How do people afford...

hellogoodbye · 07-19-2009, 09:51 PM

Quote:

Originally Posted by Roo

I did answer the question, why would you pay 13% interest if your making that much in gains each month? Why wouldn't you just put 25% of yours gains a month away till you have enough? And if your making $5-20k a month your talking peanuts.

im paying out of state tuition for college thats 22k for fall and spring and another 4k for summer so thats 26k im paying car insurance as an 18 yr old with 1 speeding ticket so my insurance is high and various other expenses

and ya i can wait to save up but i was looking for what most people do. take out a loan or pay for the parts/labor outright

GingaBreadMan · 07-19-2009, 10:23 PM

Quote:

Originally Posted by hellogoodbye

Im looking at getting a few things done to my z. One of them being a tt kit. for the kit + install its about 11.5k. Im also looking at rims. theyre 1-2kea. and various other mods.
overall with just the basic things that im looking to get its easily over 25k so im wondering how do most people afford this? do you guys just pay it all off at once? or take out a loan?
im thinking i should use a loan b/c i use my money for stocks but, even a 11.5k loan is roughly 250$ a month.

Do what u can afford. U shouldn't get a TT kit right away it's not necessary. U should get 2 know ur car 1st. Decide what u feel needs improvement. Don't mod 4 the sake of modding. I'm gonna start with bolt ons. It's a inexpensive way 2 gain a good amount of power. I will wait until next spring b4 I do that. Down the road, in 5-6yrs I will TT it. That should give me enuff time 2 save up 4 the kit. 2 take out a loan 4 mods is ridiculous. Get ur priorities straight. If u plan on keeping the vehicle 4ever like I do there's no hurry.

Spikuh · 07-19-2009, 11:13 PM

Quote:

Originally Posted by hellogoodbye

its not that i have to finance mods. read my first post if you are confused. i said i have the cash on hand. its just that i make money off stocks. the more money on hand i have the more money i make. so im wondering if i should simply buy the stuff outright or take a loan out since id have more money to work with in the market. i can easily afford the monthly payments.

Sorry, my statement was ment more in the general sense and although you say in your first post you trade stocks, that means relatively little. Case in point, there is a man in my area who has been trading stocks for 15+ years. Long story short, he was running a ponsi scheeme and lost his investors many hundreds of millions of dollars.

Anyway, I agree with m4a1mustang. You are taking a big risk and relying on the market being able to return a larger percentage on your investments than the percent on your personal loan. In my opinion it would be better to buy the mods outright and then focus on getting solid returns without having that extra stress factor weighing on you.

Edit: Just caught up with the rest of the thread. If you can day trade and actually get returns that big then do it. Just be sure not to get in over your head.

Balzdeep · 07-20-2009, 07:21 AM

Bunch of Blah, Blah, Blah. My previous post carries more truth than most of you want to admit...........

rreign · 07-20-2009, 11:50 AM

Roo, If you wouldn't mind, I'd like a PM on your money making skills ,lol.

Robert_Nash · 07-20-2009, 12:16 PM

Look guys; he's 18 years old...does anyone really think he is actually going to listen to your advice/opinions even when he asks for them???

Those of us a couple or more times 18 know what I mean...those that aren't will eventually know!

A line from one of my favorite all-time moves comes to mind "youth is wasted on the wrong people"!

hellogoodbye · 07-20-2009, 12:34 PM

Quote:

Originally Posted by rreign

Roo, If you wouldn't mind, I'd like a PM on your money making skills ,lol.

maybe im teaching my roommate and my RA on the dorm here but the more people that know the less i make. but well see lol

Quote:

Originally Posted by Robert_Nash

Look guys; he's 18 years old...does anyone really think he is actually going to listen to your advice/opinions even when he asks for them???

Those of us a couple or more times 18 know what I mean...those that aren't will eventually know!

A line from one of my favorite all-time moves comes to mind "youth is wasted on the wrong people"!

just cause im 18 doesnt mean i wont listen to advice or opinions. i didnt ask a question so i can pick the answer i like most or have the right answer already.

ZKindaGuy · 07-20-2009, 12:34 PM

Quote:

Originally Posted by Balzdeep

Bunch of Blah, Blah, Blah. My previous post carries more truth than most of you want to admit...........

