Originally Posted by erliuic,Sep 28 2007, 10:16 AM

Such is the advice from the romantic Lord Byron himself

Originally Posted by moogleii,Sep 26 2007, 03:35 PM

I like the break down, but I'm going to have to disagree here. My student loans are around 13k and my rate is around 3%. This was during the golden age of low interest (04-05). My friend just consolidated at around 7%.

So, my recommendation to you is to consolidate your student loans asap. Don't drag your feet on this one, my friend did, and hence, he ended up with 7%, instead of 3%. Shop around, there should be a lot of businesses vying for your money. I'm assuming you took out government student loans. If you started off with a bank loan at 15%, then...I'm sorry.

Originally Posted by beanolo,Sep 25 2007, 12:59 PM

See here, lets try do a quick calculation.

$36k/year. That comes out to a biweekly pay of about $1500/month. No idea where you are from, but lets just assume you take home about $975 after taxes/deductions/whatever.

That means you have about $1950/month.

Lets just round rent together to about $500 even, as you also did not account for random things such as utilities (not sure if you have to pay this), or internet (which I'm sure you will have, more if you have cable.).

So thats $1450/month. I calculated a loan for about $4k, for a s2k purchased at $16k (minimum), 1k for taxes/registration. This equates to a payment of about $125/month if you did a 3 year loan @ 8.00% (guessed again).

Thats $1325/month.

Based on age and record (another thing we don't know), your insurance will be anywhere from $100-250/month. Lets just go with the middle at $175/month.

Thats now $1150/month.

Plus now comes the 15k in student loans. Regardless if they are deferred or not, the rates are normally at ripoff rates, and should be your main priority to payoff. I calculated about 15k over a 5 year payoff, at 15%, which would be about $357/month.

Now you would be at $793/month.

So basically each week you have about $400 extra to cover all food, and gas, and your occasional "fun" things. A few times eating out.. lets say add up to $150 every week for "fun" (lunch/groceries/movies/dinner/whatever). Gas? About one fillup a week? Thats about $60-80~. So -$600 for fun. $140/month for gas.

Leaves you with $53~ a month to either save, buy an R6, or buy more ramen.

I dunno man, it adds up quick. Plus I'm not sure if you plan to finance the bike or not, but add on that payment/insurance, plus all the bike gear, etc.. you are definitely overspent if you go that route.

Of course this is all hypothetical and I was bored.

Originally Posted by sushi170,Sep 26 2007, 01:48 AM

yes! get yourself an s2k and eat ramen noodles. a worthy sacrifice