Advice on saving money in Torrance (apartments, to rent, car insurance)

[varun2123]

I appreciate the responses but it would be my only depreciating asset. I have no debt at all and my concern is to just have a bit of savings. I said 50k but I really mean 40k at most. Maybe I might consider a Tesla S or something else.

This is my first job as an engineer so salary will be going up as well as my secondary income which can alone cover my car payments.

I am not into those outdoor toys so my only payment would be the the BMW. Family helps chip in a bit as well.

I believe my payments for the car would barely cross the 10% rule of your gross income if not meet it

[varun2123]

to add on the 3,4,&,5 series are way too common and not worth it..6 series has been my favorite car for years..rather drive it while I'm young than when I'm old trying to re live youth

[huja]

Originally Posted by varun2123

I appreciate the responses but it would be my only depreciating asset. I have no debt at all and my concern is to just have a bit of savings. I said 50k but I really mean 40k at most. Maybe I might consider a Tesla S or something else.

This is my first job as an engineer so salary will be going up as well as my secondary income which can alone cover my car payments.

I am not into those outdoor toys so my only payment would be the the BMW. Family helps chip in a bit as well.

I believe my payments for the car would barely cross the 10% rule of your gross income if not meet it

Being able to afford ≠ Saving money


It doesn't seem like you are actually looking for advice. Just confirmation that buying the BMW is a a good idea. Or at least not a bad one.

It's your money and your business but your reasoning doesn't match the title of your post. And you are changing the parameters of the conversation as the thread progresses.

I said 50k but I really mean 40k at most. Maybe I might consider a Tesla S or something else.

Good luck in your young career. Enjoy the Bimmer. The Tesla or which ever toy you choose to buy.

[Mr_Geek]

I don't think you can get a tesla under 50k.

[varun2123]

Originally Posted by huja

Being able to afford ≠ Saving money


It doesn't seem like you are actually looking for advice. Just confirmation that buying the BMW is a a good idea. Or at least not a bad one.

It's your money and your business but your reasoning doesn't match the title of your post. And you are changing the parameters of the conversation as the thread progresses.



Good luck in your young career. Enjoy the Bimmer. The Tesla or which ever toy you choose to buy.

Third die

I feel you but I'm just adding extra parameters so people don't assume my situation like the typical

my salary will also jump next ur as well as my side business

[jm1982]

Do you a have a decent emergency fund ? The economy is doing well now but it never lasts forever . If the worst scenario happened financially and you experienced a layoff would you be ok paying your rent and other expenses and a big car payment for 6 months to a year ?

You won’t find anyone that will tell you it’s a good idea financially if that is what you are looking for. But it is your money .

[varun2123]

Originally Posted by jm1982

Do you a have a decent emergency fund ? The economy is doing well now but it never lasts forever . If the worst scenario happened financially and you experienced a layoff would you be ok paying your rent and other expenses and a big car payment for 6 months to a year ?

You won’t find anyone that will tell you it’s a good idea financially if that is what you are looking for. But it is your money .

not for 6 months no I don't. Which is why I'll wait for a few months. I do have family who would pitch in worst case but I am planning as if they were not existent

[Vic Romano]

Originally Posted by varun2123

Third die

I feel you but I'm just adding extra parameters so people don't assume my situation like the typical

my salary will also jump next ur as well as my side business

I don't know why you bothered asking the question if you're not going to listen to the advice you're being given. You've asked how to save money and we've told you. I can tell you know what you SHOULD do but you're only looking for confirmation of what you WANT to do.

You're not asking for advice, you're looking for confirmation. We've said no BMW.

[varun2123]

Originally Posted by Vic Romano

I don't know why you bothered asking the question if you're not going to listen to the advice you're being given. You've asked how to save money and we've told you. I can tell you know what you SHOULD do but you're only looking for confirmation of what you WANT to do.

You're not asking for advice, you're looking for confirmation. We've said no BMW.

Ur also ignoring the factors in my situation but that's fine I'll let that be 😂

All i get is negativity from most of the replies but let's ignore that too haha

[Vic Romano]

Originally Posted by varun2123

Ur also ignoring the factors in my situation but that's fine I'll let that be ��

All i get is negativity from most of the replies but let's ignore that too haha

Sorry, not ignoring the factors. The factors in your situation aren't enough to change our advice.

If all you wanted to hear was positive things then perhaps you should not have posted.

We're giving you honest advice. We have no reason to do otherwise.