I agree with you but I think the stimulus thing I mentioned will serve to skew the reality that will be happening that you speak of. It will create the usual hosue-of-cards effect.

edeeZee · 07-20-2009, 12:44 PM

Quote:

Originally Posted by hellogoodbye

maybe im teaching my roommate and my RA on the dorm here but the more people that know the less i make. but well see lol

Pyramid scam, multi-level marketing?

rreign · 07-20-2009, 12:54 PM

Well, I was talking to Roo anyway. I'm 25 and do pretty well for myself. Not to be too big of a prick but I wouldn't take advice from an 18 yr old on anything financially related.

havasuwiley · 07-20-2009, 07:31 PM

pay cash or wait..

hellogoodbye · 07-20-2009, 10:40 PM

Quote:

Originally Posted by edeeZee

Pyramid scam, multi-level marketing?

no pyrimid scam im simply gonna teach him the technique of what i do. hes gonna buy his own stocks using the advice i give him. im not going to tell him what im investing in either.

Quote:

Originally Posted by rreign

Well, I was talking to Roo anyway. I'm 25 and do pretty well for myself. Not to be too big of a prick but I wouldn't take advice from an 18 yr old on anything financially related.

thats fine lol

Roo · 07-20-2009, 11:28 PM

Can you post a screenshot of your portfolio?

Pushing_Tin · 07-21-2009, 12:31 AM

Robert_Nash · 07-21-2009, 12:43 AM

Day-traders keep bankruptcy attorneys in business...if you look in the dictionary for "day traders" is just says "see financial disaster".

The only actions more devastating to financial health is medical debt and gambling (odds are gambling is a better bet; pun intended).

07-20-2009, 07:21 AM	#64 (permalink)
Balzdeep Base Member Join Date: Jul 2009 Location: SW Mizzou Posts: 17 Drives: Many Rep Power: 15	Bunch of Blah, Blah, Blah. My previous post carries more truth than most of you want to admit........... __________________ Current:08 CSRT4 ED downpipe, RT Clamp, AGP wg, MS1, S1 injectors, PTP inlet pipe, etc. *Dyno 7/11/09 - 350/353 fwhp

07-20-2009, 12:16 PM	#66 (permalink)
Robert_Nash Track Member Join Date: Jan 2009 Location: Middle TN/Savannah GA Posts: 762 Drives: '14 Q60IPL/'14Armada Rep Power: 17	Look guys; he's 18 years old...does anyone really think he is actually going to listen to your advice/opinions even when he asks for them??? Those of us a couple or more times 18 know what I mean...those that aren't will eventually know! A line from one of my favorite all-time moves comes to mind "youth is wasted on the wrong people"! __________________ Robert -My Basset Hound Is Smarter Than Your Honor Student and Barack Obama -

07-21-2009, 12:43 AM	#75 (permalink)
Robert_Nash Track Member Join Date: Jan 2009 Location: Middle TN/Savannah GA Posts: 762 Drives: '14 Q60IPL/'14Armada Rep Power: 17	Day-traders keep bankruptcy attorneys in business...if you look in the dictionary for "day traders" is just says "see financial disaster". The only actions more devastating to financial health is medical debt and gambling (odds are gambling is a better bet; pun intended). __________________ Robert -My Basset Hound Is Smarter Than Your Honor Student and Barack Obama -

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07-20-2009, 11:50 AM	#65 (permalink)
rreign A True Z Fanatic Join Date: Apr 2009 Location: South Carolina Age: 40 Posts: 2,341 Drives: 03 Evo 8 Rep Power: 709	Roo, If you wouldn't mind, I'd like a PM on your money making skills ,lol.

07-20-2009, 12:54 PM	#70 (permalink)
rreign A True Z Fanatic Join Date: Apr 2009 Location: South Carolina Age: 40 Posts: 2,341 Drives: 03 Evo 8 Rep Power: 709	Well, I was talking to Roo anyway. I'm 25 and do pretty well for myself. Not to be too big of a prick but I wouldn't take advice from an 18 yr old on anything financially related.

07-20-2009, 07:31 PM	#71 (permalink)
havasuwiley Base Member Join Date: Jul 2009 Location: lake havasu city az Posts: 131 Drives: 09 370z, 03 z06 etc Rep Power: 15	pay cash or wait..

07-20-2009, 11:28 PM	#73 (permalink)
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07-21-2009, 12:31 AM	#74 (permalink)
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