What percentage of your salary should you spend or housing, car note, ...

[DieselGunz]

I dunno about you bro, but I did this same shit right after college, and by the time I was on my 3rd truck in two years, I had a nice stockpile of negative equity built up. Only problem was mum and pops weren't there to dig me out. Live and learn, I 'spose...I am one cheap mofo today!

again leaseing is the way to go

 

[PICK3]

I dunno about you bro, but I did this same shit right after college, and by the time I was on my 3rd truck in two years, I had a nice stockpile of negative equity built up. Only problem was mum and pops weren't there to dig me out. Live and learn, I 'spose...I am one cheap mofo today!

I would like to learn to be a cheap MoFo one day.

Believe it are not I never been "upside down" in any of those vehicles, though I don't have alot of equity in the Ranger presently.

 

[Jon79]

You are dreaming, not even the chinese do that. they spend only 75% of their income. americans spend 101% of their income on average, in other words they save -1% per year.

Not even I can live on 40% of my salary with no loans or debt, the best I was doing was 50%. I guess if you don't have cable or internet and never eat out etc... but that's no fun.

I hope to live on 50% of my income once I graduate again, just hope my income will be double what it was before lol.

jon79 if you actually live on 40% of your income that is very admirable. can you describe it? if you earn $300K/year it probably won't be such an exciting story, but anyway...

no no i am not saying people should do that .....i am saying to live a very comfortable life and not have to worry about money at all and be able to stash alot of cash while you are working so you and your family can travel and have fun......that would be great to be able to do that's all i mean

 

[musclemom]

to not live beyond your means your bills should be no more than 40% of salary

Oh that's funny. So what are you supposed to do with the other 60%??? Save it? Boy credit card companies wouldn't like that ...

But anyway, until this past August my husband's child support payment was 35% of his net salary, they removed one kid and now it's only 23% (and his ex still cries the poor mouth blues).

 

[PWTurbofan]

I would like to learn to be a cheap MoFo one day.

Believe it are not I never been "upside down" in any of those vehicles, though I don't have alot of equity in the Ranger presently.

Damn you did well. On average though, I was trading up every 6-8 months. For my 3rd truck, I wanted a Dodge Dakota...But the dealer said there was no way he could roll that much neg equity into it...So I had to go with the Ram 1500

Unfortunately, I drove it into a parking garage that didn't have one of those clearance bars prior to entry, and I fucked up the roof on her while going down a ramp

 

[Jon79]

Oh that's funny. So what are you supposed to do with the other 60%??? Save it? Boy credit card companies wouldn't like that ...

But anyway, until this past August my husband's child support payment was 35% of his net salary, they removed one kid and now it's only 23% (and his ex still cries the poor mouth blues).

no beyond your means was the wron phrase to use....i just meant to make enough to where you only needed 40 for bills and you could have the other 60 to use for more fun things and for security that's all i mean

 

[PICK3]

Damn you did well. On average though, I was trading up every 6-8 months. For my 3rd truck, I wanted a Dodge Dakota...But the dealer said there was no way he could roll that much neg equity into it...So I had to go with the Ram 1500

Unfortunately, I drove it into a parking garage that didn't have one of those clearance bars prior to entry, and I fucked up the roof on her while going down a ramp

The Dakota cost more than the Ram?

I always worry about mpg especially when I had my full size Dodge truck. I got 11 mpg in the city. But like I said, I only drive <5k miles a year so mpg shouldn't be a big factor. I looked at subcompacts, but now I considering the redesigned 07 Silverado.

 

[PWTurbofan]

The Dakota cost more than the Ram?

I always worry about mpg especially when I had my full size Dodge truck. I got 11 mpg in the city. But like I said, I only drive <5k miles a year so mpg shouldn't be a big factor. I looked at subcompacts, but now I considering the redesigned 07 Silverado.

No, the 1500 is full-sized. There's more wiggle-room with invoice pricing, so he was able to add on the neg equity and still get a bank to approve the loan. He couldn't get it to work on a lower priced Dakota.

Here's my take on subcompacts...I'd always driven trucks. And then me and my bros went to spain and rented a small ass car. And I thought, man this is alot of fun and it's good on gas, tight on curves, and I liked the manual transmission. So I bought an eclipse when I got back. HATED IT. Kept it about 3 months, and then back to the trucks. Everyone drives big vehicles here, and I hated not being able to see over anyone. Just my experience.

If I were gonna buy a new truck today (which while living in NYC ain't gonna happen), I'd go for the F-150 Harley Davidson edition. That is one sweet azz ride.

 

[bran987]

Oh that's funny. So what are you supposed to do with the other 60%??? Save it?

umm.. yes?

 

[DieselGunz]

I would invest it, banks dont give shit for interest rates.


even decent CDs are a joke