How do you afford it?

[leddzepp]

First and foremost, get an education. The more you learn, the more you earn. Live below your means. NO credit cards. I know it is easier said than done. Once you have steady employment (a career), buy a house with 5 miles of your employer so that you can ride a bike to work and not waste your money on commuter gasoline. You will also get a great cardio workout. Refinance to a 15 yr mortgage and pay it off. This will free up TONS of money for you each month, and when you retire, regardless of the state of the economy, you will own the house, and any money made selling it is profit. Eat at home...eating out costs a LOT of money, and the food usually sucks and is horrible for you. Avoid car payments. New cars depriciate in value with every breath you take. If you need a reliable daily driver, buy a 10 yr old Honda. They last forever, are great on gas, cheap insurance, and hold their resale value. You will be suprised at how much money you will have for your truck(s) then. Do not rely exclusively on a 401k retirement plan. Yes, contribute to it, but also tuck away cold, hard available cash in a savings account. It may not earn as much interest as a defined savings contribution plan can, BUT you will NEVER lose money, and it is FDIC insured. I am 34 yrs old, with 3 yrs left to pay on my house, looking at retirement when I am 50. Then I can play truck all I want!!!

[68 short step]

m-f 8-5 aircraft mechanic
sat-sun exotic dancer

[49m]

I go to the junk yard and buy parts for less than they are worth and then sell them on ebay. And I work at a body shop after school

[65chevy4x4]

No house payments---No car or truck payments----No bills but cheap utilitys-and insurance---No wife and kids---Equal to a big ALLOWANCE.

[gangforward]

This is a great post. For me it was all about investing in yourself - education, education, education. I sold a cherry 1969 Z28 camaro to go back to school. I miss that car, but it was a great choice for my life.

Next - live within your means - along with that is being poor in school taught me a lot about wants and needs. Most "needs" are not that - they are wants. - I look at many now who have huge houses to heat and pay for, drive SUV's - and drive 2 hours to work so "they could afford the big house" And they can't sell he house or car.

As Toby Keith says "How do you like me now?" - They're stuck.

Lastly - I'd add this. In 1989 I made the leap in going to business for myself. I was tired of others making a ton of money off my work. It wasn't easy, and it took 10 years to get back to what I was making before I left - but it was another education, and now I make much more than I ever would have with a "job."

So if you have the chance - own what you do. Most of all to the younger members "STAY IN SCHOOL!"

[straitnate14]

The army... it kinda all fell together perfect got my truck with the money I got from AIT and Basic and, then the bonus came I bought a blower, locker, tires, shift kit, new front suspension, then I got a job full time for the national gaurd working on on helicopters, I'm 19, practily no expenses, I make $20+ an hour you can bet that my truck comes first of anything I do and Thats how it will stay until I get deployed this fall and you can bet that the ups man is going to replace me as a son he will be at my house so much

[68,69 K20]

Straight up hard work pays for my trucks....

[babyJay]

I'm an electronics tech at Ball State University in Muncie Indiana. I specialize in hardwired fire alarm system installation/repair/maintenance. My shop also takes care of all the CCTV surveillance systems, card access, audio systems, security alarms, and fiber optic cable infrastructure for University Computing Services. We have the #1 fiber optic network in the country, and just keep winning awards for innovation and technology. Our state closed the fiscal year with a 2 billion dollar surplus, a feat no surrounding state can achieve.

To make a long story short, I'm a state employee. I make just short of $25 an hour. I grossed almost $6K just in overtime pay last year. My wife is also an employee of the University, but makes a little less than me. Our mortgage is about $40K on a 15 year note with a home valued at over $100K. We owe $10K on a personal loan we built the garage with, but other than that we have everything we need for our children and us to survive.

My dad once told me that I would never be where I wanted to be until I was 40, no matter how hard I worked, or wished. Here I am, 1 year and 10 months away, and I think I'm exactly where I need to be.

All our vehicles are paid for, and that helps tremendously....

Go to college, and work at one if you can...

[ccd3]

Learn how to play drums and get in a band that makes money.

[leddzepp]

If you are in a field where you cannot go into business for yourself, get to the highest paid hourly position that you can. Do not take a salaried (management) position, or you just sold your life to your employer...no more overtime (well, a LOT more overtime, just not paid for it), and a LOT more headaches to boot, leaving you with no time to work on your truck.

[70cst]

Well like some of the guys on here I'm an old geezer. I've had time to save my $$$ and invest it wisely over the years. I was able to get a two year degree so I was fortunate to get into industrial sales which has worked out for me. I now have two occupations...#1) I am a Sales Mgr./Sale type person selling welding supplies, #2) I sort of talk about "life Insurance" or some might say "fire insurance" on Sundays. Some of my $$$ to complete my 70cst transformation will come from selling my 99 4x4 TRD Toco with 57,000 miles. When my truck gets out of the body shop my Toco goes on the auction block. I bought my truck about eight years ago so I have been buying parts getting ready for the day my truck would go to the body shop. The day I get my wheel chair 70cstjr will get the pink slip for my truck but not a day before. That's my story and I'm sticking with it.

