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

**DVDFreaker** · 01-29-2008, 12:50 AM

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?

**Oh GAWD the Smell!** · 02-01-2008, 01:59 AM

$1,000 a month is pretty impressive!

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

**FRISKY** · 02-01-2008, 09:06 AM

$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.

**DVDFreaker** · 02-01-2008, 01:08 PM

Originally Posted by FRISKY

$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)

**6string79** · 02-04-2008, 11:03 AM

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

**FRISKY** · 02-05-2008, 05:25 AM

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.

**Midtowner** · 02-05-2008, 08:27 AM

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.

MadMonk · 02-05-2008, 08:51 AM

$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.

**FRISKY** · 02-05-2008, 11:05 AM

Originally Posted by Midtowner

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.

Originally Posted by MadMonk

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.