I have a family friend who’s a financial dude (Some kind of investment manager) he says to me;
“Want some advice?”
“I spend all my money…” I said.
He cut me off and just said “Stop fucking around with cars!”
LOL
That’s probably the actual best financial advice for any of us idiots.
so true. When I look back at how much I blew fucking with cars its kind of sickening. I definitely wont do that ever again.
then your doing it wrong. No offense you my friends, just making discussion.
Cars, houses, properties, coke machine reconditioning, whatever it is you want to do can make you money, break you even, or atleast not be a total money pit. I have lost my ass on cars, and I have made out very well on others. If you keep it simple, buy/build low sell high you will win. But dont paint the car some lambo green becasue you like it, paint it a nice solid color alot of people will like. What I am saying is, its very hard to build somthing you want and will be easily marketable to others. Also the higher end the car or project, the lesser the margin for “error” there is. if you look at it $ wise, not % wise. Dumping $5K into a rusted civic worth $1K initially, you would be hard pressed to get $6k for. But if you dumped $50K into a $10K 32 ford 3 window, producing a show winning frame off custom… pitched to the right market you have $60-80+K car.
So basically what you’re saying is if you’re into cars for the point of selling them to other people when you’re done you might break even?
I highly highly doubt there is anyone other than a car dealer, that can make money at this stuff. Almost certainly if you factor in the cost of tools, renting/owning/heating/lighting space and other junk.
Sorry, that’s not why I do this stuff. It’s a hobby, an interest in technology and 3 dimensional jig saw puzzles to me.
The point is, I could’ve done a lot smarter things with my money than buy stuff for cars.
It’s not about making money on interest. It’s about separating funds into an account that isn’t a walk up bank you can just withdraw from. This isn’t a how to make money thread, it’s about saving.
I have 3 bank accounts and can’t tell you the last time I drove to the bank, especially to make a deposit. You can’t put money into real estate on a weekly basis and I don’t get paid in cash so it has to get deposited somewhere. Saving at a non-physical bank with no debit card is like prevention from buying big dumb shit spontaneously.
You can have all the money in the world. If you’re so paranoid that you don’t want to spend it, then what good is it to have? Everyone needs a hobby and something to do to occupy your mind, generally that means spending a little and not getting a return. However everyone needs to save some. Spending entire paychecks and stretching yourself thin for a hobby isn’t healthy either. That’s why Iam 100% satisfied with my S2000 and could give two fucks less that its not turbo and has an OEM exhaust. It’s reliable, looks good (in my opinion), and doesn’t need constant attention and maintenance.
Like I’ve said for years; I could’ve saved well over $100K if I didn’t buy cars and car parts. But the people I’ve met and the fun I’ve had cant be bought for any price.
Lots of financial consultants ITT
I was talking about someone’s post that said to put your money in a savings account to make 1%…
Your situation sounds like you have no self control.
Totally different.
Coming from the guy who’s given more insight about his financials than anyone on shift…
I not saying “Make Money” like for a living money, I am saying its not that hard to find a platform you want to play with, find good deals on the car and the parts, and DIY or pay people to do it for ya. MK4 gti, stock, clean enough, higher kmi roller ($2000 on cl, $500 on a set of used coilovers, $1200 on a set of nice wheels and decent tires, $100 in shit to detail it inside, buff it outside. $3800 into it. You cant tell me that you cant sell a simple clean car like that for $3800, or more.
its all about not going over the top and being smart. Jse, Wayne, Love4… the top 3 guys IMO here that seem to do very well at playing the car game.
I dont even follow your concept here. If people need to spearate their money in 30 places in order to save it, thats not solving the problem… saving money shouldnt have to come down to hiding it from reach.
exactly.
every dime can be put in a shoe box for all I care. saving it is exactly that, not spending it. Doesnt matter where it is. Spending it with regret after the purchase is the root of “wasting money”.
That’s right.
I said that originally, but it wasn’t so much about the interest rate, it was about having an out of reach bank account that a percentage of my pay will always go to and accumulate. If it all goes to my SEFCU account, I am more prone to burn it due to poor spending habits or lack of self control.
This is EXACTLY what I mean. Thank you.
This is why you’re awesome.
Perfectly stated.
REPZ. And in the words of Bakerian YOLO.
F.B.G.M.
If it ain’t about money ***** I don’t need it
Got a hundred grand in my ashtray
Spend 100k on a bad day
And I’m tatted like a cholo