Haven’t needed a car until now and trying to figure out a reasonable monthly budget for a car for the loan payment in addition to car insurance, gas, etc. I make 120k pre tax - does $500 per month on car seem reasonable?

like
Posting as :
works at
You are currently posting as works at

I think he’s solely talking about a $500 car note

like

Pay cash buy a used toyota or something. In 2 years you will look back on taking on this debt with dread.

like

Yes definitely. Assuming $250 payment and $250 for insurance and gas, give or take.

This depends very much on the car and whether you have to pay to park it. If you're buying a new car, $250 per month for a car loan seems low but if it's a lease or a used car or you're planning on putting a large amount upfront, it's definitely doable.

I would look at a few things to answer this question. Your current monthly spending and what things are changing to find the car...meaning, did you used to pay for public transport or car share that you now will not be? Is your rent or other expenses changing and that's what will "fund" the money for the car? Or does all of the car budget coming from what you're saving today? If nothing else is changing and this reduces the amount you're saving each month, I would keep expenses on the car as low as possible while still providing the reliability/utility you need. If you have other budget reductions that are essentially funding this purchase, that helps inform your budget for the car (all in of course).

As a more practical example of what you can get for a specific amount though, I have approx $350 car payment + $150 a month for insurance/gas for used Xterra, on a two year loan. Places will give you a 5 yr, but I personally think that's impractical for a depreciating expense like a vehicle.

what other debt do you have? If none, go for it and treat yourself to that car that’s $500/month car payment.

Related Posts

Anyone from NYC Health & Hospitals? How are the benefits?

like

Am wrking TCS. For am medical emergency I have applied for salary advance today and it is approved.Buy amount is not credited. Ould any one let me know when will I get that money. I need that money for an medical emergency.

Is that possible will I get today?

Tata Consultancy

like

How much do you take home after tax and maxing pre tax 401k while making 144k? Not sure if I'm doing something wrong with my withholding. I'm married filing jointly withholding at a single rate, 1 federal and 1 state. DC location. I'm only taking home $6k a month.

like

Hi everyone! I'm looking for a role in manufacturing or chemical industry in Ontario, Canada in process engineering. I have one year of work experience in a manufacturing plant and I want to switch job into a better industry. I feel like my health is being compromised here. I would appreciate any leads or referrals. Thankyou

like

It looks like Y&R healthcare is looking to expand... what’s it like? The accounts, culture, management, etc.

like

Is PLN 22,000 per month salary is good to survive and save some money with family in Poland?

like

Hi Ladies, I’m 31 yrs old and my husband is 33 yrs old , trying to conceive from past 6-8 months, but no luck so reached out to fertility doctor, he did much of tests: CBP(complete blood picture),ESR, CREATININE, RBS,FSH,LH,SERUM PROLACTIN,THYROID PROFILE(T3,T4,TSH),TESTOSTERONE,Rubella-igG,AMH,HBSAg,HIV1&2,CUE(complete urine exam),and everything came normal. He suggested extra test HSG to be done on 3rd days of my period,and sperm analysis for my husband. Do insurance BCBS covers sono HSG?

like

How supportive are your companies when it comes to taking PTO for mental health days?

likesmart

Advice please. Currently work as a nurse at a PCP office, amazing insurance M-F, but manager is TOXIC. Constantly makes fun of employees to other employees calls people idiots (her boss does not care). I have an offer from long term care 7p7a and rotating weekends and holidays. Doesn’t bother me. Does bother my husband. Thoughts?

like

How’s life at Digitas Health NY?

like

I went from 2 Federal Deductions in my paycheck a month ago to 0 Federal Deductions now and I’m not sure why. My take home salary went up... how is this all of the sudden the case?! Will I have to pay more in taxes later as a result of this change?

like

Hello all, i have been working at an insurance firm from 3 years as roi technician thats release of information . Looking to explore more career options. I am not intrested in customer facing roles and roles which need to be on phone all day . Does anyone have info on those type of roles , or more career options please . Thanks in advance .

