how do you all manage money that goes into your car?

[fivespeedsteed]

just set a limit each month or what? ive got a good chunk of money (about 6k) that has to last me for about a year or so, and im finding it hard to not spend it on the fox. ive decided how i wanna run a budget and all and im pretty sure ive got it down to taking 400 a month out of that lump sum and the rest of the money is from work. do you all set limits of what you spend per month? my cars sat at home for 2 school years now, and ive got a lotta stuff i need to catch up on, im just not sure if i should get the fox straight then budget or just start rationing it now.

 

[25thmustang]

I used to spend all on the car, when I didn't have bills. Then with a few bills I spent a little on it, no real ration, just when I had the extra I spent it. Now I spend nothing on the car. I just drive it, enjoy it, and every once in a blue moon spend a tiny bit on it. Being young and spending the money on a car is fine, but the older you get the more you need to plan to save and ration that money.

 

[Mustang5L5]

3 bank accounts

Savings where most of my cash goes. In 10 years, i have yet to make a withdrawal from this acct.

Checking...for bills and weekly spending money. When i get some extra cash, most goes to savings, some goes to fun.

Fun...for car and other stuff. Usually any money i get from selling parts on ebay or odd jobs goes here, but once in a while i toss a few bucks in here. If i don't have cash for parts in here...i don't buy it

 

[rock4451]

25th sounds right, i am relatively young and go to school, so i don't set a limit on how much i spend, as long as i have "enough" in the account to keep my head above water Should a part take a dump. that being said, i have no bills due to a scholarship, and work full time during the summer, and 12 hrs/wk the other 9 months (during school). my brother had an 89 gt and dumped every dime he had into the car. he loved it though, so he would say it was worth it.

 

[Shaolin Crane]

im the same, some people want different things, my goal is to have a stable of 10 different mustang fully built, because i dont mind where i live those are the things i want, sht look at my car i definitaly didnt control my spending

 

[S&B]

I used to spend all on the car, when I didn't have bills. Then with a few bills I spent a little on it, no real ration, just when I had the extra I spent it. Now I spend nothing on the car. I just drive it, enjoy it, and every once in a blue moon spend a tiny bit on it. Being young and spending the money on a car is fine, but the older you get the more you need to plan to save and ration that money.

couldn't have said it any better, at some times the mustang will be the center point in your life, you will spend every dollar you have pimpin' out making it go fast then you get older and your money goes other places. On the t top coupe that im building i have been collecting stuff for years now and I take my time. Gone are the days Ill pay double to have it today, but all that comes with time.

I try not to spend more than a couple grand a year on my stangs now

 

[faststang90]

i was spending alot of money before i had my bike wreck but i was making alot more than i am now. i been off work for about 3 years now and i have just had to slow it down big time. just take your time the car will still be there. before my bike wreck i was making about 100,000 a year so i was spending that very easy. now im make 2030.00 a month so i just have to wait to see if i can go back to work before i spend any money. i take 100.00 a month and save it till i can get something. so far i got rims,7AL3 box,a shifter,the rear bulk head done,eletric fan, 1 piece head lights. thats at most of the time saving 100 a month.

 

[stykthyn]

wife, kids, and house will check all your spending real fast. if you have no responsibilities dont worry about what you spend. as you get burdened down you will find yourself spending it when you can and saving when you cant. just for the love of god dont max out credit cards. you will bury yourself in a heartbeat.

 

[fivespeedsteed]

yeah i dont own a credit card for a reason. ive watched my friends slip down that route.

 

[Mustang5L5]

I own 1 CC...and when the bill gets over $500 i get nervous.

I know people living comfortable with $5K+ in credit card bills. I'd go nuts if that was me.

 

[Shaolin Crane]

I own 1 CC...and when the bill gets over $500 i get nervous.

I know people living comfortable with $5K+ in credit card bills. I'd go nuts if that was me.

yup no CC's for me, if i cant afford it i dont need it

 

[Darkwriter77]

I look at my paycheck and I gnaw away at it like this:

1. Bills
2. Fuel (enough to get to/from work)
3. Food
4. Crap that needs fixin'
5. "other" (car upgrades and fun stuff)

Usually, I have nothing left at all after #3, and if I do, #4 pretty much chews it all up. About the only time I have anything left for #5 is around tax return time, or if I get any kind of extra paycheck or bonus from work. Such is the under-$30k-per-year life.

 

[S&B]

I look at my paycheck and I gnaw away at it like this:

1. Bills
2. Fuel (enough to get to/from work)
3. Food
4. Crap that needs fixin'
5. "other" (SPARE BUTT PLUGS)

Usually, I have nothing left at all after #3, and if I do, #4 pretty much chews it all up. About the only time I have anything left for #5 is around tax return time, or if I get any kind of extra paycheck or bonus from work. Such is the under-$30k-per-year life.

 

[Shaolin Crane]

 

[Mustang5L5]

yup no CC's for me, if i cant afford it i dont need it

I keep one for emergencies and online purchases. I usually carry only cash with me, so i hate the idea of meeting some hot chick on the fly, inviting her to dinner and only having $20 on me.

 

[1991notchbackLX]

how do you all manage money that goes into your car?

you want the short answer? i don't...

 

[LiquidGT]

I hate CC's too, if I dont have the cash I dont need it. I did recently break down and I bought a new computer with my CC... it sucks not to have a computer. After that I lucked up on a full time job, so I'll knock that bill out quick and not owe anybody anything once again.

I did owe about $1800 bucks on a card from buying 'stang parts a few years ago, I paid that off ASAP. But I guess I'm still getting my moneys worth from it, so I didnt do too bad.

 

[S&B]

dont finance a hobby, We need to end the "nomal american" way of buying things we cant pay for

 

[Mustang5L5]

I still love those "I'm gonna take out a $10,000 loan to modify my $1000 Mustang posts though." Those always give me a kick

 

[Shaolin Crane]

I keep one for emergencies and online purchases. I usually carry only cash with me, so i hate the idea of meeting some hot chick on the fly, inviting her to dinner and only having $20 on me.

i only use cards, but thats because im a self defense instructor, i always have the self defense awareness alert on, less cash lessens the risk of someone trying to mug me, now granted i love a challenge but those situations are easier to deal with when you hand over your wallet and all you have is plastic, i have a debit card just never cash, and i have a healty enough cushion of cash in my home safe for emergencies so its cool