LOL you're right, I didn't mean to pester him he just sounded so worried in his first post that it's hard not to cringe at someone buying something when they seem to be doing it out emotion not out of logic and they make a post where they clearly want to be talked into it.

I'm 23 and have an S2k but I paid cash for it and owe nothing, I have owed money for things in the past and I can't speak for everyone but for me, it's the worst feeling in the world. If you like being broke, more power to ya.

As far as 401k's going down, those investments don't just steadily go up, they go up and down throughout their life span, just because it went down is no reason to worry, it's a VERY long term investment. You can track any investment that has made decent returns in the past 30-40 years and if you narrow it down by year, they've all had some horrible years.... it's the people that freak out and sell during those years that end up losing big.

 

Thanks!

I grew up very poor, and also put myself through college, so I definitely know how to be cheap. But also, where I am is much cheaper to live than LA.

I was very lucky to have bought my house back in '03 when mortgages were at an all time low. I was able to lock in 5.25%, making my total monthly payments now around $900 including all insurance, taxes, etc. Even though I could hardly make ends meet back then, it's definitely worth it!

My mortage is almost half of my take home salary. It's sad really, especially considering that I'm one of two who have graduate degrees in my company. I make it hard on myself though because I live so well on so little.

I don't have cable, but I have a Media Center PC and an HD antenna. I can record and timeshift two shows at once, all without paying anyone for it. I also download whatever other shows I want. I also have never had a home phone hooked up here, I just use the cell.

I could write a blog on all the things that can be done to save cash and live well. Sadly, most won't listen. They'd rather spend $6 on their venta mochachinos from Starbucks.

 

congrats on your car

like you i just got mine recently too, you got a way better deal though
i paid 17 OTD for a 05 silverstone with 26k.

but none the less couldnt be happier!

enjoy your car man. i know i will!

 

I did something similar when I bought mine. I did have a large CD as backup which I could prematurely cash in, but I basically saved up until I had 2-3k over the OTD price and paid cash.

If you're paying cash for a car, you've got some kind of grasp on your finances. I'm 23 and most people my age have nothing in their bank account and buy a $30k car just because they can swing the monthly payment in their current situation. People are shocked when I tell them I paid cash like it's unheard of.

I think it's better to get the fun car while you're young. My dad always wanted a Corvette, but now that he's able to get it, he says he doesn't want to be another old guy in a sports car.

 

Yeah, exactly. Can you really enjoy a car like that when your old as much as you can while your at just the right age to be both young AND responsible?