like

Soooo…. It’s been a while since I’ve been on here. I recently pass my CNPR exam, looking to start to work as a pharmaceutical sales rep ASAP! Anything/ company I should steer clear from? Anybody worked at Mallincrofdt, Syneos Health, or Ashfeild? Positive and negative reviews of those companies?

like

Anyone know how to get into kpmg as an associate healthcare consultant? Don’t really see any open positions right now.

like

Clinician looking for a new role. Experience in SaaS technology, telehealth, sales, client success, implementation, and consulting. Looking for a remote position with little to no travel. Idealy something in the health tech space.

like

Anyone in here work for Alameda Health System on the IT side?

like
like

Hi, I work under contract for a foreign company as an APM. I have an import export licence and send the monthly invoice to my HR. My benefits include the following in-hand allowances: food, internet, sports, vacation, training and hardware. Plus a yearly bonus.
Can someone help me out as this is new to me, how can I save my taxes? (I have to file ITR 4)

I am an Employee Engagement and Relations Manager for a healthcare clinic, and I’m looking for ideas to boost morale/employee satisfaction on a budget. Does anyone have any ideas? Thanks!

like

What firms provide insurance coverage for egg freezing even if you don't have fertility issues?

like

More Posts

Wonder what the new name will be for Facebook. Might not be able to call the FAANG anymore, might end up being BAANG....

funnylike

Accenture Vs Deloitte Vs EY for SAP Consulting. I worked at Accenture in India long time back and now working at a boutique SAP Consulting firm as a SAP Technical Architect / Manager. Accenture definitely has a strong SAP presence in NA. How different is Deloitte and EY compared to Accenture?

like

Hey everyone, Looking for a Sr Software developement positions? Amazon (Chennai & Bangalore) is on a hiring spree.

Want an Amazon referral? DM me the job ID, your current location, and years of experience. Only jobs you haven't applied for yet. If you got a referral in the last 6months, that referral is still active, so do not DM.

like

$210/hr on 1099 in NE? 12 YOE... Take or stay?

like

Barclays 11 lpa
Amdocs 13 lpa
Yoe 3 years
Which to chose?

like

Any healthcare executives here?

like

Larsen & Toubro Infotech How is the medical insurance premium deducted at Larsen & Toubro Infotech aka LTIMindtree?
In monthly installments or at once ?

What are the medical insurance benefits ? How much is the coverage and who are covered?

like

Simplus 🐟 , can one apply with no CPQ experience? Do you have non CPQ projects?

Our system is really lacking and we do a lot of work outside of it to track data. Currently I’m using Excel to track data from multiple resources, however, it’s so manual and prone to error. Any suggestions to keep the data clean when I have to pull info from multiple places? I’m constantly auditing and we won’t even look at getting a new system until next year :(

Thoughts on lip color in the office? Lip stick, lip liner etc.

like

PWC Audit A3 to Senior Consultant, Risk Advisory at a very small firm? Thoughts

like

Bought my 911 last year for ~$120k. Only put 4,000 miles on it and seeing online values in the ~$130k range. Am I crazy for considering selling it? She's in perfect condition (even though she's my daily)

like

What’s your personal vision for 2050?

likefunny

I think the GSB essay is by far the most difficult one and probably the most rewarding one if you crack it... What publicly available sources have you used for inspiration ? I know it's highly personal but I'm just looking for inspiration that will help me trigger the rest :) Good luck everyone!!!

like

Hi fishes! Nagarro declined the counter offer letter ₹33,00,000 + shares worth 4.5LPA

I've 6+ yrs experience (mobile dev.)

Nagarro offered 18LPA. Initially I told HR for 22 but he mentioned 18 into their internal portal to their senior so after clearing all interview rounds I got 18.

When I asked the HR, he told me to accept it for now and bring the counter offer letter so they can revise offer letter.

