Madison MoneySports - Personal Finance Thread

[Kaan]

I <3 DINK life... i need one of these for the truck and race car

https://smile.amazon.com/gp/product/B00L...KQXB&psc=1

[Sijray21]

I went through this same exercise when we moved to a bigger house because the mortgage was gonna be quite a bit more.

Went down to one car and got it paid off. Cancelled the gym membership - we used it regularly but felt like we could give it up and it was expensive. Shopped the internet rates and got verizon down to $40/mo. Shopped car/home insurance rates. We already didnt eat out very much. I think there were some other things we changed, but that was the bulk of it. Now if I could kick my habit of spending money on bicycles and old motorcycles....

Dropping every hobby and interest because you have a large mortgage is the definition of being house poor though... Keep the important fun stuff.

[.RJ]

I have a lot of hobbies and interests tho.

[WRXtranceformed]

Protip:  Owning only 1 car saves you a ton of money.  A friend of mine asked me if I missed having two cars the other day and I said no way
Protip 2:  Diversify into Rolex sport models, specifically Submariners, GMT II and Daytonas.  Get vintage if you can afford it.  You'll thank me in 20 years when they outperform your portfolio

Protip 3: Not having a kid saves you a fuckton of money.

https://www.usatoday.com/story/life/allt...559812002/

Or - https://www.theguardian.com/environment/...r-children

Ok AOC

[V1GiLaNtE]

Protip:  Owning only 1 car saves you a ton of money.  A friend of mine asked me if I missed having two cars the other day and I said no way
Protip 2:  Diversify into Rolex sport models, specifically Submariners, GMT II and Daytonas.  Get vintage if you can afford it.  You'll thank me in 20 years when they outperform your portfolio

Protip 3: Not having a kid saves you a fuckton of money.

https://www.usatoday.com/story/life/allt...559812002/

Or - https://www.theguardian.com/environment/...r-children

Ok AOC

It's a simple supply vs demand. We could also solve the same problem by simply taking a lot of warning labels off things. Like the "do not drink" on bleach for instance..

[Apoc]

So maybe Thanos was right?

One car isn't practical when you have a kid. People do it, but you're sacrificing quite a bit of flexibility by doing so.

How about just have three cars and pay them all off? ¯\_(ツ)_/¯

[Sijray21]

How about just have three cars and pay them all off? ¯\_(ツ)_/¯

that's what we have. they're all german though. i'm expecting each one to catch on fire in the coming months.

[WRXtranceformed]

We'll have to get a second car eventually, which I'll most likely pay for in cash or mostly in cash with a small loan to keep the reserves full. Imma ride this while I can tho

[Kaan]

I have a lot of hobbies and interests tho.

me too... hobbies kill my account but I have savings on "auto save" and I've been good enough not to mess with it too much

I also claim broke when I'm really not broke... just to Sylvia holds me to being broke.

[Apoc]

How about just have three cars and pay them all off? ¯\_(ツ)_/¯

that's what we have. they're all german though. i'm expecting each one to catch on fire in the coming months.

Same. 

This is part of the reason I bought a base model GTI. I'd gotten into the habit of buying $45k daily drivers. Good way to flush money down the toilet.

[HAULN-SS]

Protip:  Owning only 1 car saves you a ton of money.  A friend of mine asked me if I missed having two cars the other day and I said no way
Protip 2:  Diversify into Rolex sport models, specifically Submariners, GMT II and Daytonas.  Get vintage if you can afford it.  You'll thank me in 20 years when they outperform your portfolio

Protip 3: Not having a kid saves you a fuckton of money.

https://www.usatoday.com/story/life/allt...559812002/

Or - https://www.theguardian.com/environment/...r-children

Ok AOC

I love seeing this when the fundamentalists are out there having 19 kids...lol

---

So maybe Thanos was right?

One car isn't practical when you have a kid. People do it, but you're sacrificing quite a bit of flexibility by doing so.

How about just have three cars and pay them all off? ¯\_(ツ)_/¯

All my cars have been paid off and the tax bill still pisses me off. Not to mention I always have at least one car that needs and inspection or something I never get around to

[Apoc]

All my cars have been paid off and the tax bill still pisses me off. Not to mention I always have at least one car that needs and inspection or something I never get around to

No inspection here and antique cars are exempt from taxes. Our greatest car expense is insurance by a wide margin.

[WRXtranceformed]

We don't have inspections here either but insurance and property tax definitely adds up on multiple vehicles.

I was pretty sold on a used stretched Q70L because they're absurdly cheap for what they are on the used market but when the time comes I'm still not opposed to just buying myself a cheap, older beater. My lust for "fun" cars has slowly burned out now that I rarely drive

[.RJ]

Lee you'll never buy a cheap beater

[JPolen01]

I was pretty sold on a used stretched Q70L because they're absurdly cheap for what they are on the used market 

:vomit: The Q50/Q70 has been absolutely hated by anyone that reviewed them. Not good at being a sports car, not even close to being good as a luxury car. Hard pass.

[Senor_Taylor]

Can one of you more experienced folks take a look at my budget spreadsheet and let me know how it looks?

[SlimKlim]

Are we just supposed to intuitively know the link?

[Senor_Taylor]

Are we just supposed to intuitively know the link?

I'm not going to put the link to my finances out here. If anyone says yes, I'll share it. I'll send it to you.

[Apoc]

Can one of you more experienced folks take a look at my budget spreadsheet and let me know how it looks?

I can look at it, but I'd be interested in knowing more about what sort of feedback you're looking for.

[WRXtranceformed]

I was pretty sold on a used stretched Q70L because they're absurdly cheap for what they are on the used market 

:vomit: The Q50/Q70 has been absolutely hated by anyone that reviewed them. Not good at being a sports car, not even close to being good as a luxury car. Hard pass.

Really?  The old versions (M) did not hold up very well in the long term but they fixed a lot of that and made them more refined in the Q70.  It's super nice inside with really good features, technology, engine is tried and proven.  I liked the few that I test drove, but I wouldn't buy it to be a sports car. That's just not what I'm in the market for