is a myth. Some people think that they do that but reality is they do not. It just happens to be red and yellow have a higher rate on average is because if you look at the driving record of those people they have more tickets mostly because the human eye sees red and yellow the best and they attracted the cops attention better.. Yet for wrecks it just happen to be about the same distribution of to color as the colors on the road. So it goes back to the cop sees those colors better. But I will say Black is a new one for for me. Use to be just red had the higher rates.

As I said it depends on the company to see if the car matters. Some it do matter on. Others do not care,

 

[sushi]

Very true, but I am looking at an 07 with low miles, around 30,000 so that will not need much repair if any. 5 speed, V6 I'm hoping for around $10,000. Within two years or so.

I'm sorry, but I still don't see why you need to get a Mustang.

More power to you as you pay higher insurance rates (which are very high because you are a teen.) and maintenance costs.

All cars have problems. Some minor. Some major. Even if you are lucky, the little costs can add up. Tires for your car, for example, cost more than your regular type tire. Plus they wear out quicker.

Ten grand.

That is a lot of money.

Looks how long it has take you to save that up.

Get a good cheap used car. You will be much better financially in the end.

 

[NT1440]

I'm sorry, but I still don't see why you need to get a Mustang.

More power to you as you pay higher insurance rates (which are very high because you are a teen.) and maintenance costs.

All cars have problems. Some minor. Some major. Even if you are lucky, the little costs can add up. Tires for your car, for example, cost more than your regular type tire. Plus they wear out quicker.

Ten grand.

That is a lot of money.

Looks how long it has take you to save that up.

Get a good cheap used car. You will be much better financially in the end.

Most of the time its a status/ego thing to want a nice car. Sometimes its actually because they genuinely love the car. It seems that poster falls in the latter because of his dedication.

Still a waste of money IMHO

 

[sushi]

Most of the time its a status/ego thing to want a nice car. Sometimes its actually because they genuinely love the car. It seems that poster falls in the latter because of his dedication.

Still a waste of money IMHO

I guess we all have our vices.

You know what's interesting, is that if you take the average person who works for 40 years and only earns $25,000 per year, they will have earned 1 million over their lifetime.

Wealth is not so much how much you make, but how you control and invest your money.

 

[NT1440]

I guess we all have our vices.

Tell me about it. I'm a huge techy, im just itchin for my macbook. I love OSX, i just want using a computer to be fun again like it was on my aunts g4 powerbook

My time will come.

 

[dukebound85]

I guess we all have our vices.

You know what's interesting, is that if you take the average person who works for 40 years and only earns $25,000 per year, they will have earned 1 million over their lifetime.

Wealth is not so much how much you make, but how you control and invest your money.

whats that quote i think goes something like this

wealth is not in the things i have, but in the things i dont

or something like that

 

[sushi]

whats that quote i think goes something like this

wealth is not in the things i have, but in the things i dont

or something like that

True.

Even after all these years, this still applies...

"A penny saved is a penny earned" by Ben Franklin.

 

[millerj123]

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.

Yep. The other rate drop was getting married. In my case, that was a combined drop of over $2,000 per year on two vehicles.

 

[sushi]

A couple years ago, I was visiting my Dad and he made a comment that made me think a bit.

He said, "You can never have too much money saved up."

His point was that prices for common everyday items continually increase in price. So while you may have enough saved up based upon today's prices, in the future, your savings will not go near as far. Common sense of course. The problem is projecting the change in price for the things you want to purchase in the future.

Some food for thought...

 

[iBookG4user]

I have about $1200 saved up that is going towards a 5D Mark II for when the lower the prices .

 

[silbeej]

About $13,500. Saving for a Subaru Legacy, which i will purchase this spring once i have more bling.

 

[heehee]

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.

I would be happy to pay 150-170 a month for insurance, and I'm 30. Even if I have a clean record, I would be paying that much for insurance here in Toronto.

And I don't have enough saved up since I'm doing about 5 different things at once in the next few months. Buying a condo (maybe), investing in a business, proposing/getting married, buying a car and going to Shanghai for my best friend's wedding.

 

[DoFoT9]

About $13,500. Saving for a Subaru Legacy, which i will purchase this spring once i have more bling.

legacy = liberty doesnt it??? if so, good on you they are amazing cars what year model?

