rs2183, what type of business do you own?

 

MOST cars are not an investement. they begin depreaciation as soon as you drive it off the lot. there are a select few that appreciate because of limited production. eg. bentley continential gt

 

seems like alot of money, how long is your lease?

 

if you don't make much money, don't buy it. many people get the car because they qualify, but then end up getting rid of it because they hardly have anything left in their pockets each month.

 

Currently own 2 rent-to-own businesses and are major competitors with rent-a-center in our area (family business). However, moving out of this and closing up one location this april. Moving into importing electronic and general merchandise for wholesale/distribution here in the US. Matter of fact, first shipment coming within two weeks, excited to get started.

rs

 

I bring home about exactly $2000month. Car payment right now (actually I made my last payment last month) is $560, insurance $166, rent $400 (including everything), 2 credit cards with a total of $2000 balance combined, cell phone at $75/month....so my monthly payments are $1400/month, leaves me $600/month or $150/week...believe me its no picnic.

My car payments should go down $100 or so and i turn 25 in 2 days so my insurance should go down a little and one of my credit cards is almost paid off. I would love to save some money, its just not going to happen now; just hoping i can find a good paying job.

 

Hi. My name's Todd and I'm a mod-a-holic... Oops, sorry wrong thread...

How much money you make isn't the issue. It's how well you budget your income. The wife and I do well enough, but we still had to consider if we wanted to have 2 large car payments. Sure we could afford it, but the real question was "is this the smart thing for us to do right now"? Somehow I managed to get her to think that the answer was yes and I haven't brought the subject up since.

 

Trust me your insurance doesn't drop that much when you turn 25. Now when you get married thats a different story.

rs2183.. what type of electronics are you importing?

 

I completely agree. Its all about leaving beyond your meens. I know plenty of people whom make 60-100k a year and cannot afford to keep food in their fridge!

I am 21, still in school, but have a pretty good paying job right now. Thank god I am in the same field I wish to be after I graduate (Investment Banking).

Right now I'm an ast. manager at one of our branches making $33K. I will soon be liscenced in life, health, and accident so I will have a commision back-up aswell.

I still live with my parents, so the financial situation is pretty good for me. My current car is payed off, and I will be using that as a down payment for a used G35 (I was offered 14k from one dealer).

So $28K - $14K - $2K down payment = $12K balance.

$12K x 5% for 60 months gives me a car payment of $226.45.

I had the same payments on my Formula and payed it off w/in 26months. I would like to have this one also payed off w/in the same time frame. I would like to have a zero debt ratio when I go to purchase a condo.

Just remember, DO NOT go "Car Broke". Where every penny of your money goes to payments. You still need to have a good time in life and save for any future "speed bumps" you come across along the way!

Sorry for the long post. Good luck!

 

OEM digital camorders, cameras, usb flash drives, etc. and general merchandise -> batteries, etc.

 

I'm taking my Life and Health exam tomorrow. Need it to become a licensed paraplanner. I already have my series 7 and 66. So you're an asst. manager at a bank? Which bank if you don't mind me asking?

 

Thats cool, who is the oem manufacturer?

 

Good Luck on your test! Wish you the best.

I work for Lincoln Park Savings in Illinois.

I need the liscence to be able to sell alternate investment products (mainly annuity products)

Let me know how the exam goes!

 

Thanks man I need it. I'm gonna give myself a year and try to take the CFP (certified financial planner) exam. So I guess you're a product pusher. So who are you going to work for when you finish school? Since consumer banking is different from investment banking.

 

Not really sure yet. I've met a lot of people in the industry, and hopefully when time comes, they will all be around to possibly offer me something.

I still have 1.5 years to go, so I'm not rushing it.