Anything you guys would of done differently when you guys were 18

I'll try to be the voice of reason here....

Yes, use your money and have fun with it. This is the time of your life!

BUT, I would strongly suggest putting some; maybe 10% into RRSPs. If you continue to do this your whole working life, starting so young you'll have a VERY healthy retirement.

Then you can take the 40% you get back on your taxes and blow it on whatever you want.

You may not care much about retirement now, but if you do as I suggest I guarantee you will be happy with the results in your future.

^ he is not going to get close to 40% back in the income bracket he is in.

Quote:

---

Originally posted by Redlyne_mr2
This is a small issue, but get a credit card, use it for all your expenses but pay it off everything month. By the time you're 25 you'll have great credit and large limits meaning that getting credit on anything else, mortages etc will be a brease. As for everything else, travel, meet girls, buy fast cars, party.. just pay off your credit card hahaha.

---

IMO CC at 18 is not a good idea unless if you think you're SUPER RESPONSIBLE and can MANAGE your money. I can't stress that enough. Lets say you get a $1000 CC, you get paid on average $833 per pay cheque (before taxes). If you were to ever max out your credit card you wouldn't even be able to pay it all off in 1 cheque. And then by the time your next cheque rolls around you'd have racked up your tab once again since you have no money to spend cuz it all went to your CC.

i'd say fudge the CC at the moment, and start saving. You'll get around $800 per cheque, put away ~$350 every cheque, which will amount to $1050 in savings/ investments per month. And will leave you with ~$450 for 2 weeks. Which when I was 18 was barely anything at all. lol. but i guess that depends on how much your party and how you party etc. oh and future consideration of high school GF's...aint cheap either.

You say you make $2500/ month, that sounds like a TON of money, but when you break it down pay cheque to pay cheque it really isn't a lot of money when you're trying to save.

just something to think about.

Agree! enjoy it!!

I would have spent all my money on dozens of girls instead of just one. :)

Where's that quote.

Don't buy anything you don't need with money you don't have to impress people you don't like.

Stick with the above. Be responsible with your money. C/C is a good idea. You need it to build credit.

Go to school or find something you like to do and stick with it.

Have fun and enjoy these years.

Oh yeah, go see an adviser at the bank and start putting some money away. Let compound interest and time work in your favor.

School, girls, booze, food. the four staples of a guy under 25.

Don't get a credit card it will fuck you :banghead:

Quote:

---

Originally posted by imjimmylin
Don't get a credit card it will fuck you :banghead:

---

Depends on the person. I got a CC at 16 (Co-signed by parents) and I was responsible enough to only use it during emergencies. I learned how credit worked and slowly started using it for everyday purchases. Just be smart about it :dunno:

Quote:

---

Originally posted by l/l/rX


IMO CC at 18 is not a good idea unless if you think you're SUPER RESPONSIBLE and can MANAGE your money. I can't stress that enough. Lets say you get a $1000 CC, you get paid on average $833 per pay cheque (before taxes). If you were to ever max out your credit card you wouldn't even be able to pay it all off in 1 cheque. And then by the time your next cheque rolls around you'd have racked up your tab once again since you have no money to spend cuz it all went to your CC.

i'd say fudge the CC at the moment, and start saving. You'll get around $800 per cheque, put away ~$350 every cheque, which will amount to $1050 in savings/ investments per month. And will leave you with ~$450 for 2 weeks. Which when I was 18 was barely anything at all. lol. but i guess that depends on how much your party and how you party etc. oh and future consideration of high school GF's...aint cheap either.

You say you make $2500/ month, that sounds like a TON of money, but when you break it down pay cheque to pay cheque it really isn't a lot of money when you're trying to save.

just something to think about.

---

Sink or swim.. if you dont learn young youll never learn until its too late. If you're going to mess up your credit then mess it up when you're 18 or 19. If you mess it up when youre 24, 25 then you've basically killed the chance of establishing yourself until youre in your 30s.

I regret spending money on my car.

I could of had a good down payment on a house!

Get a credit card and build your credit.

Stay in school!

^^^

:werd:

I fucked up hard between the ages of 18-21 haha I think my average debt was probably easily $10K+/month which was a lot at the time. Racking up money to go out to eat, modding my car etc. It sucked. But I turned it around in time so it all worked out. One benefit of carry that debt load was, excellent credit rating haha Instant approval on car loans, mortgage, co-signing etc.

Quote:

---

Originally posted by stealth
I regret spending money on my car.

I could of had a good down payment on a house!

Get a credit card and build your credit.

Stay in school!

---

I think about my car modding obsession sometimes. I've been lucky enough to not have to make to many sacrifices but even if I would have had to I woudlnt change it for the world. I've met so many great people through cars and even though it seems like every young guy in the world has a nice car because of this forum that is certainly not the case. We are all lucky to be able to have fun sports cars at a young age, wether theyre cheap or not.

