Argument about money between me and Roxy, need some input! - FMVperformance.com : The site for all your Ford Mazda and Volvo needs
View Poll Results: How should I invest $3000, in my car or in a savings account?
Car 12 29.27%
Savings Account 29 70.73%
Voters: 41. You may not vote on this poll

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post #1 of 75 (permalink) Old 08-16-2005, 10:40 AM Thread Starter
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Argument about money between me and Roxy, need some input!

Ok so Roxane and I got into a little disagreement about me spending my money. I have 0 expenses and I won't have many for the next 2-4 years really so I have been spending all my money on my car so I can get a little more fun out of it.

(10:17:06) FrenchFlirt Roxy: omg
(10:17:09) FrenchFlirt Roxy: you're hopeless
(10:17:16) Hexxedit: why do i need to save money
(10:17:18) Hexxedit: i dont get it
(10:17:41) FrenchFlirt Roxy: so that when you decide to move out you have some cash ?
(10:17:51) Hexxedit: im not planning on moving out for a while
(10:17:55) FrenchFlirt Roxy: same here
(10:17:58) Hexxedit: im gonna be in school for the next 4 years
(10:17:59) FrenchFlirt Roxy: not for the next 4 years
(10:18:06) FrenchFlirt Roxy: see...
(10:18:10) FrenchFlirt Roxy: you start saving now
(10:18:14) FrenchFlirt Roxy: and then in 4 years
(10:18:18) FrenchFlirt Roxy: you'll have alll this money
(10:18:21) FrenchFlirt Roxy: saved up
(10:18:30) Hexxedit: in 4 years i'll have a job that pays me like 60-80k a year
(10:18:31) FrenchFlirt Roxy: that you could do whatever you want with
(10:18:40) FrenchFlirt Roxy: you know what
(10:18:42) FrenchFlirt Roxy: nevermind
(10:18:44) Hexxedit: hahaha
(10:18:47) FrenchFlirt Roxy: go spend all your money
(10:19:09) FrenchFlirt Roxy: and then in 4 years when i have a nice place and you're still with mommy and daddy, imma say i told you so
(10:19:45) Hexxedit: its really not smart for me to save my money and i can explain why
(10:20:09) Hexxedit: the stock market is too volatile to play that because I'll end up losing a lot of money, besides I don't have enough starting capital to invest
(10:20:20) Hexxedit: savings accounts pay too low interest for me to use that
(10:21:14) Hexxedit: if I put my money in to corporate bonds or treasury bonds I've pretty much given away useable money for a meager return since my investing capital is again too low to begin with
(10:21:45) Hexxedit: whereas if I put my money in my car I'm getting a split return on utility as well as the value of the car
(10:21:56) FrenchFlirt Roxy: hahah
(10:21:57) FrenchFlirt Roxy: omg
(10:22:04) FrenchFlirt Roxy: i didnt say dont spend any money on your car
(10:22:05) FrenchFlirt Roxy: lol
(10:22:08) FrenchFlirt Roxy: nevermind babe
(10:22:17) FrenchFlirt Roxy: what your major again?
(10:23:48) Hexxedit: im a computer science and business dual major with a minor in economics
(10:23:56) FrenchFlirt Roxy: kk
(10:24:05) FrenchFlirt Roxy: ya....MINOR in the business
(10:24:09) FrenchFlirt Roxy: stuff
(10:24:23) FrenchFlirt Roxy: whereas im the one doing all the business with computer information systems
(10:24:25) FrenchFlirt Roxy: anyways...
(10:24:31) FrenchFlirt Roxy: forget about this, kk?
(10:24:33) Hexxedit: Im majoring in business
(10:25:14) Hexxedit: hahaha it's fine we dont have to argue about it
(10:25:17) FrenchFlirt Roxy: lol
(10:25:20) FrenchFlirt Roxy: we're not arguing
(10:25:34) FrenchFlirt Roxy: we just obviously dont see things the same way when it comes to money
(10:25:59) Hexxedit: i just think I'll get a greater return on my investment by putting money in my car than saving it in a bank thats all
(10:26:37) FrenchFlirt Roxy: ya, but 4 years down the road
(10:26:42) FrenchFlirt Roxy: if you ever need some money
(10:26:49) FrenchFlirt Roxy: and you dont have any saved up
(10:26:52) FrenchFlirt Roxy: what are you gonna do?
(10:26:54) FrenchFlirt Roxy: sell ur car?
(10:26:59) Hexxedit: well think about it this way
(10:27:10) Hexxedit: lets say I have 3000 dollars
(10:27:16) Hexxedit: i can either put it in my car or put it in the bank
(10:27:34) Hexxedit: if i put it in the bank and I get maybe 1.3 percent compounding interest
(10:28:54) Hexxedit: i'll have made $159.07 over the 4 years
(10:29:12) Hexxedit: however if I take those 3000 dollars and put it all in my car
(10:29:29) Hexxedit: this is going on a large assumption that the value of my car doesnt depreciate the 3000 dollars
(10:30:28) Hexxedit: but if after 4 years I can sell my car for whatever it stock value is, plus 3000 dollars, plus lets say some higher interest rate like maybe 1.5%
(10:30:41) Hexxedit: i'll have made more money by investing in my car than saving in the bank
(10:30:56) FrenchFlirt Roxy: whatever :-P
(10:31:00) FrenchFlirt Roxy: lets just see in 4 years
(10:31:22) Hexxedit: haha fair enough

Anyways feel free to chime if you think I am being stupid and should be saving my money. I realize the value of the car will probably depreciate the money I put into it; however, this argument doesn't take into account the added utility I get by putting my money in my car which I value highly.