 

[dukebound85]

Plenty.

Let the economy crash and burn. It is somewhat humorous to me to see all those who ridiculed my simplistic, conservative fiscal lifestyle now eating their words as they cut down on bars, expensive clothes, and so forth. I've saved more than enough money to pay cash for any Mercedes, BMW, Jaguar, or Lexus and I just let it keep sitting in my bank, making free money as interest, and not spending a ding danged nickel. My wife and I get by just fine and dandy on her "meager" salary, which all her coworkers complain about, but we live comparatively well on. Compared to our old situation, it is the lap of luxury for us!

It isn't about how much money you make, it is about how much you save. We are wealthy far beyond our peers in the same age group because we save like crazy. Every time I think I need something (other than toiletries and food), I wait six months to see if I really need it. Works every time.

I've made exceptions for guns, though, in case of zombies or the apocalypse. My wife made an exception for a new pair of shoes for a Christmas party. But that's about it.

Save, save you Americans! Save and learn to live simple, free, and frugal!

I shouldn't post after three whiskey sours. I love Christmas vacation.

i like this

 

[puma1552]

Plenty.

Let the economy crash and burn. It is somewhat humorous to me to see all those who ridiculed my simplistic, conservative fiscal lifestyle now eating their words as they cut down on bars, expensive clothes, and so forth. I've saved more than enough money to pay cash for any Mercedes, BMW, Jaguar, or Lexus and I just let it keep sitting in my bank, making free money as interest, and not spending a ding danged nickel. My wife and I get by just fine and dandy on her "meager" salary, which all her coworkers complain about, but we live comparatively well on. Compared to our old situation, it is the lap of luxury for us!

It isn't about how much money you make, it is about how much you save. We are wealthy far beyond our peers in the same age group because we save like crazy. Every time I think I need something (other than toiletries and food), I wait six months to see if I really need it. Works every time.

I've made exceptions for guns, though, in case of zombies or the apocalypse. My wife made an exception for a new pair of shoes for a Christmas party. But that's about it.

Save, save you Americans! Save and learn to live simple, free, and frugal!

I shouldn't post after three whiskey sours. I love Christmas vacation.

What a waste of a way to live. What's the point in bringing millions to the grave and never live a day in your life?

Personally I'd rather take the happy medium, the road in which you have both nice things, live comfortably and still have plenty of money in the bank. Nickel and diming every single cent in your life just to have an extra zero in your bank account is pointless, IMO.

Had I used your route, I would never have found myself living abroad, or having been to any of the countries I've been to, or had any of this Apple stuff.


Different strokes for different folks, but to me, experiences>>>>>>money.

I wouldn't have attacked you, and I realize your post is old, but your high and mighty holier-than-thou attitude stinks.

 

[dukebound85]

What a waste of a way to live. What's the point in bringing millions to the grave and never live a day in your life?

Personally I'd rather take the happy medium, the road in which you have both nice things, live comfortably and still have plenty of money in the bank. Nickel and diming every single cent in your life just to have an extra zero in your bank account is pointless, IMO.

Had I used your route, I would never have found myself living abroad, or having been to any of the countries I've been to, or had any of this Apple stuff.


Different strokes for different folks, but to me, experiences>>>>>>money.

I wouldn't have attacked you, and I realize your post is old, but your high and mighty holier-than-thou attitude stinks.

i agree to an extent. you work to live not live to work

HOWEVER, it is always nice to have the peace of mind knowing you have funds to fall back on in the event you need to

 

[puma1552]

i agree to an extent. you work to live not live to work

HOWEVER, it is always nice to have the peace of mind knowing you have funds to fall back on in the event you need to

Which is exactly my point. People never seem to realize there's a happy medium, one in which you can do both. People either blow every dime they have, or nickel and dime toilet paper and live like paupers in a crappy house with a crappy car and never taking vacations.

Personally, I'd rather live in a nice but modest condo, with a used M3 downstairs, and enough money in the bank to sleep well at night and be ready for a massive emergency, rather than have the pauper example above, or a new M3 and a huge house bought on an ARM, and no money in the bank.

You can do both--have money, and have nice things and live comfortably.

To answer the question though, I am a fresh graduate and have $14k in a losing Roth IRA.