[airics]

Originally Posted by extremeatheist

My vice is automobiles. I've had 51 in my 12 years of driving. This is my second brand new vehicle. The great majority of cars I've had were purchased with cash for 1200 or less. I can maintain them and repair them myself. I get tired of them quickly and trade or sell to buy another one. I used a buy here pay here for 3 of them.

I could have easily bought a nice house had I stuck with one car and saved the money BUT you can live in your car, you can't race your house. Automobiles bring me far more joy than a house. I'm rarely home anyway.
That being said, I intend to buy a house when my lease is up mainly for the noise reduction and proximity to better schools.

I can relate... I'm assuming you're about 28. Your insurance won't drop heavily until 35 / married. I understand the car thing... Heck 20 years ago, I was driving Trans Am's and Vette's. Today to me, its all about the gas mileage.. gas was under a buck a gallon then. But... i do really miss my 1988 Trans Am GTA 5spd Bronze with the Billet wheels and TTops. I also had a custom Calloway converted Corvette. Bought it in Boston. Horrible ride but made a nice chunk of change on that one....

Now, I drive a 02 Insight to work.. and a Veloster for the weekends and nights out.. I don't need the speed anymore...

[Bps401]

With a roommate, its definitely possible. We did the same thing last year just starting out.

[ScoopLV]

Originally Posted by aggrofish

The rest of the advice is solid, but this is something that no arm chairing is needed. If you make more in interest income from investing the $43,000 versus paying cash then its a decent move. If your interest is higher than what you can generate on investing the $43,000...or whatever the principal was...then it's a bad move.

Most people paying rent and with a high debt load usually aren't investing much in the first place. And for people like that, the price of money is awfully high. I assure you, this isn't "pick on extremeatheist" day. Nor is it even, "pick on mellowagnostic" day. I'm just using his numbers because they're the only numbers in this thread.

I'm a big fan of trucks. I love my truck. It's a great truck. It doesn't run on gasoline, gets 20 miles to the gallon, has a 5.4 liter V8 with a ton of torque -- and it only cost me $4,000 with 60K on the odometer. I will never buy another new car again. The "new car smell" and the warranty simply aren't worth the massive amount of depreciation.

It doesn't make any economic sense to me to pay $43,000 over five years for a truck that's only worth around $30K the minute it's driven off the lot. (And goes down fast from there.) Not when there are so many good vehicles, some with a ton of warranty left on them, for less than half that price.

If extremeatheist can write off depreciation and interest in the future because of his business, that's one thing. But he won't be able to write off the money spent thus far.

[EA]

I'm 31 married with 2 kids.
I like to live cheap. I prefer to be able to pay bills on min wage but that's just not possible here.
I haven't made min wage in a long time though.
I tried to get into investing but I can't. That whole scheme has screwed the world.

Anyway. I just want to live. I don't want to live to work.
I want to set up a business and gradually retire.

[unf0rgiven6262]

My monthly bills for two are around 1200-1400 per month. I'm not living in any ghetto and I am able to go out if I want.

[ScoopLV]

Originally Posted by extremeatheist

I tried to get into investing but I can't. That whole scheme has screwed the world.

Research index funds. It's not a "get rich quick" scheme. It's a "get rich slow" plan. Disciplined long-term investment will get you there -- barring natural disasters, zombie apocalypse, Sharron Angle being elected president, etc.

[MarioPhoto]

Tell me if this calculation is close

It's just me and my Wife.

1. 2br apt ( we need 2 in order to turn one into my office ) $600-$700
2. Power - $100
3. Internet $50 Do not need cable TV nor Phone
4. Two cell phones $100 ..we are going with Solavei ( $50 a month Unlimited 4g and Minutes )
5. Car, Renters insurance $150
6. Food and house supplies $400 ( $100 a week even if i consider myself a coupon master i like to have a set amount for this and the weeks i save we put it in a saving account for vacations)
7. Netflix , Hulu Plus , Amazon Prime and Redbox $30 ( living now in DR and don't need more than that )
8. Gas $200 ( $50 a week )
9. Extras ( Gas , water , garbage , etc ) $150 Just in case not included in rent.

All that comes out to $1880 .

So i believe my Wife and I can live of $2000 a month to start . Am i wrong , am i missing something ?

Thanks all

[BBMW]

The apartment seems a little low, maybe $800 if you want a good area. You need a car maintenance repair allowance. Someone else will need to speak to electric. Seems a bit low average with the high summer months. I see nothing for medical or medical insurance.

Oh, and it Vegas, so you need a gambling/entertainment allowance

Originally Posted by MarioPhoto

Tell me if this calculation is close

It's just me and my Wife.

1. 2br apt ( we need 2 in order to turn one into my office ) $600-$700
2. Power - $100
3. Internet $50 Do not need cable TV nor Phone
4. Two cell phones $100 ..we are going with Solavei ( $50 a month Unlimited 4g and Minutes )
5. Car, Renters insurance $150
6. Food and house supplies $400 ( $100 a week even if i consider myself a coupon master i like to have a set amount for this and the weeks i save we put it in a saving account for vacations)
7. Netflix , Hulu Plus , Amazon Prime and Redbox $30 ( living now in DR and don't need more than that )
8. Gas $200 ( $50 a week )
9. Extras ( Gas , water , garbage , etc ) $150 Just in case not included in rent.

All that comes out to $1880 .

So i believe my Wife and I can live of $2000 a month to start . Am i wrong , am i missing something ?

Thanks all

[MarioPhoto]

Originally Posted by BBMW

The apartment seems a little low, maybe $800 if you want a good area. You need a car maintenance repair allowance. Someone else will need to speak to electric. Seems a bit low average with the high summer months. I see nothing for medical or medical insurance.

Oh, and it Vegas, so you need a gambling/entertainment allowance

Thanks Man but i have been too many years on the other side ( House Side ) of gambling and i know that is the one thing i will not do .

Entertainment will come out from what we save and remember i did leave a $120 couching ( not much but it's just my wife and me and we are simple folk )

Medical insurance i am planning to get via the LLC i have to make a an business expense.

Now to the Power bill from what i have asked and read , a 2br averages about $100 a month , less on the cold more on the hot months, Am i wrong ?

[mojavedxer]

Originally Posted by BBMW

The apartment seems a little low, maybe $800 if you want a good area. You need a car maintenance repair allowance. Someone else will need to speak to electric. Seems a bit low average with the high summer months. I see nothing for medical or medical insurance.

Oh, and it Vegas, so you need a gambling/entertainment allowance

1. Yes but the neighborhood may not be that great. $800 to 1k would be more reasonable.
2. More like $200 in the summer months
3. Not sure where you will get $50 internet that will support enough speed or limited data cap used in video streaming. Its more like $62 total for Cox middle tier internet even if you bring your own modem.
4. Yes even cheaper with Walmart Straight Talk.
Everything else seems inline depending on your shopping habits.