Mods or save?

[elderlycoffee]

My brother will be 16 at the end of the year and will more likely than not inherit my MS3.

I've recently gotten a better job than I had and I make around 1,200 a month, Certainly not enough to make an adult living on but i'm just a senior in high school and I'm pretty happy with it.

I have a list of upgrades I want to put on the MS3 including

TMIC
Exhaust
Short Throw Shifter
BOV
Wheels
XEDE

I could be done with all of these things before summer.
However, If in fact my brother does get the MS3 that means I'll be getting a new car. Should I save my money even though it's not definite that he'll get the MS3 and put it towards something really nice at the end of the year or should I get the mods I want and have a hell of a summer?

[chacon101]

Do you love your brother?

[jbiird317]

well if your parents bought it for you, I would check with them first before you mod it at all, but also to see where they stand on giving it to your brother...

now if I was ur brother, I'd be telling you, sure, go ahead and mod the crap out of it then pass it along to me :-D

[autoxes]

I'd save the money...you can ALWAYS buy the mods later, I don't forsee Protege Garage collapsing in the forseeable future. Plus, if you wait, you could pick up a lot of that stuff on here for a fraction of the cost.

[subparpunk03]

I would mod it and hang on to it. This will be the perfect car for you in college. You can fit like 4 kegs inside of it!

[Powerslave]

why would you mod it if your going to get rid of it?

[chacon101]

If you are going to give this to him, man, you could really get some good ass kissing for it.

I say mod it, what the heck. These are the best years of your life, have fun with the car (thumb)

[ZoomVT]

save the money for sure.
please dont give the ms3 to your little brother... let him start with a slower car.
also, how can you afford the ms3 with 1200 a month?

[Mid_Life_Crisis]

save the money for sure.
please dont give the ms3 to your little brother... let him start with a slower car.


Somehow you've managed to survive owning a car that almost anyone over 25 would agree is way too much car for a teenager, good for you and great for everyone who cares about you. Think really hard about this question. Should a 16 year old be driving this car, even in stock trim, much less modded? If your little brother is going to end up with this car, I say save your money for mods for your next car.

[SharkDiver]

You have about 5k worth of mods listed..Do you really want to spend 4 months pay on a car you dont want to keep?Save your money and keep the car stock if you plan to get rid of it.Now if you were making 1,200 a week I would maybe say yes mod it but 1,200 a month is not worth it for you.I dont think your brother should be driving a modded ms3 as his first car anyways,It sounds like trouble.
By the way,What is your new job?I work for ford mo. co. at Chicago Stamping plant..I wont tell you what I make a month so you stay exicitied about your pay...:)

[Mid_Life_Crisis]

One last thing to consider: you are heading off to college soon. Trust me, college girls like guys with pocket cash better than guys who spend every cent on their cars.

[jred321]

save. if it turns out that you are keeping your car then you can spend a portion of your savings on modding. in the mean time while that's up in the air just save. who knows maybe your priorities will change by the time you get a decision.

i'd say get a good savings buffer then after that is in place spend a portion of your income on modding. this is, of course, assuming your parents are paying for college since they bought you a car. if that's not the case then work to pay for college and be happy you have a car that works

[fourthmeal]

SAVE.

The economy is going to tank, and you're going to want to have a lot of reserve money. It will happen, its just a matter of time and severity.

I went from well-off, high car payments, etc. to now (where I'm about to lose my car, and many other things.) All it took was for my wife to lose her job and not be able to get another. One little thing, and *poof*, suddenly you need to dig through your savings deeply. You're young, and you make $1200/month, or about $14,400 a year! That's not a lot of money in case something goes wrong in your life.

Save, and put your money in stocks like Gold or Silver, "sure things" in the market of today. But definitely spend a bit and have some fun when you have about 6 months' salary saved in the bank...or in your case maybe 10 grand.

[ZoomVT]

solid advice.

[mrlilguy157]

One last thing to consider: you are heading off to college soon. Trust me, college girls like guys with pocket cash better than guys who spend every cent on their cars.

VERY GOOD ADVICE.

its the truth. i have a hott car, and I sorta run a business for this world. the girls dont find it too sexy, but they do love the torque and driving on the twisty's.

i'm single though.

