how do you spend your money?

[cnielsen4130]

ok so i have wanted to ask somthing like this for a while. i dont really know how to word it , or even where im getting at. maybe its too personal? i dont know. Im always curious how much is too much, not that anyone can put a number on that.its diffrent for everyone. WE all clearly or toy guys, right? i guess where im getting at is financing, a contraversial topic. you see carpenter joe is the sand dunes or camping with his new diesel, weekend warrior, 3 dirtbikes, quad and crawler, not to mention his house with a pool and what not, his cute wifes new denali. and you think... he makes X amount, what did/didnt he finance, and so on. So where im getting at is, is there any number that you guys figured out of the years of your income, is a good percentage to finance? let me make the question more detailed. im 20, i have always been good with my finances, but havent been scared to spend money on toys. I have been working full time since i was 17, and doing pretty well now being 2 1/2 years into my electrical apprenticeship. bought my first truck a year and a half ago. then bought a new harley 6 months ago, + insurance and a little credit card balance and a personal loan i pay for. NOW lets say i make 2700 after taxs, working 40 hours, not including side jobs or anything else. and i have 1000 dollars in bills. thats not even half. im comfortable where i am at, i dont pay rent, i live at my parents, which yes i want to move out, but there cool and i dont want to pay rent for no reason, until i buy, and im waiting to buy somthing with some property maybe as partners with my parents. has anyone got any advice, like dont have so many bills, or they think about it in the same way, or i pay cash for everything, or i finance cause its easiar to pay for it. i dont want to be nieve. and get ahead of myself, but i figure im good now, and man there are people doing what i do plus a mortgage, plus kids, and so on. by that time comes around ill be making double my salary and that will hopefully pay for the increased financial responsibilty i get with a future family and kids, i just sit back and look at everyones toys and trucks, and houses, and want to know how they look at what and when and where to spend it. i havent said anything about savings, but i already know its a great idea to have a few bucks for emergencys, and anything else you might need?how do you save? sorry for the completely insane rambling post, but maybe you know where im getting at, i guess just somthing to talk about, that makes me curious, how other people handle their money.

[unimog]

I spend mine mainly on taxes and interest. Not much left over lately.

[ironpig70]

figure if you have the money for toys than either move out and rent or buy its that simple. for me i have a mortgage and 3 kids so after i pay all the bills and 3 college funds and my retirement account anything left over is for toys.

[Bobzooki]

Get married. End of questions.

[s10er8]

spent most of mine on blow

[Spawn_X]

i spend money like there's no tomorrow.

maybe there won't be

[Oxjockey]

Originally Posted by cnielsen4130

im 20, i have always been good with my finances, but havent been scared to spend money on toys. I have been working full time since i was 17, and doing pretty well now being 2 1/2 years into my electrical apprenticeship. bought my first truck a year and a half ago. then bought a new harley 6 months ago, + insurance and a little credit card balance and a personal loan i pay for. NOW lets say i make 2700 after taxs, working 40 hours, not including side jobs or anything else. and i have 1000 dollars in bills. thats not even half. im comfortable where i am at, i dont pay rent, i live at my parents, which yes i want to move out, but there cool and i dont want to pay rent for no reason, until i buy, and im waiting to buy somthing with some property maybe as partners with my parents. has anyone got any advice, like dont have so many bills, or they think about it in the same way, or i pay cash for everything, or i finance cause its easiar to pay for it. i dont want to be nieve.

Save your money. Edit: Save and invest your money

If you save $2000 a year until you're 30, you'll have twice the money at retirement than if you invested $2000 a year from 30-60.

[misterfubar]

I'll come back and post a response after my eyes quit bleeding from reading the question.

[Cork]

I am renting right now while my house is being built. I make alot more than you do most weeks. Cost of living here is alot lower than CA, and I still feel like I am broke. I have few bills. Around $1000 a month and that includes groceries. No new truck, no big toys. Maybe the house is taking it all?

[GETTINTHERETOY]

Ispendmineonparagraphs.

[Spawn_X]

Originally Posted by GETTINTHERETOY

Ispendmineonparagraphs.

[nate379]

I don't think a few loans are unreasonable provided that the payments aren't crazy high.

I normally just buy what I need during the month, grocercies, fuel, ultilites, loans, less expensive items as well.. a couple tools I need or whatever.

I also put $50 a month into a high interest savings account (emergency/short term fund) and $50 into a Roth IRA (long term).
The savings is for something like paying my insurance deductable if I got into a wreck, plane ticket home if someone in my family was in the hosiptal, etc.)

I don't touch it if I want that kick ass plasma cutter, or the new furniture, etc. That would come from the "end of month $$"


Around the end of the month I normally have some $$ left over and I either buy something or put it toward my credit card bill.

