Financing a new bike

toostroke
Profile picture for user toostroke
Posts
130
Joined
5/7/2019
Location
South Jersey, NJ, USA
toostroke 5/11/2019 5:02pm
5/11/2019 5:02pm
Gotland Edon wrote:
[img]https://p.vitalmx.com/photos/forums/2019/05/11/346419/s1200_ddf4fabdecb7542a500ff85348125558ac2dddf8845428499258069ed900f55e.jpg[/img]

What I’m asking yes or no is not a valid answer but okay lol
1
racerx217
Profile picture for user racerx217
Posts
1204
Joined
10/10/2008
Location
USA
racerx217 5/11/2019 5:20pm
5/11/2019 5:20pm
toostroke wrote:
Hey I’m looking into buying a new bike soon. Was wondering how much do you finance guys pay per month for them? I know it’s not...
Hey I’m looking into buying a new bike soon. Was wondering how much do you finance guys pay per month for them? I know it’s not a good idea but I don’t want/ have the money to pay 6-7k right now. Just wondering out of curiosity.
Gotland Edon wrote:
[img]https://p.vitalmx.com/photos/forums/2019/05/11/346419/s1200_ddf4fabdecb7542a500ff85348125558ac2dddf8845428499258069ed900f55e.jpg[/img]

Who cares what that douche canoe says, really get tired of hearing people quote him. Just because you had no financial common sense and he taught you that you cannot spend more than you make, and that you actually have to save some of your money....
13
3
Brad460
Profile picture for user Brad460
Posts
4496
Joined
5/15/2012
Location
Richfield, WI, USA
Fantasy
260th
Brad460 5/11/2019 5:42pm
5/11/2019 5:42pm Edited Date/Time 5/11/2019 5:43pm
We like to keep a large chunk of cash in our savings account because this gives us a comfort zone should one of us lose our job or some other reason. I am willing to pay interest on a loan (even though I could pay cash for just about anything we want) to keep this high level of comfort.

I am 100% ok with financing a bike..or whatever the fuck someone wants. Who cares if you pay some interests..I can assure you people are pissing money away on much other useless shit...
12
1
gavinmgrant
Profile picture for user gavinmgrant
Posts
72
Joined
4/4/2018
Location
Goldsboro, NC, USA
gavinmgrant 5/14/2019 9:49am
5/14/2019 9:49am
Also if you're military you can finance through synchrony bank at 0% if that applies to anyone in this thread. Many of my friends have taken advantage of that.
1

The Shop

See All »
Shaggin589
Profile picture for user Shaggin589
Posts
223
Joined
4/30/2019
Location
Gallatin, TN, USA
Shaggin589 5/14/2019 11:30am
5/14/2019 11:30am
My 19 kx450 is the first new dirtbike I’ve ever bought. Pretty much first new thing period. Every used bike I’ve bought I’ve still had to put some money into it to counteract changes the first owner made and charged for (suspension, plastics or wheels I didn’t like, etc.). I decided I wanted new and although I could have afforded to buy it cash upfront I wanted more money in my account. If I got hurt and owned the bike outright but had no cash left I would have to put money on credit cards etc until my bike sold and then I’m hit with interest there. I’d rather have cash at the ready. But saving up 4-5yrs to buy a bike or buying a cheap used bike that you constantly have to buy parts for is ridiculous. I don’t have a wife or kids so my motto is life is short do what you want now and I have no big regrets about that yet. And also never sign a loan for a high %. Just be smart and don’t finance EVERYTHING and go rip a freshie
2
1
MelonFan123
Profile picture for user MelonFan123
Posts
1556
Joined
8/20/2006
Location
Ventura/LA County, CA, USA
MelonFan123 5/14/2019 11:51am
5/14/2019 11:51am
I love how threads like these always turn into a subtle brag-fest from dudes who have to tell everyone how financially smart they have been
16
2
mattyhamz2 5/14/2019 12:11pm
5/14/2019 12:11pm Edited Date/Time 5/14/2019 12:14pm
MOTO732 wrote:
Financing depreciable assets is not wise.
fourfourone wrote:
Sorry but as that comment is correct not everyone has the ability to pay cash for everything. This forum is full of older established riders and...
Sorry but as that comment is correct not everyone has the ability to pay cash for everything.

