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Money Matters
Financial, Stock, Investment etc. posts here.

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Old 01-06-2012, 07:27 PM   #121
pawa_k2001
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I started to listen to Dave Ramsey recently. I don't have a problem with debt(zero debt) but I do spend every check on my cars and myself. Just started saving some money for emergencies. It feels good but budgeting is killing me. Hopefully I will be able to stick to the 15% rule.
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Old 01-07-2012, 12:30 PM   #122
Wraisil
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Getting onto a budget is like quitting smoking. You know you should do it, but spending that money just feels so damn good! Give it some time, however, and you may end up like me; constantly looking for ways to spend a little bit less because watching savings/retirement account balances go up is addictive! I have automatic payments to my 401(k), savings account, brokerage account, and car loan but make at least 1 additional "payment" into each at least monthly.
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Old 01-07-2012, 05:25 PM   #123
pawa_k2001
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It is addictive to watch the money accumulate but there is just so much that I want.

E46 M3 new Evolve exhaust(adjustable tone)
2 piece suit for my motorcycle
new rear tire for the motorcycle
square setup for my M3
bits and pieces to finish my project GTi

I am trying to set aside money in my budget that I can spend on my toys. I don't know what is a good amount to set aside month for my toys. I used to buying what I want without waiting for my budget to allow it.
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Old 01-14-2012, 10:01 AM   #124
BimmerFerret
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Well I sold the BMW
Started two Roth IRA accounts - I'll be maxing my 2011 contribution at the end of this month. For those that don't know, you have until APRIL 15th to max your previous year contributions on a Roth IRA. I thought it was 12/31/2011, but I was wrong.
My wife has started her 401(k) with 10% investment

Just have about $7.5k or so left on debt (non credit card) and we are done. Once that is out of the way I'll be considering a low mileage car. I'm ready for something a little more sportier than the Bimmer...
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Class of '03, yet you're still an idiot. Whats your point? Do you really think that you're somehow a god because you joined a site before someone else? ****ing nerd.
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Old 01-20-2012, 01:27 PM   #125
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Well I'm about to take on significantly more debt. I'm selling my house (under contract, closing in March) and looking for a bigger house. The payments are going to suck, but I think it is worth a short term discomfort given the ridiculous interest rates right now (3.75%).
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Old 02-19-2012, 06:33 PM   #126
BimmerFerret
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Yeah interest rates are insanely low. I'm on a 15 yr @ 4.5% and I am seeing 3.00% for 15 year mortgages now... Almost worth considering another re-fi lol. If I were do re-fi @ 30 years I could lower my payment by a ton, but then I would be owing on my hours for eternity...

I think I'm going to stick with what I have right now and just pay more towards the house soon.
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Class of '03, yet you're still an idiot. Whats your point? Do you really think that you're somehow a god because you joined a site before someone else? ****ing nerd.
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Old 02-23-2012, 09:29 AM   #127
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^Check to see how much it would save you to refi at 3% for 15yr. It might save hundreds that you could then put towards the principle.


I got locked in on my new house at 3.75% on a 30yr fixed. Right now I'm spending a ton of money on repairs at the house I'm selling, but we're closing next week and I can't wait to get out of there. It should be interesting to have to deal with the new house payment....always a tough pill to swallow, but I'll get used to it.
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Old 04-30-2012, 02:00 PM   #128
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I used his debt snowball to help me dig out of roughly 20k in cc debt I built up in my early 20's.

Shiz works.
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Old 05-01-2012, 02:45 PM   #129
Wraisil
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Well, I won't be making additional monthly payments on my car loan anymore....


Because it's paid off!

$19.9k, 364 days later and she's all mine

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Old 05-03-2012, 03:53 PM   #130
SLVR JDM
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Nice work! Feels good to have no car payments!
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Old 05-04-2012, 08:43 AM   #131
Wraisil
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Nice work! Feels good to have no car payments!
It sure does

I'm hoping to make this car last another 6+ years. It will be nice to have that extra money to add to savings etc for a few years while also building up money for my next car over time.
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Old 05-04-2012, 10:50 AM   #132
BmwMan325
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Well, I won't be making additional monthly payments on my car loan anymore....


Because it's paid off!

