getting an apartment

[TechBoyJK]

Originally posted by: tfinch2

Originally posted by: TechBoyJK

Originally posted by: AgaBoogaBoo

Originally posted by: TechBoyJK

Originally posted by: AgaBoogaBoo
Can you bring your cell phone payment down at all? AT&T offers discounts if you get their DSL, cell phone, etc. services bundled together.

Also, as Injury said, that's an expensive car payment and a bit of money going to your fun category. Is the car payment a very short loan? If so, that's good, but if it's high because you have an expensive car, I guess that's your choice then

It's an 04 BMW z4. My credit isn't the best, and bmw is the only dealer that would give me less than 10% interest on a car.. I got this car for 3%... It's crazy how a honda that was $10k cheaper with higher interest almost cost as much each month. It's an expensive car.. and I'm keeping it. =)

That's fine, but just for discussion/argument sake, the Honda was probably a much shorter loan period.

nope.. the best I could get was like 9% minimum on a honda, and even with both being 5 year loans. the bmw was cheaper, and it was worth more..

5 years@$540 a month?!?!? :shocked: This just keeps getting worse.

You're spending about 40% of your take-home pay on your car (depreciating asset at that).

Up until last month, the car was only 22% of my take home pay. I'll take home about $3,000 or more next month, so the car will be 18% of that. I've been able to make the payment just fine for the past year, and I haven't really felt stressed by it. The car is so fun to drive!!

I love the car. It's a reward for all the hard work I've done in the past.

 

[Homerboy]

ONLY 22% of your take home pay? Son, people's HOUSES don't cost that much.
LOL this, in addition to the WoW thread are in the runnings for threads of the week.

Honestly, if you can't even figure out if an apparent is "good" then maybe you shouldn't be out on your own...

 

[Svnla]

OP, cut back on your cell phone. Sprint SERO = $30 FTW (with unlimit data/text/internet) plus 500 anytime minutes and unlimit minutes after 7 p.m.

Gas will be lower since you will walk to work. What's the $80 to park? You have to pay to park at the apartment or at work?

You also need renter insurance. Electric will be high during summer for cooling.

You need to plan to put some money on raining day/emergency fund and retirement fund ($100 per month save from the cell phone bill will be a good start)

 

[Scarpozzi]

Originally posted by: TechBoyJK

Originally posted by: tfinch2

Originally posted by: TechBoyJK

Originally posted by: AgaBoogaBoo

Originally posted by: TechBoyJK

Originally posted by: AgaBoogaBoo
Can you bring your cell phone payment down at all? AT&T offers discounts if you get their DSL, cell phone, etc. services bundled together.

Also, as Injury said, that's an expensive car payment and a bit of money going to your fun category. Is the car payment a very short loan? If so, that's good, but if it's high because you have an expensive car, I guess that's your choice then

It's an 04 BMW z4. My credit isn't the best, and bmw is the only dealer that would give me less than 10% interest on a car.. I got this car for 3%... It's crazy how a honda that was $10k cheaper with higher interest almost cost as much each month. It's an expensive car.. and I'm keeping it. =)

That's fine, but just for discussion/argument sake, the Honda was probably a much shorter loan period.

nope.. the best I could get was like 9% minimum on a honda, and even with both being 5 year loans. the bmw was cheaper, and it was worth more..

5 years@$540 a month?!?!? :shocked: This just keeps getting worse.

You're spending about 40% of your take-home pay on your car (depreciating asset at that).

Up until last month, the car was only 22% of my take home pay. I'll take home about $3,000 or more next month, so the car will be 18% of that. I've been able to make the payment just fine for the past year, and I haven't really felt stressed by it. The car is so fun to drive!!

I love the car. It's a reward for all the hard work I've done in the past.

You mean future, right? Cause you haven't paid it off yet.

 

[TechBoyJK]

Originally posted by: Homerboy
ONLY 22% of your take home pay? Son, people's HOUSES don't cost that much.
LOL this, in addition to the WoW thread are in the runnings for threads of the week.

Honestly, if you can't even figure out if an apparent is "good" then maybe you shouldn't be out on your own...

I know I sidetracked myself, but I won't figure out if the apartment is good until I go look at it.

My original point for the thread was making sure I had taken everything into consideration, expenses, etc.. so that I could forcast what my costs will be. My base salary is only $2,000 per month, but I earn alot of commissions. I was hoping to squeeze my expenses within $2,000, but it looks like living comfortably, before any savings, is going to cost me $2,300. I'll average at least $1,000 per month in commissions (very conservative). I suspect within 3-4 months I should be debt free (minus car). After that, I'll be able to pocket anything I earn or don't spend over $2,300.. I've already got several contracts on the table that if any one execute, will earn me at least $6k-$7k on top of salary. I'll probably earn $70k-$80k this year, if not more.

 

[TechBoyJK]

Originally posted by: Scarpozzi

Originally posted by: TechBoyJK

Originally posted by: tfinch2

Originally posted by: TechBoyJK

Originally posted by: AgaBoogaBoo

Originally posted by: TechBoyJK

Originally posted by: AgaBoogaBoo
Can you bring your cell phone payment down at all? AT&T offers discounts if you get their DSL, cell phone, etc. services bundled together.