This forum is full of older established riders and ex riders who have set themselves up well financially and can afford to buy toys cash. For most of us with high living expenses, average jobs etc... financing is the only way. I rather live with a bit of debt and enjoy the hell out of motocross then sit back and worry about paying 500 extra dollars because I financed something.

JB500 wrote:
Personally I’m a proponent of the single payment plan. Pay cash. Even if it takes a bit longer. For you to say “not everyone has the...
Personally I’m a proponent of the single payment plan. Pay cash. Even if it takes a bit longer. For you to say “not everyone has the ability” and “is the only way” is false. What you mean is some people “choose to do....”. You could buy a dirt bike with cash if you wanted to. You would just have to maybe sacrifice a few other things, or save for a while, or whatever....but saying it’s impossible is far from accurate. Best of luck with whatever you choose, either way, Hope you will be riding soon!
If I did it this way, I'd never buy a bike. The amount of money per month that I'd pay for a bike would be spent somewhere else if I tried saving it. At least if I finance the bike, I'd have one in the garage. On top of the fact that I'd have a hard time parting with $9k worth of cushion in the bank.
3
2
kb228
Profile picture for user kb228
Posts
6153
Joined
1/31/2018
Location
Mansfield, OH, USA
kb228 5/14/2019 12:45pm
5/14/2019 12:45pm
fourfourone wrote:
Sorry but as that comment is correct not everyone has the ability to pay cash for everything. This forum is full of older established riders and...
Sorry but as that comment is correct not everyone has the ability to pay cash for everything.

This forum is full of older established riders and ex riders who have set themselves up well financially and can afford to buy toys cash. For most of us with high living expenses, average jobs etc... financing is the only way. I rather live with a bit of debt and enjoy the hell out of motocross then sit back and worry about paying 500 extra dollars because I financed something.

JB500 wrote:
Personally I’m a proponent of the single payment plan. Pay cash. Even if it takes a bit longer. For you to say “not everyone has the...
Personally I’m a proponent of the single payment plan. Pay cash. Even if it takes a bit longer. For you to say “not everyone has the ability” and “is the only way” is false. What you mean is some people “choose to do....”. You could buy a dirt bike with cash if you wanted to. You would just have to maybe sacrifice a few other things, or save for a while, or whatever....but saying it’s impossible is far from accurate. Best of luck with whatever you choose, either way, Hope you will be riding soon!
mattyhamz2 wrote:
If I did it this way, I'd never buy a bike. The amount of money per month that I'd pay for a bike would be spent...
If I did it this way, I'd never buy a bike. The amount of money per month that I'd pay for a bike would be spent somewhere else if I tried saving it. At least if I finance the bike, I'd have one in the garage. On top of the fact that I'd have a hard time parting with $9k worth of cushion in the bank.
Youre still parting with $9,000... -$9,000 + $9000 = $0. Net worth is the same no matter which way you go - actually a little worse with financing. Besides, you should have the $9000 on top of another cushion. And the pain of paying cash is what keeps people from spending money. credit/debit card users spend more money than if they paid cash. Doesnt hurt that way.
2
2
mattyhamz2 5/14/2019 12:54pm
5/14/2019 12:54pm
JB500 wrote:
Personally I’m a proponent of the single payment plan. Pay cash. Even if it takes a bit longer. For you to say “not everyone has the...
Personally I’m a proponent of the single payment plan. Pay cash. Even if it takes a bit longer. For you to say “not everyone has the ability” and “is the only way” is false. What you mean is some people “choose to do....”. You could buy a dirt bike with cash if you wanted to. You would just have to maybe sacrifice a few other things, or save for a while, or whatever....but saying it’s impossible is far from accurate. Best of luck with whatever you choose, either way, Hope you will be riding soon!
mattyhamz2 wrote:
If I did it this way, I'd never buy a bike. The amount of money per month that I'd pay for a bike would be spent...
If I did it this way, I'd never buy a bike. The amount of money per month that I'd pay for a bike would be spent somewhere else if I tried saving it. At least if I finance the bike, I'd have one in the garage. On top of the fact that I'd have a hard time parting with $9k worth of cushion in the bank.
kb228 wrote:
Youre still parting with $9,000... -$9,000 + $9000 = $0. Net worth is the same no matter which way you go - actually a little worse...
Youre still parting with $9,000... -$9,000 + $9000 = $0. Net worth is the same no matter which way you go - actually a little worse with financing. Besides, you should have the $9000 on top of another cushion. And the pain of paying cash is what keeps people from spending money. credit/debit card users spend more money than if they paid cash. Doesnt hurt that way.
You're 100% right that you should have $9000 on top of another cushion, but that isn't necessarily realistic for many people, especially in California if you're on the younger side. I unfortunately don't have any cushion, or the $9000. It's unfortunate, but I have a home for my family and a safe vehicle with a warranty for the wife and kids.

