Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics > Personal Finance
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 07-09-2011, 08:29 PM
 
Location: South Carolina
3,400 posts, read 8,006,332 times
Reputation: 2871

Advertisements

Solid bills are: Dog food $50 a month

CC payment : at least $100 a month if/when I have a balance. I dont make big purchases when I have a balance.

Gas (this went up since I drive an hour total to/from work) $144 a month

Groceries- $60 on average per month. I make out like a bandit at the grocery store.

Paycheck is usually $200-230, but there ARE some weeks occasionally its lower if I cant pick up enough hours. When that is the case, I adapt my habits accordingly.

Other than these expenses above, I have very very few bills outside of whats necessary to keep myself and my tiny family happy. I save for a rainy day, because usually when my rainy day happens it wipes me out ( example...this time the car ate my nice little padding I was building up...before that, it was the dog who decided itd be lovely to eat things he shouldnt and needed his stomach pumped...then the other got an ear infection...crap happens.)

I have a 401k I put into that has about 5k in it at the moment. I'll begin another with this company as soon as I am eligible. I also own about $3000 worth of stock. However, those wont be touched for any reason other than Im old. Once I sold that stock, I could never get it back. Ever. Short of slaving myself to the same company once more for 5 years... SO, what was that about not saving?

I make 9 an hour now...however, taxes/gas in my state are lower than most..So thats a consideration too. Im 24. This is my 2nd job ever and its a major upgrade from where I was. I plan on staying where I am for a year and then dipping my feet into the jewelry industry...I needed selling experience and this suits perfectly.Next job I'll have enough experience under my belt to ask for 10hr or so, and if it comes with commission, sweet.

Im looking into a used Buick Regal (low mileage can be found for about 5k) or if I wanna go higher, my Lacrosse can be found for 10k. Depreciation doesnt matter, so long as the car is sound. Once I get it, it wont be sold again. I'll keep my cars until its time for them to go to Car Heaven. Thats the only reason Im starting to look now.
Reply With Quote Quick reply to this message

 
Old 07-09-2011, 08:35 PM
 
Location: South Carolina
3,400 posts, read 8,006,332 times
Reputation: 2871
PS

THERE IS NO PUBLIC TRANSPORTATION IN SOUTH CAROLINA. You think my ornery state would raise the taxes for that?? Pfft, please. Raising taxes here is pretty much one of the few subjects that will get a politician fired.
You drive, or you're pretty much out of luck if you're trying to get to work. Have fun if you're trying to take a bus, especially if you're crossing state lines to/from work everyday. Not an option at all.
Reply With Quote Quick reply to this message
 
Old 07-09-2011, 08:51 PM
 
Location: South Carolina
3,400 posts, read 8,006,332 times
Reputation: 2871
Quote:
Originally Posted by Gandalara View Post
Here's an idea - you could change your payroll tax deduction at work so you'd have the money now (and put that amount in savings just in case), instead of in a tax return refund.

At today's savings interest rates, it doesn't matter whether you save it or Uncle Sam saves it for you - but if you need the money now, this would be one thing to do to get some extra cash.
I like this idea, actually, and I'll look into it. Thank you.
Quote:
Originally Posted by TurtleCreek80 View Post
You can't save anything, YET you think you have $300-400/mo to blow on a used car that costs as much as you make in a year?! Sweetie, let me tell YOU a thing or two. Pick a car that will cost half as much and then you can be saving $150-200/mo.

The math on your job doesn't work out. How much does your new job pay? Because your old job would have netted you out to $200/wk at $7/hr....
Bull. My old job I NEVER saw $200 a week on a paycheck. Ever. Not in 5 years. Gross, yes. Net? No ma'am.My checks in that hellhole (Despised the place if you cant tell ) averaged $130 after 401k payments + insurance. But Id get it all back come tax time.
Btw, read. It was 7.80. Id be richer if they'd tried paying me at $7 hr because thats illegal and I'd have sued their butts off. Its 9 now. Double state taxes are what nail me every paycheck. I live in SC, work in GA because the job market in my town stinks. This is the reason I'll change jobs eventually for something higher.

And what part of can, dont you understand? I socked away $600 in the 6 weeks I got my new job. It was recently eaten by car repairs I didnt expect nor could have anticipated. I believe that falls into the '**** happens' category, not 'OP is a pea-brained spendthrift and cant save anything' category.
Reply With Quote Quick reply to this message
 
Old 07-09-2011, 10:03 PM
 
10,103 posts, read 19,305,629 times
Reputation: 17432
Quote:
Originally Posted by MoNative34 View Post
Again, a $200 per week income and financing a brand new car is insanity and asking for trouble.

I'm curious on what kind of new car you purchased for $79/month on a 4 year term.

It was a long time ago--- a Plymouth Horizon, total cost was, I forget the exact figures, but around $5000. I realize prices have gone way up since then and I wasn't suggesting the OP could find a car for $70/month, I just wanted to point out the difference in my situation.

A used car cost me $175/month, a 2 year note, for nothing but misery and nearly lost my job for not having dependable transportation. A brand-new, fuel efficient, dependable car cost $79/month, 4 year note.

I realize you can't duplicate those figures nowadays, just to show how sometimes it pays to go the long route, its more managable, and it served as a bridge for me to get from first job to a stable, higher paying job.

Last edited by MaryleeII; 07-09-2011 at 11:27 PM..
Reply With Quote Quick reply to this message
 
Old 07-09-2011, 11:27 PM
 
10,103 posts, read 19,305,629 times
Reputation: 17432
You also have to consider if you drive long distances, you need a really reliable car, whether its used or new. If used, you can't afford anything very old (ie cheap) because you can't afford constant repairs.

