What Can I Do On My E-1 Budget?

Billy11B

My advice would be to save your money until you can find something decent and can better afford a car and the insurance and upkeep costs you will incur.

yzfr6bikergirl

First, when you get to your first duty station, realize all places within a 30 to 45 mile radius are set up to scam the military soldiers! Drive away from the post to get ANYTHING on credit. Preferably go back home, tell the local car salesman you jioned the military, and the manager will probably actually help you because you are in the military, unlike the people around the military post who will say "What d you want your payment to be?" You want to know your interest rate and how much the total cost is. Decide how much you are willing to use for car and insurance, and then decide on a vehicle. Do research! A 2 door car for an 18 year old prob isnt a good choice, especially when your going to be on a strict budget the first year or two. A good suggestion is never have a car payment and insurance over 15% of your income. Obviously with you making so little to start, that is not very easy. But anything over 25% and your going to be making life hard on yourself. A small cruiser bike would be ok, but check insurance before buying anything!

Apple Juice

NO you cannot ride a motorcycle year round. DO NOT Spend 12k on a coupe!! Go to cars.com put in your zip code and a 50 mile radius. DEFINENTLY buy used! I have a vehicle that I have a $10,000 5 year loan on, and I pay about $250 a month. I know what it is like to live on an e-1 budget buddy, go for a decent inexpensive used car. I got mine on cars.com for $5,000 BELOW blue book value! Make sure it is a certified used dealership, there is a lot of screw you out of a lot of money car lots near all posts!

You should be able to buy a decent small car for around $5000!!

Malruhn

yzf gave EXCELLENT advice.

As an E-1, you won't have crap for money - so I would recommend saving a month or two and buying a piece of crap car for under a grand. That will leave you enough for insurance and gas every month... and enough to put in a savings account to buy a REAL car in a couple of years.

Yes, you will look like a doof... but you will be a doof with MONEY, WHEELS and MANAGEABLE BILLS!!! Just watch your E-1 buddies that go out and buy that Lexus cry when the cars get repossessed... and it happens all the time.

Sock as much as you can into savings - and study your butt off to get promoted.

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