For many, it's easier to part with $150-$200 a month vs trying to put they money away over time for a bike, car or whatever else. Plus you build up credit at the same time. Sure, you pay a bit more with interest, but you have it right away. Saving $250 a month would take 3 years to buy a bike with cash and that doesn't include having certain things come up.
1
7eleven
Profile picture for user 7eleven
Posts
655
Joined
8/20/2012
Location
Aliso Viejo, CA, USA
7eleven 5/14/2019 1:00pm
5/14/2019 1:00pm
I think the art of WORKING HARD for a new/used bike has been a little lost. Let yourself be driven by the desires of that new/used bike and get your ass out there to make and save every dollar. Do anything/everything you can to make extra money! You'll surprise yourself on how motivated you can become.
My 3rd year racing i was in the situation of my old 125 was beat to death, like i could not start the season on this steaming pile of shit, it was useless. That spring, I landscaped all week, did whatever other work I could find on Saturdays and on Sunday I would go to the races and help the announcing, which was super fun.
I did this for 3 months straight and bought a used Suzuki 125 from my Dealer. That fall, I won an Amateur Championship on that bike.
I made a plan, worked my ass off and the whole year came together for me.

PS- Sell your bike before it becomes a shitbox or you'll end up throwing it in the trash, or parting it out and losing more money than you should.
3
c0ncEpT
Profile picture for user c0ncEpT
Posts
1317
Joined
5/13/2015
Location
Harrison Twp., MI, USA
c0ncEpT 5/14/2019 1:07pm
5/14/2019 1:07pm
MelonFan123 wrote:
I love how threads like these always turn into a subtle brag-fest from dudes who have to tell everyone how financially smart they have been
It actually took longer than I thought before guys started measuring dicks in this thread.
2
2
fourfourone
Profile picture for user fourfourone
Posts
3046
Joined
10/14/2017
Location
86oh, CT, USA
fourfourone 5/14/2019 1:11pm
5/14/2019 1:11pm
MelonFan123 wrote:
I love how threads like these always turn into a subtle brag-fest from dudes who have to tell everyone how financially smart they have been
c0ncEpT wrote:
It actually took longer than I thought before guys started measuring dicks in this thread.
50% of people on here are over the hill former riders. Great that you can pay cash for a bike. Most moto guys I know barely scrape by so they can ride. Who gives a shit if they finance a bike for more then a few percent interest rate.
7
1
fourfourone
Profile picture for user fourfourone
Posts
3046
Joined
10/14/2017
Location
86oh, CT, USA
fourfourone 5/14/2019 1:13pm
5/14/2019 1:13pm
when im 80 years old and can barley wipe my ass, am I really going to think wow, i'm so happy I saved a few hundred dollars in interest buying clapped out bikes all those years.
15
1
Euffy
Profile picture for user Euffy
Posts
2
Joined
8/12/2020
Location
New York, NY, USA
Euffy 8/13/2020 2:38pm
8/13/2020 2:38pm Edited Date/Time 8/15/2020 10:43am
Don't finance through the dealer. They have obscene rates. Go to your bank and see what kind of rates they can give you. Better yet, get installment loans.
3
tobz
Profile picture for user tobz
Posts
3891
Joined
3/5/2007
Location
Adelaide, AU
tobz 8/13/2020 4:59pm
8/13/2020 4:59pm Edited Date/Time 8/13/2020 5:00pm
MelonFan123 wrote:
I love how threads like these always turn into a subtle brag-fest from dudes who have to tell everyone how financially smart they have been
c0ncEpT wrote:
It actually took longer than I thought before guys started measuring dicks in this thread.
fourfourone wrote:
50% of people on here are over the hill former riders. Great that you can pay cash for a bike. Most moto guys I know barely...
50% of people on here are over the hill former riders. Great that you can pay cash for a bike. Most moto guys I know barely scrape by so they can ride. Who gives a shit if they finance a bike for more then a few percent interest rate.
Terrible excuse. If you can afford the repayments you can afford to save for your own bike. It’s a lazy way out, throws money down the drain, and can put you in a shit position if your income drops.

