How can I save enough money for my first car?
At 13, you are already ahead of others your age in financial terms. I was fortunate to learn the secrets about saving money and getting what I wanted at a young age! Ok, so you are hoping to go and work at Kmart next year, this is great and you will earn a good wage as a junior team member, most businesses are always on the lookout to employ young staff because they are cheap to hire, so just remember this. (if you work hard, people will notice and rewards will show themselves) When you get paid, make sure you spend your first paycheck on something or a few things you want, this will give you work satisfaction and enable you to come to work with the knowing that work equals money which equals reaching your goals (in your case, the $10,000 you need to save for your NICE first car!) You need to create a budget plan and savings plan to stick to etc, once you have done this, you will need to find a bank account that pays you a good rate of interest and have your employers deposit money into this account, (I recommend using UBank, they are backed by the National Australia Bank and give you a 6+ % interest rate, which is better than most offline banks will give you, this will allow you to earn money (interest) from your money and effectively, save your money faster, the bank also has a savings widget on their website, this is where you can plan your money goal and work out what to save each week / month, in order to get to your goal! Remember one thing, it's not about what you earn, it's what you save and how you save / invest your money, if you can learn these lessons at 13, you will have a happy financial life and money will never be an issue for you. I must warn you, make a concious decision to stay away from shopping centres and other "money spending / Urge to buy / impulse buying" forms of media / shops, these will ruin your savings plans and keep you always wanting the "LATEST" toy or item, not a recipe for success and a distraction to your overall goal! I work as a waiter and invest my money into various well researched investments, at 19, I was driving a Mercedes, I owned a massive flatscreen TV and had more money in the bank than I knew what to do with, I kept my same principles and today at age 21, have nearly $100,000 in cash, investments and assets. Keep to your track and stick to your goals, you will get there in the end! Good luck kid! :-)
How can i save up money to get a car ?
Im 16 , will be 17 in June and I'm trying to get a car then and I work at krogers and I get payed every week and I was wondering how much money should I save up a week?and how much do you thinly I will have by June and what kind of car do you think I should get ? Mustang or honda ?
When did you start saving money for your first car?
13 is as good an age as any to start saving. My first car was a 1972 Chevy Nova I bought out of a friends' junkyard for $100. I drove it for 2 years while I restored a 1953 Pontiac coupe. Started saving for college at the same time. Back then college was $500 a semester. When I graduated it was near $750. At 13 you should focus on making and saving some money while you have very few expenses. For income, I did yard work in the neighborhood and junked cars. I would buy old Chryslers , pull out the engines and sell them. I don't know what business opportunities are in your area; but you should explore them all. Even if you just start selling stuff on eBay, it's money you can bank. If you live in the USA, you can get college money through the National Guard or reserves. I know a few people who went through college that way. Hope this helps.
How do I buy my first car?
I think the main thing you have to watch out for when buying your FIRST car is to make sure1. It's reliable2. It's cheap3. It's slow4. It's very strongComing from a guy living in the country with the shittiest drivers, this is why I think those are good standards when you're buying your first car.It has to be reliable because this is your FIRST car. If you don't know anything about cars you won't know how to fix it when you run into problems. Go Japanese like Honda, Toyota, etc. Make sure it's cheap. You want to MAKE SURE it's cheap because it is your first car. You don't want it to be expensive because it's your first car. It's the car you use to practice and become a better driver. If you crash, it will be no problem because it will be easy to repair and you won't worry about it more. Most people would worry about crashing it because it's a brand new shiny toy. But it's something for you to practice driving with so it should be cheap for when you get in an accident or when you need to repair it for messing it up.It has to be slow. I can't stress this enough, IT HAS TO BE SLOW. I live in China, the country with some of the shittiest drivers in the world. I've heard endless stories of people getting into accidents with their 400+ hp BMW's and also killing and injuring others while at it. These are mainly little spoiled 18 year-olds after just picking up their licenses. They don't know how to control the power and they don't understand the danger of 400+ hp. So you need to practice with a slower car. Last idea is that it has to be fairly strong so if or when you get in an accident you will be ALIVE. RIP Lee family I will miss you all
I am earning 90,000 per month in india, and I want to buy my first car, how can I buy? Can a person who earns 90,000 afford a car worth 7-9 lakhs?
I would like to give you a different perspective. I would suggest buy a car that would cost you up-to maximum of 50% of your yearly salary.You have mentioned (Your First Car) so can I safely assume this will be the car that you will be learning driving on, just after you get your driving license?Key Reasons for this:A low cost car (could be a new one or a second hand premium car) would hurt you less when you have scratches, dents on it.You could use this for 2 years till you gain expertise and have dented the car during your learning period.Cost of insurance is building up. For smaller cars it could be between 8-12k, and the premium goes up as the cars price goes up. No one really cares what car you drive, unless you have extreme social pressure of owning an expensive car. You will not mind lending your car to your friend, neighbour, colleague knowing its just a means of transport (lower investment on the car).After 2 years, given your salary goes up to 15 LPA, you will think of buying a larger car or decide to stick to the present car itself.And if you are in Delhi, you may think of buying another car after 2 years with a (Odd/Even) number that you may need to :-)P.S: I have only bought second hand cars throughout which cost me less than a half years pay always. I pay less when I buy, I loose less when I sell!
16 year old- first car?
First car--Price range? I am a 15 year old girl & i turn 16 in April. Of course, ive been thinking about getting my licsense, driving, and cars. I come from a middle class family and just want some opinions from you guys(: but first, i just want to tell you all that i AM NOT a spoiled brat. Im a sophomore in highschool with a 4.25 gpa (in college/honors classes) and am a very mature, responsible person. & Im not saying this to show off... Ok so first of all, what are your opinions of 16 year olds getting/having cars? 2. How much money would you (if your child was turning 16) would you spend on a car? 3. My parents said my budget would be around $13,000 (max). Yes, my parents said they would buy me my first car; but like i said before, i promise im not a brat. Do you think this is too much? What are your opinions of this?? I told them i would get a job over the summer to help pay for it as well. & Yes, i do know the "value of earning money". I just want other peoples input.
Whats the best way to save money for my 1st car?
I want to start saving money for a good car. I have my eyes set on a Jeep Grand Cherokee. It is $3.900. I am studying to get my learners permit here real soon. And I have always wanted to Jeep Grand Cherokee. What the best way to save money for my 1st car?