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re: So how much after taxes a month do you need to live pretty much like you like
Posted on 8/24/18 at 8:37 am to fishfighter
Posted on 8/24/18 at 8:37 am to fishfighter
Sadly I must admit that I pay 3 car notes every month.
Ford Focus will be paid off in 4 months though and it's still in good enough condition and low enough miles that it doesn't need to be replaced. That will save me several hundred dollars a month.
Ford Focus will be paid off in 4 months though and it's still in good enough condition and low enough miles that it doesn't need to be replaced. That will save me several hundred dollars a month.
1
Posted on 8/24/18 at 8:48 am to HeyHeyHogsAllTheWay
quote:
You spend $5K a month on entertainment? LOL come on, if you're going to tell a lie at least make it have some possibility of being true.
Hookers and Blow isnt as cheap as it use to be
Posted on 8/24/18 at 8:50 am to HeyHeyHogsAllTheWay
Been looking at a new car for the wife, but I just hate to deal with car sales people. I would take a kick in the nuts then deal with them.
Posted on 8/24/18 at 8:51 am to LSUGRAD2008
quote:
Hookers and Blow isnt as cheap as it use to be
Unless you're starting for a pro sports team you probably either don't have that sort of disposable income or are smart enough to not blow it like that.
Posted on 8/24/18 at 8:56 am to jimdog
I need a minimum 4600 before tax.
Posted on 8/24/18 at 9:02 am to TigerVespamon
quote:
Dave Ramsey and I disagree.
That's fine, but Ramsey's advice is for the masses, not for someone who has a handle on their finances.
The fact that a car is a depreciating asset is often brought up as a reason not to finance, but that makes no sense either. Bottom line is would you rather $40k today or $42,600 over 5 years (2.5% interest over 60 months)? Choice seems pretty straightforward to me.
Posted on 8/24/18 at 9:05 am to slackster
quote:
That's fine, but Ramsey's advice is for the masses, not for someone who has a handle on their finances.
The fact that a car is a depreciating asset is often brought up as a reason not to finance, but that makes no sense either. Bottom line is would you rather $40k today or $42,600 over 5 years (2.5% interest over 60 months)? Choice seems pretty straightforward to me.
What cracks me up is we all damn well know that most of the people who argue this point couldn't write a check for a $40K car anyway, making it a moot point. They guy who owns a $2K pile of shite telling me I should pay cash for my $70K 2018 Ford F250 makes me laugh.
Posted on 8/24/18 at 9:07 am to slackster
40K for a car is a fools game to start with. Does someone really need a 40K car when a 20K car will do the same thing?
Big reason as to why some people will never live in their means.
Big reason as to why some people will never live in their means.
Posted on 8/24/18 at 9:12 am to fishfighter
quote:
40K for a car is a fools game to start with. Does someone really need a 40K car when a 20K car will do the same thing?
LOL oh really Mr Smart Guy? Please show me a $20K vehicle that will tow a 16' trailer full of cattle and seat 4 comfortably.
Posted on 8/24/18 at 9:26 am to slackster
quote:When financing a vehicle, the borrower is required to purchase comp and collision insurance in addition to liability insurance, so factor that in over 60 months, goofball.
The fact that a car is a depreciating asset is often brought up as a reason not to finance, but that makes no sense either. Bottom line is would you rather $40k today or $42,600 over 5 years (2.5% interest over 60 months)? Choice seems pretty straightforward to me.
This post was edited on 8/24/18 at 9:28 am
Posted on 8/24/18 at 9:38 am to TH03
quote:
You live with like 6 other guys though.
You will be proud to know that I am moving out this weekend into a place in Addison by myself lol.
Posted on 8/24/18 at 9:49 am to jimdog
I’m single no kids make 75k salary plus bonus on catfish sales commission at end of the year. Usually 5-10k bonus.
Company provides full health insurance completely free and 401k.
I have a company F250 I take home and can use for personal use, free diesel.
My personal truck, 2015 GMC SLT z71, is paid off.
My bills
625 for rent
Electric is about 120
20 for Natural gas
70 Internet
35 water/sewage/trash
32 for Dish network
40 for gym membership
400 for ski boat note
135 insurance on boat/truck
100 credit card payments
Few small things like Netflix.
Roughly 1700 in bills.
After taxes make about 4,250 a month
Leaves roughly 2550 a month for food, fun, savings
Company provides full health insurance completely free and 401k.
I have a company F250 I take home and can use for personal use, free diesel.
