People need to wise up financially...

[neox.286]

aww man you guys are gonna scare people away from putting up killer deals in the for sale section =P
(jk)

Ive had to do this talk with my brother a few times now....hes 21, lives at home, doesnt go to school, doesnt have a job, got a DUI, and still is convinced that he is going to supercharge his k-swapped civic

that was all fine and dandy when he first started working on this car 2 - 3 years ago, but now he really needs to stand up and realize the situation hes in and how much he needs to look into the future

it just kills me that Im two years younger than him and I have done so much more with my life than he has...your supposed to look up to your older siblings, not the other way around (even though he doesnt)

 

[magnumP5]

For the most part what you all are saying is very correct: people should not live outside their means. Yep, that's it, plain and simple but for some reason most people just don't get it.

I don't complain about seeing the "I'm broke, need money" F/S threads because usually I benefit from them I'm getting more frustrated with people lately continuously asking "How do you guys spend so much money on your cars? Tell me your secrets for making money?!" For the last time the answer is simple: go to school, do well, get a good job and work - that's it!

Beware below...

[Economy Rant]
However, modding cars has nothing to do with the economy really - only when people take out loans and then can't make payments. That's where it really starts to hurt but there are more factors there. First of all, our economic situation is currently in the state it is because banks and other financial institutions were granting loans and mortgages to EVERYONE! Half the people I know who have taken out loans should have never been approved in the first place. Sure, people should have the common sense not to take out a loan they can't pay back eventually but you have to know that banks are just as stupid for expecting money from these people. Banks played on peoples' lack of common sense hoping to make money on interest rates but what happens when people (lots of people) just can't pay? I think we're figuring that out now. You can takes possesions, houses, cars etc. but you're not going to get back the money you loaned...
[/Economy Rant]

 

[Silver Ecstasy]

Like I said previously, i'll take advantage of the foolishness. If you need to sell some stuff, i'll gladly take it if it's a good deal (specifically if it's something i've personally justified and said I want.)

The one stubborn thing i'll say is, school isn't always entirely the way. You have to be a well-rounded person thats versatile and has some kind of personality. A lot of people know how to DO stuff, but they don't know how to talk to people and teach it back to others. I typically can't stand most engineers because they know too much for their own good.

But it definitely opens up a lot of doors, and i'm actually in the process of trying to go back to continue education that I never finished.

 

[tiagotiago]

I agree with this thread completely.

I cringe every time I read "I've invested $XXXXX in my car". A car, very rarely, is an investment. An investment means something you put money in to get more money out. So unless it's a classic you've restored and sold for more money than what it cost you to get and repair, while also considering inflation/credit interests, it just isn't an investment, it's spent money.

Like Silver said, sucsesfull people don't like to spend money, they'd rather invest it, and will probably only spend money if they're sure they can afford it and keep on saving money in the bank.

Loans, credit, leases, etc can be good tools to help if you have the proper conditions to use them.

I was fortunate enough to recieve a class in proyect evaluation/engineering economics by a good teacher when I was in college. It was very hard and the exams were demoralizing but it was an eye opening class. Honestly if anybody is in a position to take a similar class by all means do it. Properly given, you'll have a much better understanding of how to handle and make money. EDIT: I don't mean that with this you'll know everything, but you'll have your eyes open, knowing that there is a lot more to learn. This means you'll be more careful, and hopefully help others, not rub it in their faces.

 

[Diehonda]

Excellent post.

This is why I smile everyday as I drive my slow as molasses P5 back to my very affordable home where I don't have cable or a plasma TV. My wife and I pay our bills and our 30 year fixed mortgage and then we lay our heads to bed at night and sleep knowing that we might not be living the high life, but we're not living beyond our means and all the bills are paid. And we even have enough left over to go out for a fancy dinner once in a while.

+1

I am the same way.

The difference between wants and needs. You want a faster car, you need a safety net.

 

[Viralphrame]

+1 to a car is not an investment. The best example I can think of is TurfBurn/Steve's turbo'd MP3, and how he's having to lowball his own prices to even get offers on it.

