How much money I should have left over per month? Planning to make large...

Discussion in 'Off topic' started by Itachi, May 12, 2008.

  1. Itachi Guest

    Itachi
    ...purchase soon.? My take home pay after taxes each month is $1912 and after paying all my bills and etc my left over is like $420 on average. I can push to have around $724 leftover if I stop buying useless merchandise like video games that I play for 1 week and never play again.

    I'm asking because I want to purchase a new car soon since I've been driving a accident happening vehicle for a long time. So, how much % of income I should save up per month?
    If I manage to save around $700 a month would it be ok to get monthly payments of $500 a month on a nice car?

  2. ungirl Guest

    ungirl
    In general, they say you should always save 10% of your income to use for an emergency fund, retirement fund (never too early or late to start), and other financial goals. How nice of a car do you want? If you saved $300 a month for only 4 months, you would have $1200 for a down payment on a car. If you bought a used car for about $5000, you would have a very reasonable and affordable monthly car payment that you could quickly pay off.
  3. chance199 Guest

    chance199
    well personally i think you should cut back on video games, just play the ones you have and try beat it on the hardest settings

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