I am considering buying a new car but don't want to cut myself short every month as far as disposable income is concerned. I know that it depends on the person, but how much of your net monthly income should you have left over after all of your bills have been paid? Dollar amount or percentage answer will do.
2007-03-14 06:45:51 · 2 answers · asked by Stimey 1 in Business & Finance ➔ Personal Finance
I think it's around 40%. That's supposed to include house, transport, food, bills, etc.
Of course in today's day and age with everyone in debt that sounds really low.
Do a lot of research on car models, think of the opportunity cost of buying new vs used, talk to your bank about getting a loan from them vs the dealership to cut back on interest. Just do your homework and the answer will come to you. Will a car increase your quality of life or do you just want a shiny, new car? Can you afford what's most important to you? Just a couple things to consider.
2007-03-14 07:20:01 · answer #1 · answered by Principessa 5 · 0⤊ 0⤋
I would say after all is paid at least 500 left over and keep at least 2000 in the bank for emergengcy.
2007-03-14 13:51:48 · answer #2 · answered by userx 2 · 0⤊ 0⤋