#1 Question asked so far!
Thread Starter
Instructor
Joined: Oct 2007
Posts: 207
Likes: 0
#1 Question asked so far!
Hi all,
The #1 question so far is how can I afford a z06 on a SSgt pay. My only response is how can you not afford one. I keep getting funny looks and they think i am doing something on the side to pay for it. Kinda kills me. I am wondering where all there money is going. I did the typical thing when I got married, adopted a little girl locally, and ran up lots of debt but after 4 years of working a second job and the wife working we have our bills under control. I am 30 freaking years old and deserve something nice for my hard work.
Pay chart available anywhere on net.
e-5 (SSgt) 2000+ take home cash
600 a month for the z06 (which i will refinance to drop payments)
360 for wifes car
500 for living expenses
0 rent (base)
(0) food (256 extra pay for food)
0 utilities
0 for college (af tuition)
What are my peers spending there money on?
Does anyone else experience this?
Sorry for the rant!!
Nick
The #1 question so far is how can I afford a z06 on a SSgt pay. My only response is how can you not afford one. I keep getting funny looks and they think i am doing something on the side to pay for it. Kinda kills me. I am wondering where all there money is going. I did the typical thing when I got married, adopted a little girl locally, and ran up lots of debt but after 4 years of working a second job and the wife working we have our bills under control. I am 30 freaking years old and deserve something nice for my hard work.
Pay chart available anywhere on net.
e-5 (SSgt) 2000+ take home cash
600 a month for the z06 (which i will refinance to drop payments)
360 for wifes car
500 for living expenses
0 rent (base)
(0) food (256 extra pay for food)
0 utilities
0 for college (af tuition)
What are my peers spending there money on?
Does anyone else experience this?
Sorry for the rant!!
Nick
Melting Slicks
Joined: Oct 2006
Posts: 3,447
Likes: 6
From: Los Angeles
I experience the exact same thing, I'm also a SSgt but with a C5 coupe. Although my payments are $398, and my wife's car is paid for. I also have a DD beater and a nice motorcycle which are paid for. The C5 is my only payment. We have no debt otherwise.
I usually answer the questions with, "you really don't know how affordable a used C5 is". An E-3 in my unit took the comment to heart and bought a Torch Red Coupe. Although, he sold his brand new car to do it...
Military pay is a joke though, it allows me to live well... but not well enough for the future. I'm grateful for my time, but I'm punching my ticket in 18 months. The civilian equivalent of my job pays 6 figures, whereas I make 28k a year after taxes.
I usually answer the questions with, "you really don't know how affordable a used C5 is". An E-3 in my unit took the comment to heart and bought a Torch Red Coupe. Although, he sold his brand new car to do it...
Military pay is a joke though, it allows me to live well... but not well enough for the future. I'm grateful for my time, but I'm punching my ticket in 18 months. The civilian equivalent of my job pays 6 figures, whereas I make 28k a year after taxes.
Thread Starter
Instructor
Joined: Oct 2007
Posts: 207
Likes: 0
WOW 398!!! I wish would have got that deal. I had a 350z 26k at 5.5% that I paid 436 for. The pay is pretty nice for me. I am just waiting to complete my IT degree and with a TS clearance = easy six figures. I am going to refinance in a year to lower payments to around 530. To clear some debt I went to a credit consuling place and that drug my score down a little. But it saved me a fortune.
Melting Slicks
Joined: Oct 2006
Posts: 3,447
Likes: 6
From: Los Angeles
I got my CCAF but I'm working on my BS, In my 3rd year now. Already have the TS so I'm in the same boat as you. The easiest way to save money is to not spend it. Look right and look left, see how many other younger enlisted guys are buying new cars and flat screens.
If you have any debt, pay it off. Don't eat out, don't go to movies... sure everyone else will have better stuff than you, but at least you won't be in debt. My TV is 4 years old, it's pretty good. I'd like a flat screen, but the money I would pay for it looks better in my investments than it does on my wall in HD. Don't buy anything on a credit card unless you can pay it off a the end of the month. Basically, never plan to carry over a CC balance. Do these things and you'll be good! Once the debt is gone, you'll have more money to spend or invest.
You can refinance for lower really? Have you looked into USAA? They've always given me the best loans/banking. Just remember, when you refinance you start the loan term all over. Sure the payments may be less, but it will cost you a lot more in comparison in the long run. Also remember, you are paying mostly interest at the beginning of the loan and the principle more at the end.
If you have any debt, pay it off. Don't eat out, don't go to movies... sure everyone else will have better stuff than you, but at least you won't be in debt. My TV is 4 years old, it's pretty good. I'd like a flat screen, but the money I would pay for it looks better in my investments than it does on my wall in HD. Don't buy anything on a credit card unless you can pay it off a the end of the month. Basically, never plan to carry over a CC balance. Do these things and you'll be good! Once the debt is gone, you'll have more money to spend or invest.
You can refinance for lower really? Have you looked into USAA? They've always given me the best loans/banking. Just remember, when you refinance you start the loan term all over. Sure the payments may be less, but it will cost you a lot more in comparison in the long run. Also remember, you are paying mostly interest at the beginning of the loan and the principle more at the end.
Last edited by DefenderC5; Nov 2, 2007 at 09:11 PM.
Melting Slicks
Joined: Jul 2007
Posts: 2,430
Likes: 1
From: Somewherebetweenhereandthere
Are you in the AF?
