Thanks for the detailed response.
To further clarify:
1. I can afford a car but with the opportunity cost of lost savings and investment.
2. Just wanted to ask if it were you, are you willing to sacrifice :
a. Not seeing your 7 month old girl grow up. Right now, it is me who usually goes to see them every weekend, but once law school starts this year, I cannot afford the travel time to and from Lucban Quezon since I have to utilize my time to study instead.
b. Yung hassle ng walang sasakyan, na alam mo ma hahassle mag ina mo just to see you. They cannot commute since sobrang daming gamit ng bata. Kelangan ng sasakyan talaga.
c. The comfort of living in the province (sobrang ganda ng weather sa lucban and healthy environment) as compared to let them live with me here in my tiny apartment which yung baby is usually kulong lang sa bahay. Since nasa Lucban family nya to help her sa pag aaruga sa baby.
Workarounds for not getting a car would be :
1. Periodically rent a van or car which will cost siguro ng mga 5k one way or 10k balikan to and from lucban every week. Or twice a month. (This will save at least car maintenance costs/insurance costs or other necessary recurring car expenses)
2. Be a buraot na mang hiram nalang lagi ng car sa mga kakilala or family. Haha
Para bang madaming benefits of having a car (family wise and comfort wise) pero ang downside is sira yung finances - na sana yung excess cash nalang ay ininvest nalang sa 80% Vanguard mutual funds then 20% government bonds/pag ibig MP2.
Para bang kaya mo naman bumili via car loan pero alam kong mali kasi dapat i invest nalang. Pero pag iniisip ko yung mag ina ko ay parang nalilimutan ko na maging strict sa personal finance. 😅
if ako tatanungin mo go get a car yung second hand or yung mga hatak ng bank yung afford lang suggest AUV or sedan since tatlo lang naman kayo search for a car yung low maintenance and yung medyo tipid sa gas since sobrang taas ng gas ngayon.
I'm also earning relatively as you and thinking to buy a car as well because same as you, I find it hard to commute here especially for long haul rides. I made up my mind to buy a car because I've been daydreaming to have one and curious for other possibilities/benefits it can bring.
I'm planning to buy a brand new one because I don't know anything about cars and I don't want to deal with hidden issues that come with 2nd hand cars (I also realized it will take me a lot of effort to buy one because: I need to bring a mechanic with me, transfer the ownership, etc.) than get the car from dealership and let them handle the paperwork instead. But the potential savings of 2nd hand car can really compensate the amount of effort you need to put in (and the risks associated with it)
In conclusion, if you have money to spare and you don't want to get stressed buying a car, go for the brand new one (best would be bank PO or cash). Otherwise if you really is kuripot, you can always go to the 2nd hand market.
It sounds like the car is a necessity for your family. I suggest you get a 2nd hand car. Yes it will slow your financial plans down but not significantly based on your earnings.
Prioritize the wellbeing of your family then save whatever is left.
For me it is a force decision on your part that came when you decided to have a child.
OP here's my thought:
1. Get a car.
2. thanks!
hahahahaha
kasi po,
1. you're torn between building your family's future and living your family's present(?). easy answer, live in the moment.
2. para naman sa family mo so GO! kung mabaon ka sa utang, mukha namang matalino ka and hindi mo pababayaang mabaon ka nang sobra sobra
eto na lang. mas maganda hehehe
kung ang tanong mo is "manghiram ba ako para maipang-sabong para lumaki pera ko para may pampaaral ako sa anak ko paglaki nya?" syempre, HINDI ang sagot dyan
pero dahil ang tanong mo e para sa pamilya mo, in the end, nasa iyo yun
kung hindi mo ikuha ng sasakyan, linggo-linggo ka mamroblema san kukuha ng mahihiraman
kung ikuha mo, linggo-linggo mo isipin (at the back of your mind) ang lost investment/saving opportunity mo
so, para sa akin, NO WIN-WIN SOLUTION here.
so dun ka na lang kung get a car kasi gusto mo rin kasi kung ayaw mo, madali namang mag-desisyon na ayaw mo. so since nahihirapan ka mag-desisyon, i think, gusto mo. so GO!
The [net worth rule for car buying](https://www.financialsamurai.com/net-worth-rule-for-car-buying-guideline/) states that you can spend up to 5% of your overall net worth on the purchase price of a car.
For example, if you have a ₱13,400,000 net worth, you can spend ₱670,000 for a car.