[Sierra117]

save the money for sure.
please dont give the ms3 to your little brother... let him start with a slower car.
also, how can you afford the ms3 with 1200 a month?

How couldn't you? What interest rate/payment plan has you paying 1300 a month for this car?

[clos561]

One last thing to consider: you are heading off to college soon. Trust me, college girls like guys with pocket cash better than guys who spend every cent on their cars.

fuck that, dont spend your money on gold diggers. If your going to keep ur car(ask ur parents) mod it. if not save up. Its true tho, u really can fit 4 kegs in the back....5 if u ride solo(thumb)

[jred321]

all remember that he's young and his bills don't exist. he doesn't pay for his car, presumably he's not going to pay for college, so really the only thing he has to afford is food, gas and going out. $1,200/month is more than enough for that and, in theory, he probably has an extra $1,000/month. so while saving is great and definitely put a good chunk in the bank, you have 4-5 years before you have to worry about real expenses so have some fun while you can.

i think i read once that if you put $5,000/year into a retirement account at a 10% return from the time you're 18-22 and you don't touch it again you end up with around $1,000,000 by the time you retire. it was something in that ballpark. if you can do that then by all means do it, but don't live totally for the future, have some fun

[subparpunk03]

Another thought, don't spend the money on mods, spend the money to take it to the track so you don't kill yourself doing something stupid on the street. If you want to push the car, take it to the track. We don't need another post about a HS kid on the forums colliding head on with a humvee and being killed instantly. I'm sure your parents would be pretty upset too, but mainly, we (the global internet community) is sick of hearing about kids that make one bad decision and end up dead as hell.

Also.... 4 kegs in the trunk dude!! THINK ABOUT IT!

[jbiird317]

4 kegs! damn, bye bye suspension! do what i did, get a pickup and fit 7 or 8 kegs haha

[RelliMS3]

I'd say save the money. Maybe a short throw shifter or wheels. I'm the same age as you and we've got plenty of time in front of us to have really powerful cars. Its already fast stock, right now i'm just trying to appreciate how great the car is.

[sfalexi]

I would say (for lack of a better word) pay your car a "tithe". For instance, you make 1200 a month. Assuming you don't have many (any?) bills aside from maybe a cellphone and perhaps helping pay insurance and car payment, take whatever you have left over after bills, and dedicate 10 percent of that for your car mods. For me, I have $1000 or so after bills. So I make sure not to spend more than $100 a month on my car mods. I haven't bought anything in a while, but I'm going to buy something this month, and then wait until Cobb comes out with their STS, and see if it's any better than TWM. And whichever seems to be able to fit me better, will get my couple month's of money.

Alexi

[elderlycoffee]

I know I don't get good pay at all compared to most people. But it's better than what I used to get.

[palerider]

Anyone who says to save their money when theyre 18 is damn crazy. Were all in a hurry to grow up when were that age and its just stupid.

You got your whole life to be responsible, and you only have one summer when you get out of school. You'll remeber the car you had a hell of a lot more than the couple grand you save for "buckling down". I trade my left nut to have that summer back and be that age again.

The main thing is your working hard, going to school, and having fun. Enjoy it. You dont make enough money to worry about saving much right now.

Spend it on your car, girls, and kegs..... just make sure that the kegs and the girls go together. Leave the car for the daytime:)

And keep working hard!!!! Someday you'll make more money and your priorities will change. A work ethic will make you a millionaire in experience.... and that pays... trust me on that one.

[mrlilguy157]

^^^^^ what he said ^^^^^^

[fourthmeal]

I couldn't disagree more, palerider. We as a nation are in serious trouble economically, the LAST thing I would recommend is reckless spending. Its far, FAR worse then shown on any TV show.

Let me ask you this: If you lived in the time of the Great Depression, and just before the market crashed, you knew it would happen,...Would you spend your money so recklessly knowing what was about to happen? I would hope NOT. Because we've been through it before, a lot of indications of the economy now point to a potential depression that may end up equaling or beating the Great Depression itself...heed the warnings and build up a large savings to nest on, because its going to hit like a flippin' hurricane I imagine.

