Thanks everyone for replying. I don't feel so bad now. We do have separate checking accounts. She buys all the groceries and monthly items and I take care of the rest . House payment is 1200/month. I do some extra work on the side and could probably get more but she needs help with our 3 yr old a lot. I cant wait until he's a little older to take him out in the shop more than I do now. I hate to go out there this time of year unless I'm making money because it cost's me to heat it.
And have realistic goals and expectations. Live within your means. Don't try to keep up with the guys who have money to burn. I've had the most fun with cars when it's rattle cans and cold garage floors, working by myself, slow but steady. Sometimes life just ****s and you have to be patient until you can get to where you want to be through hard work.
I agree with others, you have a money leak someplace. We made about that money when we had the kids at home; we paid off a 30 year mortage in 11 years, bought a couple new cars, had NO credit card debt. We put two girls through college on a 50/50 deal with them, both went to expensive universities. I managed to build two cars from non running piles, one basically from scratch. We never bought the boats, snowmobiles, ORVS, (though I did have a dirt bike most of the time, bought very used and rebuilt) or other "toys" The money is there, you just gotta find where your car money is being spent. Do EVERYTHING on the car yourself, buy used, swapmeet, donor parts, you should be able to build what you want.
is this a how do you do it thread?? it appears to have evolved , i use my natural gas and cattle grazing leases as my diposible income towards my hobbies.. its not a hell of a lot , but its enough for me and it doesnt take anything away from my family .. has anyone mentioned hot rods arent cheap? if the hobby gets in the way of the family , its time to change to another hobby..
It's called HUSTLE....second job, recycle parts, swap meets, use your talents to build for other guys, whatever it takes. And it takes awhile, doesn't happen over night. Charlie
Don't work harder, work smarter. Who makes the most money in your neck of the woods? What are they doing that you aren't? Luck happens when preparedness meets opportunity....and opportunity is always present. Do what successful people around you do and soon "luck" will come your way. Oh by the way, kids are a monumental resource drain...spend like hell on them now and your investment will pay off when they grow up. Life really isn't fair, the older I get the more money I have and the less bills there are to pay. I am retiring at the age of 58 next month, I've been where you're at so just hang in there it does get better.
The base paycheck is OURS and all of the overtime I make from time to time we put in a seperate project account, and I always ask for napa and kragen gift cards for christmas and birthdays...I also sell my old junk on the evil ebay, you would be suprised what people will buy.
AMEN to that! Dave's plan rocks, do it, pay everything off, it's easier than you think (I'm still not done, but just have the house and car left), and it seems like you have more money every day. Oh, also, like the guys have said, scrounge, do side work (I build websites), and don't buy stuff you don't need. Ben
I pick up stuff at the local s**** yards where I can still buy cheap stuff. I bought a 29 chevrolet for s**** weight at $66. It looked like junk, only half there. I have sold over $700 off it in parts on Ebay. Still have the frame to sell for an underslung or something else. I just keep my eyes open and make money off the hobby we are all here for. Then, every once in a while, I'll spend a little of my income on parts just like it was a mandatory bill. But yeah, It takes about a year to build a 5k project on my system. But not much out of the household there. My stuff is just "pro junk" on my budget right now. Probably more fun than taking care of 10k worth of paint! I will admit, my home on wheels and another 40 acres of land only costs me $655/month.
Take it easy on yourself. You have two boys who need a dad at home. Take them to swap meets, if only to buy them a can of pop. When they are grown and gone, then the money will be there, and they will be there to help. It sounds like a long way off, but it happens in a snap. Been there, done it.
im young so im planning ahead i collecting parts for my first build im getting married this year i told my girl no kids until im 30 and my first hot rods done and she agreed. i got four years to make it happen and she gunna help fund it to make sure it happens
thats life man i am the exact same way right now, but my wife is going to school full time... i am either on my last fume of gas before a check or overdraft.. i can afford small things, but it's hell... It does **** not having alot of money for cars, but now i feel a little bit better that i am not alone...
