Set up automatic bank transfers to chop your income into % parts: 5% play money, 20% savings, bills etc. do what works for you. Get rid of unnecessary subscriptions.
I don’t have enough to chop my money into anything other than 75% rent, 20% car payment, 5% food for my dog.
But I do put that rent and car payment in a savings account and pay from that. Those fractions of a penny per month add up; after 5 years I have 77 cents in my savings account!
I’ve got a 2012 Mazda 3. Bought it in 2016. Still runs well, no major issues so far. The tools I use to track my net worth track its value as part of that, and they say it’s worth around $4000 now. I wouldn’t have an issue with buying a ~5-10 year old car if it was well-maintained, and those shouldn’t cost that much.
Yes, the used car market is full of predators charging 200% more than what a junker is worth because there’s nothing stopping them. And I also agree that keeping the minimum wage literal decades behind productivity breeds an environment where people are assigned a made up number that tells banks it’s ok to gouge this person on interest rates. Full agreement with you there.
Sure, since we’re under capitalism I’ll have to check your imaginary number and then require a minimum monthly payment of 11 cents for the next 4 years.
Set up automatic bank transfers to chop your income into % parts: 5% play money, 20% savings, bills etc. do what works for you. Get rid of unnecessary subscriptions.
I don’t have enough to chop my money into anything other than 75% rent, 20% car payment, 5% food for my dog.
But I do put that rent and car payment in a savings account and pay from that. Those fractions of a penny per month add up; after 5 years I have 77 cents in my savings account!
20% to a car payment is stupid
It’s more expensive to move somewhere a car isn’t necessary.
Why not buy an second-hand car instead? One that’s known to be reliable, like a Mazda 3, Toyota Corolla, etc?
Just because some areas need a car to get around, doesn’t mean people need to have high car payments every month.
Have you seen the prices of used cars lately?
I’ve got a 2012 Mazda 3. Bought it in 2016. Still runs well, no major issues so far. The tools I use to track my net worth track its value as part of that, and they say it’s worth around $4000 now. I wouldn’t have an issue with buying a ~5-10 year old car if it was well-maintained, and those shouldn’t cost that much.
And necessary in many situations.
Yes, the used car market is full of predators charging 200% more than what a junker is worth because there’s nothing stopping them. And I also agree that keeping the minimum wage literal decades behind productivity breeds an environment where people are assigned a made up number that tells banks it’s ok to gouge this person on interest rates. Full agreement with you there.
Hey, it’s your brother. Can I borrow 76 cents?
Sure, since we’re under capitalism I’ll have to check your imaginary number and then require a minimum monthly payment of 11 cents for the next 4 years.