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At my current job I bring in about $2,400 per month. I have no debts at all, but after taxes are taken out and I pay rent on my 1 bedroom apt, buy food, pay utilities, etc. it seems like I hardly have enough "play" money. Certainly not enough to afford a $400 - $500 car payment.

However, I just got a much better job that I start next week. I'll be bringing in between $6,500 - $7,500 a month depending on how much OT I work. Even though it's quite a bit more money, a $500 car payment still seems crazy to me... but then again i'm pretty conservative with my money. But I really really really like the new charger and I need a new car ASAP.

I just don't understand how some people do it. How much money do most of you bring in a month? Of course if you're not comfortable talking about it there's no need to answer.

thanks
 

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while I will not comment on what I make... I would never go for a payment of more then 3-400 a month, and not longer then a 5 year loan...

I do have some friends who are paying $800 a month car/truck payments... and I have no clue how they can rationalize that...
 

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Making $78,000.00 to $90,000 a year a $ 500.00 to $650.00 depending what options you pick should'nt be a problem.... our combined household income is approx. $102,000.00 and it takes about $4,200.00 a month to run the household ( all bills) and we are able to swing it with no problem. Just don't put away as much for retirement. Guess will have to sell it for expense money when I retire LOL....
 

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Maybe I should finally sack up and propose to my girlfriend of six years, then I could do the whole combined income thing. But then again that means diamond rings and other expenses... :(
 

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JohnnyV said:
Maybe I should finally sack up and propose to my girlfriend of six years, then I could do the whole combined income thing. But then again that means diamond rings and other expenses... :(
Being married is waaay cool JohnnyV! Tracy & I have been married for 27 yrs. Can't put a price tag on that!! Well, you can, but you know what I mean :happy: Mike / ok ok, I hear all the jeers guys, but a lot of ya feel the same!! :wink: :)
 

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Lets just say that I have approx $1,300 a month for "PLAY" money! :grin:
 

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The sad truth is that there are many people out there driving cars they can't afford. I know a guy who drives a twin turbo Cayenne. I'm guessing he makes around 70-80 grand a year. Now that's a pretty good living, but I still don't understand how he can juystify buying a car like that.
 

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Im not going to say.....but I make enough to buy viper if I want, but I have a 2.5 year old and I need the Family "SRT-8" wagon....HEHEHE
 

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At this point, not enough to buy the car. But because I (and my wife) will comission in the AF in Dec my bank will give a pre-comissioning loan and defer payments for 6 months. I still have to come up with some money, but not too much.

Then after that, both my wife I and will be getting AF paychecks so we should be in the 80K range.

edward
 

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JohnnyV said:
At my current job I bring in about $2,400 per month. I have no debts at all, but after taxes are taken out and I pay rent on my 1 bedroom apt, buy food, pay utilities, etc. it seems like I hardly have enough "play" money. Certainly not enough to afford a $400 - $500 car payment.

However, I just got a much better job that I start next week. I'll be bringing in between $6,500 - $7,500 a month depending on how much OT I work. Even though it's quite a bit more money, a $500 car payment still seems crazy to me... but then again i'm pretty conservative with my money. But I really really really like the new charger and I need a new car ASAP.

I just don't understand how some people do it. How much money do most of you bring in a month? Of course if you're not comfortable talking about it there's no need to answer.

thanks

Please do not calculate OT in your monthly financial numbers.(Banks will not accept OT in the GROSS income reported for lending anyways) You never know when it can go away. Always have 3 months salary in savings that you do not draw from, for lean times.

Yes, the days of a $250-300 monthly car note are gone unless you will drive a $12,000 vehicle.


If you are netting $6,500 a month, (I beleive you will be grossing) 10% or a $650 monthly nut on payment should be no problem depending on yur other liabilities. Then you need to factor in the insurance costs and monthly fuel bill. Then throw in another $50-$100 a month for savings for mods or accessories.

It runs me about $850 a month to pay my expenses on a vehicle.
 

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I won't comment on how much I make, but i will tell you how I am able to swing the deal on my Daytona.

Bought a '98 Durango in '98, payments were $375 for 5 years. Paid it off in '03, but kept making payments to myself in a savings account, and I am still putting money in, until my Daytona arrives. I got $7500 for the Durango in trade, and I'll put down $11K cash, so my payments will be about $340/mo for 5 years.
 

