Wonder how many cyclists already figured this out?

[Pax]

Interesting article from MSN about how people are going broke with car debt (hope this isn't old news).
http://articles.moneycentral.msn.com...&wa=wsignin1.0

[KnottedYet]

I'm going broke from medical bills and the skyrocketing rent for my apt...

[Pax]

I'm going broke from medical bills and the skyrocketing rent for my apt...

It's interesting how we can go broke by choice. We can spend HUGE amounts of money on things like a car, when we could easily choose cheaper forms of transportation (cheaper car, bike, bus, train). Then there are the things we don't GET to choose, like medical costs, higher rent (unless you live in a place where there is a cheaper housing choice), skyrocketing utility bills...

I have an '01 Ranger that cost me about 8k three years ago, I got rid of a 30k minivan to buy the Ranger...I found I was getting angry every single month when I wrote out that big check so decided to do something about it.

[Trek420]

...and wool

Yes, I drive too. But when I first shopped for insurance (and getting ready to do that again, who do y'all like?) and they ask my odometer and how old the car is, average miles per year etc I have to repeat it several times. "no, it's not 77,000 per year (can people do that? ) that's over the life of the '99 vehicle"

Then explain "I take BART, my commute is to-from the station and in good weather I don't even do that, I ride my bike".

But I think of it as recreation, fun and an investment in my health.

[Blueberry]

Mine is my HOA. It's fun to try to sell a condo when the dues are $243 a month, and we're on year 7 of 5 digit assessments. UGH!

Good article. Glad I'm driving a paid for car Just wish I didn't have such a long commute - there is no alternative arrangement - I've looked!

[Pax]

Mine is my HOA. It's fun to try to sell a condo when the dues are $243 a month, and we're on year 7 of 5 digit assessments. UGH!

Good article. Glad I'm driving a paid for car Just wish I didn't have such a long commute - there is no alternative arrangement - I've looked!

Holy COW!!! $243 a month just for dues??? I guess I'm spoiled her in the middle of nowhere, my last mortgage was only $500 a month, and the new mortgage we're looking at is around $750.

[Blueberry]

Holy COW!!! $243 a month just for dues??? I guess I'm spoiled her in the middle of nowhere, my last mortgage was only $500 a month, and the new mortgage we're looking at is around $750.

They were 150 when we bought. We're talking about a small, modest condo here - we thought we were buying below what we could....

HOA has been very badly managed, and the sellers made a bunch of misrepresentations about how things were going.....

I really feel for people in more expensive areas (e.g. DC, PNW) - I don't know how they make it!

[Bluetree]

Holy COW!!! $243 a month just for dues??? I guess I'm spoiled her in the middle of nowhere, my last mortgage was only $500 a month, and the new mortgage we're looking at is around $750.

Queen,
I am seriously envious at your $750 mortgage.
I don't know anyone who pays less than double that amount in my area (triple is more common)! I've been shopping for an affordable condo for years and can't find anything under $650k. As it is, my rent-controlled apartment is $1200/mo. and well below market value.

Great article - thanks for posting it.

[Bikingmomof3]

Queen,
I am seriously envious at your $750 mortgage.
I don't know anyone who pays less than double that amount in my area (triple is more common)! I've been shopping for an affordable condo for years and can't find anything under $650k. As it is, my rent-controlled apartment is $1200/mo. and well below market value.

Great article - thanks for posting it.

Wow! I thought the $651 mortgage I pay was a lot! I could not afford California.

[Pax]

Queen,
I am seriously envious at your $750 mortgage.
I don't know anyone who pays less than double that amount in my area (triple is more common)! I've been shopping for an affordable condo for years and can't find anything under $650k. As it is, my rent-controlled apartment is $1200/mo. and well below market value.

Great article - thanks for posting it.

Since I do social work and my SO is a librarian, I can't wrap my head around ANYONE making enough money to buy a $650k place. Right now we're renting a 2 bed/2 bath 1000sq ft condo with a garage for $665 a month, I guess as much as I wish we lived someplace more fun/interesting, there are definite perks to living here.

At this point we have a second car (we're out on the edge of town) but once we buy in town we're ditching the second car and keeping my almost paid-for little Ranger. I'm so looking forward to having my reasons and excuses for NOT riding to work disappear.

[KnottedYet]

Holy COW!!! $243 a month just for dues??? I guess I'm spoiled her in the middle of nowhere, my last mortgage was only $500 a month, and the new mortgage we're looking at is around $750.

I'm paying more than $800/mo just for rent! And they want to raise my rent $100 when the lease ends in June. I tried finding a cheaper place last June, but no luck.

The rental market here has finally caught up with the huge real estate boom.

Bummer.

[mimitabby]

Yes, and according to the local paper it's no bargain here to buy a condo either.

[KnottedYet]

$100,000 wedding! Holy Kamolee!!

I bought the exact car I wanted, when the price was down because the next year's was coming out, and traded in my rust-bucket that needed a new engine for more than it was worth without repairs. (I couldn't sell it because it had failed state emissions test, legally had to replace engine and pass test before I could sell.)

This car should be good for at least 10 years, hopefully 15. It's got a 6 year loan (eeeeek!) but at 4.5% interest. So I don't complain *too* loudly...

It's the first new car I've ever bought, and it was very nerve-wracking to take that step!

[mimitabby]

Then some of us drive 15 year old cars and buy expensive Italian bikes.
When I'm all through, the bike will be worth more than the car

[Blueberry]

Then some of us drive 15 year old cars and buy expensive Italian bikes.
When I'm all through, the bike will be worth more than the car

When you put the Bike Fridays in my car, the value well more than doubles I kinda like it that way (though I'm starting to get the large firm pressure of you have to buy a nicer car to impress clients - my response - you can pay for it then...)