The banks will love you for it tho, why not throw an exhaust and suspension work on the credit card, 24 months interest free!
2
10
mxb2
Profile picture for user mxb2
Posts
22437
Joined
6/15/2010
Location
Bowie, MD, USA
mxb2 8/13/2020 5:10pm
8/13/2020 5:10pm
c0ncEpT wrote:
It actually took longer than I thought before guys started measuring dicks in this thread.
fourfourone wrote:
50% of people on here are over the hill former riders. Great that you can pay cash for a bike. Most moto guys I know barely...
50% of people on here are over the hill former riders. Great that you can pay cash for a bike. Most moto guys I know barely scrape by so they can ride. Who gives a shit if they finance a bike for more then a few percent interest rate.
tobz wrote:
Terrible excuse. If you can afford the repayments you can afford to save for your own bike. It’s a lazy way out, throws money down the...
Terrible excuse. If you can afford the repayments you can afford to save for your own bike. It’s a lazy way out, throws money down the drain, and can put you in a shit position if your income drops.

The banks will love you for it tho, why not throw an exhaust and suspension work on the credit card, 24 months interest free!
Who cares, not your $$ or decision. Pretty sure in your life you have blown money on shit you shdnt have.
6
5
tobz
Profile picture for user tobz
Posts
3891
Joined
3/5/2007
Location
Adelaide, AU
tobz 8/13/2020 5:52pm
8/13/2020 5:52pm
fourfourone wrote:
50% of people on here are over the hill former riders. Great that you can pay cash for a bike. Most moto guys I know barely...
50% of people on here are over the hill former riders. Great that you can pay cash for a bike. Most moto guys I know barely scrape by so they can ride. Who gives a shit if they finance a bike for more then a few percent interest rate.
tobz wrote:
Terrible excuse. If you can afford the repayments you can afford to save for your own bike. It’s a lazy way out, throws money down the...
Terrible excuse. If you can afford the repayments you can afford to save for your own bike. It’s a lazy way out, throws money down the drain, and can put you in a shit position if your income drops.

