View Poll Results: how much of your *discretionary income* is allocated to: Cars and your Home projects?
80%+ Home (counting on vacation property, man cave type stuff, garage mahals) or Cars
26
22.41%
50-79% of your discretionary spending goes into Home/Car Related
20
17.24%
26-49% of your discretionary spending goes into HCR
26
22.41%
10-25% of your discretionary spending goes into HCR
34
29.31%
ZERO- I wear turtlenecks/drive silver Q5/wax my 928; arguing here subs for family
1
0.86%
100% INCOME is spent on cars/more cars and racing/track days/ insurance
5
4.31%
I'd rather ruin threads: GT3RS/competing cars/market; my job is to tell y'all how to spend
4
3.45%
Voters: 116. You may not vote on this poll
OT: Distractions and Priorities of Discretionary Spending VERSUS GT3RS
12-24-2018, 01:10 PM
#31
Statistics say most people spend their money on something. In Thomas Stanley’s Millionaire Mind he says most millionaires don’t spend money on expensive cars. We are like crack dealers talking to each other.
12-24-2018, 02:21 PM
#32
I'm more income strapped than most here (or on Ferrari, Lamborghini etc boards), so any purchases require years of planning and saving. So the answer is I try to allocate $15-20k per year on car stuff (purchase/maintenance). Tend to buy cheaper DDs (current is a $20k 4 year old Ford Escape to have more fun car funds.
Anything for the house is in a different bucket....
Anything for the house is in a different bucket....
12-24-2018, 02:22 PM
#33
More like crack USERS....God knows I don't make money on this.
12-24-2018, 04:22 PM
#34
Rennlist Member
Originally Posted by Jrtaylor9
Embarrassed to say I have no idea. Kids and wife make it difficult to easily quantify it. As long as my bottom line keeps going up more than my burn rate, I just try to enjoy life. I used go be neurotic about analyzing my income/spending/etc. one day when i hang it up and income stops coming in, I'll probably get more disciplined about it. For now, I just try to make decent decisions about the cars I buy and limit depreciation half-life machines and/or maintenance pigs (save the CGT).
At this phase in life, time is my most scarce resource. So as long as I'm not running in the red, i optimize for time and experience. One day, I hope that will flip as I retire. But, I have a "test trial" on retirement over the next 6 mos. I plan to go back at it hard after the 6mo, but who knows, I may decide I like having more time than income? Then I'll need to know the answers to your questions above. Again, my wife and kids may have more to say about that than I do
At this phase in life, time is my most scarce resource. So as long as I'm not running in the red, i optimize for time and experience. One day, I hope that will flip as I retire. But, I have a "test trial" on retirement over the next 6 mos. I plan to go back at it hard after the 6mo, but who knows, I may decide I like having more time than income? Then I'll need to know the answers to your questions above. Again, my wife and kids may have more to say about that than I do
12-24-2018, 09:14 PM
#37
I said 10-25 percent but I don’t really think in terms of discretionary spending, but percent of net worth. The money i have in my toys are never more than five percent of my liquid net worth. That’s my limit. If I didn’t have the wife and kids, I’d push it higher.
12-24-2018, 11:20 PM
#38
Burning Brakes
besides car stuff, I'm actually bigger into mountain biking, and snowboarding. So I set aside money for gear, trips, and the occasional racing.