Even in adulthood - can buy a car a difficult thing to balance. But if you are a teenager, it is even more difficult.
They work a minimum wage job - part time while you are in school - and you know that a car costing thousands (plus insurance, gas and other car expenses). How can you budget for such a large expense?
Here are some tips:
Create a budget
First things first: you will never withdraw able to keep their savings for a car (or anything else in life), if you have a budget in place. Keeping track of your income and expenses can seem a little boring, but you know exactly where your money is going each month, especially now, when you have not much of it.
Set a spreadsheet program or budget allows you to record the amount of money you make and where it goes. (Some applications do this automatically for you if your credit card and bank details.) Account for all by the candy bars 99 cents, which led to the grocery store.
Then configure the games, how much you spend per month for each zone. Large areas should be included, food, entertainment and of course your car. (More information on the amount set aside for a moment.) Now you see where all this is happening, you can keep your spending on track and provide measures to ensure that meet their objectives categories.
Thoughts economical
As frugal is a habit that is to serve you well for the rest of your life, and save for a car is a good reason to start.
Another look at the budget that you have created, and try ways to reduce further. Instead of going to the mall or to the movies every weekend, you can less expensive ways to have fun, as can be found with friends for a movie night or position of a local park or on the beach regularly. When you meet for coffee, whipped cream imagination creating $ 4 each time to get you, or could do with a coffee at home and still have the same conversation with your friends?
You do not have much money coming in that time to do so, what you put as much as possible.
Buy Used
Besides the fact that the new cars are much more expensive, it may be difficult to finance a new car as a teenager, unless their parents sign for them together. (This is an option, but you're still paying more each month if you buy used.)
You are much better off in cash for a car. And that means that you have a used car ... probably buy a very used car.
Note that many people have stories less-than imagination "first car", and there's a reason for that. In this phase of your life, you do not really need a lot of options, such as a large sound system, leather seats and a rearview camera. You just need something safe and reliable that you get from point A to point B.
Browse the classified ads or search Craigslist to get an idea of how much car costs also used safely get (good condition 16 Camry with 170,000 miles is only $ 1500 by Kelley Blue Book) still works. Plan to save for this goal.
You're friends do not care that your "new" car has some miles on the clock, you had just won impressed that you have your own set of wheels.
In search of more lucrative work
One last tip: It is not necessary to take a minimum wage job, even if you are still a teenager. You can make your job at minimum wage as a backup to keep stable source of regular income. But in his spare time, looking for better paying gigs.
Some ideas:
- Tutors students in middle school math, science, English or a foreign language
- Keep children - many parents pay more than the minimum wage, especially if you take care of more children
- Mowing the lawn, leaves, shoveling snow
- Learn some carpentry or repair of basic skills and a job with a construction crew
Just because you is not a teenager, you have to earn only $ 7 or $ 8 per hour. If you want to increase your income by 12 - $ 15 per hour, and save more than you earn, you will be on the right way to pay for a car in no time.
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