bsmack

I am an 18 year old teenager, just about to graduate high school. Like many teenagers, I dream one day to own an evo. Right now I drive a 2003 Toyota matrix, which I can definately not complain about. I just want something....faster, and better looking too.

Right now, my spending habbits suck. I'm actually quite proud of myself right now, because I've saved a little more than $1000. I work at best buy, and make approximately $600 a month. I expect at least $7000 for my matrix when I trade it in, so that leaves me at $8000. I know that this is not a big enough down payment for how much I make at this moment, so I obviously do not plan to buy now. My goal for getting this car is after first semester in college. By this time, I'm hoping I will have at least $15000 for a down payment. I really want to save every penny I earn, and so far, I've basically just been depositing my money into the bank and not touching my debit card unless I need to(not enough money for gas, XM radio subscription, fileplanet subscription).

What I need help with is saving. How can I cut down expenses, and the urge to by stupid stuff I don't really need? I've never saved for anything huge in my life(no more than $600). So please, any tips you might have for me saving for my dream would be really helpful. Reading these forums everyday already helps me alot, because I just want the car more and more everyday.

David21186

im on the same boat, first get a better job. In the summer get a full time job so u can save alot more.

David21186

Dont forget you have to give up little things to get something bigger and better in the end. Thats how i think about it. Suffer for a while and it'll pay off in the end.

bsmack

This summer I plan on making $800 a week if I stay part time. I will attempt to go full time at best buy during the summer, but I don't think they'll like the idea of me going back to part time after 2 months. I really REALLY like my job alot, so I don't think I will be quitting and finding another job.

lancerEVO272

^^^ agree im in the same boat i just want my own OZ lancer im lucky my dad has one that i can drive so yeah but im 16 and im about to be a jr. so if u want to help me in any way even it is just giving me some info, about what i need to start doing please tell me

SVT

I bet 90% of the guys here paid less than a grand on the down payment. Just buy the EVO now with a small down payment.

dryad001

iTrader: (27)

And then worry about a 550-600 payment every month along with insurance. If thats what makes you happy, well then I cant nor will I bash ya.

Never know about the future though. I like my payments at 250.

THKFAST

Like any goal, saving money for a large purchase requires constant MONITORING. Get a notebook or legal pad & actually write out a statement of your financial goal and where you're at right now with your savings. Extrapolate your savings out by writing the date of each payday down the left column of the page and what your balance should be on that date. You have to understand it will take time to reach your goal. Like exercising, you will thrive on the results as your $$$ start to grow. Begin to visualize the actual process of taking possession of your new Evo: price out insurance, interest rates, the personal lic plate you want,etc... figure all that into your plan as well. When I was 18 I drove a total POS, oil dripping wreck, so you're already ahead of me. Good luck, don't crash it & don't get any tickets.

WestSideBilly

iTrader: (1)

Two things I did to help me save some money was:

1) Use a credit card for everything. Then pay it off at the end of the month.
2) Track all purchases in Quicken/M$Money, and use the category fields religiously.

#1 will help with your credit rating (might not hurt to find out what yours is, by the way). A year of solid credit will help you substantially when it comes time to get the loan. It will also make it easier to track your expenditures (#2). #2 will help you identify places you're pissing a lot of money away; I never really thought about it when I paid cash, but once I tracked things and noticed how much I was spending on dining out (for example) it's easier to rectify the excessive spending.

-=RoscoES=-

Also, what I did to get my car payment down was check into a credit union. I could get into one through my mom's company. They gave me a great APR on the Car loan and it took my car payment down significantly. They offer extremely low rates, so you may want to check into that down the road.

-=RoscoES=-

bsmack

If I made a grand or more a month, then I would definately go for it now. However, if I got it now, my monthly payments would be too hard to make. Also, credit isn't a huge problem, as I understand if my parents co-sign for it, I will get a low interest rate anyways(my parents have extremely good credit). The eating out thing isn't something I really thought about, I will definately try and cut back on that.

Tanner65

Explain to your close friends what you're trying to do. Then, ask them if they don't mind driving most places. This will help out on saving gas money. Then, when you do go places with them (dinner, and such) eat dinner before you go, or go through a grocery store before hand and get the cheap dinner from there. Don't go to movies, $5.50 (here) really adds up quick.

I'm not sure what you drive, but if it's a Lancer make sure that when you do drive, to keep it below the 3k range. This'll keep your gas mileage down. If anything breaks on the car, Fix it...Immediately. This'll help you to not be paying more in the future.

Find something you enjoy doing at home that's cheap. During the summer your bosses (at least mine will) will most likely let you work more hours since your availability will be much longer. You could also get another job. You might end up working 30 hours a week between both and not having any fun, but like the others have said, you'll be happier in the long run.

The credit card idea is wonderful. Just make sure you keep a bucket and a piece of paper ready for each transaction. At the end of the month, make sure you pay ALL of it off.

I hope I've helped because I'm in the same boat.

pzthao1

I say the best way to do it is get a full time job... and do otherstuff that dont involve cash... right now... I work full time and Go to school. I make enough to afford an Evo if i was single... I dont have one is because Im married and have a kid. so how much I pay a month for everything is more than the monthly cost of an Evo with insurance.