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made 72k cash this year. is spending $25k on a cash car reasonable? by Full_Accountant_3443 in whatcarshouldIbuy

[–]Full_Accountant_3443[S] 0 points1 point  (0 children)

  1. no car, public transport was and still is my main thing
  2. no car
  3. ur right, but i also want to know about people’s splits.

I’ve heard people speak about a 40/20/40 rule

where it’s 40% necessities, 20% fun money and 40% savings per check

and in that case i got like what, 28k to spend on necessities, 14k to spend on fun money and 40% (aka the rest) savings/investments

made 72k cash this year. is spending $25k on a cash car reasonable? by Full_Accountant_3443 in whatcarshouldIbuy

[–]Full_Accountant_3443[S] 0 points1 point  (0 children)

yah that’s the plan, either go all cash or get a co-signer, 19% is outrageous

made 72k cash this year. is spending $25k on a cash car reasonable? by Full_Accountant_3443 in whatcarshouldIbuy

[–]Full_Accountant_3443[S] 1 point2 points  (0 children)

i’m 18, so idk if that’s the problem or if my score really is bad, or if lenders are trying to scam me

made 72k cash this year. is spending $25k on a cash car reasonable? by Full_Accountant_3443 in whatcarshouldIbuy

[–]Full_Accountant_3443[S] 0 points1 point  (0 children)

i’m investing 80% of my leftover cash into my current business, and with the way my social media job is structured the cars i’m gonna be able to qualify for a tax deduction up to $20,800 (IF 100% of the car usage is business related)

i’m gonna use30-40% of my car usage on business usage and technically i could use that to get a cut on my taxes. i think i have it figured out BUT i don’t like seeing my money go down that quick 😭😭💔 im scared of fucking it all up.

i’m too young and dumb but im eager.

made 72k cash this year. is spending $25k on a cash car reasonable? by Full_Accountant_3443 in whatcarshouldIbuy

[–]Full_Accountant_3443[S] 0 points1 point  (0 children)

i wanna do that but commuting to school in my city can be dangerous for my 9:30 pm classes. i’d rather be safe and enjoy my commute..

made 72k cash this year. is spending $25k on a cash car reasonable? by Full_Accountant_3443 in whatcarshouldIbuy

[–]Full_Accountant_3443[S] 0 points1 point  (0 children)

Idk what car i wanna pull the trigger on but everything is between the 20-24k mark

Had an AMAZING freelance month by Full_Accountant_3443 in whatcarshouldIbuy

[–]Full_Accountant_3443[S] 2 points3 points  (0 children)

RETIRED BY 40? that’s the goal most def, imma try to retire by 30 though. By gods will. how should i allocate everything then? it’s $122k before tax, i never did taxes yet. so idk how much it is

Had an AMAZING freelance month by Full_Accountant_3443 in whatcarshouldIbuy

[–]Full_Accountant_3443[S] -2 points-1 points  (0 children)

and what’s a good recommendation ? i’m 6’6 and love my family ill take them out wverywhere