[Camar05]

Here is a little about me. I'm currently 21, married, and living on my own.

Long story short, by working my ass off, I was able to acquire a job that is in the engineering field with no education whatsoever making great money for someone my age

I just bought my 16 2LT fully loaded in February. I cojld have easily stretched my budget and bought a 2SS but for my 25 mile commute to work and Insurance reasons, I went with the 2LT and im plenty happy with it. I pay 300 a month for me and my wife with 2 cars, both have clean records.

Sounds like i am much alike you in wanted to be stable further down the road. Like these guys have said, start investing your money now, if you are new to finances, start researching. There are plenty of smart, rich folks sharing their knowledge such as Dave Ramsey. He recommends creating a tight budget with $1000 emergency fund, then once you are debt free, create an account with 3-6 months of expenses and then start investing your money. Look at a table floating around about someone who started investing at the age 25 vs I believe 35, its outrageous how much investing early makes.

Look into a small limit ($500) credit card like someone said and pay it off every month. I don't recommend you giving anyone access to your bank account for automatic withdraws. If they pull money from your account, it will be a PITA to get it back from them. Not worth it in my opinion

Hope this helps coming from someone like you, I'm at work now, will add more detail when im off and sorry for any typos

[Seahawkfrost]

Originally Posted by Eata34

That is definetly something that I plan to do, payday wise. I'm not the type to spend money just because I can. What exactly is a gas card though?

For example you can get a credit card at Chevron for purchasing gas. It's basically a credit card but you just use it for purchasing gas.

[SpookShow'84]

Why would you need it back? You signed a contract to pay the credit card bill every month. Preserving a good credit rating on a low limit card is more important than worrying about misconduct that will almost never happen. They banking industry is heavily regulated and the are consumer protections for this type of problem should it ever occur. It's a tool that is used at all levels of business and personal finance. Does Boeing go to the bank for every single transaction? No. Auto withdraw and deposit is safe.

[warriordave927]

You also have to consider the job market in your area,dont assume that youll find a job as soon as you leave school,look for internships during that will build relationships with the companies you might apply to

[Kibobky1]

Great advice on getting positive credit started. Line work is a great career I assume your schooling is just an intro into the field and will be followed up by hopefully an apprenticeship of 2-4 years. Don't rush it. It is a dangerous job. I did not like climbing so I went into the underground and I have no complaints. It has provided well for me and my family. The contractor career is good for money now but long term try to get on with a major utility. Good luck to you. Enjoy your camaro as I'm sure you will get it. But most of all. Be safe.

[EXSSIVE]

Originally Posted by SpookShow'84

Start the family in your 30's. 20's is for fun. Family = fun is over. No sleep, screaming kids, nagging wife, broke regardless of income etc. etc.

Im 28, have been married for almost 6 years with 3 kids (4,2 and 2mo's), 2 dogs and a house. The fun is far from over.

Who needs sleep when you're enjoying life?

The kids certainly do scream when the dual mode exhaust opens up, and laugh, and giggle, and grin from ear to ear. It's a blast!

The wife sometimes nags me... to go a little faster, or get the motorcycle put back together, or to spend some more alone time with her

As far as broke regardless of income, not quite. It's all in what you make of it. If you have the mindset not to spend every dime that comes in, you'll be fine. A family isn't that expensive, heck, I probably spend more on my cars and my kids are never left in need.


Work ethic and a focus on finances will take you a long way in life.

[KirkH]

I have a child your age. Forget about a 2SS. That would be completely irresponsible in many ways. Insurance, payment, engine power, fuel cost, etc.

IF you have a job that your are going to have at least 5 years, get a 1LT 4 cyl turbo . $21,000. You MIGHT be able to afford that.

Welcome to the real world kid.

[JeffPA2ss]

Originally Posted by Eata34

Hey guys, I am currently 18, about to be 19 in November. I am trying to find what route to take to approach getting my new camaro. Now I want to tell you guys, I am the type of person who really wants to exceed in life. I want to live a very great life, financially included.

Ok, so I just got out of high school, and I start college at Western Georgia College in January. I am going for a Lineman Career. The thing is, I dont know much about being a lineman, but I guess that's what school is for. I'll be living about 6 miles from the school. I'll be living in Atlanta, Georgia of course.

What i want to know is what is the best approach to getting a new Camaro in the next 5 years? I know for sure that I'm getting a 2SS for sure. I want the V8 and I want it fully loaded. I will also be getting NPP and MRC, and whatever else goodies that come from the factory. School is only 3 months long for Western Georgia, so after school is over, and I get the a lineman job, what should I do to approach getting my new Camaro? I don't know exactly how to put what I'm trying to say into words, but I'm doing the best that I can, so bare with me. I want to save. I want to save big. But I also want my Camaro before I'm 30. I want it when I'm still in my 20s. I will be living with my dad, so I won't have to worry about any bills except for my phone, food, my current cheap car to get me to and from work and school. I know for sure that I will not be getting my Camaro in the next year or 2 because I know it would be dumb of me to get a new Camaro right off the bat, especially if I want to save towards my life goals.

So to sum it all up, how do i approach getting my Camaro? I will be getting the current year model. So whatever the newest Camaro is, say if it's 2019, I'll be getting a 2019. How do i approach all of this? Financially wise. Ill be making around 45k my first year, but after hopefully nearing a Journeyman, I will be making close to 96k. How will that camaro effect me financially? Should I wait a few years, like 3 or 4, after saving money instead of jumping straight in? Would i still be able to save after I buy my Camaro? I have a clean driving record, and hopefully it stays that way. What insurance should I get?