I used to be a spendy guy, with good income (48K/year when I was 18), and I was usually decently well-off. But the latest economic turmoil has hit me and my family so hard that my lack of forward vision and saving plan has left me treading water without a safety rope. Don't let this happen to you, as it can only end badly.

Sorry to rain on a spend parade, but it is the truth, and you can mark my words on a calendar if you want to. We are going to hit rock-bottom very soon, if we don't get the right people in the right places of Government to fix our past failures. We are 9+ TRILLION (with a T) in debt, and that is a shit-load of money. When the bottom falls out from under us because of the massive interest owed on this debt (and we as nation are forced to deal with in instead of sweeping it under the rug), it is going to hit us hard. It would be advantageous, then, to have a nice comfortable savings to land on, if you run into financial trouble.

But, I do like the "tithe" idea, and in the financial planning world, its a great idea. Even at 10%, I think that would be great. Just make your budget solid, and do not at any time pull more money from your main 90%...just make it a rule. There is nothing wrong with doing things for yourself with your own money, but you've got to stay smart about it.

[MidwestSpeed3]

fourthmeal- No disrespect, but you are not a psychic. You are still technically speculating at this point. Yeah there are numerous factors that are pointing towards this happening, but alot of them have been present for a long time. This could just be yet another market correction.

Also, keep in mind that consumers not spending as much complicates the situation. You don't spend, companies don't make sales, their stock price drops, consumers lose money = less to spend. It is a vicious cycle.

I think the best advice here, as with anything in life, is to find a good balance. Save some and spend some. Best of both worlds.

Back on topic a bit more.........Definitely keep the car. It is a perfect college car. I wish I would have had this car for the first 4 years of my college career (and high school for that matter).

[jred321]

a lot of indications of the economy now point to a potential depression that may end up equaling or beating the Great Depression itself...
such as? i've heard rumors of recession but not so far as depression


I used to be a spendy guy, with good income (48K/year when I was 18), and I was usually decently well-off. But the latest economic turmoil has hit me and my family so hard that my lack of forward vision and saving plan has left me treading water without a safety rope. Don't let this happen to you, as it can only end badly.
while clearly you've fallen on hard times, there's a huge difference between someone with a wife and family who presumably owns a house and an 18 year old. he doesn't have debt yet. his income is 100% disposable. nothing is tied up in mortgage/car/children and i'm guessing most american families don't have $1,200 in unaccounted for money at the end of the month. if he was planning on buying a house and starting a family in 5ish years i'd say save save save and get $10-15k in a savings account before thinking about modding a car. from what i gather he's not. saving is good but don't live to save, find a good balance of saving and fun



But, I do like the "tithe" idea, and in the financial planning world, its a great idea. Even at 10%, I think that would be great. Just make your budget solid, and do not at any time pull more money from your main 90%...just make it a rule. There is nothing wrong with doing things for yourself with your own money, but you've got to stay smart about it.
i think 90% at age 18 is a bit much. i say get $5k in the bank (high interest savings) as a rainy day fund then do a 50/50 split, 50% fun things, 50% savings/retirement, but don't dip into that $5k once you get it

[fourthmeal]

No disrespect taken, our voices all deserve to be heard equally (most times :P )

Indeed I am no psychic, but just like Pythagoras believed the earth was round (through mathematics and solid geometry findings) but could not prove it, so too do our best and brightest economists try to see the right answer before it is proven. But, we do know that all signs point to what I'm talking about.

Now, lets let that be the last of dooms-day talk.

Enjoy the car, count your blessings that you've been given such a gift, and budget carefully what you do. I think you'll do great if you can keep your wits about you each payday, and stick to a solid on-paper budget. Don't forget, always pay yourself first (as in, put the intended money for savings in the bank before doing anything else with the money), and you'll stay ahead.

[meha11]

being a little brother myself all i have to say is your parents are ass's if they buy you another new car and give your brother your hand me downs. Does he get you old underwear too?
2 new cars for you and 0 new for your brother is favoritism and thats a no no in my book.

You need to take the lead on this and insist you are perfectly happy with your 1 year old car and that lil bro should be treated in the same manor as yourself.

You havent got a hair on your ass if you dont slap your mama for pulling this $hit.

