Finance Turbo set-up?
I don't think credit cards are so evil if you know how to play the cc game with interest rates and also own a home. You do want to build up your credit. My friends have 1 or 2 credit cards that total up to about a $5000 credit limit. My credit cards and home equity limit adds up to $86400 of available credit. It's nice to know you have that chunk of change available to you at any time if you needed it. My friend's are maxed out on their $5k cards and it's a drag having to only use the cash you have on hand that week. I didn't get my credit good enough for that type of limit just by paying cash.
the interest my house makes basically covers my credit card debt when I go to refinance in a couple years. It only works if you don't plan on moving for x amount of years. Otherwise if you go to move out you have no downpayment money for your next house
Everyone should live within their means. I have a lot of debt actually, and I'm sure I'll lose a few thousand dollars in interest over the years, but oh well. My mom would always tell me to take my extra money I make and put it towards my house and that's probably the smart thing to do, but damn I won't reep that benefit until I'm like 50-60 and won't feel like doing stuff as much as now.
generally, I'd tend to say if you're in your 20's, you probably have some debt from college and buying furnature and misc crap for your 1st house etc - and getting married etc. After that you continue to get raises at your job, your house appreciates. You pay off your car which frees up a big monthly bill. Maybe your insurance starts going down after awhile when your speeding tickets from earlier start going off your record. Things turn out fine if you just live within your means. But saving and saving and saving and not enjoying things that are within your means to buy is pretty boring though financially smart
I'd rather be 60 and be able to tell stupid stories of how I did this or that and owned such and such fast cars and did all sorts of crazy stuff with it than to tell people how I saved a lot of money and now using it to play bingo or whatever
a lot of people build their careers starting out using credit cards. Kevin Smith made his first movie using credit cards and that landed him his career. If he waited to save up $28k (doing what btw since he wanted to be a director?) he'd never have been able to do it
more important than having some extra money for an engine rebuild would be a 2nd car. If you blow your engine, you can always take the car off your insurance for a few months while you try to get some money together and can still get to your job with the other car.
modding can get not so fun if the car is costing more than the fun you get. I was actually reasonably happy with my car until I started coming to this site and reading about mods and started feeling like I was missing out if I didn't start buying some mods
the interest my house makes basically covers my credit card debt when I go to refinance in a couple years. It only works if you don't plan on moving for x amount of years. Otherwise if you go to move out you have no downpayment money for your next house
Everyone should live within their means. I have a lot of debt actually, and I'm sure I'll lose a few thousand dollars in interest over the years, but oh well. My mom would always tell me to take my extra money I make and put it towards my house and that's probably the smart thing to do, but damn I won't reep that benefit until I'm like 50-60 and won't feel like doing stuff as much as now.
generally, I'd tend to say if you're in your 20's, you probably have some debt from college and buying furnature and misc crap for your 1st house etc - and getting married etc. After that you continue to get raises at your job, your house appreciates. You pay off your car which frees up a big monthly bill. Maybe your insurance starts going down after awhile when your speeding tickets from earlier start going off your record. Things turn out fine if you just live within your means. But saving and saving and saving and not enjoying things that are within your means to buy is pretty boring though financially smart
I'd rather be 60 and be able to tell stupid stories of how I did this or that and owned such and such fast cars and did all sorts of crazy stuff with it than to tell people how I saved a lot of money and now using it to play bingo or whatever
a lot of people build their careers starting out using credit cards. Kevin Smith made his first movie using credit cards and that landed him his career. If he waited to save up $28k (doing what btw since he wanted to be a director?) he'd never have been able to do it
more important than having some extra money for an engine rebuild would be a 2nd car. If you blow your engine, you can always take the car off your insurance for a few months while you try to get some money together and can still get to your job with the other car.
modding can get not so fun if the car is costing more than the fun you get. I was actually reasonably happy with my car until I started coming to this site and reading about mods and started feeling like I was missing out if I didn't start buying some mods
Last edited by sentry65; Mar 21, 2006 at 01:43 PM.
Originally Posted by sentry65
I'd rather be 60 and be able to tell stupid stories of how I did this or that and owned such and such fast cars and did all sorts of crazy stuff with it than to tell people how I saved a lot of money and now using it to play bingo or whatever
YES!!
Most people are telling him DO NOT PUT THIS ON A CC for a great reason. CC are the number 1 way to get in trouble and most of us older guys are speaking from experience. DON'T DO IT. If you can't afford it now. That's life. I can't afford alot of things I want but I have learned the hard way not to spend money I don't have. Just my .02
Been a member here forever yet haven't posted much until now since this is a route I am going for my turbo install and tune.
Here it is. Got a good deal on a used TN kit for 4k (driven 400 yards guys engine blew). So here I am buying the kit with cash and still have cash left over for the install, tune, and the myriad of other items to be up and running but would rather have the cash left over after the kit just to be safe. I went ahead and got approved on a credit card at ( 0% interest for the first 6 months with a 9% interest rate after that). My disposable income is about $1000(this is after every bill plus gas food etc). I plan on paying off the card at the 6 month point or not long there after.
It all depends on how exactly you plan on doing it. I have been so practical and responsible with my money for so long I felt that for once it was my turn to be a little wild about it. I have talked to my family along with the GF and they all agree that it is my time to get something for myself.
Out of all that I can only say that if you have everything planned out finance wise IE: Payments, cash on hand, paychecks you know are coming to you, go for it, but just make sure you have it all planned out(yes folks I do have the blown engine circumstance planned for).
Here it is. Got a good deal on a used TN kit for 4k (driven 400 yards guys engine blew). So here I am buying the kit with cash and still have cash left over for the install, tune, and the myriad of other items to be up and running but would rather have the cash left over after the kit just to be safe. I went ahead and got approved on a credit card at ( 0% interest for the first 6 months with a 9% interest rate after that). My disposable income is about $1000(this is after every bill plus gas food etc). I plan on paying off the card at the 6 month point or not long there after.
It all depends on how exactly you plan on doing it. I have been so practical and responsible with my money for so long I felt that for once it was my turn to be a little wild about it. I have talked to my family along with the GF and they all agree that it is my time to get something for myself.
Out of all that I can only say that if you have everything planned out finance wise IE: Payments, cash on hand, paychecks you know are coming to you, go for it, but just make sure you have it all planned out(yes folks I do have the blown engine circumstance planned for).
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