firstgear

Watched Paddington. One of the best I have watched after a long time. ?

Good to hear your valuable story. Certainly I have lessons to learn from that. And thanks for your advice at the end as well. I appreciate everyone of you for spending your time in sharing your valuable experiences so that inexperienced ones like me can learn lots of lesson from them.

Valuable advice with inspiring personal experience. Thanks mate.

Well, that sounds scary for me now Thanks for the tips, noted down and will surely follow. Thanks for all of your valuable advises, as soon as I settle the outstanding, surely I will ditch them forever.

As I said my bike lease and CC balance would be finish in 5 months max. I was planning to go for a car only afterwards. One thing I have realized now is that how terrible I am in managing finances.

Thanks for the welcome The reason I thought to go for a car with that amount is because I thought that after paying lease for 5-6 years, I should have to have something valuable at the end that could be considered as an asset.

Yes. I have been working for about 4 years now. My first salary was 20k And I believe the main reason for my lack of savings is these credit cards. I still have about 80k in outstanding balance with 2 banks. So every month I pay about 15k to credit cards in addition to the 20k bike lease. Everyting else is covered from the balance 35k . If everything goes well, in about 5 months I would be able to pay off the outstanding balance in credit cards and bike lease. By then I will have my first kid. Only then I will be able to start to make a saving. The other thing is, I never felt anytime that I need to make a saving nor did anyone advised me to make a saving. So I grew to the habit of spending to zero towards the end of the month.

Good that you brought this up. I will have to immediately check this with our HR. Thanks

Thanks very much mate. Greatly appreciate your beneficial advice. I will follow what you said.

Thanks for the welcome. you are right, that will be difficult. And I would have to have a tight lifestyle until i pay off the lease.

Thanks for your advice mate. Thankfully for the hospital needs, I have insurance from office. 100k for each member. So I am hopeful to manage with that (hoping to combine the 2) when the baby decides to born Nevertheless I understand that I need to seriously start making savings. You are such a baby hater.

Haha funny and realistic advice. Thanks for your input mate. Well absorbed.

Thanks for the welcome. I don't have to purchase land or build house at the moment as my wife already has a house under her name My wife is already pregnant and the next big project coming is related to the baby and after that schooling him/her etc.

Thanks for the advice. Taken note of. My wife is already pregnant I take her sometimes on bike and other times on three wheeler.

<blockquote class='ipsBlockquote'data-author="sathyajithj99" data-cid="274077" data-time="1426084231"><p> 100% agree with what Don said. Would you mind if I ask this 70k salary is only yours or your and wife's combined? If its not and if your wife gets a salary too then I think you can manage to buy a descent car.</p></blockquote> It's mine only. And my wife doesn't do a job. ?

Thanks for both of yours advises. I think this is what I need to do now without rushing.

After watching birdman I felt like i wasted a couple of hours of my life for nothing. May be I didn't grasp the plot. But it was such a terrible movie for me.

We are not brand new married couple. It's almost an year now The things you mentioned are pretty much the same concerns which prompted me to put the question. Thanks for you advice on saving. Will take note of it.

I will not be using the car for daily commute. It will only be used on weekends. Rougly 400km max every month. Sometimes I wonder that traveling by budget taxi is for more feasible than buying a car on lease with a tight commitment. For example, with 6k monthly I could visit all the places I need to visit with my family on a threewheeler, than paying min 25k monthly for the same visits to buy a car. But I don't know how that profits in the long term. BTW, I 100% agree with what you said on SL mentality.

After going through the forum extensively, I am kind of immune to Maruti. I have mocked several of my colleagues for owning Marutis. No offense to anyone . Even the forum doesn't have a dedicated section for the Maruti brand . My current mentality is either 'non-Indian car or nor car at all'*. *subject to unconditional changes

Thanks for your tip. At the moment I am not in a definite need of a car. I ride to office by bike and take my wife too on the bike occasionally. What I am concerned about is whether it would get more difficult for me to own a vehicle down the years to come after I get children.

Thanks for the welcome and appreciate your words. I am kind of used to manage with minus 25k on my current salary, as I have been paying 20k monthly for an year now for my bike. With regards to Maruti Alto, I see your point of reliability and less maintenance and it definitely makes sense. But with the kind of tight commitment I would need to get into, I expect a better outcome/investment after 6-7 years.

Geetings to everyone. First up, thanks admin for validating my account; being waiting endlessly. Going to my question next, please bear with me if I sound odd. I know my question is very personal but I will try to be more detailed so that some of you might be able to give me your opinion based on your experience and general feelings. Since my pseudonym is anonymous, I feel OK in proceeding. Lately this idea of buying a car has been buzzing me. Mainly because of friends and family members who are suggesting me to buy one as I have just got married. But I am not sure if I am fit for the buy in terms of financial capacity (it's been more than a decade since my immediate family owned a car and I don't have a good knowledge about the expenses coming along with owning a one). If I am going for a car, I think I would go for something below Rs. 1.4 m and for that budget what is available for my taste is Perodua Kelisa or Ford Laser 1998 among other options. But the problem is, at the moment I have Rs. 70k take home (with at least 8k annual increment) and Rs.0.00 savings . Do the majority of the people here think I can be an owner of a car? If NO, then problem solved; see you all in couple of years If YES, what are the ways of getting a full lease for a Rs. 1.4m car? I can only go for something like Rs. 25k per month installment. With the balance Rs. 45k could I be able to lead a decent life? (At the moment I don't have house rents, utility bills, schooling fee for children etc and only have the expenses of food and cloth for about 3 persons) My monthly run would be less than 500km. Awaiting your replies. Thanks FG.