The banks will love you for it tho, why not throw an exhaust and suspension work on the credit card, 24 months interest free!
mxb2 wrote:
Who cares, not your $$ or decision. Pretty sure in your life you have blown money on shit you shdnt have.
It's a thread asking on opinions of applying for finance for a hobby Wink

But sure, load her up son, live life conveniently with one (large) monthly repayment at time without actually owning any of your shit.
11
yamahaha131
Profile picture for user yamahaha131
Posts
730
Joined
4/7/2010
Location
Newark, OH, USA
yamahaha131 8/13/2020 6:57pm
8/13/2020 6:57pm
I paid $168 a month which I didn’t consider that big of a payment if it’s your only hobby? We as a family
live below our means in most aspects. Paid it off a couple years early. Peace of mind for a new 4 stroke is worth every penny I paid in a little interest vs paying cash for something I know no history on. Just my 2 cents.
4
2

Pit Row

See All »
mxb2
Profile picture for user mxb2
Posts
22437
Joined
6/15/2010
Location
Bowie, MD, USA
mxb2 8/13/2020 7:26pm
8/13/2020 7:26pm
tobz wrote:
Terrible excuse. If you can afford the repayments you can afford to save for your own bike. It’s a lazy way out, throws money down the...
Terrible excuse. If you can afford the repayments you can afford to save for your own bike. It’s a lazy way out, throws money down the drain, and can put you in a shit position if your income drops.

The banks will love you for it tho, why not throw an exhaust and suspension work on the credit card, 24 months interest free!
mxb2 wrote:
Who cares, not your $$ or decision. Pretty sure in your life you have blown money on shit you shdnt have.
tobz wrote:
It's a thread asking on opinions of applying for finance for a hobby ;) But sure, load her up son, live life conveniently with one (large)...
It's a thread asking on opinions of applying for finance for a hobby Wink

But sure, load her up son, live life conveniently with one (large) monthly repayment at time without actually owning any of your shit.
I have paid cash and financed before. So far so good. But i also.dont have a $1200 iphone like i bet some on vital.do.
3
tobz
Profile picture for user tobz
Posts
3891
Joined
3/5/2007
Location
Adelaide, AU
tobz 8/13/2020 7:31pm
8/13/2020 7:31pm
mxb2 wrote:
Who cares, not your $$ or decision. Pretty sure in your life you have blown money on shit you shdnt have.
tobz wrote:
It's a thread asking on opinions of applying for finance for a hobby ;) But sure, load her up son, live life conveniently with one (large)...
It's a thread asking on opinions of applying for finance for a hobby Wink

But sure, load her up son, live life conveniently with one (large) monthly repayment at time without actually owning any of your shit.
mxb2 wrote:
I have paid cash and financed before. So far so good. But i also.dont have a $1200 iphone like i bet some on vital.do.
That’s great buddy thanks for sharing.
9
Shaggin589
Profile picture for user Shaggin589
Posts
223
Joined
4/30/2019
Location
Gallatin, TN, USA
Shaggin589 8/14/2020 6:56am
8/14/2020 6:56am Edited Date/Time 8/14/2020 6:57am
Euffy wrote:
Don't finance through the dealer. They have obscene rates. Go to your bank and see what kind of rates they can give you. Better yet, get...
Don't finance through the dealer. They have obscene rates. Go to your bank and see what kind of rates they can give you. Better yet, get installment loans.
Full coverage on my 2020 KX450 is $240 a year so that’s $20 a month. Not even worth considering. Pay it in full upfront and never worry about it

If I were to buy a used bike or new bike cash I would still put insurance on it to cover things like theft.


1
mxb2
Profile picture for user mxb2
Posts
22437
Joined
6/15/2010
Location
Bowie, MD, USA
mxb2 8/14/2020 7:41am
8/14/2020 7:41am
tobz wrote:
It's a thread asking on opinions of applying for finance for a hobby ;) But sure, load her up son, live life conveniently with one (large)...
It's a thread asking on opinions of applying for finance for a hobby Wink

But sure, load her up son, live life conveniently with one (large) monthly repayment at time without actually owning any of your shit.
mxb2 wrote:
I have paid cash and financed before. So far so good. But i also.dont have a $1200 iphone like i bet some on vital.do.
tobz wrote:
That’s great buddy thanks for sharing.
Yep,, same to you.
3
Falcon
Profile picture for user Falcon
Posts
12457
Joined
11/16/2011
Location
Menifee, CA, USA
Falcon 8/14/2020 8:40am
8/14/2020 8:40am
Here's how it works for me:

I identify efficiencies in my life that I can leverage for more money. Don't buy $5 coffee at Starbucks = there's $10-$15-maybe $100 per month. Take a bag lunch instead of buying = there's another $100-$200 monthly. Don't buy a new car every couple years = now my truck is paid off = there's $400 per month.

