Priorities

[handullz]

nb4 worrying about the next mans pocket
nb4 why do you care

i recently seen a post in the "can cars pull yambs" thread. and it said "before copping an 80K car, cop a house.

and it got me thinking. What is an even balance to you between luxuries, necessities, and things of that nature.

of course we need to lay our heads down somewhere, and a vehicle is essential to some of us...

but the amount spent on it has me wondering... what's a good trade off?

yearly, lets say i spend 12K on rent... what's a good amount my vehicle should be worth, and vice versa...

if a have... an 800 apartment rent.... should i have 30K in computer hardware in it? or 30K in kicks in it?

i'm not for the extremes... "you should be driving a 745 living in a income based housing project"... or, "stay in the nicest apartment, but whipping a 96 camry"

but what's the LOWEST apartment rent yall feel before someone has their priorities mixed up, or even an apartment at all? what about a high end luxury car, like a ferrari, or bentley?

i realize that places like NY and San Fran have ridiculously high rent, while Texas has ridiculously low rent, so lets try to level the field a little bit.

 

[jesusshuttlesworth34]

Personal preference.....owning a house isn't for everyone. All depends on how much disposable income you have, where you bills stand and your mentality.

 

[mmg]

Idk the whole "owning" a house thing is overrated to me :\ maybe condo or something to that extent, with that being said there shouldn't be a standard and do what makes you comfortable, of I could I would own something in the area I was born (middle to low class by societies standards ) and whip a blacked out panamera

 

[handullz]

most def... i was just posing a question...

i'm cool on my end... and i know how i'm going to spend my money...

i was just wondering the general consensus... i plan on moving a lot withing the next 10 years, so i'm not even TRIPPING on a house.

but it seems like that's the go to for many people. OWNING A HOUSE, when you wont own it until you're in your 50-60s...

and the apartment thing... 2k car note w/ 1k on rent? 1.5 car note, 1.5 rent? 2k rent w/ a raggedy 86 camry...?

what are yall thoughts on that?

 

[fac3 tak30v312]

Honestly you live your life how you see fit

For example if you like living in apartments, then invest in buying a condo... The whole house before a luxury car thing, is due to putting security before comfort... Same goes with saving X amount of dollars over spending it on luxury items

 

[maddog345]

Owning a house doesn't come cheap. It takes a lot of time & effort to keep up with a house. Not to mention you have to be approved for a mortgage unless your paying straight cash homey.

It's all about your preference. For me, I would rather have a nice place and a decent car. The car looks good but it's just a depreciating asset.

 

[mdwst9]

most def... i was just posing a question...
i'm cool on my end... and i know how i'm going to spend my money...
i was just wondering the general consensus... i plan on moving a lot withing the next 10 years, so i'm not even TRIPPING on a house.
but it seems like that's the go to for many people. OWNING A HOUSE, when you wont own it until you're in your 50-60s...
and the apartment thing... 2k car note w/ 1k on rent? 1.5 car note, 1.5 rent? 2k rent w/ a raggedy 86 camry...?
what are yall thoughts on that?

personally i dont think your car note should exceed your rent. I'd say your car note should be half your rent at most. But even a 2k rent and 1k car note seems too much imo

 

[semf]

owning a house doesn't mean much in this day and age.

it means more to be able to afford your mortgage or whether your house is paid off.

 

[milestailsprowe]

Well depending on how you spend your money and past commitments
In the month it goes like this
1st weeks pay=rent
2nd weeks pay=bills(food)
3rd weeks pay=savings and invesments(food)
4th weeks pay=things for the home and fun
Thats how I manager the money. roof over head comes first alwyas

 

[semf]

remember, a lot of people sustain a nicer lifestyle on credit cards and debt. that's fake rich.

 

[crcballer55]

A good ratio on both points is spending no more than 35% of your household income on housing and having vehicles that are less than 50% of your annual income.

As long as you feel safe, I don't think there is an amount that is too low. I've heard of numerous people living in someone's attic for $50/mo. while saving up to buy a home.

 

[handullz]

A good ratio on both points is spending no more than 35% of your household income on housing and having vehicles that are less than 50% of your annual income.

As long as you feel safe, I don't think there is an amount that is too low. I've heard of numerous people living in someone's attic for $50/mo. while saving up to buy a home.

What about cars though?

 

[crcballer55]

A good ratio on both points is spending no more than 35% of your household income on housing and having vehicles that are less than 50% of your annual income.

As long as you feel safe, I don't think there is an amount that is too low. I've heard of numerous people living in someone's attic for $50/mo. while saving up to buy a home.

What about cars though?

Originally Posted by crcballer55  

having vehicles that are less than 50% of your annual income.

remember, a lot of people sustain a nicer lifestyle on credit cards and debt. that's fake rich.

QFT x2

 

[odog24]

rather than buying an 80k car i would want to invest in a property i can make money on then use that money to buy a car later

 

[oidreez]

Good thread

 

[Grine]

Personal preference.....owning a house isn't for everyone. All depends on how much disposable income you have, where you bills stand and your mentality.

Werd. I was looking at buying a home but I realized that I don't like to do yard work and the extrusive amount of money it cost to maintain a home.

I've decided to look for a loft or high rise instead.

 

[joepac12]

the key for me is clearly understanding my wants versus needs....once you have that mastered the rest will fall in place.