Thanks man. Its true though if you Drive Hammered, Your Going To Get Nailed! HaHa! Good luck with your career and goals in life.

 

what does that mean?

 

More info then you wanted, but you asked

http://www.ruleof72.net/

How to determine the number of years it will take for your investment or debt to double in value.
Divide the number 72 by the percentage rate you are paying on your debt, or earning on your investment. Here are two examples...
Remember: 72 divided by the Interest Percentage is the number of years it takes to double.

 

If you get into an accident, your insurance should cover it, therefore it won't really come out of your pocket.

wow...that's quite a big range

 

Thank you.

Not to be rude, but I don't see how this applies to me. I'm only 18.

 

If health care costs keep rising at record rates, in just a few short years nobody will be able to afford it.

Sure, I'll agree that knowing how much radiation dosage to give me IS important, a $1-2 million salary for that job is one of the many reasons for the rise of healthcare costs. Do you really NEED to make that much? Or would you be just as happy at $500k for the same job? Sure, you'll take what they give you(me too), but is it really right? Most people are too greedy...(me too, to an extent).


BTW, congratulations on your new purchase! Just remember that when you're in the driver's seat to DRIVE, nothing else!

 

Well I sometimes take AP classes

 

yeah-I take AP classes too-online:smile: (seriously, Im taking AP microeconmics as an online course-I spend plenty of time doing research

 

exactly! Does anyone else want to explain why this proves my point exactly!
If you were taught anything about how to manage money this should have been the first lesson!

if you invest 25k at 18, at a modest 7% annual return, at age 60 that amounts to about $374,250
that same 25k at 25, same rate, returns $233,250 that is a diffrence of almost $140,000 dollars.
why? compounding intrest....thats why its stupid. Time is the most powerful asset we have
That means your car did not just cost purchase price + maintence, it costs you $144,000 dollars + the cost of maintence invested over that time.

This is what draws my wrath, I have no problem when kids acknoledge that their parents buy everything for them. Thats great, just be greatful!!!
But don't run around saying that you are a self sufecient person who pays for their own car (shelter, food, insurance, gas, clothes....etc as well) when you dont!
When you pay for EVERYTHING then you can say YOU bought it! Just call it what it is.

 

I am afraid of this many times too, as sometimes I relent mentioning that I am 16 for the same reason, even though the mini is my dads.
I like to "think" at least, that I know the princeples about money management. When I earn or recieve money, I save, save, save, and I do not spend it unless it is absolutely necessary. I even mentioned buying my own classic mini, or another car, upon which my dad said he would sell his mini.

I know some people who are cocky and rich-and when I had the MINI I considered myself to be the luckiest kid/man alive-a Mini COOPER S WORKS for my first drive! I know the basic principles of money managment beyond just saving, but lets just say I wouldnt "conserve my fuel mpg" to save money"

 

Some of you guys need to lighten up off the younger folks here! While no, they are not completely self sustaining, they are contributing a good deal towards what they want and they are proud of what they are able to do. I was not fortunate enough to come from a family that was able to pay for my college and what not but I did get some help from time to time when I needed it. But I still felt that for a person my age I was pretty darn self sustaining and I was proud of what I contributed to sustaining myself. These guys are lucky for what they have and I think that they seem pretty grateful for it too.

Stop talking about your WRATH and financial planning. In terms of finances, it does not EVER make good financial sense to by ANY new car! MINI's are not about financial sense, they are about having fun. So stop bickering about money and go motor!

 

this thread is quite amusing

 

Hmmm, you think police are douchebags and drive agressively. No offense Sport, but it sounds to me like you deserve to be ticketed.

You might want to try getting your high speed thrills at a driver school/track day. You will find out that (1) there's more to driving fast than putting your foot down in a straight line and (2) you're not as good as uyou think you are.

Good luck and don't hurt anybody.

 

I would appreciate if you read the entire thread! I think you would find that my attitude has changed in the past week. It not only changed through this thread but while I was on my way back in my MINI the day I got it, and I saw a Indiana state trooper almost get plastered onto the front of an 18 wheeler when he had someone pulled over, he quickly pursued, but I realized how much they put their life on the line every day because of flat out stupid drivers.

 

man it has to be great not to worry about paying for college, the living expenses alone are expensive. im an 18 year old senior in high school and i think that you guys/girls that are younger than me and have a new car that your parents paid for should be perfect students and the perfect child. i do not have a mini it is my brothers hence the screen name. i just enjoy driving it every chance i can, or any car for that matter! on a side note i love to have fun driving, i drive agressively at the drag strip and nowhere else, i have a couple of fortunate friends with nice cars. when i do drive and friends are with me they always ask why do you drive the speed limit, i tell them i cant afford a speeding ticket, cuz i cant. im just saying you guys that got your future all covered thats great take advantage of your parents wealth/generosity if they are paying for college you better go because there are people out there that would love to be in your situation.
end of my rant.
Ben

 

You'll be just fine now Glad you have an open mind so you don't have to learn the hard way as most of us have Keep your eyes open...you can't avoid what you don't see

 

Well said CCS

Glad to see that with a few well meaning posts we could affect this. Or at least I'd like to think we had an effect.

Remember to watch out for the other guy; he might not have had such caring friends.