how can a young couple on minimal full time wage afford immediately 2 cars they need for work

Discussion in 'Money Management & Banking' started by justine77, 21st Nov, 2020.

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  1. MB18

    MB18 Well-Known Member

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    Is Mary's inability to see the situation a symptom of a much deeper psychological issue or insecurity rather than mere financial ineptitude?

    Money doesnt solve money problems.
     
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  2. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Getting a loan over 10 years is madness and will impact getting a mortgage for a long time and I don't believe anyone would actually give them a car loan with a duration that long. Most car loans are 3, maybe 5 yrs in length.
     
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  3. Scott No Mates

    Scott No Mates Well-Known Member

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    Buy Mary a shiny 2nd hand car & Tom can have a clapped out beast.
     
  4. Stoffo

    Stoffo Well-Known Member

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    Tell her she can have a near new car today, but it will be the car she has to keep FOREVER :p
    Or, she can have an older car for a few years, then "upgrade" to a not so older car in a few years, then in a few years after that upgrade to a Range Rover Sport *when tbe house is paid off ;)
    Watch her attitude change from short term gratification to longer term savings goals :D
     
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  5. justine77

    justine77 Well-Known Member

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    thank you. thats the info i needed i'm grateful to all responsed
    i dont know why she is how she is
    or if it could be changed eg through hypnotism or therapy. , i do know several people from deprived poor backgrounds who feel they need everything new etc , expensive cars, holidays food outings and they end up with nothing.
    i see many not shifting at all in their fussy expensive stance and their partners suffering so much.
    I dont know how much she would shift at all in anything in the future. I know she was in the past cooperating with looking at second hand furniture but they bought new in the end. i know that both of them fear the future knowing they differ financially and its stressful for each of them.
     
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  6. justine77

    justine77 Well-Known Member

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    'Tell her she can have a near new car today, but it will be the car she has to keep FOREVER :p
    Or, she can have an older car for a few years, then "upgrade" to a not so older car in a few years, then in a few years after that upgrade to a Range Rover Sport *when tbe house is paid off ;)
    Watch her attitude change from short term gratification to longer term savings goals :D'

    stoffo thats interesting. i actually feel if she got a few year old one thats already a compromise to leasing a new one endlessly
    but NOT to tell her that she has to keep it forever, let that just happen organically because hopefully then she gradually gets used to living with an older car while if you told her now you might not get the response you want.
     
  7. justine77

    justine77 Well-Known Member

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    scott she wont let him buy her a few year old one and him an older one. shes embarrassed of any of them driving an older one. i hope if she has a few year old one, then shell gradually get used to having older and older good cars

    Buy Mary a shiny 2nd hand car & Tom can have a clapped out beast

    she wont let either of them have old good cars. shes ' embarrassed' she values fancy not plain. at the moment
     
  8. MB18

    MB18 Well-Known Member

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    I doubt anything is going to change as it doesnt sound as though she wants it to.

    I suspect that as the relationship 'ages' she will up and leave for someone who can offer her the material validation and shininess she desires.
     
  9. Stoffo

    Stoffo Well-Known Member

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    Based on all your response's so far @justine77
    Tell Tom I will buy him some Michael Jordan Reebok's if he agree's to use them to "RUN AWAY" :cool:
     
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  10. justine77

    justine77 Well-Known Member

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    Y es i hear what you all are saying.
     
  11. justine77

    justine77 Well-Known Member

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    i wonder if there is a way to bring some shifts which would definitely involve commending her for anything possible
    shes a very hard worker
    very talented in many ways, great with children, great homemaker/ cook really like a magician what she daily whips up as if its nothing to her
    shes supported herself from a teenage age all these years
    she was open to buying second hand couches in the past though currently she says she wont want to in future b ut i think if any headway is ever going to be made it will need focusing on strenghts commending her for strengths
    she has been talking about ways she could earn even while having children which is another thing to commend her for.

    i dont know if he keeps doing actual figures budgets shows her sums numbers patiently clearly regularly if she might shift.
    i dont know if talking to her about her values or past and the impact it can have eg making debts and struggle for a lifetime will help

    what mb18 said that it wont change and she'll end up at a later point leaving i'm sure also could be true at different points . its all unknown and a worry for both of how they will work things out
    skater i wish everyone going through similar for decades was a book report and not real people. as one of the posters wrote they know so many marriages most that have this huge difference and struggle.
     
