How much of your income goes towards your 240/motorsports?

[Silverbullet]

I'm just curious to see how much of everyones income goes towards their cars. I used to just dump everything i have into parts i wanted but still making sure I had about a $500-1000 buffer zone in my checking (separate from my savings). Lately I been feeling the need to make a real budget to start saving for a real car, house, ect w/e to get me started in life when im out of college with the least amount of aid from my parents and family. I saw a good budget model for a college student on Forbes but that only allowed 5-10% of the income to go towards things like this so this is just for a tipical student that aren't hobbiests.

So since we are all special ppl with an expensive lifestyle/hobby, i'd like to see some ppl state your age, how much you make and how much of that you put into your whip or just a percentage would do fine as well.

I'm 20 and do drafting work while working towards Mech Engineering Tech BA degree. I think about 30-40% of my money towards my car is ok since i dont have any housing or any other payment expensese. The rest go into short term and long term savings.

[mr_240sx]

well right now im living at home with no expenses other then my 240 and my 600rr. so usually every pay check i leave 200-300 aside in my savings and the rest goes towards the car or the bike!

[BigVinnie]

Here is how my expenses turn out.
$600 rent
$60.00 comcast (girlfriend pays electric and telephone same price as comcast about)
$200 dining out
$150 costco
$75 safeway shopping
$100 clothes shopping
$365 Nissan Frontier truck payment
$120 full coverage insurance for my car and truck
$300 in Gasoline for my car and truck, and sometimes filling up my girlfriends Murano.
25% income too uncle Sam

Now that leaves me with on Average $1700 to spend on my 240sx at the end of the month. Being an old wiser guy and realizing how expensive it is to own a home these days I take the 240sx money and save it in a ING savings account @ 4.79% APY.

[nissantuner22]

id say about 20 bucks a month, and that goes to gas.

College FTW!

[Cloud9]

Id say about 50% of my income

[kevtrinh]

95% haha but i live at home and ride my bike all around college

[slideways2004]

I would say a good 70%

[P4rD0nM3]

Probably around 20% since I'm not done yet paying the loan. I'm close to it. Hehe.

[punxva]

yea id say about 80% goes to the car, the rest is saved.

[ThatGuy]

Enough to where I appreciate my car. Not enough to where I put my family in financial peril. Definitely not enough to do the work I need to do to it.

[CKAMC]

I live at home however I am the same age as you but not in school and i put about 45% of my money towards paying for my sentra loan and gas and insurance. 50% on the basics to keep me alive and 5% on my 240. But things will change in a couple of months I hope

[Id RaThEr DrIfT]

im 19 i live at my parents dont pay any bills in the house
jst pay
$120 cell phone
$650 cc bills witch ill be done in a month =-)
$150 gas
$200 going out/ whatevers
$150 set aside to bank account jst in case i need em during the month
and leaves me with approx $500- $1000 depending on how good that month is ....
but most of the trime i jst pay my lil bills i have and go buy whatever i want or feel i need for my car ...
haha my momo and my g/f bitch and complain that that car is all i care about and that one day im gonna total it and i aint gona have anythin =-( haha so yeah ...


o yeah and my college my parents pay for =-)

[kouki_s14]

8 months ago, 80%
now 0%

i'm done spending money on my car for awhile, I'm happy where i am right now with it. I can't really afford to put muich into my car right now anyways, even if i wanted to my income doesnt allow much.

[TheTimanator]

I have $300 budgeted for car stuff. Most of the time I am WAY over, sometimes it's close and then occasionally I don't spend a dime on it.

I suck at financial stuff.

[DrtyRat]

Enough to where I appreciate my car. Not enough to where I put my family in financial peril. Definitely not enough to do the work I need to do to it.
+1 for this. No slight intended to the younger crowd (I'm 31) but this is pretty much how I determine my "budget" for my car, and I would think that most older(relative term) family guys would think.

[sepulchral]

ive invested $3300 and have a redtop sr'd 240, 4-row fmic, hks gt2535r turbo, exhaust, etc

i'm gunna invest another $1500 and have a 300+hp car on wheels and coilovers

then just buy gas,

[sepulchral]

oh yeah so 10%

[drift freaq]

I don't discuss my finances,income or expenditures in public. Its not the wisest thing to do.IMHO

[Neejay]

I don't discuss my finances,income or expenditures in public. Its not the wisest thing to do.IMHO
Just curious, why not? I don't see how that could harm you (unless you were like a millionaire or something. (not being a smartass, I just really dont understand)

Well, it just depends. So far I haven't been making a lot to spend on my car. So all the mods I have done have been over the course of 2 years. I'd say about 20-30% would go to my car.