 

[i12drivemyMP5]

Ahhh, the sound of youngstas bustin out the house facing the real world & all of the annoying expenses shielded by the parents during the childhood years. Different game when it's your money and your debts. All that killjoy s*** your parents were always throwin out is comin home to roost. It's called coming of age & standing on your own. Just glad to see folks' realizations kickin in like they should. Still a ton of old folks out there that never copped a clue foreclosing & repoed on & all that making things more expensive for all the ones trying to do the right thing. You will all soon find out that doing what's right, responsible & good for you is definitely a harder road thanks to all the inside out backwards assness that's the reality of today. Good luck to all who shoot for doing things the right way. We all need it.

 

[magnumP5]

I typically can't stand most engineers because they know too much for their own good.

Nothing wrong with knowing too much

Anyhow, I should have clarified because I didn't necessarily mean college when I said "school". While hard work does pay off I still find it hard to believe that anyone could make a decent living w/o a high school education (sure there are exceptions but celebrities, music artists, etc don't count). A lot of friends I know back in high school never went to college and they are making good, honest livings for themselves because they are working hard. Then again, I know lots of people who have finished high school/college and don't do anything. So yeah, it's all in how hard you work and higher education always helps but high school is needed at minimum. You aren't going to make a living working at McDonald's for the rest of your life.

 

[Donas64]

Nothing wrong with knowing too much

Anyhow, I should have clarified because I didn't necessarily mean college when I said "school". While hard work does pay off I still find it hard to believe that anyone could make a decent living w/o a high school education (sure there are exceptions but celebrities, music artists, etc don't count). A lot of friends I know back in high school never went to college and they are making good, honest livings for themselves because they are working hard. Then again, I know lots of people who have finished high school/college and don't do anything. So yeah, it's all in how hard you work and higher education always helps but high school is needed at minimum. You aren't going to make a living working at McDonald's for the rest of your life.

Amen. Nothing wrong with starting at Mickey D's. A job is a job and it's better than being unemployed, but have some aspirations! Rise through the ranks and run that joint!

I don't have any kids yet but I'm hoping I will be able to do a good job in preparing them to stand on their own to feet........


Because they sure aren't moving back in with my wife & I!

 

[magnumP5]

I don't have any kids yet but I'm hoping I will be able to do a good job in preparing them to stand on their own to feet........

This is my biggest concern and something the fiancee and I have been talking about a lot. We both agree that both her parents and mine, despite having vastly different methods, raised us very well to be prepared for this world. Seriously though, if I could raise my future children half as well as my parents raised my sister and me, I would consider myself having been a good parent.

 

[camrycev6]

Good thread Silverspeed. I have a story add that just happened to me a couple of hours ago that is related...

My roommate's finance (they both live with me at the moment) just called me and asked to borrow $460! I asked why, and she said it was to get her phone turned back on. Who the hell has a $460 phone bill?

The irony is the rent is due today... If she is asking to borrow $460, I wonder if the rent money will be waiting for me when I get home... Hmmm.... I wonder.

 

[Diehonda]

Good thread Silverspeed. I have a story add that just happened to me a couple of hours ago that is related...

My roommate's finance (they both live with me at the moment) just called me and asked to borrow $460! I asked why, and she said it was to get her phone turned back on. Who the hell has a $460 phone bill?

The irony is the rent is due today... If she is asking to borrow $460, I wonder if the rent money will be waiting for me when I get home... Hmmm.... I wonder.

LOL

You already know the answer to that one!

 

[camrycev6]

Oh... I know.... Roommates.... I swore I would never have another one, but the money is just too easy!

 

[StealthWyvern]

I dont see the point in getting upset becuase some people cant manage their money. If they are alwasy asking you for some cash then yes I can understand.

My neighbor just purchased an older 4x4 f150 witha 460 and bitches becuase of gas when he traded in his trecel! 8mpg will hit anyones pocket book hard. Its his life, his money, his mistakes, all I can do is advise him not to. Its his issue and not mine.