  12. spludgey

    spludgey Well-Known Member

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    People that buy a $40k car on minimum wage will likely always struggle with money and won't become financially independent.
     
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  13. Ryan23

    Ryan23 Well-Known Member

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    I’m going to take a wild guess that Tom is your son and Mary is your daughter in law (or similar relationship). If so, be aware you may not be getting the full story if it is just coming from one side..Maybe Tom is over exaggerated some things about Mary to not disappoint you. Maybe Tom actually wants a new car but is concern about what you think so is blaming it on Mary. I could be wrong, but my point is there are always two sides to every story and sometimes its best to let the couple figure it out for themselves, they’re both adults at the end of the day.
     
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  14. Stoffo

    Stoffo Well-Known Member

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    They both have full time jobs, so each earn a minimum wage of $753.80 per week, ao thats over $1,500pw household income........
    If they aren't managing on that then its time to call mybudget !

    Or maybe @justine77 you could give them a budget example showing how much they could save in 6 months toward a near new car (or house deposit), then they could draw up their own ?
    Working toward a goal is better than just working ;)
     
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  15. skater

    skater Well-Known Member

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    The answer for the car situation is to pay cash. Never take a loan for a car. We've always had old cars, because, to me, a car does not define you. It's a means of getting around, that's all. In fact, my own car right now, as a retiree, living comfortably off of my investments is a 2002 Daihatsu Terios, and I love it. Hubby keeps wanting me to get a new one, but this does me just fine. I could easily afford to spend a lot of money on a nice car, but I'd rather keep what I've got.

    And I'll just note for you @justine77, that we paid cash for the last house we bought, so cash isn't the issue here. It's all about mindset.
     
    Last edited: 22nd Nov, 2020
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  16. Cousinit

    Cousinit Well-Known Member

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    I agree with this. I get around in my old 2000 model landcruiser ute which has cobwebs and is rattly and trucky to drive. Any day of the week i could go in and buy a range rover sport and pay cash but i just don't see any value or pleasure in doing so. Just end up being someone else's asset and a modern day slave:confused:
     
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  17. Cousinit

    Cousinit Well-Known Member

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    Should Tom keep his assets totally separate from Mary's? Separate bank accounts etc.

    Arguments about money are just the worst.
     
  18. justine77

    justine77 Well-Known Member

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    yesSkater thanks. i'm very well aware re all you say re not taking loans for cars that devaluate that thats bad debt.. They have only enough cash for ONE older corolla, not two older corollas but they need 2 cars asap. one older car on a loan would be some 6000 or so so not as bad as 19000



    its hard for me.
    they've asked me for advice .
    i dont feel i can completely let them drown in the dark. Tom works 6 days a week, studies and is applying for higher paid jobs and having job interviews. So i have gone over and over the different scenarios so they have some more info and arent completely making big decisions blindly.
    The best advice also is to go over car and housing choices and budget with a good financial adviser, together or if need be alone, and to be loving how they talk and listen to each other to avoid fights, and accept differences without anger criticism judgement, but to try to patiently explain a few times how they feel and why with actual numbers and facts of consequences and budget.

    spludgy its not one 40000 car
    its 2 x few year old corrollas though his preference would be 2x10 year old corollas for 6000 or so each which is closer to what they can afford
     
    Last edited: 22nd Nov, 2020
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  19. justine77

    justine77 Well-Known Member

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    i was just reading budgetting hints online
    one said ' adjust your habits'
    i'm unsure how much someone who has a culture of leasing new cars, renting, spending on expensive entertainment , and has good taste in everything and likes new everything, can shift to have common goals and value saving, and home ownership.
    .
    i'm unsure how much that culture can change. I've read articles of spenders becoming savers, but also re marriages where one is a spender and one is a saver and they never change, they butt heads as nicely as possible and focus on strengths and look for solutions but its a long term ongoing challenge . I see it with many people around me, friends and relatives.
     
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  20. Cousinit

    Cousinit Well-Known Member

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    Yes it is an on going challenge for sure. Maintaining a good relationship takes constant effort and I think most couples have friction with managing the house money. If a young person has grown up in a household with no focus on money management then no wonder they lose their way later on.
     

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