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Viewing profile - dontgopoor

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dontgopoor
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Joined: Mon Jul 30, 2012 3:59 pm
Last visited: Tue Dec 29, 2015 10:53 am
Total posts: 28
[0.03% of all posts / 0.02 posts per day]
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Most active forum: Personal Finance
[ 21 Posts / 75.00% of user’s posts ]
Most active topic: Poor Car decision: Need to Eat the costs?
[ 3 Posts / 10.71% of user’s posts ]

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www.dontgopoor.com
SOLD: Don't Go Poor and Miserable Being Sold Happiness - teaching consumers how to buy

dontgopoor Posts

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 Forum: Personal Finance   Topic: Getting a car coming out of college

Posted: Sun Oct 21, 2012 6:16 am 

Replies: 20
Views: 3066


Of course, that was after saving up enough to pay cash, but in the OPs situation a small loan that is paid off as fast as possible probably won't hurt too much. Given the OP mentioned he's graduating debt free (I'm assuming that means no student loans vs. loans that are now paid), financing a car t...

 Forum: Personal Finance   Topic: New Grad: Am I Living Beyond My Means?

Posted: Tue Oct 16, 2012 9:46 am 

Replies: 27
Views: 3621


Takehome pay per month: 2400/month Rent and utilities (including internet): 950/month Food: 500/month Renters insurance: 35/month Gas: 250/month Misc: 320/month Savings: 345/month My question: does this seem sustainable? Are there any huge expenses I am missing in the budget? Would I be better off ...

 Forum: Personal Finance   Topic: Getting a car coming out of college

Posted: Sat Oct 13, 2012 8:05 am 

Replies: 20
Views: 3066


DDVX - Definitely go used. The Accord is a great car (I bought one within a year of grad school and put 100k miles on it and never had a problem). But there are other good models and brands out there. I'd buy the best car I could find for the cash I had (whether $4k or more with the parent loan). Fi...

 Forum: Personal Finance   Topic: Another windfall question

Posted: Sat Oct 13, 2012 7:38 am 

Replies: 20
Views: 2786


Wait, how did you quantify all that? Why $100k for EF? You don't know what the income needs are. Even if you knew what they were now you would have to back out the current debt payments. I've not seen a definitive formula for an EF though conventional wisdom indicates a min of 6 months living expen...

 Forum: Personal Finance   Topic: Another windfall question

Posted: Wed Oct 10, 2012 9:09 am 

Replies: 20
Views: 2786


Congrats on the success. You've sort of hit the lottery so now's the time to avoid the mistakes that lottery winners make. - Pay off all debts - that leaves you with ~$950k - Mark $100k as an EF - Term LI is cheap ($100 to $250/year each for you and wife) at your age if you have good health so I'd r...

 Forum: Personal Finance   Topic: Buy a car with no downpayment?

Posted: Mon Oct 08, 2012 7:34 am 

Replies: 18
Views: 2996


By the way, I share a link from Edmunds on a inside info and advice on how to buy a car at my G+ page - story is titled: "Where Does the Car Dealer Make Money".

https://plus.google.com/u/0/b/113845064648789465859/113845064648789465859/posts

 Forum: Personal Finance   Topic: Poor Car decision: Need to Eat the costs?

Posted: Mon Oct 08, 2012 7:31 am 

Replies: 19
Views: 3089


I shared a link on my G+ page on advice and inside info on how to buy a car - it's here:

https://plus.google.com/u/0/b/113845064648789465859/113845064648789465859/posts


Great advice on how to buy a car. Follow the money.

 Forum: Personal Finance   Topic: Poor Car decision: Need to Eat the costs?

Posted: Tue Oct 02, 2012 9:14 am 

Replies: 19
Views: 3089


Last December I convinced my wife of a poor financial decision (obvious now) and bought a used BMW for about $30K ($400 monthly pmt). I have always been a huge car fanatic and I really enjoy this vehicle still every time I drive it. I don't want to put you on the spot, so please pass on this if it'...

 Forum: Personal Finance   Topic: Poor Car decision: Need to Eat the costs?

Posted: Tue Oct 02, 2012 9:03 am 

Replies: 19
Views: 3089


Selling to dealerships is great for those who can afford to the cost of the convenience. But it is very expensive - based on what you've written, sell the car yourself. Craigslist and Auto Trader are easy ways to do so. Auto Trader and Edmunds, I recall, also provie tips on how to handle the transac...

 Forum: Personal Finance   Topic: Buy a car with no downpayment?

Posted: Mon Sep 24, 2012 5:34 pm 

Replies: 18
Views: 2996


If you can buy the car with cash but are, in a way, choosing to borrow money at a rate below a return you could make elsewhere, it's a good choice. But are you sure the price of the car is right? My guess is that the low interest rate is being bought by a higher price on the car or a trap in the loa...

 Forum: Personal Finance   Topic: vacation at Disneyworld possible visit to Universal

Posted: Wed Sep 19, 2012 9:19 am 

Replies: 8
Views: 1693


Having been to all the Orlando Disney and Universal parks more times than I can remember, you and your kids will likely need a rest day. And I'll guess so will grandma and grandpa, and perhaps some others in your group. As you spend time in the parts you'll see kids having meltdowns - the heat, long...

 Forum: Personal Finance   Topic: what to spend on a car?

 Post subject: Re: what to spend on a car?
Posted: Wed Sep 12, 2012 8:14 am 

Replies: 14
Views: 2090


I guess I am really trying to decide how much I should spend on cash for my car. Spend less than the amount of cash that you have available for one. Do you want almost 10% of your net worth in a depreciating asset? Buy a low mileage, great condition used car. Are you using 5 years as a yardstick? H...

 Forum: Personal Finance   Topic: What financial success books and blogs do you recommend?

Posted: Tue Sep 04, 2012 7:45 am 

Replies: 5
Views: 2635


"The Richest Man in Babylon" by George S. Clason - great beginners lessons. "The Millionaire Next Door" by Thomas J. Stanley - provides a good mindset. I think that Warren Buffet's letters to shareholders are the best financial writings available. And they are free and easy to ob...

 Forum: General Discussion   Topic: This idea have potential?

Posted: Tue Sep 04, 2012 7:39 am 

Replies: 5
Views: 2221


There are many courses available. I like the Smith System the best with their 5 Keys.

I've found that most young drivers mimic the driving behavior of their parents.
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