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How long will it take me to clear 10k debt?

Discussion in 'Business, Careers & Education' started by 1up, Jul 14, 2010.

  1. 1up

    1up Senior member

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    Vancouver
    Get a used/last years model Subaru impreza hatch/outback then. AWD means you can drive in icy weather, and they're quite spacious.

    But I'm sure you have a million justifications regarding why you want an SUV, it's your money in the end.


    Yeah, definitely an option, but I've just always wanted an SUV for the size capacity (I live close to the mountains so camping and snowboarding are always on the agenda). Guess I've got a few more months to keep searching!
     
  2. Toronto34

    Toronto34 Senior member

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    A week trading in [​IMG] Forex.
     
  3. Ace Rimmer

    Ace Rimmer Senior member

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    A civic with winter snow tires (blizzaks or something) should be fine. I drove in upstate NY winters for 4 years with a FWD car on winter tires and never once felt unsafe. The SUV would be nice for hauling people/stuff for trips or whatever though.

    Agreed, that Civic will be fine. My family had a Civic when I was growing up and we had no issues in winter.

    Much of winter driving is skill and having proper tires. I don't know why some people have thirty different shoes but they refuse to get snow tires. People wear different shoes for different occasions. Cars are no different.
     
  4. 1up

    1up Senior member

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    Agreed, that Civic will be fine. My family had a Civic when I was growing up and we had no issues in winter.

    Much of winter driving is skill and having proper tires. I don't know why some people have thirty different shoes but they refuse to get snow tires. People wear different shoes for different occasions. Cars are no different.


    It's not necessarily for winter driving in the city though, I work for an onshore drilling company (no bp oil spill), so I'll be required to drive out to some remote locations with varied terrain (hence the need for an SUV).
     
  5. otc

    otc Senior member

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    A week trading in [​IMG] Forex.

    He was trying to get rid of the debt, not make 10k new debt.

    It's not necessarily for winter driving in the city though, I work for an onshore drilling company (no bp oil spill), so I'll be required to drive out to some remote locations with varied terrain (hence the need for an SUV).

    I would wager you still can do an alright job in a civic. Modern cars can handle most terrain just fine. If they expect you to be driving over ungraded terrain with 6" rocks...they will probably be providing you a vehicle.
     
  6. sho'nuff

    sho'nuff Senior member

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    $850 a month for a car/insurance/gas is pretty steep for a recent grad..

    that is really steep. 850 for just car stuff a month for one person??

    we dont even pay half that.

    $175 total a month for 150g/300g full coverage car insurance for two cars.
    $212 total a month on gas ($3/gal) for two cars (used to be).
    cars paid off many years ago (used to be about 600 bux total for payments on both cars).

    now i take the vanpool to work (van is fully subsidized by my work) so all i have to pay is gas:
    now my share of gas is only $37 a month so with two cars it's about

    $115 a month on gas for two cars now
     
  7. Sherlock

    Sherlock Senior member

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    If you reduced your car expenses by half and put the other half into low risk mutual funds each month, you'd retire a millionaire.

     
  8. clee1982

    clee1982 Senior member

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    pay down your credit card first, 12% is bad in the grand scheme of things. With your income, you can get rid off the credit card bill in less than 6 month.

    you said yot a civic for free, that should do for even up till the beginning of winter, FWD in winter is actually not that horrible. Personally if I were you I would suck it up and pay all the debt down within a year, thought that's just my personal preference.
     
  9. dtmt

    dtmt Senior member

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    If you reduced your car expenses by half and put the other half into low risk mutual funds each month, you'd retire a millionaire.
    Without clicking the link I'm gonna go ahead and wager a guess that it's Dave Ramsey, amirite? Anyway, in the post financial crisis era I don't think dumping everything into index funds will be the safe bet it was a generation or so ago. Consider that the Nikkei has lost 75% of it's value since 1990 when Japan's bubble burst.
     

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