Im about to get a $10k loan and do a swap of some sort and use the rest for expenses so I wont have to work much during the spring and I can go back to school full-time (doing a full-time co-op every other semester, so I've been getting slowed down at school). The co-op is in my field, so experiece + good pay = couldn't pass up.

[TheSquidd]

THIS month, which has been a BITCH of a month:

400$ Subaru Transmission
400$ Ref Ticket
200$ school loan
200$ insurance on Suby and Nissan
70$ Cell phone
300~$ gas
200~$ lunch for work
250~$ event fees
50$ oil
240$ tires
160$ CC payments

It's CREDIT CARD TIME!! wooo.

Typically, in a month I have about 200$ to spend on what I WANT for my cars, 300$ to spend on shit that breaks or other unforseen circumstances.

[SiI40sx]

I don't discuss my finances,income or expenditures in public. Its not the wisest thing to do.IMHO

Oh god, then dont post anything!! I hate anal people like that

Right now since I broke my freakin arm I went from a 2.5k monthly income to a $800 monthly income on disability, super weak huh? Im 20 and live with my girlfriend, we both used to work which OWNED cuz combined income is the shit but right now it sucks since im broken, my bills are very basic

$500 rent
$120 phone
$550 car / insurance payments

then the eating / going out and gas varies throughout the month since you never know where we wanna go or how fat we wanna be? haha but in the end of it all I get an estimate chunky $500 to spend every month on my s13

[redsuns3838]

probly almost 50% if you include gas money. time to get another job...

[atom]

10% or less, but I'm out of college. Car is definitely not my main hobby, maybe that's why my car has been a POS for so long...........

[fromxtor]

Enough to where I appreciate my car. Not enough to where I put my family in financial peril. Definitely not enough to do the work I need to do to it.

:werd: I'm in the same boat

[gmarzan]

I used to spend about 50% of my pay check on my car. Now, I only spend 10% of my pay check just to maintain the car, which includes gas. I'm done college so college loan kicked in. Most of my pay now goes to my college loan, cuz i would like to pay if off in less than 10yrs or maybe 5yrs (if i get a raised).

[drift freaq]

Just curious, why not? I don't see how that could harm you (unless you were like a millionaire or something. (not being a smartass, I just really dont understand)


Its personel business in my opinion. As far as I am concerned its very privelaged information, not to be randomly distributed over the internet.

There was a income tax thread awhile back and I thought the same thing about that. You just don't go telling the world how much you pay in taxes, how much you spend on expenses. Its just not wise any seasoned financial professional will advise against it as well.
If its a situation where its an application for a loan or renting that is understood. Though to just let everyone in the world know this kind of stuff about you leaves you very vulnerable.
Yes its the approach most millionaires take but why do you think they take it? It applies to more income levels than you realize. On top of that its just not information people that don't know me, need to know about me as a person.

[skifux21]

im 17 and i spent a bagillion dollars on my car.



















j/p im not 17

[breakindrifts]

Im 18, only thing I spend money on these days is gas and maintanence. And stuff that breaks. Im happy with my car at it's current stage.

[FRpilot]

then the eating / going out and gas varies throughout the month since you never know where we wanna go or how fat we wanna be?

hahaha. fast food joints to real resturants to cook at home

[mmdb]

Was about 80% but that was when I was going to school and living at home. But now that I'm nearing my goals and i'm finsihed up with school it's only a few more monthes or so till I finish my car and head for the track, and of course the regular things that'll break. Once you get that full time salaried position 240 parts seem cheap, it's the new cars that'll grab your eye. Well that's me. :)

[Silverbullet]

Its personel business in my opinion. As far as I am concerned its very privelaged information, not to be randomly distributed over the internet.



I choose my wording carefully baring in mind that some people are like this. But then again, if you did not want to share this information, then why bother posting?

But anyways my intention is to work out a budget for myself and i thought maybe seeing what other people around my age does could give me a better idea of what i need to do. I also started thinking that maybe trying to put the majority of my income to future savings may not be all that effective seeing how i make under 35k a year and i will def make much more after i get out of college, the amount im putting in will be childs play in a few years for me. And we all know the older we get, the less leasure time we have so I'm thinking maybe allowing more leeway for car money it lasts (of course not to the point where im throwing away all of it like soem ppl)

[mr_240sx]

well i dont go out to bars and drink my money away.... the only i go out is when im driving my 240 or my 600rr.... in hte winter months i rarely get out of the house...im always working on my toys. i figure i mind as well enjoy these cause once i get a familly started ill probably have to give these up :(

[Neejay]

Im 18, only thing I spend money on these days is gas and maintanence. And stuff that breaks. Im happy with my car at it's current stage.
See, that's where I want my car to be. I just want it at a decent point. Im not trying to build a monster or have the best car. Just in a comfortable state......to hold me over until I can afford a WRX/STi :D

[drift freaq]

I choose my wording carefully baring in mind that some people are like this. But then again, if you did not want to share this information, then why bother posting?