[dominoy2k1]

lol

[User Name]

being a little brother myself all i have to say is your parents are ass's if they buy you another new car and give your brother your hand me downs. Does he get you old underwear too?
2 new cars for you and 0 new for your brother is favoritism and thats a no no in my book.

You need to take the lead on this and insist you are perfectly happy with your 1 year old car and that lil bro should be treated in the same manor as yourself.

You havent got a hair on your ass if you dont slap your mama for pulling this $hit.

BTDT! My parents bought my older brother 5 different cars, none new but still, and gave me 1 of their old cars. I have had to buy my last 2 cars myself without so much as a co-sign from my parents, fortunately working for a national railway made for a good back up when buying my MS3.

Enjoy the car, mod it to your hearts content, but take fourthmeals advice as well and make sure to save some of that monthly income as well. I modded my second car with reckless abandon and have next to no savings now to show for it.

[ZoomVT]

lol!
nothing wrong with getting hand me downs. what a brat!

you should be appreciative of whats given to you whether its used or new, and whether your brother already used it or not.

[sfalexi]

I disagree with the person who said that if you have no bills then you don't have to save. The whole point of saving is so you don't have to ACCRUE bills in the future, and should emergencies arise, you have something to help you out. no one "plans" for an emergency, and to some lucky folks, they hardly ever, if every need an emergency. But it's nice to have that "assurance".

If you look at financial guides, they all say to have a few months of cash to cover if you lose a job, and to start saving very early so when you decide to retire, you can just relax and travel. I'm doing my best to retire and not have to work at all at 50. Should be doable.

BUT, like I said above, set a "fun money" budget. maybe 300 bucks a month. That should be PLENTY for car, movies, dinners with friends, etc. And talk to some people about how to split up the rest for savings. I went with a roth IRA (although I WISH I had started it at 18 instead of waiting till I was 23), savings account, and mutual fund.

Alexi

[shane02pro5]

Putting money into modding a car is proposterous I tell you!!!

(braindead (inout)

[major error]

I agree w/ fourth...

The present is always the perfect time to exercise fiscal responsibility. How many times have you heard someone say they can't afford to do something? How often is it because of debt or overspending? Everyone wants to get ahead, but very few plan ahead. "I'll get to it eventually..."

I've been there--dug myself a nice deep hole... It's taken me almost 6 years and help from relatives to get to the point where I can jump and see more than just what's above the hole. Getting into financial trouble is easy, getting out without taking the bankruptcy "shortcut" is difficult and requires a lot of discipline and sacrifice.

The advice I got from my financial planner was, "Pay yourself first." It doesn't mean going out an buying the latest shiny thing....it means put something away for the future. It doesn't even have to be a very large sum either, so long as it's done regularly (like monthly or per pay).
After doing that, apply what's left to your expenses & entertainment.

I'd also invest in a program to keep track of your finances (MS Money works well enough...)

[meha11]

ok, seriously saving is good advice but here is why gold is not the best investment, it's been climbing for the last 10 years, history shows it has a tendency for the bottom to fall out, see the 30 year chart, from '82 through '01 would have been a bad investment. I wouldnt put money in it now, there is too much risk, you may be better off putting it all on red, but who knows whats round the corner.

[fourthmeal]

ok, seriously saving is good advice but here is why gold is not the best investment, it's been climbing for the last 10 years, history shows it has a tendency for the bottom to fall out, see the 30 year chart, from '82 through '01 would have been a bad investment. I wouldnt put money in it now, there is too much risk, you may be better off putting it all on red, but who knows whats round the corner.

Ahem...

Any stock is a risk, but I just mentioned one as a semi-sure thing, rather then putting your money in a .com business stock.

But, I think the point has been provided to the OP to save quite a bit and invest early.

[meha11]

Ahem...

lol.



Any stock is a risk, but I just mentioned one as a semi-sure thing, rather then putting your money in a .com business stock.

But, I think the point has been provided to the OP to save quite a bit and invest early.