[unreconstructed1]

well, for me it's a balancing act. back when I was single, If I needed a new part, I'd go with one less bag of frozen burritos for supper.

now that I'm married, its a little different. up until a month ago, I made right at 15.00 an hour, and up until a few months before that, I worked an insane amount of overtime.

now that I'm unemployed, my truck suffers... family first.

once I get another job (looks like I'll have to take about a 4-5 dollar pay cut) I'll have to do like I did a long while back. You can actually make decent spare cash by hauling cars to teh scrap yard. If prices are down, take the more common parts off ( pwr steering pump, alternator, carb, etc.) and sell them on the side. take teh engines out of all the hondas you can find... them boys'll pay out the nose for teh b- series engines....

odd jobs on teh weekends...

[LockDoc]

-
Simple.... Work hard, Pay as you go (no credit cards), & Live within your means.

Now that I'm retired my goal is not to see how much money I can save, my goal is to see how much money I can spend....

Oh, and it helps that I do all of my own work too.

I forgot to add that I don't build show vehicles, just drivers...

LockDoc

[krue]

www.daveramsey.com is a good resource no matter what your age or resources. My truck is taking a back seat to us saving to build a house for cash, but when the house is done I will own a fine truck.

[tcb-1]

Krue,
when I was posting this afternoon on this subject, I forgot to mention you and Dave Ramsey.

Yes, he is infectious, and right. Congrats on living debt free. Nce isn't it?!

[BurnerBrown]

this is a great post. one of the reasons i love my old beat up truck is because it is just that. Where I live every idiot drives a huge suv or very expensive sports luxury sedan - whatever that is. sure some people can afford it, but most are just playin keep up with the neighbors. my truck is 40 years old, unique - especially in rustylvania, saves me tons of money because i use it all the time, and oh yeah, long since paid for. when people remark about my truck whether good or bad, i often tell them I only have a few more lease paymetns, as a joke.

live within your means is the number one factor.

don't own a 67-72 because you want a super nice one to impress everyone, own it because its the best looking truck every made, and YOU thinks its cool. well 67-68 really. and only spend what you can afford to spend just pick away at it.

[krue]

Originally Posted by tcb-1

Krue,
when I was posting this afternoon on this subject, I forgot to mention you and Dave Ramsey.

Yes, he is infectious, and right. Congrats on living debt free. Nce isn't it?!

Yes it is, but my wife is on my case to save up and build a house so I gotta stay gazelle intense. Working 36 hours of o/t this WEEKEND, just so I can have a little money to play with.

[boundstaffpress]

I sell artwork. Small and affordable prints add up in my paypal account. My wife says I can spend what I make on what I want. I keep her happy with occasional jewelry, etc.

You'll notice that I don't have a show truck.

Cheers for Dave Ramsey!!

[68shortstep]

I'm a business owner / full-time real estate agent, & real estate Appraiser.

Contrary to popular opinion, it IS NOT a career that's about riding around all day in a big car & just cashing really big checks.

Not complaining - I do it by choice, but I average about 65 - 80 hours a week, and about $ 6 - 800 a month gasoline bill. I make a pretty-good living doing it, but it's tough. Especially in this down-market.

Doesn't leave much time for truck driving & fun stuff.

[Pont406]

All I have is a house payment, no other depts. Give it some time. I also found myself paying twice for some stuff. Now I think hard before buying something and paying for it twice. Like spending money on a set of cast iron heads and 2 years later buying alum heads.

[clay68c10]

The money you don't spend on BS is more you can save for your ride or house or kids or whatever. I see guys at work eat out every day for lunch and am amazed when they ***** about how they can't afford things. It's just a matter of tracking what/where you spend. I'd rather buy something tangible than a crappy meal at the burger joint.

[2wd73blazer]

I am not going to knock college. I put my wife through it. She came out with a masters degree in education and makes about half the salary I do as a chemical operator. We should really pay teachers more. I need more truck parts.

[dieselarmy13]

I married a hot, old chick that makes a lot more money than me.

[70C10Step]

I own a 65 fastback, 66 fastback, 89 Saleen Convertible, 90 LX 5.0 Coupe, 2006 Lincoln Navigator, 2002 F150 SuperCrew and my project trucks are a 1960 F100 and 1970 C-10. All my care I have bought while serving in the military. I have gotten some good deals. Wife and I are blessed to have good jobs and we just bought our first home. She like cars also. I only have her navigator to pay for, the rest is pad for... I am actually shopping a c-20 to replace the F-100.

[72lb4x4]

A lot of pretty funny, and a lot of good advice. Not sure I agree completely about everything, but...

The truck is a hobby/toy, not a need. Therefore the money spent on it is the last few pennies that are available. Then again, I troll the scrap yards for the cheapest parts so I don't spend much on the truck. My labor is counted as free.

At the same time, if someone doesn't have a 401k or other retirement plan set up, they should, regardless of age. Similarly, you, me, whoever, should be saving something every paycheck, regardless of how little and investing it. Finally, there should be a rainy day fund of cash in the bank for daily disasters that should be added to until you (me and everybody) has cash in short term funds to pay 3-6 months expenses (that should be 6-12 but..,).

The above sounds difficult, but it really isn't. start small and work your way up.

Really, if the truck is a DD, billet parts aren't needed. Good brakes, etc. are.