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BMW 3-Series (E90 E92) Forum
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Questions for recent college graduates.
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03-31-2008, 09:56 AM | #45 |
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You can never beat the time value of money. Always have an emergency fund(3-6 months of expenses). Pay yourself first!!!(automatic withdrawal from your checking account into a-IRA account, 401k, or brokerage account) and still have fun.
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04-13-2008, 10:25 AM | #46 |
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Just curious, what were some of your approx salaries when you bought your new BMWs? I had to sell my 2000 323i to get a more reliable car to finish college, and now that I am a few weeks away from graduating (still got one more year for my MBA), I am hoping to get back in a BMW within the next few years.
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Past BMWs: 2006 330i, 2000 323i |
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04-13-2008, 10:55 AM | #47 |
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My rule of thumb is not to buy a car that is more than 1/3 my salary, and I generally look to keep it to 1/4 my salary.
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04-13-2008, 12:08 PM | #48 |
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I myself find myself ina restructuring plan. I finished my education in 12/05, was making good money in the city and bought a new altima at the time.
about 10 months later, left the job in the city due to the amount it was costing me to commute ($30/day). Took a job outside of the city closer to home, making less money and slowly adjusting to it. Now im 23, because of the type of business im in, i dont have a steady paycheck, yet at the end of the year its been consistant at about 60-70 range I'm in the process of selling the altima and cutting my losses for a BMW. This is the first step that will help me save money, as i pay 400 a month on the altima, and i will be paying half that for the new car but will be a lease. With the new car I will feel more comfortable going to meets and getting more business for modding/repairs, to help bring in an additional income. I am however forced to get another vehicle for practicality and winter months, which i might be getting an 89 325IX through barter which will help save some money. My fiance is graduating next month and currently looking for a junior accounting position, so hopefully that will help my financial situation
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04-13-2008, 12:30 PM | #49 |
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What about for someone with no kids and no student loans? I have heard the 1/3 of salary before and while that is an excellent figure to shoot for, I don't think I can wait that long to be back in a BMW I am sure some of you guys can relate. I realize that I will be paying more in interest by dragging the payments out but it will be worth it to me.
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2015 320i xDrive | Imperial Blue Metallic/Black SensaTec | Sport Package | Lighting Package | Moonroof | Heated front seats
Past BMWs: 2006 330i, 2000 323i |
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04-13-2008, 01:02 PM | #50 | ||
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Quote:
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04-14-2008, 10:18 AM | #51 | ||
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Quote:
Quote:
Use something like Quicken or whatever. Works as well, if not better. You also generally get your money a day earlier with DD.
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1999 e46 328i Ti Silver / Black[retired] 2007 e90 335xi Jet Black / Black[retired] 2011 e70 X5 35d Vermillion Red / Cinnamon 2011 e92 M3 LeMans / Fox Red extended |
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04-14-2008, 06:18 PM | #52 | |
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Quote:
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2015 320i xDrive | Imperial Blue Metallic/Black SensaTec | Sport Package | Lighting Package | Moonroof | Heated front seats
Past BMWs: 2006 330i, 2000 323i |
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04-14-2008, 06:41 PM | #53 |
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Will graduate BS Chemical Engineering in 6 weeks
short term... - I need to get a new car when I graduate and will probably buy an '08 Accord Coupe (upgrade from current 11 year old coupe hehe) - I am spending waayy too much on my apt, but I was out of options. Ideally, I would like to pay ~500/month but will be paying 850 and thats just the rent - Gotta pay off some minor student loans - Travel the country before I start work. I will probably drop 2k on this but I need to have some fun during the last month-long break I will have in a while Long term... - I will definitely be maxing out my 401k and possibly get an IRA b/c I know the importance of that shit. Personal Finance class FTW - Saving for a house. Hopefully I can get in and get a good deal w/ the housing market the way it is. Everyone is different though. I would say just figure out what you can afford to satisfy your needs and then allocate extra money according to what you are really passionate about (short/long term goals)
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I can't decide what I love more- my boyfriend or his new e92?
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04-14-2008, 06:47 PM | #54 | |
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I am up in the air about cars. I am a car fanatic and I couldn't just not buy a nice car, it was a present to myself. I do think I am paying too much right now though. It would have been much easier to have just held out for a couple years than it is to give the car up now though. edit: Or you could just have your sugar daddy help you out
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04-14-2008, 07:37 PM | #55 | |
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p.s. lol on the sugar daddy comment. I cant deny that i love being driven around in that sweet car.
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I can't decide what I love more- my boyfriend or his new e92?
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04-16-2008, 02:14 AM | #56 |
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btw, Get Rich Slowly is a great blog for those interested in financial stuff!
http://www.getrichslowly.org/blog/ |
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04-16-2008, 02:44 AM | #57 |
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60% SAVING?!?! thats nuts.
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