Agreed

[jred321]

and should emergencies arise, you have something to help you out. no one "plans" for an emergency, and to some lucky folks, they hardly ever, if every need an emergency. But it's nice to have that "assurance".
insurance helps spread the risk so there are really very few actual emergencies nowadays. auto, home, LTD, STD, etc..., all make it so it's tough to have a real emergency. losing a job is not an emergency and if you don't plan for it and are living beyond your means then it's your own fault



If you look at financial guides, they all say to have a few months of cash to cover if you lose a job, and to start saving very early so when you decide to retire, you can just relax and travel.
some say 3-6 months, some 6-12. definitely the way to be. if you look at why they say those things it's basically to cover your bills for when you lose your job and you're looking for work. if he puts in enough to cover his bills it's like $100/month for gas probably so he'll need $300 to cover 3 months. when he's older and on his own he'll need more but he'll also be making a lot more (i hope) so getting that $10-15k in the bank won't take him 2 years but instead a few months

IRAs are great to start for retirement and the earlier the better. i just have trouble with the people telling someone who makes $14,000/year to put $12,000 into savings. it's just not realistic nor is it necessary. at his age if he puts $5,000/year into an IRA, does that for a few years, then continues to contribute more as he works into a 401k, he'll be more than set



I'm doing my best to retire and not have to work at all at 50. Should be doable.
that's a great plan and i wish you luck



BUT, like I said above, set a "fun money" budget. maybe 300 bucks a month. That should be PLENTY for car, movies, dinners with friends, etc. And talk to some people about how to split up the rest for savings. I went with a roth IRA (although I WISH I had started it at 18 instead of waiting till I was 23), savings account, and mutual fund.

i don't disagree that saving and retirement funds are a bad idea and i think only 1 person so far has said they're unnecessary. i disagree on the amount

[jred321]

i've been playing with online retirement calculators and, of course there is a lot that is left to chance, but given how i'm saving it'll be $2-3m by the time i'm 65. i didn't start til i was 22 and actually would contribute more if i didn't have to pay my student loans. point being because of interest the earlier you start the better but 21-22 or however old you are after college is still early and should leave you with plenty to retire with

an interesting chart but it doesn't give ROR. there's another similar one in "the automatic millionaire"

Who Wants to Be A Millionaire?
The key to becoming a millionaire by age 65 is to start saving early!!!
Age Amt set aside per year Years to save Amount at 65
15 $2000 7 $1,020,430
15 $2,000 50 $2,327,934
25 $2,259 40 $1,000,000
35 $6,079 30 $1,000,000
45 $17,459 20 $1,000,000
55 $62,745 10 $1,000,000

[palerider]

The advice in this thread is hilarious. The kids 18 people. If the economy is going to be as bad as fourthmeal says(and maybe thats right).. then money wont be worth a damn anyway. And then you'll be poor, and broke, and trust me...the only thing you'll be grateful for is the time you had living it up the summer you were 18.....

you only get that once.

The couple grand you might save by buckling down and "saving"... aint gonna be worth shit if the economy crashes. We'll all be scrambling one way or the other.

What the poor kid saves will be pointless. If he learns a work ethic... he'll be fine. Even if hes poor in a recession/ depression in the years to come.... he'll be working, eating, and hoping for better times ahead.

And when hes an old elderly man... he'll sit around and talk about the economy, and the summer he was 18.

[ZoomVT]

yeah a good work ethic involves saving your money and not spend it the minute that it touches your hand; it also includes differentiating between needs and wants. keep living the now, who cares about the future, you will have the govt and social security to save you... oh wait... ah nevermind...

[autoxes]

being a little brother myself all i have to say is your parents are ass's if they buy you another new car and give your brother your hand me downs. Does he get you old underwear too?
2 new cars for you and 0 new for your brother is favoritism and thats a no no in my book.

You need to take the lead on this and insist you are perfectly happy with your 1 year old car and that lil bro should be treated in the same manor as yourself.

You havent got a hair on your ass if you dont slap your mama for pulling this $hit.

My parents never gave me SHIT as far as cars go. I've bought both my first AND second cars. So there.

Just FTR, I know a lot of people have bought their own cars, so I'm not looking for recognition at all.

[palerider]

yeah a good work ethic involves saving your money and not spend it the minute that it touches your hand; it also includes differentiating between needs and wants. keep living the now, who cares about the future, you will have the govt and social security to save you... oh wait... ah nevermind...

a good wotk ethic has nothing to do with saving your money. Those are two different things.

