tunercrazed

oh? I would have nfc what I'm doing though... but if by some miracle I could get a referal that'd be awesome. =3

2000Si

I'm glad I don't have your debt. I did some addition last night and my debt was somewhere just under 75k total.

philyphreak2127

ha ha the joys of being 18 still my debt is at like $6000 unless you count my unfinished projects which would make it like $10,000. Still nothing unmanageble. the only shitty thing is I had it down to owing like $4500 and then got laid off and haven't found a steady job since.

You have a sick job making anywhere near $100,000 workin 6 1/2 hour days? damn. you must really know your stuff.

Celerity

clayton just has a way of phrasing his earnings and his debt. He's a schmoe just like all of us.


Brian is too.

Airjockie

yup, I'm just a schmoe like 95% of the rest of the working blue collar class people. But 17 years of working on aircraft and cars....and bars... I've picked up a few things. I just got lucky getting the job I have now, and all the years of hard work is finally starting to show a sliver of success.

And thats what I have been shooting for, for all these years....

house, cars, wife, and a shit load of useless crap sitting around collecting dust..... every blue collar working man's dream.

and I did my taxes today....$7K's are going into my bank account in about 7-10 working days....

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philyphreak2127

as for everyone saying enjoy your money now? I would say pay off the debt as much as possible before you enjoy the money. Any investor with a brain in their head will tell you paying more than your monthly payment on ANY loan you may have will save you however much your interest rate is in the long run. I maybe only 18 but I was paying like an extra $39 a month on my car payment to round it out to $250 a month and ended up cutting like 3 payments off my loan. I know you probably already know all of this but still its amazing to me how much paying just that little extra will save you so much money in the end.

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George777

So, Clayton...wanna give a reference?

Airjockie

sure...

Airjockie

but I might not be well liked after last night.....


I went apeshit when I saw how a group of guys did work on an aircraft...

First there was a write-up on a flight control pulley being scratched...and that opened a can o' worm's.

They repaired the pulley by sanding it down....a big no-no... so I got half of the 3rd shift to help change it. When I was doing the rig check...I found out that they didn't have the right rig pins, and that the cable tension on the flight control cables were annotated wrong in the data records for the aircraft...and I was literally slamming all the main guys that is working at the plant....for doing crappy and un-exceptable work.

we will see how many emails get flown off today in the company with my name on it. I've had such a good day at work, I'll test my luck and go back out on that casino cruise baot this morning with all the guys from work....blow thru my paycheck and get a nice long massage from one of the masseuses on that that boat...

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tunercrazed

"massage" mhmmm I know what your thinking....what would your wife say...

get_nick

i'm an investor with half a brain and say that you are wrong. but i would be arguing details such as early payment penalties and such.
it's better to chew some ass now, than to lose yours down the road because of a downed aircraft. and you know this one for a fact.

Slammed89Integra

I agree with Nick. The oppurtunity cost of paying off your loan might cost you lost profit where you can invest in other items.

But one can argue that owning the car outright will put it into the asset category and will give you "market leverage" down the road, just like owning anything that can "potentialy" make you money.

B

a car is almost never an asset, even if you own it outright.

Jeef

It depends on the loan for overpaying. I pay extra every month on my truck loan. There are no fees for early payment. I have already taken 9 months off of my loan in a year and a half.

nootrac22

when over paying don't forget to put "ballance towards principel"

B

if you get into a loan with early payoff penalties, you're a moron and get screwed.

reckedracing

a extra 39 a month saved you 3 payments because you already paid them
not because they somehow disappeared
paying extra is a good idea, but i'm guessing your interest savings was not incredibly much, but of course i also don't know the terms

a car is always an asset
whether is appreciates or depreciates is a different story

get_nick

B has a lot of 1099's, so his car is always an asset. even if it loses value, the depreciation is a write off.

B

how does one write off a car?

get_nick

i use turbo-tax. it's one of the options there. buy or sell of car for business. a car is the same as if you have construction equipment that depreciates. a 1099 is a very basic tax form for self employed people, but if you are a corporation, you have all the same write offs. my dad is self employed and has a lot of equipment and a big redneck truck.

if you can find a way to say that you use it for work, you can write off the cost as well as mileage and maintenence.

B

yeah, that won't fly though. i use my car for 0 of my 1099-related work

nootrac22

there you go, now you have proof. It's on the internet, it must be true.

B

i typo'ed that. i meant i DONT use my car

get_nick

you can also use it for your regular employment too. it's called non-reimbursed expenses or something.

if you have a 1099, then you can file it. just depends on how much you want to fudge on your taxes. i used my car for some of my "jobs" and counted the mileage.

eg6sir

i'm now in debt $240,000 .. $150k on the house.. $90k in medical bills..