Forget The Side Jobs And Under The Table Money Its A Fools Paradise, Go Legit, Form A Llc Corp Run A Biz Part Time But Make Legal And Formal Accounting Rules , Bookeeping Declare All Your 2nd Biz Income, If The Biz Is Auto Related Or Related To Your Mechanics Job You Can Deducted All Your Expenese , The Feds Will Lets Write Off Your Tools, Welders, Parts, Truck Your Hot Rod Is Advertsing. A New Truck Can Be Written Of For 100% Of The Value In One Year My 2007 Silverado Only Cost My Company $9000 After Dedcutions. You Need To Learn How To Play Them Game Like The Big Boys. Its Not That Hard, Cell Phone Paid By Company, Rods Runs Are A Biz Expenses. And Since I Resell Parts As A Llc I Get A State Sales Tax Exception. (no Sales Tax) But I Do Have To Collect When I Sell ( This Is Not Hard) Credit Card Intrest Deductable. No The Wife Even Has A Company Car. I Am Working On Getting My 4 Year Into The Company Pension Plan. And Its All Legal. And That Idea You Have For Something Really Cool Is A R&d Expense. In Short Your Not Playing The Game Right .
A little hard to read but you are dead right. Here in OZ it's easy to do this too,but we have the major problems of huge inflation ,the highest food costs in the developed world,greedy food companies and voracious landlords and property developers pushing the cost of living higher on a daily basis. You soon learn real fast how to budget so you keep a roof over the head and food on the table. No credit cards,( or pay as go cards to keep a rein on costs) No plasma screen TV's, DVD and home theatres are off the list,and with the cost of electricity going up 30% this year ,the aircon is only being used on the very hottest days. Have a long look at what sort of food is being bought in to the home..a lot of food is just sugar and corn starch with imitation flavours. Start checking out markets for vegetable and meat bargains. Cut out soda drinks and think about making your own. It all adds up in the end and life becomes interesting .
be patient most guys that do buiness at my shop are older and they had to finish raising their kids before they could build a car. others just had to settle for a less expensive car. my advice is to atleast buy a project car and do it slowly. it satisfies! at least i did for me when i was raising kids.i
Wow, i dont know what to say. So many errors, so little time. you really need to look into that link as well.........
I'm embar***ed to think 30 years ago my wife and I would pack up the kids to go to a cruise night and we would have to take sandwiches because we couldn't afford to eat at the drive ins. Just kept plugging away, a part here, another part there, trade some parts. Kids are all out of college now and I can finally affor some nicer parts. The old hot rod has been racking up miles the whole time. 130,000+ miles My main focus has always been the family, as it should be.
Listen to this guy. Dave changed my life. Words to live by. You know what cracks me up? When some dude says to me 'I wish I had money to build a hot rod or a kustom' (I'm working on both) and he's got a car payment, it's usually one of those $400+ a month fullsize new pickups. If you're a car dude, drive something that isn't brand new and fix it when it breaks. Or he's got a house he can't afford. Or he's got 37 credit cards and uses em for his daily living. All of these things eat away at your actual cash and keeps you from being able to buy actual stuff. Set a budget and live on it. Get rid of your payments, either by selling the **** they're attached to or busting your *** to pay em off. There's ALWAYS something to spend money on in this country, if your make $20k or $200k, and if you don't budget what you're gonna spend money on and not spend money on things you haven't budgeted, all the money in the world will find a way to spend itself. Your friends and neighbors are willing to trade their future for having things now, so there's no point in keeping up with them either. It also helps to have a good emergency fund, that way unexpected surprises don't make you spend money you don't actually have. But, seriously, just listen to Dave...