My personal truck, 2015 GMC SLT z71, is paid off.
My bills
625 for rent
Electric is about 120
20 for Natural gas
70 Internet
35 water/sewage/trash
32 for Dish network
40 for gym membership
400 for ski boat note
135 insurance on boat/truck
100 credit card payments
Few small things like Netflix.
Roughly 1700 in bills.
After taxes make about 4,250 a month
Leaves roughly 2550 a month for food, fun, savings
Posted on 8/24/18 at 9:52 am to fishfighter
quote:
40K for a car is a fools game to start with. Does someone really need a 40K car when a 20K car will do the same thing?
Sure. Some people want a new car though. Not everyone wants to drive a Honda Accord ten years. If they can afford it, why not?
Let people enjoy things...
Posted on 8/24/18 at 12:06 pm to fishfighter
quote:
Been looking at a new car for the wife, but I just hate to deal with car sales people. I would take a kick in the nuts then deal with them.
If you know what kind of car you want, you don’t have to set foot in a dealership until the deal is already done and you’re there to sign the papers. For the past 5 years I’ve been doing the whole process online, usually out of state. Just a few short email or text exchanges and the deal is done without all the hassle. And I’m getting great deals because I’m shopping a 500 mile radius.
Posted on 8/24/18 at 12:08 pm to fishfighter
quote:
40K for a car is a fools game to start with. Does someone really need a 40K car when a 20K car will do the same thing?
This is a ridiculous statement.
Posted on 8/24/18 at 12:40 pm to slackster
quote:
rather $40k today or $42,600 over 5 years (2.5% interest over 60 months)? Choice seems pretty straightforward to me.
Ramsey's point (and I'm stretching here)
Is what if you put that extra $2,600 in bitcoin 5 years ago...much less in about any market...
It's not just the seemingly small interest you pay, it's what you could have put that towards...
Personally, I go back and forth on this stuff, but if I have an opportunity to turn cash, I will.
Posted on 8/24/18 at 12:45 pm to IceTiger
quote:
Is what if you put that extra $2,600 in bitcoin 5 years ago...much less in about any market...
What if you financed the car and invested the cash a return greater than the interest rate on the loan?
Posted on 8/24/18 at 12:53 pm to ProjectP2294
My current budget is +/- $11,000/month.
If you take out the Nanny at $3,000/month and the $2,500/month student loan payments we make, then I could live like a motherfricking G for about $5,500 a month. I guess I will get a raise when he goes to school, but I'll just accelerate more student loan debt with that money. Student loans will hopefully be gone by January of 2022.
If you take out the Nanny at $3,000/month and the $2,500/month student loan payments we make, then I could live like a motherfricking G for about $5,500 a month. I guess I will get a raise when he goes to school, but I'll just accelerate more student loan debt with that money. Student loans will hopefully be gone by January of 2022.
Posted on 8/24/18 at 4:10 pm to TheWiz
Commenting on the car/truck payments.
I drive a 2002 Toyota Tundra with 165,000 miles on it. My golf buddy drives a 2009 Silverado with 262,000 miles on it.
We are both retired and our upholstery looks like hell, but you know what? We don't give a shite. Both of us have done maintenance over the years, just changed out an oxygen sensor last week..$50 bucks. A/C recharges less than $10. Timing belt/chain less than $150. Don't get me started on the price of changing brake pads.
Are we frugal? We have to be because we have annual increases in property taxes to support a failing school system, proposed sales tax increases to fund increasing social/welfare programs, out of control reimbursements to hospitals...
I could live on a hell of lot less, if I didn't live in a net loss community.
I drive a 2002 Toyota Tundra with 165,000 miles on it. My golf buddy drives a 2009 Silverado with 262,000 miles on it.
We are both retired and our upholstery looks like hell, but you know what? We don't give a shite. Both of us have done maintenance over the years, just changed out an oxygen sensor last week..$50 bucks. A/C recharges less than $10. Timing belt/chain less than $150. Don't get me started on the price of changing brake pads.
Are we frugal? We have to be because we have annual increases in property taxes to support a failing school system, proposed sales tax increases to fund increasing social/welfare programs, out of control reimbursements to hospitals...
I could live on a hell of lot less, if I didn't live in a net loss community.
Posted on 8/24/18 at 4:30 pm to birdieman
quote:
Rent in a major city is our only big expense (2900) a month.
Wait, you spend 2900/mo in RENT? Holy crap!
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