But anyways my intention is to work out a budget for myself and i thought maybe seeing what other people around my age does could give me a better idea of what i need to do. I also started thinking that maybe trying to put the majority of my income to future savings may not be all that effective seeing how i make under 35k a year and i will def make much more after i get out of college, the amount im putting in will be childs play in a few years for me. And we all know the older we get, the less leasure time we have so I'm thinking maybe allowing more leeway for car money it lasts (of course not to the point where im throwing away all of it like soem ppl)

Why post? For exactly the reasons I stated, people should not be posting that kind of info period. Fact is its unwise to post that sort of thing and I stated it for the benifit of others.Now if you choose to be less wiser its on you.
Seriously, I have never looked to see what other people are spending on there cars to figure out how much I should spend on my car. I make that decision based on what I feel I need to make it how I want it to be. Saving money is always good. If you save up the majority of your income and then spend a chunk at once, or spend it in little bits, for stuff over time, it does not change the fact that you did spend it. Its always wise to keep some around though.

[NoOneIsPerfect]

Was about 50% when I was living up in Seattle w/ my IS300 w/ 2jz-gte swap frm tt supra.

Now.. w/ that left behind in Seattle.... I'm planning to spend about $500 a month. Not a whole lot but considering how I have to pay insurance for three cars (GMC Jimmy, IS300, 240sx), living expense to be enourmously high after moving down here, and lower income (year training... then off to big stuff) I have to keep it low.

This is how much I spend per month

$1200 apartment
$70 Comcast
$200 basic utility
$500 phone bill
$100 for fully insured garage @ seattle
$500~$700 for going out and stuff
$100 my dog
$300 insurance
$300 golf
$1,500 to my parents (paying 'em back for school)
$0 gas (company expense:-D)

and rest goes to my saving so I can buy a house around here (yea... at least over 600K around SJ area).

for god sake... why are stuff in Cali so expensive!!!

[SiI40sx]

Why post? For exactly the reasons I stated, people should not be posting that kind of info period. Fact is its unwise to post that sort of thing and I stated it for the benifit of others.Now if you choose to be less wiser its on you.
Seriously, I have never looked to see what other people are spending on there cars to figure out how much I should spend on my car. I make that decision based on what I feel I need to make it how I want it to be. Saving money is always good. If you save up the majority of your income and then spend a chunk at once, or spend it in little bits, for stuff over time, it does not change the fact that you did spend it. Its always wise to keep some around though.

Please dont come in here and preach, notice how all the people that side with you arent saying anything? Have you ever thought it could be made up? You can respond to the thread starter with percentage figures and no actually income figures, like he said dont bother posting, because just like how you get offended by this thread for some reason I get offended by you posting your opinion about this thread.

[g6civcx]

Silverbullet is a nice guy. He's just looking for some guidance on what others are doing with their money.

If you're not comfortable with it, please do not post.

[JaeTea]

In reality whatever you spend on your car is too much (other than gas and maintenance), even if its $20 a month.

[ZenkitonS14]

ALL of my money this month has and will be going towards my car. Between my first track day, tires, oils, junkyard special wheels, gas, insurance....:blah:

[FinalDrive]

too much!
once my (car parts) credit card is paid off it's getting cut up
from now on, if i don't have the money in my acct to buy it, i don't need it!

[TheSquidd]

Preach on.

:blah:

Thanks dad.

[ManoNegra]

The older I get the less % I spend as thougths about the future, family, home etc become more and more important.
Taking out a loan or maxing out credit cards to build/mod a ride is just plain nuts imho.

[exitspeed]

I don't really spend any on mine at this point. I'm in the process of remodeling my home so I can make a hefty profit in a few years.

I'm not even going to mention how much my bills are...

[trsilvias13]

I just dont spend a % a month nor a set amount per month, I just save. Then if I see something I do like, I will buy it.

Last time I did that I spend $3500 on a shell. O well, so worth it.

[g6civcx]

Safety items, maintenance items, and maybe a few cosmetic items here and there, budget permitting, to keep the neighbors off my back.

No power mods.

[ronmcdon]

30 % car payments
15 % auto insurance
25 % car parts, maint & repairs (end up putting most stuff on the CC)

[KA24DESOneThree]

75% goes to the car for upgrades, repairs, tires, track days, and gas.

[yokotas13]

none, everything i have done to my car comes from selling parts

but trackdays coem from paychecks