I'm sorry it's alot, but I'm really trying to figure all this out. Thank you guys

It's a nice dream as an 18 year old but, the fact of the matter is, you are only 18 years old. When I was 18, I wanted a Ferrari, to fly jets for the Navy, and to marry my high school girlfriend. 28 years later, I drive a Ram as my DD and have a 2SS as a toy (which I just was able to justify this year), I am a transportation engineer and I am married to the love of my life who I didn't even meet until I was 27. (Side note - my Uncle has a Ferrari 308 - what a POS).

Point is, at 18, your priorities will change A LOT in the next several years. The advice many have given you on this forum (save, establish credit, etc.) is great advice and will help you, no matter where you are five years from now. But the odds of you still wanting a Camaro 2SS are pretty slim...

[Eata34]

Originally Posted by SpookShow'84

You've got bigger fish to fry first.

Tips.

Only get one credit card, with a low limit. Keep the balance under 50% and always pay it on time (preferably with an automatic withdraw so you never forget). It's a good way to boost your credit score without owning a home.

Set back $2K a year for some sort of a compound interest retirement account (Roth IRA etc...), for five years, STARTING NOW!!!!! This initial $10K with about 8% growth ends up with you a millionaire at retirement.

Find a job that pays what you need to not have to stretch to afford the car. Payment should be about 25% of your take home insurance included. You don't have to be a lineman ( i know guys that hate it ). Even if it's just for a short term, look at jobs that don't require $40k in student loans to make money fast. Examples would be CAT industrial equipment mechanic, repair technician for hospital electronics, hell even trash truck drivers make pretty decent money without much time in training or money in education. It's tough to have the first part of your life slaving away at education, then the rest slaving to pay student loans. Doctors make good money, but they're a working like a mule dealing with the job and the tuition!

Once you get this type of stuff knocked out then worry about the car. I've had buddy's that did the cool, fast car out of high school and it didn't improve their lives much and they were a slave to the car payment and it eff's up your options latter in life if you live paycheck to paycheck all the way through you 20's.

Get something decent fast and cheap, NOT NEW, and go from there for a fun car for now. In the end it doesn't matter a whole lot if you're not the fastest on the street b/c there's always going to be someone faster ( usually maxing out credit cards and living in a shoebox to be that fast ), and you'll still have options on being fast enough with mods to make you appreciate the project type car.

I didn't know Lineman took alot of money for student loans? If so, please inform me on what you know about Lineman careers. I really dont want to go into a job that I night not like. And the schooling is only 3 months, and about 2k for everything. Tuitions, books, and fees. Am I missing something? Is there more schooling to be done? My college professor must have not told me about this. I'm a little confused at this point on what I actually need to do in life

[Eata34]

Originally Posted by KirkH

I have a child your age. Forget about a 2SS. That would be completely irresponsible in many ways. Insurance, payment, engine power, fuel cost, etc.

IF you have a job that your are going to have at least 5 years, get a 1LT 4 cyl turbo . $21,000. You MIGHT be able to afford that.

Welcome to the real world kid.

The real world sucks starting off. This I know. I don't plan on getting the 2SS within the next 2 or 3-5 years. But I will make it in life. I WILL have my 2SS and my ZL1. I work hard for what I want. I'm just not sure of what exactly needs to be done to get where I want to be. I did think about the fuel cost and insurance. It would obviously be a bad idea for me atm because I'm young and that's money down the drain. However, I am a responsible young guy. My grandpa bought me a 2011 camaro 2LT RS for graduation this year. I pay nothing for it. Not even gas. My grandpa gave me a card with about 3k in gas. And it can only be used for gas. So it comes in handy when saving money. But again, engine power is not a problem. Everyone has preferences. And everyone is different. But thanks for thanks the advice. Hopefully I get somewhere soon

[Eata34]

Originally Posted by JeffPA2ss

It's a nice dream as an 18 year old but, the fact of the matter is, you are only 18 years old. When I was 18, I wanted a Ferrari, to fly jets for the Navy, and to marry my high school girlfriend. 28 years later, I drive a Ram as my DD and have a 2SS as a toy (which I just was able to justify this year), I am a transportation engineer and I am married to the love of my life who I didn't even meet until I was 27. (Side note - my Uncle has a Ferrari 308 - what a POS).

Point is, at 18, your priorities will change A LOT in the next several years. The advice many have given you on this forum (save, establish credit, etc.) is great advice and will help you, no matter where you are five years from now. But the odds of you still wanting a Camaro 2SS are pretty slim...

Great advice. But once a Camaro lover, always a Camaro lover. Boy do i love my V8. I have always been a Camaro fanatic since I was little. Everyone has a dream car. Mine is the Camaro.

[Kibobky1]

Not know about student loans. I do know it takes years to be a lineman. If you're talking about a electrical lineman. You don't learn it in college. You learn it through an apprenticeship usually sponsored or provided by your employer it is hard work. Just like life

[JeffPA2ss]

Originally Posted by Eata34

Great advice. But once a Camaro lover, always a Camaro lover. Boy do i love my V8. I have always been a Camaro fanatic since I was little. Everyone has a dream car. Mine is the Camaro.

Sorry...gotta disagree. When I was 18, I had no desire to drive a Camaro...

[Camar05]

Originally Posted by SpookShow'84

Start the family in your 30's. 20's is for fun. Family = fun is over. No sleep, screaming kids, nagging wife, broke regardless of income etc. etc.

I agree on the no kids part. If you look up statistics, wealthy people with kids are in their early to mid 30's

I have a 780 Transunion Credit score and only have 1 credit card, which I got when I was 19 and it started at a $500 Balance but is now $5400. The reason they do that is because they want you to spend more so they make money off interest.
I pay it off every month and use it only for gas and food. While its negligent, I also get free cash from them since it doesn't accrue interest if you pay it off every month and usually get around $50 a month in "free money".

My advice to you is put money away first and make sure you are 150% comfortable with making a 40k purchase.