50k a year...
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Joined: Aug 2007
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Originally Posted by MikeyCB,Apr 9 2008, 12:37 PM
I make more than you and spend every penny (and sometimes more) every month. It's not a mystery to me why I have no money left, I spend money like it's going out of style, but it's a choice I make to pull out my wallet every time.
Last month I got to the point where I decided I've had enough of it though and I'm ready to be serious about putting money aside and paying of remaining debts (including the last $20k owed on the S). Amazingly, I finished the month with enough money left over to pay this month's living expenses completely. I like to have a good time and eat meals out a lot, go for drinks and have fun nights out, but when I spend more each month on intangible entertainment than I do to put a roof over my head I know something is wrong.
Like was said, examine whether you are getting hosed on your insurance first, then re-evaluate your spending. You will likely be able to find hundreds of dollars each month just by making some small changes. Tracking what you spend will also likely result in you avoiding spending money on certain frivolous things and you'll end up not even pulling out your wallet the next time.
Last month I got to the point where I decided I've had enough of it though and I'm ready to be serious about putting money aside and paying of remaining debts (including the last $20k owed on the S). Amazingly, I finished the month with enough money left over to pay this month's living expenses completely. I like to have a good time and eat meals out a lot, go for drinks and have fun nights out, but when I spend more each month on intangible entertainment than I do to put a roof over my head I know something is wrong.
Like was said, examine whether you are getting hosed on your insurance first, then re-evaluate your spending. You will likely be able to find hundreds of dollars each month just by making some small changes. Tracking what you spend will also likely result in you avoiding spending money on certain frivolous things and you'll end up not even pulling out your wallet the next time.
Went through the same thing 2-3 months ago...
Joined: Sep 2006
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If you really have your heart set on an S and love it to the death, then let go of your '08 and get an older model. They will help you out immensely and should free up some money. Once you start seeing how much you're saving by making one adjustment (like the S), then you'll start to think to yourself how much more you will be able to save if you investigate other expenses. Good luck
Joined: Mar 2008
Posts: 1,818
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From: SE Michigan, USA
try not spending all your money on something that will only decrease in value.... like cars. duh. you're raped on your insurance. if your payments are that high hopefully you're getting it paid off in only a couple years, but you might have done something dumb like buy a brand new s2k.
why dumb? because its something that will suck all your money away which is what you're complaining about. when i bought my s2k at 20 (no help from anyone), with 4,5xx miles on it, i KNEW i was going to get raped for a little while with insurance so when i was broke i didn't wonder why. getting raped on rent doesn't help either. 1200? u could b paying on a house for that. once again - throwing away money. you need some big help with your spending habits. spending over 5k a year on insurance alone, spendingr 14k a year on rent. with that kinda rent u could pay off a 100k house in 10 years. if u currently have a rsx - why? even if it's paid off you're spending 3k a year on just insurance for that bad boy which isn't getting any better milage than the s2k. ur best off selling it and getting something with 30+ mpg that will cost u maybe 100 a month insurance. that alone would save u a boatload between insurance and gas.
clearly.... 19y/o
edit:
lookin nice in the pic - wanna come down to visit me at bragg in a month?
why dumb? because its something that will suck all your money away which is what you're complaining about. when i bought my s2k at 20 (no help from anyone), with 4,5xx miles on it, i KNEW i was going to get raped for a little while with insurance so when i was broke i didn't wonder why. getting raped on rent doesn't help either. 1200? u could b paying on a house for that. once again - throwing away money. you need some big help with your spending habits. spending over 5k a year on insurance alone, spendingr 14k a year on rent. with that kinda rent u could pay off a 100k house in 10 years. if u currently have a rsx - why? even if it's paid off you're spending 3k a year on just insurance for that bad boy which isn't getting any better milage than the s2k. ur best off selling it and getting something with 30+ mpg that will cost u maybe 100 a month insurance. that alone would save u a boatload between insurance and gas.
clearly.... 19y/o
edit:
lookin nice in the pic - wanna come down to visit me at bragg in a month?
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Joined: Sep 2005
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insurance is def. high. I am a male 24 also living in NOVA no tickets no accidents and i pay around $140ish a month with good coverage. Try shopping around.. the first quote i got was high too but i shopped around and went with the lowest quote i got.. which is from nationwide.
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Joined: Mar 2005
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From: Raleigh, NC
$850 a month for your car? Holy hell! You should try to find a way to reduce your monthly bills there, stretch the car payment, find a roommate etc.
If you got the car down to $600 and rent to 1k you'd be saving nearly $500 a month! (6k a year).
I'm at $270/mo car payment (I only financed 10k on my '01) and $110/mo for insurance, $360/mo for rent/util, $30/mo for cell, $50/mo for cable/interwebs.
I'm making the equivalent of $24k/yr right now (last of college fund helps pay bills and I work). I never have an issue paying for things and always have extra funds (going into the car, mostly). My rent is so cheap because I live in a crappy townhouse with my friend. I'll be moving into a house in June with 3 other guys so my rent should stay near the same.
But I graduate in May, and have a job lined up that should pay between $30-40k (I iron out my details this month) so I should be good!
Edit: Totally missed you had 2 cars.
Sell one (RSX) if you can and use that to pay down the s2000. $350/mo for car and if you got a roommate $700 should really find a nice place, you'd be looking at an extra $1k a month, ouch!
If you got the car down to $600 and rent to 1k you'd be saving nearly $500 a month! (6k a year).
I'm at $270/mo car payment (I only financed 10k on my '01) and $110/mo for insurance, $360/mo for rent/util, $30/mo for cell, $50/mo for cable/interwebs.
I'm making the equivalent of $24k/yr right now (last of college fund helps pay bills and I work). I never have an issue paying for things and always have extra funds (going into the car, mostly). My rent is so cheap because I live in a crappy townhouse with my friend. I'll be moving into a house in June with 3 other guys so my rent should stay near the same.
But I graduate in May, and have a job lined up that should pay between $30-40k (I iron out my details this month) so I should be good!
Edit: Totally missed you had 2 cars.
Sell one (RSX) if you can and use that to pay down the s2000. $350/mo for car and if you got a roommate $700 should really find a nice place, you'd be looking at an extra $1k a month, ouch!
Joined: Jan 2007
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From: Bay Area, CA
I think you should sell your RSX (do you need two cars?) and refinance your auto loan, using the RSX money as a down payment. Then find a roommate; you should be able to get a decent place for $600-$800/mo in rent. Then find a new insurance company. If you have a perfect record, $420/mo is ridiculous.