You're also not as far up what I call the vehicle ladder as a lot of guys here. Here's how lots of guys get to a really great car. Start with a total POS, work on POS til it's acceptable, sell off. Hunt for a more acceptable car, then make it decent. Sell the decent car for good money, now buy a good car and make it great. Do that to a couple projects simultaneously for a decade or two and pretty soon the garage is full of cool stuff, and the last one you sold is bankrolling a different build while complete cars sit nearby. I also live in a cheaper house than my co-workers do, and put my project car infrastructure to use whenever a cheap & wounded late model comes along that I can fix for 60-70% of book value. I'll swap an engine or paint a fender and throw 40 hours into rehab. They end up as my daily for a while, or barter material, or project cash. While I'd much rather use my skills for evil, sometimes you gotta wrench a late model for the greater good. Good luck
Hey Hoarder 1212, I feel your pain.Priorities and responsibilities kill interests and hobbies really fast. There was a book called "Four Things a Millionaire Taught Me" (something like that).The author states that you should save something,no matter what each pay to ins***ute a policy to prioritize your desires.Good point. Try this for one month;weigh each purchase according to desire and need.If you don't buy that item,put the necessary money away in an envelope and tally up at the end of the month. It added up for me. Having kids takes a huge chunk of time and money.There has to be a payout on that someday?(I've got two kids)I'm wondering when/if the "howlers" will take care of the old man some day? It's a pretty dream... Hope things go your way.We're all in this dilemna. Good thing aluminum pays well? I'm drinking as fast as I can too!
I agree with alot said here... Lotsa guys gimme **** about my ****box 1991 toyota celica beater....but why do I need a car payment when I dont drive the toyota? (government issue car that I'm allowed to use off duty) Wifes SUV....paid for, cash, got it for 5g's cheaper than list....didnt have power everything though and I plan on keeping it as long as the toyota (300K) Cable? whats that? Voice mail? nope gotta answering machine....remember those? cell phone....I've been cell phone free for 5 years....loved every minute of it...the other week I ****ed it up and got one seeing as it would make my life easier in the workplace...I gotta pre-paid though and dont give anyone my #... Lawn service....I am the lawn service and home handyman as well as the plumber and electrician. the only thing that aint paid for is the house... evaluate where the $ goes....I'll bet you'll find some expendatures that you can cut....
o.k.. ever see the guy on the freeway offramp with a sign that reads " will work for food"?? thats me... .. on the serious side.. i have the same problem... i have no idea where the money goes.. it seems like i'm always scratching my *** at the end of the month looking for an extra dollar for something or another... there are some good suggestions in this thread.. now... if i was only smart enough.........
So, if my LLC buys the pistol that I shoot myself with, can it be written off as a tool? Cause apparantly I'm just a fool somewhere in paradise......
Open a checking account in just your name. Cash your pay check there and deposit 10% in that account. Take whats left spend it on the house hold expences, Pay yourself first that is your seed money. Dont never spend your seed money invest it in something that you know how to make a profit from you will have money quicker than you think. Also if you save up the money to buy something. Buy the time you get the money. You may not have wanted the item as bad as you thought you did OldWolf
I have an excel sheet where I post all my money in and out, right down to the cent. I can look up over the past year and see where all my money has gone and where I can save some. I think the worst thing about making a budget is that as soon as your on the right track something ****ty happens. As soon as things were looking up for us we had a blown motor in the daily, followed by a ******, followed by selling it for what I owed and buying a $2000 truck, followed by the electrician unexpectedly being able to do my garage that I'd been waiting on for a year (& overbudget...), fridge ****ping out, etc, etc. We got through it though,.. I just wish I would have keep better track along time ago.. to think of the wasted money..
Written Budget, write it down! Pay off that credit card, check out Dave Ramsey he is on the web, be the best thing You ever done for the family..was for me...
I have two jobs: Install commercial doors and hardware during the week and Bartend on weekends. I'm always tired. Keep in mind I've had my car for seven years and finally hoping to finish this year. Budget over time.
I guess i was lucky .. 2nd marriage kids are all out of the house thru 2 marriages ive never had a house payment over 600.00 .. I tried to pay all my bills and not run up the cards. I did body and paint work out of my garage for years so i had cash for toys.. One toy fixed up and sold led to another and another.. Im doing my 5th car for my self now and ive got 25k in it now and its all payed for.. Oh ya the wife and i have an income of about 84k and were doing fine cept she tends to spend a little too much on the grand kids .. I do live in a house that payed off but we have a truck and car payment.. 1200 a month isnt extreme for a house payment and with your income id think you could do a lot with your left over cash. One thing to remember ,,, unless you hit the lottery and with kids at home the first id say 10 to 15 years is gonna be tough.. It just doesnt come that easy but in due time every thing balances out.. Dave
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