Also, as Injury said, that's an expensive car payment and a bit of money going to your fun category. Is the car payment a very short loan? If so, that's good, but if it's high because you have an expensive car, I guess that's your choice then

It's an 04 BMW z4. My credit isn't the best, and bmw is the only dealer that would give me less than 10% interest on a car.. I got this car for 3%... It's crazy how a honda that was $10k cheaper with higher interest almost cost as much each month. It's an expensive car.. and I'm keeping it. =)

That's fine, but just for discussion/argument sake, the Honda was probably a much shorter loan period.

nope.. the best I could get was like 9% minimum on a honda, and even with both being 5 year loans. the bmw was cheaper, and it was worth more..

5 years@$540 a month?!?!? :shocked: This just keeps getting worse.

You're spending about 40% of your take-home pay on your car (depreciating asset at that).

Up until last month, the car was only 22% of my take home pay. I'll take home about $3,000 or more next month, so the car will be 18% of that. I've been able to make the payment just fine for the past year, and I haven't really felt stressed by it. The car is so fun to drive!!

I love the car. It's a reward for all the hard work I've done in the past.

You mean future, right? Cause you haven't paid it off yet.

No I haven't paid it off yet, I put enough down that if I sell it out right, it will more than pay off what I owe.

 

[TechBoyJK]

Originally posted by: Svnla
OP, cut back on your cell phone. Sprint SERO = $30 FTW (with unlimit data/text/internet) plus 500 anytime minutes and unlimit minutes after 7 p.m.

Gas will be lower since you will walk to work. What's the $80 to park? You have to pay to park at the apartment or at work?

You also need renter insurance. Electric will be high during summer for cooling.

You need to plan to put some money on raining day/emergency fund and retirement fund ($100 per month save from the cell phone bill will be a good start)

Does the Sprint SERO allow tethering?

 

[rezinn]

Originally posted by: TechBoyJK
EDIT: Here is what I think my monthly expenses would be... It's under what I've been earning for the past year by $50 each month (not much), but its about $300 over the $2,000 budget (which is "guaranteed" salary). I expect I will actually earn much more than $2,000, so I would be completely comfortable taking on a $2,300 budget if needed, as I could just back off how much "fun" i have, how much I drive, and not splurge on expensive foods.

Car Payment - $540
Insurance - $110
Cell Phone - $130
Food - $200
Fun - $150
Gas - $150
Cable Internet - $30
Electric - $150
Parking - $80
Rent - $615
CC Payments - $150

Total - $2,305

EDIT: my reasoning for starting this thread was to ask about expenses... what are some other expenses I might have to deal with??

$150 for electricity seem pretty high. you could probably cut this by 70% if you tried.

Other expenses - car maintenance, gifts, dates, emergency plane ticket fare, laundry, water, waste disposal.

If you expect to make 90 grand this year you'll only need to save money short term, so just get rid of the fun/gas and cut back on electricity use and food expenses.

 

[Injury]

Now that I read more of the thread and find out about the car, you need to check whether the apartment has a SECURED parking garage (preferably with a designated space and a maybe even a way to lock your car up so no other residents can mess with it.) If there is no secured garage, you should factor in a monthly rental for one.

Keep in mind that moving in to the city could (and probably will) raise your insurance costs, too.

Sorry if it seems like we're grilling you too much.

 

[TechBoyJK]

Originally posted by: Injury
Now that I read more of the thread and find out about the car, you need to check whether the apartment has a SECURED parking garage (preferably with a designated space and a maybe even a way to lock your car up so no other residents can mess with it.) If there is no secured garage, you should factor in a monthly rental for one.

Keep in mind that moving in to the city could (and probably will) raise your insurance costs, too.

Sorry if it seems like we're grilling you too much.

No its ok. I went through this with ATOT when I bought the car too.

I already pay $80 per month for parking that comes out of my paycheck. The apartment is 4 blocks from where I work, with the garage being almost in the middle. If the apartment wants anymore for parking, I may just leave it at the current garage. I've been using it for 2-3 years now without a problem.

 

[Svnla]

Originally posted by: TechBoyJK

Originally posted by: Svnla
OP, cut back on your cell phone. Sprint SERO = $30 FTW (with unlimit data/text/internet) plus 500 anytime minutes and unlimit minutes after 7 p.m.

Gas will be lower since you will walk to work. What's the $80 to park? You have to pay to park at the apartment or at work?

You also need renter insurance. Electric will be high during summer for cooling.

You need to plan to put some money on raining day/emergency fund and retirement fund ($100 per month save from the cell phone bill will be a good start)

Does the Sprint SERO allow tethering?

Some say it does but personally, I haven't try it. My speed is only 1X here and not EV due to BFE location. I have no problem with EV speed in Dallas or big cities.

Go to the Gadget area and ask those that used it.

Like I said, you have a lot of fat on your budget. Make a list of WANTS vs. NEEDS and see you can trim some more.