Also, if you drive a long way to work, all the more reason you need dependable transportation. My first job was about 4 miles from home, I could rely on friends, family, taxi for the ocassional car breakdown, but no one, including your mother, can be relied upon for an hour's drive daily!

Bless my mother,she never asked for gas, just was at the ready to drive me on days my car broke down, and was right there to meet me when I got off work, and had a hot dinner waiting. It takes a lot for a young person to get established in the world, its tough to make it!
Reply With Quote Quick reply to this message
 
Old 07-10-2011, 03:36 AM
 
243 posts, read 545,301 times
Reputation: 289
Quote:
Originally Posted by Colddiamond102 View Post
Im looking into a used Buick Regal (low mileage can be found for about 5k) or if I wanna go higher, my Lacrosse can be found for 10k. Depreciation doesnt matter, so long as the car is sound. Once I get it, it wont be sold again. I'll keep my cars until its time for them to go to Car Heaven. Thats the only reason Im starting to look now.
$5K-10K is quite a ways from the $16K figure mentioned earlier. So what are you looking to get/spend? Whatever it is, I'd start putting away a monthly amount equal to estimated car payments + insurance (assuming it's higher than what you currently pay). While you're looking for the car, you'll be accumulating a down payment plus your budget will adjust to the new obligations.
Reply With Quote Quick reply to this message
 
Old 07-10-2011, 10:14 AM
 
13,194 posts, read 28,107,679 times
Reputation: 13124
Quote:
Originally Posted by mclarlm View Post
$5K-10K is quite a ways from the $16K figure mentioned earlier. So what are you looking to get/spend? Whatever it is, I'd start putting away a monthly amount equal to estimated car payments + insurance (assuming it's higher than what you currently pay). While you're looking for the car, you'll be accumulating a down payment plus your budget will adjust to the new obligations.
Agreed. A $5-10k used car is reasonable- especially knowing your monthly expenses. I didn't see car insurance, cell phone, cable/Internet bill, and quite a few other expenses most people have in your budget. Do you not pay for those items? Will you continue to not pay for them over the course of a 3-4 year car note?

Seriously though. Go back and read your first post and recognize the first impression you made on the forum-> all you told us was you make $200/wk, have $800 of debt, and you want to buy a used car that retails for $30k new.

Now read your last posts when you explain your debt was a one-time expense, you're looking at $5-10k cars, and you have a small income but relatively little expenses and are able to save a good portion each month.

It's hard for posters to not jump to conclusions when you don't provide the necessary details. Keep in mind for future posts so you don't have to take a thread to page 4 before getting good advice.

For a $5-10k car, start saving each month and file your tax return asap in January when you receive all your w2's and other paperwork. That will ensure your refund arrives in early/mid Feb. Hopefully your current car will last that long and you can take the $1500 refund and $1,200 or so from monthly savings and put down a good chunk towards the new used car.
Reply With Quote Quick reply to this message
 
Old 07-10-2011, 07:29 PM
 
Location: South Carolina
3,400 posts, read 8,006,332 times
Reputation: 2871
Quote:
Originally Posted by TurtleCreek80 View Post
Agreed. A $5-10k used car is reasonable- especially knowing your monthly expenses. I didn't see car insurance, cell phone, cable/Internet bill, and quite a few other expenses most people have in your budget. Do you not pay for those items? Will you continue to not pay for them over the course of a 3-4 year car note?

Seriously though. Go back and read your first post and recognize the first impression you made on the forum-> all you told us was you make $200/wk, have $800 of debt, and you want to buy a used car that retails for $30k new.

Now read your last posts when you explain your debt was a one-time expense, you're looking at $5-10k cars, and you have a small income but relatively little expenses and are able to save a good portion each month.

It's hard for posters to not jump to conclusions when you don't provide the necessary details. Keep in mind for future posts so you don't have to take a thread to page 4 before getting good advice.

For a $5-10k car, start saving each month and file your tax return asap in January when you receive all your w2's and other paperwork. That will ensure your refund arrives in early/mid Feb. Hopefully your current car will last that long and you can take the $1500 refund and $1,200 or so from monthly savings and put down a good chunk towards the new used car.
No, I dont, since the car Ive driven since I was 16 belongs to my mother. I pay for gas, taxes, and all maintenance. Insurance is cheaper under her, so we kept it that way seeing as Im not 25 yet. This next car will be the first Ive ever owned outright.
I dont have health insurance, so no bill there. Lost dental when I left the last job, so nothing there either.
My cell bill was taken over by my fiance because he's a stubborn git and likes to try to pay for everything, and I lost a bet between us. , internet is bundled with the household cable/phone bill and is used for various things around my family. We've only had cable internet for about a year now...before was either dial up or the library.
I am responsible for groceries, anything to do with the dogs...I have no idea what other expenses you speak of that most people have. Ive kept my bills very,very, very low over the years out of necessity and habit. I pitch in when things fall short in my household, but otherwise I am responsible for myself, and continue to restrict myself to the same budget I had at 7.80 an hour.

In the next 3-4 years, I'll be married, and we'll be splitting the bills in half. If the cell becomes a problem at some point, it will be ditched for a pre-paid. There's nothing in a budget that cant be flexible beyond a house/car payment amount. He's Navy, so our health insurance will be paid for, as will likely our housing costs/moving costs if he stays in. If he gets out, our housing will still be paid for as long as he's in school full time, which will take 3-4 years to complete what he needs to do. Either way, we're sitting pretty.

Last edited by Colddiamond102; 07-10-2011 at 07:40 PM..
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics > Personal Finance
Similar Threads

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top