How to spend my paycheck once I graduate and get a job?

[THClord]

I'll earn about $4000 a month after taxes after I graduate.
I have no loans, or special expenditures so all that money will be mine. :D

I'm probably gonna buy a mazda3 speed for $22k right away. It'll be like a 3 year loan or something. That comes to $700 a month.

I'm also gonna need to rent an apartment, probably like $1k a month.

Bills + food = $600 a month

Insurance + gas = $200 a month

Left with: $1500 a month for spending on fun stuff hehe

How to spend that $1500 a month?

[dackst]

Sack some away for a rainy day. Get a 401K or a retirement account or something. I'd spend a chunk of the rest on a sweet digital projector and, depending on where you are, starting a grow room.

[dannyboy420]

Not to sound like an old fart (I'm only 30), but you don't mention in your list putting money away.

You're going to be pissed at yourself if you have no money set aside and 10 or 15 years. Trust me.

Invest as much as you can in a 401k or retirement account. If you socked away $1000, and played with $500 a month, you'd have fun and be really happy down the road. Also consider putting some of the money in a CD or other investment package -- in a few years you'll be able to put a down payment on a house.

[cannabis campbell]

Well most people are probably gonna say spend it on weed but yeah if thats what makes you happy then spend it on that but you should definately make sure you save save and save remember everythings about money!

[Lankan Lion]

You're probably gonna need a bed and a couple of couches or something. You'd be surprised by how much you spend during the first few months in a new place on random shit that you've always taken for granted.

[Smokez]

Yep, save. You will need money saved up for those rainy days. Also save to buy a place unless you want to rent for the rest of your career. Furnitures, electronics, and the ocational detergents, laundry, clothes, car maintenance. Plus The Mazda speed is close to $30,000 after tax and other fees. It's maybe $28000. But you will need to save. But it's your money spend as you please. You know you want to spend about $200 a month on some good herbs.

[birdgirl73]

Invest it. I don't know how old you are, but if you were to put a good share of that $1500 a month away in some sort of safe investment vehicle and just keep adding to it and letting it grow, you'd have a great little nest egg. "A penny saved is a penny earned."

[Mohksha]

definitely wait to buy that sweet ass car. i would wait for 2 months cause everytime I move, I have an assload of expenses that I didn't expect. and SAVE!!! put away at least 5k per year into a RothIRA. have it drawn directly from your check so that you don't have to worry about accidentally spending it.

[Gothen]

I just received my loan check from my college for 5200 bucks. I immediately started a savings account, with checking added on, I then took out all of it but 950.

This 950 was for washer and dryer, and to pay off my cable and internet for however long it lasts. Not even going to touch this money.

I then took another 800 off the top for me to buy a PS3 and some games and a controller.

The rest I paid off bills. My one credit card, my rent for the next 6 months, a few bills that needed to get paid, etc etc. Now I'm back even. I've got mostly everything taken care of.

Feels good. +)

[Bbaakkeerr]

I just received my loan check from my college for 5200 bucks. I immediately started a savings account, with checking added on, I then took out all of it but 950.

This 950 was for washer and dryer, and to pay off my cable and internet for however long it lasts. Not even going to touch this money.

I then took another 800 off the top for me to buy a PS3 and some games and a controller.

The rest I paid off bills. My one credit card, my rent for the next 6 months, a few bills that needed to get paid, etc etc. Now I'm back even. I've got mostly everything taken care of.

Feels good. +)

haha, i was going to say buy a 360 an HDTV and halo 3 and then just buy mad nugget :jointsmile:

[toozlah]

Throw that shit in the bank, son! Less weed soon means more weed later!

[Nochowderforyou]

Save your money! You can spend a bit here and there, but don't commit all of your cash to car payments and shit. Trust me, you want to put away cash every paycheque.

I made the mistake of not doing that, at all, and now, at age 25, I am now finally saving because I know one day, I want to retire at a decent age. I want to get a house eventually and not be stuck living in an apartment forever. I know one day I may and want to have kids. Kids aren't cheap either.

So I suggest not getting a 3 year loan for $700 a month. ;) That is 3 years...think about that long and hard. Every month, $700, for 3...long...years.

That is commitment, and you may change jobs, or lose your job, then what? You could fall on hard times with rent and a $700 a monthy a payment to pay, with no money. You never know what could happen.

Leasing a car is one of the worst things you can do. You pay out the ass for a very long time. Used car my friend. Get one for a fraction of the cost for $2000-$9000 instead of $22,000.

Just advice. Blowing money is great, but when you fall on hard times, then what? You got bills and no money, or you got money, and spend it all on bills. That isn't living...that's slavery, and it's no fun. :)