Don't get my wrong I have a truck but I dont drive it everyday. I also got it knowing it wasn't going to be my DD so that doesnt bother me any. I do splurge for stupid stuff but then again i save up for the stupid stuff so it doesnt affect me.

Yes I have cut back on my spending to help afford certain parts faster or cut back and spending on stupid items like star bucks for instance. My co-worker goes their twice a day!!! Thats roughly $3,650.00 a year on coffee!

One thing I find that helps me manage my money is quicken. I can put each item spent in a catagory and it will give me a percentage on how much random/stupid/ or unnessary crap that I have spent that month! Because some times you just dont realise how much money your blowing on stupid crap. 5 bucks here and their will add up extremely fast if your nor careful.

 

[brunoxmatoss]

I have seen it since I've ever been on a car forum. I've bit my tongue until now. And what a better time to come out and speak the truth - when the economy is down and people have less and less cash in their pockets.

You guys really need to start thinking longer term sometimes. I see alot of people piss away alot of cash into their cars, way too fast, way too soon. And then, one of two things happen:

-A "i'm broke, selling mods" sale thread pops up
or
-Warranty issues that you never anticipated

It actually pisses me off after a while because I feel like aftermarket companies milk people dry just because we can't help but have instant gratification for our cars. And then ontop of that, you go broke so you put up all your used mods up for sale and make 50% of your cash back. You might as well save your mods, enjoy the hell out of them and live more frugally and save up as much as you can going forward, instead of selling used-ass mods for half off. It's a viscious cycle almost, and I just can't help but wonder whats going through peoples heads when they do this!

And then on top of it, people will buy whatever is available, slap it on their car, have an issue then expect the dealership to cover it when you've altered your car in so many ways you can't even retrace the steps where something might have happened or narrow it down to the point you can prove theres no way that single or multiple mods caused the issue.

The point i'm trying to make is, is any of that financial or emotional stress worth it??? I'm going to mod my car for sure, but I think long term all the time. I like being financially capable of doing what I'm doing at a young age, but I wonder why other people don't catch on to any of this. Especially younger cats. And when you start like that, you never change. I started like that and found out real early that I have to stop pissing money away left and right on my car. I woke up and changed my ways.

[disclaimer= please keep this civil, I don't want anyone pissing and moaning because their offended. Truth is truth, lets chat about this.]

#1- couldnt help but notice your car is stock. HATER!

#2- couldnt help but notice your married. maybe this is the reason for #1.


HAH!

although i think that people spending money they dont have on modding their cars is dumb. for the most part it keeps them out of trouble in other aspects of life. lets say... drugs, alcohol, and such.

 

[StealthWyvern]

one more thing i forgot to mention people ask me why i spend money on my car all the time. Well its better then beer, smoking, and drugs. Plus you get to use it more then once and your not literally pissing it away.

 

[ottawaP5]

I stopped modding cars after I sold my P5. The MS3 is quick enough for what I need, so any more money spent on it is just a waste. I'd rather spend my money on more meaningful things.

 

[Donas64]

I stopped modding cars after I sold my P5. The MS3 is quick enough for what I need, so any more money spent on it is just a waste. I'd rather spend my money on more meaningful things.

If I got an MS3, I would at least spring $200 for an SRI. That would be it for me.....hopefully.

 

[brunoxmatoss]

I stopped modding cars after I sold my P5. The MS3 is quick enough for what I need, so any more money spent on it is just a waste. I'd rather spend my money on more meaningful things.

you could always upgrade the appearance (thought)

 

[ottawaP5]

you could always upgrade the appearance (thought)

I could do a few things here and there...but I actually think it looks nice stock. I like the rims better then most aftermarket ones. But that's just my personal opinion.

I think what happens is we just get bored with our cars and feel the need to mod them. I guess I'm not bored yet.

One thing that also put me off modding is I had a CAI and a cat-back on my P5, and tried a 3rd gear roll against my friend in a bone stock one, and both cars were dead even!!