yea i dont know how people do it either all i do with my money is pay for my car and mantinance and all iv been able to afford is an intake and a fuel pump and thats with not paying any rent and living at home lol

 

Since you quoted my mortgage I assume this is directed at me. I never said this was a big mortgage....just compared to an $800 rent it is a big nut. As far as quoting the tri state area I used to live in Glen Ridge NJ so anyone who knows the area can comment on the cost....now I live in the third highest tax town in CT so if you saw my house you would realize $2,200 is nothing for my neighborhood. I want my kid to go to one of the highest ranked school systems in the state...so im willing to pay the taxes. Anyway the equity in your house depends on a bunch of factors. I sold my condo at the peak of the market three years ago netting $60grand....than I bought our house in crap shape for $245 and put down $30grand....Now (I spent about 20g's remodeling everything) if I sold the house three years later....even with the market sucking *** right now I would pull $150plus. So what....equity will always be in your home as long as your willing to pay the mortgage and live there a while.

 

I actually didn't mean to quote you; I wanted to reply to the guy who originally provided the example of $800 rent versus $2,200 for a mortgage and how buying a home is not a wise investment.

This was the quote I meant to reply to:

No intended offense directed towards you.

 

No problem....actually I was going to edit what I wrote because my wife walked by and just lite me up....she said "Why would you write on the internet what our mortgage is...your so materialistic"

So yeah...you didn't need to point out the flaws of my original post, she just did.

 

Same With Me I Dont Drink Smoke Or Gamble I Make A Decent Amount Of Money I Have About 9g's Invested In The Car Little By Little Thats All I Just Bought A Fule Pump And Im Going To Get A Full Setup Including A Turbo Off Of The Forums Thats The Way Im Going About The Car Get Used No Warenty But Affordable Hopefuly The People Keep Their Word About Wat They Say On The Forums . So To Put It In A Nutshell Manage Your Money Save If You Have To Or Get A Small Loan Build Up Credit And Get Some Parts Thats What I Did Got A Small Loan And Im Buying My Parts Used Everything Looks Cool So Far

 

Funny I honestly didn't find any faults in your post; I just mistakenly quoted you instead .

Funny thing you wrote about your wife though; women seem to have the ability to find fault in anything we men do .


I can't imagine the property taxes you're paying in CT; they must be sky high considering the excellent school districts and high median household income (I thing CT is still the top state in median household income).

I was actually born in CT; Milford to be exact, the former home of Milford Jai Lai.

 

Not To Bad For That Mortgage We Pay About 6gs And Then The Car Comes Last

 

I'm a financial planner, so I have a lot of insight when it comes to finances, budgeting, spending etc. I would bet that 75% of evo owners with heavily modded cars are in one of the following groups:

1. People supported by the parents- includes people who live at home and have no other bills than their car payment. Alot of kids don't go to college, start working full time at a decent paying job, and have no rent, utilities, or anything else. They claim that they paid for their car, but they could only afford it b/c someone else covers their living expenses.

2. Single guys with good to decent jobs who don't save anything- I'm engaged and dropped a combined $9,000 on a ring and honeymoon this year. I haven't saved anything, but also paid cash (or financed with 0% and aggressively paid off already). If I swapped my fiance expenses for evo expenses, my car would be flyin.

3. People who put it all on credit cards- my brother had (and was subsequently forced to sell 2 years later) a 650 hp Cobra with all supporting mods, 2.2L kenne bell, $5K stereo system with dvd, carbon fiber hood, chrome wheels, and a bunch of other stuff I don't even remember. He was so far in debt from the car he had to sell it just to pay off his credit cards.

The bottom line is, most people with modded cars have severly compromised their financial future in order to put a boatload of money into a car. Why do you think the for sale threads are littered with heavily modified cars. This is not unique to Evos, but it seems like younger people (who are more inclined to make these mistakes) are drawn to Evos.

Also, everyone on this forum (and every other internet outlet) probably grossly overexaggerates how much money they make. There are probably some outliers who make over $100K, but I bet the average is like $30K.

 

I have a fulltime job making good money and do contracting at home. I just started but average an extra 3-4k a month in income, half of this goes to the Evo, the other half goes to savings for tax and a down payment on a house.

 

Good ol' fashioned way. I'm a automotive tech, make 60K a year, have a wife and kid, and mild mods. Just balanced enough for me.

I save money on maintenance because I do it myself, and I put my mods in myself...cams, cam gears, injectors, etc.

But most young guys waste too much money. They spend too indiscriminately, so it's hard to do anything. If you buy a drink when you stop at the gas station, or pick up candy at the cash register at the supermarket, always eat out, buy CD's, DVD's, magazines, party, "hang out", then you're probably wasting a lot of money.

 

I'll be honest, I'm 28 now and would have loved to be in your position at your age to own such a car. I spent a long time building the cheaper cars (aka Honda lol) before I got to where I am now. I'm engaged, we both have excellent jobs for the area that we live in (by the area's standards though, there are places where our combined income would be considered middle class), pay mortgage on a house, and have all the bills and expenses to go with it along with 2 car payments and not to mention a free-loading 21yr old that soon I will call brother-in-law. I work hard and take care of the important stuff first (family and house), and any extra work or overtime I do ends up going towards car parts. I can do it comfortably this way, but by no means do I have a ton of parts on the car either.

 

I saved for the car upfront and payed cash for it. That way I don't have a car payment to get in the way of buying mods.
Good job and limit your expenses. BTW there is no way I could have bought an Evo in the first place, let alone mods when I was 21. So you are doing pretty well compared to most.

 

def take it slow no rush do it in stages by the way im in catagory 1 lol but help out at home with bills do stagesbest bet if your jsut starting off do an ams or buschour stage setup best wy to go i dint start that way but wish i did then when you save money drop a couple grand on a turbo if thatsthe power your looking for it will def get you to over 500+ whp get a good tooner

 

I have 2 roomates and pay 400 a month, thats how I afford mods. plus being in the military for 4 years

 

im a tattoo artist....... so right now, im getting everyones income taxes and summers rock..... so i stupididly blow a ton of money on my cars, instead of saving for wintertime where i can barely support my family... one day ill learn my lesson...one day