Work hard and play hard.... especially when your 18.

If at some point in your early twentys you havent saved a few grand.... and you have a decent job. well then its time to start changing your priorities.

And finally.... blowing 2-3000 on your car, girls, and nice clothes, when your 18 doesnt mean the govenments gonna have to save you when youre 65...lol.

I say maybe SAVE a tithe. 10% is plenty fine to save if you want to save. But if you need that 10% to get laid by that cute girl down the block... and your 18.... well then fuck a tithe too.

[RUMBLEFISH]

Ahem...

Any stock is a risk, but I just mentioned one as a semi-sure thing, rather then putting your money in a .com business stock.

But, I think the point has been provided to the OP to save quite a bit and invest early.


You sir have been doing your homework. Good advice but I know when I was young life would only get better. I would assume that not many on this board went thru the 70's collapse or the 80's market crash but then again ignorence is the markets way of having a correction.

Gold, commodities,utilities, and foreign currencies are now the investments for the forseeable future. We are no longer a mfg based economy but a consumption economy. Wait until the chinese realize our dollars is not worth much then you have 1.3 billion chinese waiting inline to by cheap goods and that country is ready to roar.

I really do hope that I'm wrong in so many ways.

[Mid_Life_Crisis]

I still say that if he is going to end up giving the car to his kid brother he should save the money for two reasons.

1) He can spend it on mods on his next car that theoretically he'll be keeping for himself for a while.

2) His kid brother does not need this car to be faster than it already is when he gets it.

I also think he should take advantage of his situation to build up a nest egg for himself even if he has no intention of keeping it long term. It never hurts to have some "mad money" stashed away. Once he gets out of high school he will have numerous invitations to join the guys on a road trip or a short notice trip to one of those "girls gone wild" locations. Having the money for this kind of stuff stashed away burning a hole in your pocket is never a bad thing.

Live today like it's your last, but plan for tomorrow in case you're wrong.

[palerider]

I also think he should take advantage of his situation to build up a nest egg for himself even if he has no intention of keeping it long term. It never hurts to have some "mad money" stashed away. Once he gets out of high school he will have numerous invitations to join the guys on a road trip or a short notice trip to one of those "girls gone wild" locations. Having the money for this kind of stuff stashed away burning a hole in your pocket is never a bad thing.


LOL... thats great advice too. Especially if college is in the plans. Its alot more fun to have a few bucks in school than to be the broke kid.

It amazes me how much these kids travel these days... Im sure its mostly parents hooking them up.... but some of the best times ever for me were roadtrips "on a budget" in college. Good god great memories!!.... dont ask details though(drunk)

[Mid_Life_Crisis]

Good god great memories!!.... dont ask details though(drunk)

Mostly because you probably don't remember any. One of my favorite lines about that is, "anyone who remembers the 70's wasn't really a part of them."

[xyooj]

i agree. Im in the market for a MS3. Sure they are nice, but do I really need one now? Things that are above the MS3 are. 1. school. 2. house. Atleast for me.

SAVE.

The economy is going to tank, and you're going to want to have a lot of reserve money. It will happen, its just a matter of time and severity.

I went from well-off, high car payments, etc. to now (where I'm about to lose my car, and many other things.) All it took was for my wife to lose her job and not be able to get another. One little thing, and *poof*, suddenly you need to dig through your savings deeply. You're young, and you make $1200/month, or about $14,400 a year! That's not a lot of money in case something goes wrong in your life.

Save, and put your money in stocks like Gold or Silver, "sure things" in the market of today. But definitely spend a bit and have some fun when you have about 6 months' salary saved in the bank...or in your case maybe 10 grand.

[Not Jo3L]

Save your money...unless you think your brother is the best driver in the world then mod it and pass it on to him.

I would not invest into a car that much that would not be your own in the future. Let your brother do the work and get a since of pride in the 3 because its his and he was the one to mod it...this is if you even let it go to him.

I really dont know how kids start out with a mazdaspeed 3 though...unless their parents are super rich. I guess i just live in the ghetto were everyone drives 90's era civics.