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I own my own business so I'm able to have play money. Put us on the internet during it's infancy in '93, guess you could say we were an 'internet success story' - grew 700% for 3 years straight. My dad started the business (I did not get it 'given' to me either BTW) in '87 and was posting around $30k a year gross - he was doing only the service part of the business, laminating paper products for printers and doing Amway on the side. He was looking to sell the business in '92 for $50k, I talked him out of it until I got out of the Navy in '93. I brought in computer/internet knowledge and put some lamination pouches and small office machines on the web on a 5 page website. First sale was $43,000, more than he posted the entire year before. From there it just skyrocketed. We are currently hovering with the economy around the 1.2M mark per year. I bought my dad's half out four years ago for 500k and gave him a 40' motorcoach to retire & travel. He made out well on me building the business, but hey, he's my dad so I gave him & my mom a decent retirement - they brought me into this world and brought me up with good values, even though it took me some growing up to get back to them. The business affords me to fund a 3 motorcycle drag race team, have my toys, let my wife stay home with the kids, etc. I utilize a lot of automated equipment to keep personal to a minimum and the associated costs like healthcare, payroll, etc. to a minimum too. The business will be my retirement someday, but at 38, that will be a while. Right now the race team is on track to be making a real good attempt at fielding a Pro Stock Motorcycle in 2008. Payments on my wifes 2005 Durango Limited we bought last week are $687/60mo and the Daytona's are $675/60mo, mortgage is $3400 a month, race rig - Freightliner hauler payment is $875/240mo. Is that enough? :D Yes, I do have kids too - 4yr & 10yr, both girls that will be making my hair go gray way too early and probably give me ulcers or drive me to drink when they start chasing boys, but I figure that is my penance for being such a wild child when I was growing up! :confused:

You can't take $$$ to the grave so you might as well spend it while you can! Way I figure, I could pay cash for most things, but that doesn't keep your credit score way up there, I pay on 'normal' payment schedules with decent down payments and my beacon stays over 780 which rewards me with real low finance rates.

DRIVE IT LIKE YOU STOLE IT!
 

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After I sell my truck, I should have about 35% of the money (the credit union I'm getting my loan thru reqires a 15% downpayment), then I will have a $485 a month payment for the next 4 years. If I find myself coming up a little short at anytime, I can find a way to make a couple hundred $$ in a day or two doing odd jobs (it pays to be Sober Cab at parties!!!)
 

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Not to say what my total houshold income is but, I can afford the payments on $35k. :wink: My plan is to write a check out of my home equity line. I have a few investments that are paying dividends that I'd like to keep some of the income being raped by the tax man. My home equity loan is an intrest only type (currently @ 3 7/8%) so I have the option to pay intrest only if things go south or pay chunks of the principal if they continue on the good side. If I can pay it off in less than 5 years that's great but I can run it as long as 15 if I need to (GOD forbid that chance :cry: )
 

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Great story TATTOOMAN. I wish I could have been as resourcefull when the time was right. I took a bath on AOL. After the TIME/WARNER deboccal I cut my loss and ran.
 

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I believe that I started a thread on this a while back.



But, because youre new, ill let it slide. :)


John
 

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I make alot but more would be better.
 

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This is the way I did it.

Work your ass off to save a chunk.

Start your own business. (Something you love to do is preferable)

Incorporate it in Nevada. No state income tax, and with the right shields no federal either. This could be done even if all you did was day-trade. Costs about a grand to do. Annual maintenance is about $300.00.

Re-invest almost all back into it for 5-10 years.

As long as the income flow is $50,000 a year or more, and you are not being stupid with your flow, you shouldn't have too many worries for the rest of your life.

IMPORTANT POINT!!!
As of right now, try not to invest in real estate in major areas unless it is a complete steal. I am in South Florida. I bought a house in January this year and sold it in March and made $50,000 putting $2k into the repairs.
THIS BUBBLE WILL BURST!

:)
 

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My formula:

Sell AUTHENTIC high end watches on E-Bay on the side (ie. Tag Heuer, Omega, Breitling, Rolex etc.) and use some of your $200,000 in home equity!

:grin:
 

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Well belive it or not I make around $400,000 a year, just so you you guys know thats if its a good year. Thats why I got a Rolls Royce and you can go check it out on cardomain.com my sceen name on there is 300touring.
 
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