got my paycheck.... now what?, what should i get? Options

[Gimmiefire06]

Well I just got my paycheck and now i got like 1000.00 saved altogether. My cars got small dents and some patches of fadeing paint so should i go for it and spend all my money towards body work and paint or does anyone else have any suggestions to how i could spend the money towards my car?

my sound system and tires are already taken car of, so just wanted to see your guys thoughts on it. thankss

This post has been edited by Gimmiefire06: Aug 6, 2005 - 2:29 AM

[lagos]

keep the money and dont let it burn a hole in your pocket?

[Gimmiefire06]

Haha, very good point.

[celicaST]

keep the money and dont let it burn a hole in your pocket?
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exactly lagos, sure we all love our cars here, but make sure to spend within your means. spending all of your paycheck on modifications to your car will be exciting now, but i guarantee you will regret it down the road. but on the other hand, i believe it is important to have fun while your young and not become too focused on money. so, find a balance and start budgeting your money. for example, an easy, simple method would be to put 80% of paycheck into savings account (smarter and higher ROI options include CD's, mutual funds, etc.) and the remaining 20% into you checking account. dont touch the money in the savings account and use the checking account for all your expenses including repainting your car if need be. so use your car as a driving force to not only make money but to spend it wisely, because wouldnt it be fun when your 40 to buy a ferrari! . i dont know how old you are but im 18 and will be a freshman this year.

[dustin15brown]

Lagos has a good idea in theory... yet no one does it...... i know I dont atleast

[lagos]

my theory is that most people are not comfortable with money. when they dont have it, they dream about it all the time. when they get money, they want to get rid of it asap. .. .ever notice that?

just keep working and saving. then later if something comes along that you really want and need, youll be able to aford it and still have money in the bank.

[Galcobar]

I do it, pretty much. Automatic withdrawls every month into a retirement savings plan (tax sheltered), got a savings account that pays high interest but is an incredible pain in the ass to get at, and a cash account that I use for daily expenses. The only time I touch the savings is to deal with tuition fees, and then only if I have to.

[bloodrain]

blow it on your car, your young, you only live once, you may regret it, but then you may not. I say save half and spend half.

[Digndoug]

blow it on your car, your young, you only live once, you  may regret it, but then you may not. I say save half and spend half.
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Thats a good point to some extent. Your only going to be able to blow money liek for so long, until you have a real life, real bills and everything else. I have been saving for school and only have so much money i can really "blow" on anything.

If you feel you really dont need it, spend it, but id say save it for somthign bigger and better and or for an emergancy.