But now they declined. Weird.

like

I am looking to hire a mid level associate for my team. How can I conduct an effective interview to find someone who be committed to our work? Interviews are so superficial.

like

Anybody use iReady Reading program

like

Waxing is quite expensive..how do you guys budget those costs etc? Any deals that you guys find and use?

like

Incoming Noogler here - with relocation paused, do we still select our relocation plans before we start? Any advice on what to select (cash out vs. specific items) given this uncertainty on timeframe? Thank you!

likehelpful

My firm mostly engages in 12-week projects and then cycles through to the next one. How do we break this trend so we’re not chasing new clients every 12 weeks to keep the sold-project pipeline full?

Additional Posts in FIRE Financial Independence Retire Early

Any software like Mint that can show daily stacked bar chart of all expenses and deposits over time? Rather than creating it manually from bank statements

like

Sup guys! Asked before, but curious to hear anything new: What are some side hustles you’ve been doing to get some extra income? Curious to hear some ideas for my own brainstorming. I used to flip couches off FB marketplace as a side hustle

like

Friendly reminder: IRA contribution limit increased from $5500 to $6000 in 2019. Make sure to update those automatic contribution amounts!

likesmart

Anyone have suggestions on how to protect minors assets? They have a couple of years left before they turn 18 and would like to help them put their inherited money to good use example: low risk investments, steady cash flow investment/rental property, etc. Anything that may also be used for their education in the future. And possibly tax strategies to decrease tax liability from when they start getting income?

like

newbie here for investing. where should i be most focused.
- US Stocks
- Foreign Developed stocks
- Emerging market stocks
- Dividend growth stocks
- Municipal bonds
- Cash

like

Have 3 401k and 1 ira account. Now have to consolidate all of them in vanguard. Any recommendations on how to move them
Looking for options to take advantage of rollover.

like

I hit my FIRE number today at 50yo!!!! Had to tell somebody.

likeuplifting

Can someone explain the Roth conversion ladder to me like I am idiot? Which is what I am 😎.

HHI over $350k and can’t do backdoor Roth because I have tIRAs…

like

I’m thinking about increasing my wealth but wanted to see what options I have. I don’t know much about stocks. I know real estate is a good way but not sure I have enough money for a second home right now. What other ways do you make extra income? My background is in audit, anything I can do with that in the side?

like

What percentage of your monthly income should be going towards rent? I live in a HCOL city.. so mines nearing half. I feel this is too much, but I’m still able to save a bit.

like
likeupliftinghelpfulfunny

How much is your emergency fund? My husband and I are DINKS with 5K monthly expenses but (because we are very privileged) live near family who could help us if something happened. We only keep 5K in our emergency fund because I want to invest as much as I can in index funds.

like

Am I doomed? I’m 36. Huge partier and spend $ like its going out of season. Make about $215k all in and have little savings. I just have terrible savings habits and just enjoy living for the moment.

like

Anyone use the personal capital app? If so, how do you split investments for married folks? Example joint ownership of home etc

like

Added this in the personal investment bowl but also wanted to get advice from the fire bowl! Thank you!

Post Photo
like

I have 60k in the bank and have no idea what to do with it. Ik it’s a sin to have that much in an account and not making it work for me. I’m not saving for any big purchases either. I’m not too savvy when it comes to investing and really want to strengthen my financial/investing understandings. I plan on sitting down with an advisor. Any advice?

like

Do I have too much cash ($35,000) in my high yield savings account? No immediate plans to buy a house (but could be an option). Rent is $2100 and have no other debt or month financial obligations.

like

Advice time. So I’m making 100k roughly and I still live with my parents. Moved back due to COVID as did a lot of people I think? Anyways I want to save $ to buy a house. Should I still be living at home? I was planning on leaving when COVID finally becomes a thing in the past so assuming the summer of 2022 so roughly 8 months from now. I know I am extremely blessed and thankful to god that my parents are kind and allow me this but just want advice please.

like

Any market considerations before refinancing my student loan with current rates? They’re giving me a .75-1% drop.

It’s worth it to refinance at this rate to save paying $1000 of interest albeit credit gets hurt. My only concern is missing out on inevitable lower rates forthcoming.

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal