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This is a discussion on 2004 wrx vs 2005 tc within the Comparison: WRX vs World forums, part of the Community - Meet other Enthusiasts category; Originally Posted by Yoro721 My thoughts exactly...sounds like something I'd say 7 years ago. Saving for 6months worth of bills, ...

  1. #76
    Registered User sky_night's Avatar
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    Quote Originally Posted by Yoro721 View Post
    My thoughts exactly...sounds like something I'd say 7 years ago. Saving for 6months worth of bills, retirement, college fund for children, and a mortgage; dishing all that cash into a vehicle purchase is...well..it's not smart.
    I was able to pay cash for the car and still have plenty of money in saving (more than 6 months of bills in the bank). Now also keep in mind I keep my monthly expenses very low. I should make one exception to my statement which is I know sometimes they offer 2 or less percent interest on new cars (which in that case I could agree loan is the way to go). Any more than 2 percent and I prefer not to pay interest. Now if I had nothing in savings then maybe that would be a different story. I did the whole get up to your eyeballs and debt, work 60+ hours per week to make minimum payments, etc. That's probably why I don't like having a loan on anything (bad past experience). Also if that oh so bad thing does happen (ie. lose job, major medical, etc.) to you where you need that 6 months of money on hand how would it be good at that point to have a car payment (just one more thing to worry about)? Maybe you should already have the 6 months in the bank AND be able to pay cash. However you do make a very valid point. I just don't believe in paying interest on anything (of course a house would be an exception because how many people have that much cash lying around). I don't live at home and haven't for many...many years. Either way it's really besides the point I was even trying to make which is no matter how you slice it $30,000+ is a lot of money. Even if you make a ton of money you should still value money. The biggest mistake people make is when they start making good money they start spending it like it's nothing. I'm not saying you can't enjoy yourself but the whole point of making more money (for me at least) is so I don't have to worry about money. If I just increase my spending to equal the increase in money then that never happens

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  3. #77
    Registered User cogito's Avatar
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    Quote Originally Posted by sky_night View Post
    I was able to pay cash for the car and still have plenty of money in saving (more than 6 months of bills in the bank). Now also keep in mind I keep my monthly expenses very low. I should make one exception to my statement which is I know sometimes they offer 2 or less percent interest on new cars (which in that case I could agree loan is the way to go). Any more than 2 percent and I prefer not to pay interest. Now if I had nothing in savings then maybe that would be a different story. I did the whole get up to your eyeballs and debt, work 60+ hours per week to make minimum payments, etc. That's probably why I don't like having a loan on anything (bad past experience). Also if that oh so bad thing does happen (ie. lose job, major medical, etc.) to you where you need that 6 months of money on hand how would it be good at that point to have a car payment (just one more thing to worry about)? Maybe you should already have the 6 months in the bank AND be able to pay cash. However you do make a very valid point. I just don't believe in paying interest on anything (of course a house would be an exception because how many people have that much cash lying around). I don't live at home and haven't for many...many years. Either way it's really besides the point I was even trying to make which is no matter how you slice it $30,000+ is a lot of money. Even if you make a ton of money you should still value money. The biggest mistake people make is when they start making good money they start spending it like it's nothing. I'm not saying you can't enjoy yourself but the whole point of making more money (for me at least) is so I don't have to worry about money. If I just increase my spending to equal the increase in money then that never happens
    Your point taken as well. And I do know a few people who can toggle between leveraging cash for outright buy of a car (no interest), while maintaining a decent savings and retirement plan, my hats off to you for your discipline !!! Although I don't think this applies to the majority of the population.
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    Quote Originally Posted by sky_night View Post
    I was able to pay cash for the car and still have plenty of money in saving (more than 6 months of bills in the bank). Now also keep in mind I keep my monthly expenses very low. I should make one exception to my statement which is I know sometimes they offer 2 or less percent interest on new cars (which in that case I could agree loan is the way to go). Any more than 2 percent and I prefer not to pay interest. Now if I had nothing in savings then maybe that would be a different story. I did the whole get up to your eyeballs and debt, work 60+ hours per week to make minimum payments, etc. That's probably why I don't like having a loan on anything (bad past experience). Also if that oh so bad thing does happen (ie. lose job, major medical, etc.) to you where you need that 6 months of money on hand how would it be good at that point to have a car payment (just one more thing to worry about)? Maybe you should already have the 6 months in the bank AND be able to pay cash. However you do make a very valid point. I just don't believe in paying interest on anything (of course a house would be an exception because how many people have that much cash lying around). I don't live at home and haven't for many...many years. Either way it's really besides the point I was even trying to make which is no matter how you slice it $30,000+ is a lot of money. Even if you make a ton of money you should still value money. The biggest mistake people make is when they start making good money they start spending it like it's nothing. I'm not saying you can't enjoy yourself but the whole point of making more money (for me at least) is so I don't have to worry about money. If I just increase my spending to equal the increase in money then that never happens
    Ahhh, lifestyle creep.

    Sounds like you might fit in over on the Money Mustache Forums. The Money Mustache Community - Index

  5. #79
    Registered User sky_night's Avatar
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    Quote Originally Posted by Zataks View Post
    Ahhh, lifestyle creep.

    Sounds like you might fit in over on the Money Mustache Forums. The Money Mustache Community - Index
    LOL very funny

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    Except I wasn't joking?

  7. #81
    Registered User sky_night's Avatar
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    Quote Originally Posted by Zataks View Post
    Except I wasn't joking?
    Last response on this. If that's how you feel about me no worries there. My whole point wasn't even to try and tell people about how to run their lives (it jumped into the conversation do to some replies) but my main point was that calling the STI "not expensive" to me (for what it's worth) is like screaming "I got tons of expendable income". However then he goes on to say he had a loan on the car (ie. the note about a car payment). If you are SOOO rich that an STI is "not expensive" then why do you have the need for a loan??? I get it, there are a lot of more expensive cars out there, but if you have to get a loan to get one yourself I would still consider them expensive to you. Maybe not expensive to some people but to you (referring to the person that made the initial comment), they are expensive. That was the main point I was trying to make... nothing more, nothing less. Oh and by the way I will choose to stay here, not money mustache, thank you very much ;P I will however try to keep my lifestyle opinions to myself in the future (point taken).

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    Quote Originally Posted by sky_night View Post
    Last response on this. If that's how you feel about me no worries there. My whole point wasn't even to try and tell people about how to run their lives (it jumped into the conversation do to some replies) but my main point was that calling the STI "not expensive" to me (for what it's worth) is like screaming "I got tons of expendable income". However then he goes on to say he had a loan on the car (ie. the note about a car payment). If you are SOOO rich that an STI is "not expensive" then why do you have the need for a loan??? I get it, there are a lot of more expensive cars out there, but if you have to get a loan to get one yourself I would still consider them expensive to you. Maybe not expensive to some people but to you (referring to the person that made the initial comment), they are expensive. That was the main point I was trying to make... nothing more, nothing less. Oh and by the way I will choose to stay here, not money mustache, thank you very much ;P I will however try to keep my lifestyle opinions to myself in the future (point taken).

    I'm in agreement with you. I was simply pointing out that, while you're right, most people take loans for things like cars and they can not afford them, there are entire forums dedicated to your (our) line of thinking. It wasn't a dis or a rip but an encouragement and an invitation. And the forum linked and this are not mutually exclusive.

    Yeesh.

  9. #83
    Registered User Yoro721's Avatar
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    Quote Originally Posted by sky_night View Post
    I was able to pay cash for the car and still have plenty of money in saving (more than 6 months of bills in the bank). Now also keep in mind I keep my monthly expenses very low. I should make one exception to my statement which is I know sometimes they offer 2 or less percent interest on new cars (which in that case I could agree loan is the way to go). Any more than 2 percent and I prefer not to pay interest. Now if I had nothing in savings then maybe that would be a different story. I did the whole get up to your eyeballs and debt, work 60+ hours per week to make minimum payments, etc. That's probably why I don't like having a loan on anything (bad past experience). Also if that oh so bad thing does happen (ie. lose job, major medical, etc.) to you where you need that 6 months of money on hand how would it be good at that point to have a car payment (just one more thing to worry about)? Maybe you should already have the 6 months in the bank AND be able to pay cash. However you do make a very valid point. I just don't believe in paying interest on anything (of course a house would be an exception because how many people have that much cash lying around). I don't live at home and haven't for many...many years. Either way it's really besides the point I was even trying to make which is no matter how you slice it $30,000+ is a lot of money. Even if you make a ton of money you should still value money. The biggest mistake people make is when they start making good money they start spending it like it's nothing. I'm not saying you can't enjoy yourself but the whole point of making more money (for me at least) is so I don't have to worry about money. If I just increase my spending to equal the increase in money then that never happens
    Good job. I can see this forum will go full retard once we discuss the pros and cons of established credit, so I will stop contributing.
    2014 WRX 5DR Ice Silver Metallic. Cobb Short Shifter, Invidia Dual N1 CBE.

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