My wife then "magically" identifies absolute must-have necessities that somehow equal precisely the same amount of money I saved. It really is magical how precisely those figures line up. It's almost like she just looks at the bank balance as "must spend" dollars. ...Oh wait, that's exactly what she does. Angry

I'd rather secure some of my own hard-earned money for myself. I commit to financing, which then becomes a monthly bill that we must pay. It subtracts from her "slush" fund and adds to my "get to spend a few of my own dollars on myself" fund.

I think I'll be financing a new bike soon!
2
2
BroFoSho
Profile picture for user BroFoSho
Posts
739
Joined
9/26/2013
Location
Tucson, AZ, USA
BroFoSho 8/14/2020 8:50am
8/14/2020 8:50am
If you can get 0%, why wouldn't you finance???
7
2
sandtrack315
Profile picture for user sandtrack315
Posts
2847
Joined
7/19/2013
Location
Philadelphia, PA, USA
sandtrack315 8/14/2020 9:16am
8/14/2020 9:16am
Look, if the finance rate is zero, and you have a high interest savings account, you're losing money not financing. I understand that this is not the situation most people looking to finance are in, but let's not act like a 0 percent loan is not a great deal.

The one bit of good advice I have seen here is to insure the bike. I use progressive, it's something like 150 bucks a month, and I live at the edge of Philadelphia Evil . I guess I'd feel as strongly about insurance if I was paying cash, but it would just really hurt to be paying a bank monthly and not have a bike!
mx 219
Profile picture for user mx 219
Posts
4040
Joined
8/15/2010
Location
South Central, PA, USA
mx 219 8/14/2020 11:18am
8/14/2020 11:18am
Falcon wrote:
Here's how it works for me: I identify efficiencies in my life that I can leverage for more money. Don't buy $5 coffee at Starbucks =...
Here's how it works for me:

I identify efficiencies in my life that I can leverage for more money. Don't buy $5 coffee at Starbucks = there's $10-$15-maybe $100 per month. Take a bag lunch instead of buying = there's another $100-$200 monthly. Don't buy a new car every couple years = now my truck is paid off = there's $400 per month.

My wife then "magically" identifies absolute must-have necessities that somehow equal precisely the same amount of money I saved. It really is magical how precisely those figures line up. It's almost like she just looks at the bank balance as "must spend" dollars. ...Oh wait, that's exactly what she does. Angry

I'd rather secure some of my own hard-earned money for myself. I commit to financing, which then becomes a monthly bill that we must pay. It subtracts from her "slush" fund and adds to my "get to spend a few of my own dollars on myself" fund.

I think I'll be financing a new bike soon!
set a budget, this is really what it all comes down to. It's not hard. You brought up good points about not buying $5 coffee, bagging your lunch, not buying a new truck every 2-3 years, etc.


My wife and I have set a budget s since we have gotten married (2017) and thankfully we haven't had a bunch "slush fund" purchases, mostly because we limit our slush fund. We have a budget for everything, including hobbies, and I'm pretty happy with where we are.
1
sandtrack315
Profile picture for user sandtrack315
Posts
2847
Joined
7/19/2013
Location
Philadelphia, PA, USA
sandtrack315 8/14/2020 11:19am
8/14/2020 11:19am
BroFoSho wrote:
If you can get 0%, why wouldn't you finance???
To lord it over people on vital that you paid cash
5
2
MotofactioN
Profile picture for user MotofactioN
Posts
645
Joined
6/25/2020
Location
Gloucester, VA, USA
MotofactioN 8/14/2020 11:25am
8/14/2020 11:25am Edited Date/Time 8/14/2020 11:25am
Guys on here telling you you’re an idiot for financing that $9,500 dirtbike but yet have a $65,000 truck that they’re making payments on sitting in the driveway. Dry