Titanium Grey HB 5 spd, ABS, Moonroof, Leather seats, Exel RS-GT 17x7.0 Hyperblack 225/45/17 Azenis RT-615, Racing Beat Front/Rear Sway + Endlinks, Mazdaspeed MSP3 Coilovers, 88 AWR Mount, Apexcone 6000k HID, I deturboed my car and removed my built engine. I'm now stock powertrain + an Injen.
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post #2 of 75 (permalink) Old 08-16-2005, 11:26 AM
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Re: Argument about money between me and Roxy, need some input!

save it for a rainy day. or at least save a majority of it.
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post #3 of 75 (permalink) Old 08-16-2005, 11:37 AM
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Re: Argument about money between me and Roxy, need some input!

Jason its up to you man. I say if you really wanna spend then spend it. Its your money. You only live once. Do what you want to do. :P


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post #4 of 75 (permalink) Old 08-16-2005, 11:37 AM
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Re: Argument about money between me and Roxy, need some input!

Save it you will need it sometime. A car is transportation. If you got extra then cool, but living on your own is way more important


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post #5 of 75 (permalink) Old 08-16-2005, 11:46 AM Thread Starter
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Re: Argument about money between me and Roxy, need some input!

You all are missing the point of this argument. I make enough money to put it in my car and have enough left over to save. This is about how I should INVEST 3000 dollars so on that note I'm changing the poll question to that so it's more clear.

Titanium Grey HB 5 spd, ABS, Moonroof, Leather seats, Exel RS-GT 17x7.0 Hyperblack 225/45/17 Azenis RT-615, Racing Beat Front/Rear Sway + Endlinks, Mazdaspeed MSP3 Coilovers, 88 AWR Mount, Apexcone 6000k HID, I deturboed my car and removed my built engine. I'm now stock powertrain + an Injen.
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post #6 of 75 (permalink) Old 08-16-2005, 11:47 AM
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Re: Argument about money between me and Roxy, need some input!

You know what would be better? Spend $1,500 and keep the other half in the bank. That way you can't complain one way or the other.


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post #7 of 75 (permalink) Old 08-16-2005, 11:49 AM
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Re: Argument about money between me and Roxy, need some input!

well, if you dont have any more money coming in for a while then save it....


if you really want to buy something for the car then do it, but dont spend all of the money on the car... save some money, now a days you never know what kind of stuff will happen where you will need some cash fast.

dont use all that money on the car


rich people are people that save! hell i have my own account that i dont even touch, and i dont even look to see how much is in there....thats my trading account ( forex) all the money i make from that i dont touch.


you always want to have a backup. be smart!!! and it doesnt matter how much you make now, you never know how long it can last... if it doesnt woulnd you be happy you saved.


plus with all the stuff going on, it better to have a good chunk saved...

so dont use it all but save as much as you can


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post #8 of 75 (permalink) Old 08-16-2005, 11:50 AM
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Re: Argument about money between me and Roxy, need some input!


all i was trying to say is that go ahead and spend some money on your car but take some money and SAVE it!! dont just spend everything and never put any money aside...

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post #9 of 75 (permalink) Old 08-16-2005, 12:16 PM
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Re: Argument about money between me and Roxy, need some input!

kk, like dubs said, you wanna have some stashed away... let me tell you a lil story...

a few months ago, around the beg of May i believe, you might remember about my stupidity of not knowing that a neutral drop can seriously hurt the car...anyways, so car get towed to the dealer, dealer tells my parents they need to replace all 4 engine mounts cuz the engine is no longer attached to them, they need to replace the entire drive shaft cuz it's completely fucked and that they need to buy two new tires because the front two of the car currently have no tread whatsoever and they are not safe, thus the dealer cannot return the car until two of the tires have been replaced.... anyways, so my parents pay like $4k for the engine mounts and drive shaft and then $606 for two tires. so... although im a spoiled brat and get whatever i want, my parents wanted to just give me my car back but they decided to make me pay for the tires (although they felt bad cuz they knew i dont make too much money). anyways, so i come home a week later from school and see my car sitting on the driveway and im not allowed to get her back until i pay them $606 for the two new tires. so....i was currently saving about 15% of every paycheck and putting it into my savings account, so i went to the bank and took out $420 that i had saved up. then my parents agreed to give me back the car and pay then the rest asap.

if i didnt have that money saved up, i would of gone about 2 months without my car...maybe more because without my car, how can i go to work that's 26mi away?



get my point?

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post #10 of 75 (permalink) Old 08-16-2005, 12:38 PM
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Re: Argument about money between me and Roxy, need some input!

Putting money into a car shouldn't be seen as investment. We all spend money (and time, which also has value) on our cars, but to look at it as an investment is kidding yourself. You would be much better to leave it in the bank with no interest than to spend it on your car... however, that's unrealistic (I like my cars to look good, too).
soapbox:
When i was a college freshman (waaaaay back in 1989), my grandfather gave me $5000 to do whatever I wanted to do with. I put the money in oil commodities, and continued driving my pos 1979 VW Rabbit. In two years I pulled out of the market with 34k. I thought about spending it on a car, but decided to keep investing. I bought one of the first 'touchless' car washes in my area (the kind everybody hates on this board). Even back in 1992 it was bringing in 1k a week profit. I've since bought two more and invested in some higher margin (rental units) real estate. This income allowed me to retire two years ago at the age of 32. Now I just play music all over the country (I'm a jazz musician). I guess my point is that you can do more with your money than you think. The way that oil has risen recently, one could turn 3k into 30k in six months.

Now there's nothing wrong with spending money on your car, but remember it's a temporary tool, and in three years (or less) you'll likely be driving a different car... So you can work for your money, or have your money work for you.

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