As an E-5 Sgt in the Army. I afford my Z06 because I want to!!!!
I could buy another car under $30K but why? I love Corvettes and its always been a dream to own one or a few!!! I bought a C3 after EOD school, but decided to sell it for a C5Z while deployed!!! I might have to buy a beater because Colorado's winter, but so be it.
C5's are very affordable too!!! Its way better to own alittle on a Vette than a Honda in my eyes!!!
As an E-5 Sgt in the Army. I afford my Z06 because I want to!!!!
I could buy another car under $30K but why? I love Corvettes and its always been a dream to own one or a few!!! I bought a C3 after EOD school, but decided to sell it for a C5Z while deployed!!! I might have to buy a beater because Colorado's winter, but so be it.
C5's are very affordable too!!! Its way better to own alittle on a Vette than a Honda in my eyes!!!
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Melting Slicks
Joined: Oct 2006
Posts: 3,447
Likes: 6
From: Los Angeles
Wrong. I work in the office that processes the clearances for my entire base. I'm quite well versed on the topic. You only end your access when you separate... not your clearance. If you want to talk about it more, you can PM me =)
Burning Brakes
Joined: Apr 2005
Posts: 1,159
Likes: 3
From: Florida
I just left the DOD with a TS less than 2 years old. I went to DHS and completed the exact same SF86 and interviews! Except it only took 6 weeks instead of 2 years to complete!
Tech Contributor
Joined: Dec 2006
Posts: 10,962
Likes: 29
From: Van Buren Arkansas
Wounded Warrior Escort '11
I got out of the AF as an E-5 making $214 every two weeks... oh yay but that was a long time ago. The fact is, the more you earn, the more you spend and on-base housing and no utilities won't cut it on the outside. Getting out, I quadrupled my pay right off, but it cost a lot more to live on too. Now, 23 years later, looking at early retirement where I can enjoy my toys...'99 Coupe and '07 Z51!
Thread Starter
Instructor
Joined: Oct 2007
Posts: 207
Likes: 0
Defender
You an instructor out there at Vandy? I am EMT at Warren. I am a speech class away from CCAF but I already have a A.S. in electronic engineering proir to my enlistment. I have a big screen TV but its pay for. The family doesnt go out to eat and the credit cards are going to be gone in a year. I cut my cable down to the top 220 which is 49 a month from 120 for every channel available. That is most of my extra payment right there.
You an instructor out there at Vandy? I am EMT at Warren. I am a speech class away from CCAF but I already have a A.S. in electronic engineering proir to my enlistment. I have a big screen TV but its pay for. The family doesnt go out to eat and the credit cards are going to be gone in a year. I cut my cable down to the top 220 which is 49 a month from 120 for every channel available. That is most of my extra payment right there.
Le Mans Master
Joined: May 2006
Posts: 6,774
Likes: 363
From: Midland TX
Just my house payment, utilities, food and insurance payments run over $2,400/per month AFTER taxes - and I live alone, don't drink, don't smoke, don't travel and don't date! I wish I had an extra $2000 per month play money coming in after all of those base expenses!!! Plus my business expenses are about another $20,000/year min. just to stay in business as a consultant to generate the $2400+/month!
Where do I enlist!
Where do I enlist!
Racer
Joined: Nov 2006
Posts: 311
Likes: 2
From: glenside pennsylvania pa/ la
not 6 months ago as an e-4 in the air force i had an 05 srt 4, 93 gmc truck , and a 97 white vette. still hvae all of thme the srt4 ended up being my finaces but i pay most of the bills. she does everyhting else. thank god for her
Race Director
Joined: Mar 2004
Posts: 12,466
Likes: 886
From: Fort Wayne IN
2025 C5 of the Year Finalist - Modified
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Hi all,
The #1 question so far is how can I afford a z06 on a SSgt pay. My only response is how can you not afford one. I keep getting funny looks and they think i am doing something on the side to pay for it. Kinda kills me. I am wondering where all there money is going. I did the typical thing when I got married, adopted a little girl locally, and ran up lots of debt but after 4 years of working a second job and the wife working we have our bills under control. I am 30 freaking years old and deserve something nice for my hard work.
Pay chart available anywhere on net.
e-5 (SSgt) 2000+ take home cash
600 a month for the z06 (which i will refinance to drop payments)
360 for wifes car
500 for living expenses
0 rent (base)
(0) food (256 extra pay for food)
0 utilities
0 for college (af tuition)
What are my peers spending there money on?
Does anyone else experience this?
Sorry for the rant!!
Nick
The #1 question so far is how can I afford a z06 on a SSgt pay. My only response is how can you not afford one. I keep getting funny looks and they think i am doing something on the side to pay for it. Kinda kills me. I am wondering where all there money is going. I did the typical thing when I got married, adopted a little girl locally, and ran up lots of debt but after 4 years of working a second job and the wife working we have our bills under control. I am 30 freaking years old and deserve something nice for my hard work.
Pay chart available anywhere on net.
e-5 (SSgt) 2000+ take home cash
600 a month for the z06 (which i will refinance to drop payments)
360 for wifes car
500 for living expenses
0 rent (base)
(0) food (256 extra pay for food)
0 utilities
0 for college (af tuition)
What are my peers spending there money on?
Does anyone else experience this?
Sorry for the rant!!
Nick