It’s all about what makes you happy Cool

But in the end, we are all riding dirtbikes and supporting the industry, so who gives af.
6
1
Falcon
Profile picture for user Falcon
Posts
12457
Joined
11/16/2011
Location
Menifee, CA, USA
Falcon 8/14/2020 11:47am
8/14/2020 11:47am
Falcon wrote:
Here's how it works for me: I identify efficiencies in my life that I can leverage for more money. Don't buy $5 coffee at Starbucks =...
Here's how it works for me:

I identify efficiencies in my life that I can leverage for more money. Don't buy $5 coffee at Starbucks = there's $10-$15-maybe $100 per month. Take a bag lunch instead of buying = there's another $100-$200 monthly. Don't buy a new car every couple years = now my truck is paid off = there's $400 per month.

My wife then "magically" identifies absolute must-have necessities that somehow equal precisely the same amount of money I saved. It really is magical how precisely those figures line up. It's almost like she just looks at the bank balance as "must spend" dollars. ...Oh wait, that's exactly what she does. Angry

I'd rather secure some of my own hard-earned money for myself. I commit to financing, which then becomes a monthly bill that we must pay. It subtracts from her "slush" fund and adds to my "get to spend a few of my own dollars on myself" fund.

I think I'll be financing a new bike soon!
mx 219 wrote:
set a budget, this is really what it all comes down to. It's not hard. You brought up good points about not buying $5 coffee, bagging...
set a budget, this is really what it all comes down to. It's not hard. You brought up good points about not buying $5 coffee, bagging your lunch, not buying a new truck every 2-3 years, etc.


My wife and I have set a budget s since we have gotten married (2017) and thankfully we haven't had a bunch "slush fund" purchases, mostly because we limit our slush fund. We have a budget for everything, including hobbies, and I'm pretty happy with where we are.
Your wife clearly has more self control than mine. Congratulations! Wink






1
mx 219
Profile picture for user mx 219
Posts
4040
Joined
8/15/2010
Location
South Central, PA, USA
mx 219 8/14/2020 12:12pm
8/14/2020 12:12pm
Falcon wrote:
Here's how it works for me: I identify efficiencies in my life that I can leverage for more money. Don't buy $5 coffee at Starbucks =...
Here's how it works for me:

I identify efficiencies in my life that I can leverage for more money. Don't buy $5 coffee at Starbucks = there's $10-$15-maybe $100 per month. Take a bag lunch instead of buying = there's another $100-$200 monthly. Don't buy a new car every couple years = now my truck is paid off = there's $400 per month.

My wife then "magically" identifies absolute must-have necessities that somehow equal precisely the same amount of money I saved. It really is magical how precisely those figures line up. It's almost like she just looks at the bank balance as "must spend" dollars. ...Oh wait, that's exactly what she does. Angry

I'd rather secure some of my own hard-earned money for myself. I commit to financing, which then becomes a monthly bill that we must pay. It subtracts from her "slush" fund and adds to my "get to spend a few of my own dollars on myself" fund.

I think I'll be financing a new bike soon!
mx 219 wrote:
set a budget, this is really what it all comes down to. It's not hard. You brought up good points about not buying $5 coffee, bagging...
set a budget, this is really what it all comes down to. It's not hard. You brought up good points about not buying $5 coffee, bagging your lunch, not buying a new truck every 2-3 years, etc.


My wife and I have set a budget s since we have gotten married (2017) and thankfully we haven't had a bunch "slush fund" purchases, mostly because we limit our slush fund. We have a budget for everything, including hobbies, and I'm pretty happy with where we are.
Falcon wrote:
Your wife clearly has more self control than mine. Congratulations! Wink






In some ways she is good, in others not so much. Budgeting helps though, seriously.
2

Post a reply to: Financing a new bike