Made tons of terrible decisions when I was younger spending money on things I shouldn't have but to answer the question, NO. I would not change a thing. You only live once :D

I just wish I knew then what I know now...

Wow lts of different views. I can tell a lot of you are from Alberta making so much money when you were younger. When I was that age in BC we were lucky that we got $8-$9/hour and we still partied and went out all the time.

Anyways like most said here spend your money on things you like and save some, especially if your making that much. Also I would say that you should travel now while your free. In my early 20's I worked on cruise ships and was single. Not only do you get to be a slut and play with women all over the world. When you get back home you can start your life from fresh and no one needs to know what you did.

when I say free, I mean once you get married you are pretty much tied down to working and having no life. Some people will say no, but they havent been married lol. Its hell, but you know you can go home from work have sex, grab some food, and play video games with out having to worry about entertaining someone. LOL.

Find out what you're truly passionate about, and pursue it while you can still dream.

Quote:

---

Originally posted by JfuckinC
FUCKKKKK no
man your yuong
blow your cash
your alowwed(how the fuck do you spell this word?!).
i partied like a baller when i was 18. drove a shit box, lived with my parents, who cares man, have the fun while you can. dont spend it on cars, spend it on booze and vacations and partying and whatever you want!

---

wow, nice post.... sure.. piss away your 18th year... awesome idea. Who cares about the future right? ;)

Looking back, I'd stay in school, and give it all you got. Get fantastic grades so you have numerous doors open for you. Stay well connected, and get a degree in whatever. Give it some SERIOUS thought before getting into it, including some work experience. You Honestly have no idea how badly I wish I gave more effort in school, so I'd have better grades to go get my MBA, or any other sort of University/College type degree. (and believe me, there are lots I wish I was eligible for)

I'll be 26 in another 5 weeks, and I dont feel too much further ahead then when I was your age. I'm now going back to school to get a ticketed trade.
When I was 18, I had the same idiotic daily ideal that the person I quoted had. I partied, I did drugs, I was a fucking idiot. I have now nothing to show for it except for experience, with really isn't worth much you'll soon find. the next years of your life will fly past... honest to God. It was just yesterday I was turning 22.
Dont waste the best years of your life meandering between jobs and places that you live.
LIfe is short, make it count.
make the best of yourself, follow what you TRUELY want to do, regardless of the cost (asides from at the cost of others), and give it your best shot, you have nothing to lose and the world to gain.

EDIT: And please for the Love of God dont waste your money on modding cars... fuck... Looking back at the 10's of thousands of dollars I lost on modding and selling cars I had, it was incredible.
There are a lot more pressing issues at hand that are much more deserving of your money then ho's and fixing up cars. :rolleyes:
Please trust me on that.

Never regret. Everything you do is a lesson and builds who you are. Just use your head and don't spend what you don't have.

Quote:

---

Originally posted by Graham_A_M

wow, nice post.... sure.. piss away your 18th year... awesome idea. Who cares about the future right? ;)

Looking back, I'd stay in school, and give it all you got. Get fantastic grades so you have numerous doors open for you. Stay well connected, and get a degree in whatever. Give it some SERIOUS thought before getting into it, including some work experience. You Honestly have no idea how badly I wish I gave more effort in school, so I'd have better grades to go get my MBA, or any other sort of University/College type degree. (and believe me, there are lots I wish I was eligible for)

I'll be 26 in another 5 weeks, and I dont feel too much further ahead then when I was your age. I'm now going back to school to get a ticketed trade.
When I was 18, I had the same idiotic daily ideal that the person I quoted had. I partied, I did drugs, I was a fucking idiot. I have now nothing to show for it except for experience, with really isn't worth much you'll soon find. the next years of your life will fly past... honest to God. It was just yesterday I was turning 22.
Dont waste the best years of your life meandering between jobs and places that you live.
LIfe is short, make it count.
make the best of yourself, follow what you TRUELY want to do, regardless of the cost (asides from at the cost of others), and give it your best shot, you have nothing to lose and the world to gain.

EDIT: And please for the Love of God dont waste your money on modding cars... fuck... Looking back at the 10's of thousands of dollars I lost on modding and selling cars I had, it was incredible.
There are a lot more pressing issues at hand that are much more deserving of your money then ho's and fixing up cars. :rolleyes:
Please trust me on that.

---

Though most of your remarks are good. I dont like the fact that you gave the advice that just because you have good grades and a degree that everything will be good. I know to many people that went to school for years and years and now they work in a grocery store. I also know people that dropped out of school after 6 months and make six digit incomes. Its all about how you apply yourself. Don't go to school for years on end because someone said if you have a degree you will get a good paying job. Go to school because its what you want to do even if its just courses here and there for a cert.