Widgets Magazine
Results 1 to 9 of 9

Thread: How much do you save every month and what are you saving for?

  1. #1

    Default How much do you save every month and what are you saving for?

    I save $1,000 every month and I am saving for a car of my own and then after I get my own car, I am saving to move out of my parents' house

    What about you?

  2. Default Re: How much do you save every month and what are you saving for?

    $1,000 a month is pretty impressive!

    I've got my house and two trucks, so I'm not quite saving at that rate

  3. #3

    Default Re: How much do you save every month and what are you saving for?

    $1,000 per month is impressive! Might I suggest you purchase a reliable but low cost car and invest your monthly savings into something that will get you started on the road to financial security.

    While you are young and don't have many monthly expenses is the best time to start an investment plan. Money makes money and the sooner you get started and the more you can invest the quicker your investment will grow to the point you won't need to work because the interest will be enough to live on.

    People that retire young live longer.

  4. #4

    Default Re: How much do you save every month and what are you saving for?

    Quote Originally Posted by FRISKY View Post
    $1,000 per month is impressive! Might I suggest you purchase a reliable but low cost car and invest your monthly savings into something that will get you started on the road to financial security.

    While you are young and don't have many monthly expenses is the best time to start an investment plan. Money makes money and the sooner you get started and the more you can invest the quicker your investment will grow to the point you won't need to work because the interest will be enough to live on.

    People that retire young live longer.
    Yeah, I am planning to look around for a Honda (I love Hondas)

  5. #5

    Default Re: How much do you save every month and what are you saving for?

    haha Frisky, I think you are an Ok-Speed guy, right? I've seen that name around. Frisky is a Corvette guy i think....

  6. #6

    Default Re: How much do you save every month and what are you saving for?

    Maybe, it depends on what an "OK-Speed guy" is.

    I do like Corvette, as well as Ferrari, Lamborghini and Porsche, but automobiles are almost never a good investment.

  7. #7

    Default Re: How much do you save every month and what are you saving for?

    I take out a lot every month for my IRA. As far as saving to buy things, I generally just buy things on the 0% interest deals then pay them off way before the interest comes due.

    We're working on getting the essentials for when we live in a house (next big purchase is a washer/dryer set). After that, we'll probably start building up the down payment fund.

  8. #8
    MadMonk Guest

    Default Re: How much do you save every month and what are you saving for?

    $1,000 / month is very good considering the median income in OK is around $38-39k. Mooch off your parents as long as they (and you) can stand it and you'll have a very nice down payment on a house.

  9. #9

    Default Re: How much do you save every month and what are you saving for?

    Quote Originally Posted by Midtowner View Post
    We're working on getting the essentials for when we live in a house (next big purchase is a washer/dryer set). After that, we'll probably start building up the down payment fund.
    Quote Originally Posted by MadMonk View Post
    Mooch off your parents as long as they (and you) can stand it and you'll have a very nice down payment on a house.
    Both are excellent ideas, but it would probably be better to get a sizable down payment for a house first, then pay cash for "essentials" after closing on the house purchase.

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Single Sign On provided by vBSSO