I'm 38 Make about $30,000 a year and want to take drastic measures to save and invest money? I want to reduce my total expensed to under $600.00 a month and save and invest the rest.
I'm currently paying $450.00 apartment rent not including utilities.
I don't mind living in small places....
Am I foolish....or smart...? What do you think?
I live in Tucson, AZ.
2006-12-05 21:36:11 · 5 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
I own my own barber shop business in Tucson...
2006-12-05 22:01:57 · update #1
You should do what makes you happy. If there is no woman in your life, it sounds very reasonble to me and you apparently sounds like you have a plan. Be forewarned that some women may require additonal creature comforts. Good Luck!
2006-12-05 21:47:44 · answer #1 · answered by Brand X 2 · 0⤊ 0⤋
well theres lots to this but it is possible by all means. First off $600 a month is really doubtful unless: 1. u boondock all the time or stay on someones land that won't charge u 2. u cut ur 2nd biggest expence by not traveling (fuel prices u know). Ok, renting lots can go anywhere from say $20 nighty to I suppose $100 nighty depending on the time of year & where ur staying. Exp. - beach front in say Myrtle Beach in June = about $70 nighty but in Nov. maybe $25 nighty. As far as boondocking, one exp. is staying in walmart parking lots BUT thats temperary & wouldn't consist of setting out the grill or raising the porch etc. Walmart doesn't mind a couple night say nonchalantly. Ur probable biggest problem is earning a living especially if ur mobile - town to town. theres a bunch of websites dedicated to this - workers on wheels & can't remember the others but theres plenty. If u have some background in Computers then maybe something on the net to earn a living - be creative. Also the cool thing besides seeing so much in the US is that if u don't like ur neighbors etc. u just pack up & ur gone, if it's bad weather go south, if u awake & decide, I wanna see the beach today, pack it up & roll em out - mntns., no problemo. Theres also many units to choose from - Hybrids, 5th wheels, travel trailers, class A's etc. good luck man
2006-12-05 22:34:05 · answer #2 · answered by Youngblood 2 · 0⤊ 0⤋
How big's the motor home? Is it big enough for you? Will you be using it as transportation as well? Because gas (as you know) is pretty expensive now. How will you have electricity? Will it be running from a generator (more gas) or will you be plugging in somewhere?
What are you going to invest in? Real estate is a great choice and it's a buyer's market right now. I would say live in the motor home if it's cost effective for now. Once you have enough money for a down payment, buy real estate!
2006-12-05 21:45:46 · answer #3 · answered by Renee C 4 · 0⤊ 0⤋
If you're single work a lot and don't spend much time at home I'd say go for it. Make sure you have good insurance and working smoke detector in case of fires (a fire would totally gut a motor/mobile home.) Save money to invest in a house later when you get married have a family.
2006-12-05 21:47:45 · answer #4 · answered by flfox 3 · 0⤊ 0⤋
What's it going to cost for payments on the motorhome? Probably more than $450/mo unless you buy a real junker.
What's it going to cost to feed it? 5MPG at $2.50/gal. That will add up quickly.
What's it going to cost to park it? You can't just park it on the street. You'll need utility hookups -- water, sewer, electric, etc. Don't forget bottled gas for heat and cooking, much more expensive than natural gas.
My grandparents did the RV thing for many years. Not to save $$$ -- it would have been much cheaper to stay put in one place -- but to see the country. Compared to airfares and hotels, it was cheaper but was many times more expensive than just staying put.
If you're OK with small spaces, get an "efficiency" apartment.
2006-12-05 22:43:13 · answer #5 · answered by Bostonian In MO 7 · 0⤊ 0⤋