[jprcrpr94]

Originally Posted by s10er8

spent most of mine on blow

x2!

[CronusTRD]

Stay single if you want to keep your money.

[Holocene]

I agree with Spawn X; buy what you want and don't look back.

[Priest]

Just don't mortgage your future. It seems that "those guys" are mostly in Cali...the guys that your talking about. the one's with the big dumb truck, toy hauler, dirt bikes, boat, new house, etc. I bet that at least 90% of those guys are in hock up to their asshole, can barely make the monthly payments, are living off of credit cards and are going to be filing bankrupcy at least once in their life.

You can have the toys but be smart about it. I've always had cool stuff but I acquired them over time and I found ways to make them affordable. I paid cash for a bike that was a few years old. I've bought tools and built junk myself instead of just dropping it off and charging it. Remember that toys depreciate. Have fun but be smart. I'm on track to retire at 50 with plenty of years left to play, I've got toys and I have fun but I'm not dumb.

[ABQ-TJ]

Fuck!!!!!

[cnielsen4130]

all is great info, sorry about the bloody eyes, i dont want to be that idiot with the hummer pulling the 65,000 boat makes every chick want his 2 inch dick, i just was useing him as an example. i just see alot of diffrent people, and alot of diffrent theorys, and ways to spend and invest and i was curious on the input. blow is just to expensive, good, but the next morning arent you thinking FUCKKK,
"I JUST SHOVED AN ARB LOCKER UP MY NOSE!"

[cnielsen4130]

Originally Posted by CronusTRD

Stay single if you want to keep your money.

pussy = $

[Po' riggity]

I spend mine on bills. I do have a truck I make payments on, and StacEy and I own our house (making mortgage payments) Between those bills, gas, food, and utilities, along with our IRA's, and saving a certain amount of money every month, I don't have much, if any left for toys, but Im working on securing my future. The toys can wait. That being said, Im going back to school this summer to get a better job.
Scott

[Hef]

I buy what I can afford to pay cash for, without negatively impacting my life. I'm not going to have a crappy home or eat ramen and pb&j's every day for my toys.


PS - you seriously need to learn how to write in sentences and paragraphs. Your English-language suck gives me a headache.

[qwiksilver]

You mean after wheeling expenses?

Rent, food, upkeep on the farm and house my mom lives in and

that's about it.

After wheeling and that white elephant of a farm, there ain't much left.

[primergray]

Guy I know has the truck, Toy Hauler, sand rail and multiple quads.

How did he do it?

Bought his house years ago for 250k, paid it off and then the housing market went through the roof! He refinanced a portion of the house to get his toys and is loving life!

On the other hand, yes, I know people living in a run down apartment and have all of the above mentioned toys who can barely live paycheck to paycheck. They scratch by just to get the gas money to "enjoy" their toys.

Me, if I can't pay off the Credit Card at the end of the month, I don't buy it. I have plans for both of our cars but I ain't going to put my ass in long term debt for our dreams. I set aside some money each month for car upgrades.

I made that mistake when I drained the Savings Account to have my Toyota built, drove it twice off road and then took a bath on it when I sold it.

Lesson learned!

[ndeepoffroad]

I get $200 a week cash. The rest of my check my mom applies to my rent (I rent from my parents, live in the shop), electricity, water, and my dental/health insurance. I have to pay a $336 a month loan payment (see thread about credit cards) and $165 a month for auto insurance.

I make $800 a month. $500 to bills. $300 goes to beer, smokes, beer, some gas, parts for the trucks, and bullshit I feel like I need (sirius radio, Diet Mtn Dew, a shit load of food). $300 won't buy all that you say. Well, I work on the weekends and earn about $100 extra cash a week to blow on the 2 30 packs, 3 packs of Marlboro Lights, food etc.

I live paycheck to paycheck, but until I get out of college, it's all I got.

When I get out, I hope to save some, not get married for a while, and get some things bought and paid for that I want, then we can get hitched and blow money on fucking Gucci shoes, Fendi bags, a Mercedes, blah blah fuckin' blah.

I'm a spend thrift though, if I have $1, I gotta spend that mother fucker or it will burn a hole through my wallet like Napalm.

[schulze]

Originally Posted by ndeepoffroad

...I live paycheck to paycheck, but until I get out of college, it's all I got.

When I get out, I hope to save some, not get married for a while, and get some things bought and paid for that I want, ....

I'm a spend thrift though, if I have $1, I gotta spend that mother fucker or it will burn a hole through my wallet like Napalm.

Except for that last part at least you have the right ideas now . When/if you do get married don't slip back into the bad habits. There are those who won't budget and they spend way beyond their means and then blame a divorce for their financial situation.

Pip