$19.9k, 364 days later and she's all mine

Nice! I have a 2011 g37xs and I have about $15,000 financed on it. I got the 1.9% financing through infiniti. I could pay the car off now with cash but I'm investing in real estate so it doesn't really make sense to pay off the total amount. I just add an extra $80-$100 a month to my payment to increase the payoff time.
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Old 05-24-2012, 03:49 PM   #133
evolved
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So, I've finally gotten around to reading Total Money Makeover (as opposed to just skimming it online and in print) and it's mostly pretty good. However, his debt section I'm not really a fan of. He makes (fairly obvious) points about payday lending, high interest personal loans, leasing cars, etc. which I agree with. However, saying all debt is bad and ignoring the idea of leverage is something that I can not get on board with. He speaks of high net worth individuals paying cash for everything (including real estate) which I have found to be untrue. He also goes on to talking about publicly traded companies that don't utilize debt. It just seems to be the opposite of everything I've ever been taught.

On a personal note, I'm considering trading in my MS6 for a beater so that I won't have any payments (I have about 8k in equity in the car). I've been wanting something a bit smaller so I would save the difference in payment to purchase that down the road......still haven't decided.
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Old 08-07-2012, 03:20 PM   #134
BimmerFerret
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Hi all,

It has been some time but I thought I would check in. I decided to take a risk and quit my career in finance to pursue something different. After about 3 months I realized the change wasn't for the best. I gave car sales a shot (don't laugh). Obviously loving cars is very different than selling them. Long term it just wasn't going to work. I took a pretty massive income hit, but I'm looking to return to the field now. Not because of the income hit, but my commute was very long, also the hours were pretty strenuous. I also didn't see my friends and family as much anymore. Honestly to me, that is more important.

I can't screw around anymore. It is time to get real. I've committed to start CPA training in September.

Debt wise I got my G37S (yay new car ), a timeshare, and some credit card debt (yes I screwed up).

I'm looking at:

$19k G37S
$5.6k Timeshare
$2.2k Credit Card - This was spending money in Europe


I have enough in savings to pay most of my debt off; however, I'm holding on to the cash while I switch positions. My job selling cars ends this Friday. I'll probably be waiting tables until I can get my CPA or another position in Finance...

As for DR, the only thing I don't exactly see eye to eye on him with is the 12% investment returns. It is great not to have debt. I'm gonna get back there!
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Quote:
Originally Posted by Roxlo View Post
Class of '03, yet you're still an idiot. Whats your point? Do you really think that you're somehow a god because you joined a site before someone else? ****ing nerd.
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Old 08-07-2012, 05:35 PM   #135
lilregulator
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Quote:
Originally Posted by BimmerFerret View Post
Hi all,

It has been some time but I thought I would check in. I decided to take a risk and quit my career in finance to pursue something different. After about 3 months I realized the change wasn't for the best. I gave car sales a shot (don't laugh). Obviously loving cars is very different than selling them. Long term it just wasn't going to work. I took a pretty massive income hit, but I'm looking to return to the field now. Not because of the income hit, but my commute was very long, also the hours were pretty strenuous. I also didn't see my friends and family as much anymore. Honestly to me, that is more important.

I can't screw around anymore. It is time to get real. I've committed to start CPA training in September.

Debt wise I got my G37S (yay new car ), a timeshare, and some credit card debt (yes I screwed up).

I'm looking at:

$19k G37S
$5.6k Timeshare
$2.2k Credit Card - This was spending money in Europe


I have enough in savings to pay most of my debt off; however, I'm holding on to the cash while I switch positions. My job selling cars ends this Friday. I'll probably be waiting tables until I can get my CPA or another position in Finance...

As for DR, the only thing I don't exactly see eye to eye on him with is the 12% investment returns. It is great not to have debt. I'm gonna get back there!
Getting a timeshare was a horrible idea.
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Old 08-07-2012, 09:39 PM   #136
BimmerFerret
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Tell me about it. =/
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Originally Posted by Roxlo View Post
Class of '03, yet you're still an idiot. Whats your point? Do you really think that you're somehow a god because you joined a site before someone else? ****ing nerd.
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Old 10-05-2012, 11:35 PM   #137
agent050
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Fan, here. Dave is the man!
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