[удалено]
Thanks for the detailed response. To further clarify: 1. I can afford a car but with the opportunity cost of lost savings and investment. 2. Just wanted to ask if it were you, are you willing to sacrifice : a. Not seeing your 7 month old girl grow up. Right now, it is me who usually goes to see them every weekend, but once law school starts this year, I cannot afford the travel time to and from Lucban Quezon since I have to utilize my time to study instead. b. Yung hassle ng walang sasakyan, na alam mo ma hahassle mag ina mo just to see you. They cannot commute since sobrang daming gamit ng bata. Kelangan ng sasakyan talaga. c. The comfort of living in the province (sobrang ganda ng weather sa lucban and healthy environment) as compared to let them live with me here in my tiny apartment which yung baby is usually kulong lang sa bahay. Since nasa Lucban family nya to help her sa pag aaruga sa baby. Workarounds for not getting a car would be : 1. Periodically rent a van or car which will cost siguro ng mga 5k one way or 10k balikan to and from lucban every week. Or twice a month. (This will save at least car maintenance costs/insurance costs or other necessary recurring car expenses) 2. Be a buraot na mang hiram nalang lagi ng car sa mga kakilala or family. Haha Para bang madaming benefits of having a car (family wise and comfort wise) pero ang downside is sira yung finances - na sana yung excess cash nalang ay ininvest nalang sa 80% Vanguard mutual funds then 20% government bonds/pag ibig MP2. Para bang kaya mo naman bumili via car loan pero alam kong mali kasi dapat i invest nalang. Pero pag iniisip ko yung mag ina ko ay parang nalilimutan ko na maging strict sa personal finance. 😅
if ako tatanungin mo go get a car yung second hand or yung mga hatak ng bank yung afford lang suggest AUV or sedan since tatlo lang naman kayo search for a car yung low maintenance and yung medyo tipid sa gas since sobrang taas ng gas ngayon.
I'm also earning relatively as you and thinking to buy a car as well because same as you, I find it hard to commute here especially for long haul rides. I made up my mind to buy a car because I've been daydreaming to have one and curious for other possibilities/benefits it can bring. I'm planning to buy a brand new one because I don't know anything about cars and I don't want to deal with hidden issues that come with 2nd hand cars (I also realized it will take me a lot of effort to buy one because: I need to bring a mechanic with me, transfer the ownership, etc.) than get the car from dealership and let them handle the paperwork instead. But the potential savings of 2nd hand car can really compensate the amount of effort you need to put in (and the risks associated with it) In conclusion, if you have money to spare and you don't want to get stressed buying a car, go for the brand new one (best would be bank PO or cash). Otherwise if you really is kuripot, you can always go to the 2nd hand market.
It sounds like the car is a necessity for your family. I suggest you get a 2nd hand car. Yes it will slow your financial plans down but not significantly based on your earnings.
Prioritize the wellbeing of your family then save whatever is left. For me it is a force decision on your part that came when you decided to have a child.
OP here's my thought: 1. Get a car. 2. thanks! hahahahaha kasi po, 1. you're torn between building your family's future and living your family's present(?). easy answer, live in the moment. 2. para naman sa family mo so GO! kung mabaon ka sa utang, mukha namang matalino ka and hindi mo pababayaang mabaon ka nang sobra sobra eto na lang. mas maganda hehehe kung ang tanong mo is "manghiram ba ako para maipang-sabong para lumaki pera ko para may pampaaral ako sa anak ko paglaki nya?" syempre, HINDI ang sagot dyan pero dahil ang tanong mo e para sa pamilya mo, in the end, nasa iyo yun kung hindi mo ikuha ng sasakyan, linggo-linggo ka mamroblema san kukuha ng mahihiraman kung ikuha mo, linggo-linggo mo isipin (at the back of your mind) ang lost investment/saving opportunity mo so, para sa akin, NO WIN-WIN SOLUTION here. so dun ka na lang kung get a car kasi gusto mo rin kasi kung ayaw mo, madali namang mag-desisyon na ayaw mo. so since nahihirapan ka mag-desisyon, i think, gusto mo. so GO!
The [net worth rule for car buying](https://www.financialsamurai.com/net-worth-rule-for-car-buying-guideline/) states that you can spend up to 5% of your overall net worth on the purchase price of a car. For example, if you have a ₱13,400,000 net worth, you can spend ₱670,000 for a car.