How to save more money as a teen, for a car and motorcycle?
I'm about to turn 16, and would like to save up for a reliable, cheap (2k-4.5k), good-looking, car. It has to be American, or anything other than Honda, Subaru, Toyota, Lexus, Hyundai, etc. cause dad works for GM. I am paying for the car on my own, most likely, but maybe I can convince parents to pay 1k or so. Money is tight right now in my family. Dad got demoted last year during GM's bankruptcy, and may get a promotion in spring. My Mom is opening a restaurant this year, which is going to cost a lot. I got a job in November at a brand new Kroger grocery store, where I get minimum wage and cannot work over 16 hours per week because I'm only 15. I have saved a little over 1.2k in the bank. I also have invested $500 of my own money this year into stocks, which are up a little. This might sound dumb to some, but I have dreamed of buying a motorcycle. I want a Kawasaki Ninja 650R. AND YES, I KNOW INSURANCE COSTS MONEY, (FOR CAR AND MOTORCYCLE) I'M NOT AN IDIOT. I also need to plan on how to save for that. Any tips, help, and info would be great! Thanks so much.
NO WHEELIES :(2011-01-26T13:02:02Z
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Sounds like you have it figured out already buddy. For your motorcycle check out a yamaha yzf600r They are fast, cheap, and reliable bikes that are great to learn how to ride on. As for a car buy a General Motors car with a 3.8 V6...Best engine ever
Help yourself - you can check your quotes in internet for example here - DEALSQUOTES.INFO
RE How to save more money as a teen, for a car and motorcycle?
I'm about to turn 16, and would like to save up for a reliable, cheap (2k-4.5k), good-looking, car. It has to be American, or anything other than Honda, Subaru, Toyota, Lexus, Hyundai, etc. cause dad works for GM. I am paying for the car on my own, most likely, but maybe I can convince parents to pay 1k or so. Money is tight right now in my family. Dad got demoted last year during GM's bankruptcy, and may get a promotion in spring. My Mom is opening a restaurant this year, which is going to cost a lot. I got a job in November at a brand new Kroger grocery store, where I get minimum wage and cannot work over 16 hours per week because I'm only 15. I have saved a little over 1.2k in the bank. I also have invested $500 of my own money this year into stocks, which are up a little. This might sound dumb to some, but I have dreamed of buying a motorcycle. I want a Kawasaki Ninja 650R. AND YES, I KNOW INSURANCE COSTS MONEY, (FOR CAR AND MOTORCYCLE) I'M NOT AN IDIOT. I also need to plan on how to save for that. Any tips, help, and info would be great! Thanks so much.
So far so good! I applaud your efforts so far. Now where to get the extra scratch. For now the scrap yard is your friend. On big garbage pickup days [or anytime really] you can scrounge for anything that has copper in it. Old fans. electric wire scraps, Lamps, heaters anything. Don't laugh, copper is about 2.25 / lb today. Do you have any idea how much an old milk crate full of clean copper weighs? There's gold in them thar junk piles! Just be sure you ONLY take it from the garbage. There are those that steal and those that try and take live wire, with deadly consequences. Other metals are worth a bit too. Look in your area for a scrap metal dealer then your set. I've included a link to current pricing. Get busy! It's how I bought my first new bike!
I applaud you desire to get things for yourself. You don't see that very often in the youth of today. A couple of tips....One, when buying a cycle or car, try to get something you can buy outright with out financing......this will keep you from having to carry "full coverage" insurance and it'll save you a lot of money as a teen. Two, take care of your credit rating.... Eventually, a motivated individual like yourself will want to buy something you need to finance, and the better your credit score, the lower interest rate you'll receive. However, if you let your credit take "dings" many of them won't come off for 7 years; so you'll spend a long time recovering from a "miscue".......