Quote:
Originally Posted by wtm442
Joe
If you are too busy with your primary job, then the second job is not feasible. Also, a second job is not going to pay enough to buy the Cobra you want.
Therefore, you will have to SAVE some of your existing paycheck to pay for the Cobra.
Figure it out. Assume that "someone" makes 50K in a year. And he/she wants to buy a 30K valued Cobra, and have it paid off within six years. Then he has to save only $5K a year. That is ONLY 10% of his/her salary.
Therefore, make up a list of things you normally buy and are willing to give up to get your Cobra. Then set up an automatic deduction from your paycheck that go directly into a separate account. You have to pay yourself first.
Give up a few things ... cigarettes, booze, restaurant dinners, new clothes every month, donuts in the morning .....
You will be amazed how fast you can come up with the $5K a year. And without a second job, it gives you more time to drive it (or work on it). Believe me, its much easier to save the money as compared to getting a second job.
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It kinda scares me but Warren and I agree very often when it comes to fiances.
I have to add a couple of things though....DO NOT FIANCE TOYS.When it comes to toys,if you can't pay cash you can't afford it.
Heck,I don't fiance anything.If I can't pay cash,I don't buy it.I'm 100% debt free.
Joe,You are only 35.From where I'm at,you're just a pup.Slow down.Saving up like Warren said,you can have a fully paid for Cobra when you are 40 or real close ! Fully paid for cars ride,run and feel nicer.
40 is a long way from old !!!
I'm 59 and I am waiting for warm weather to get on my Road King Classic Harley and tour Texas and then move towards seeing a lot of Arkansas,then......
I was 53 when I got my Cobra.
You are futher ahead than you might think.