i feel like a bit of a posting whore but wat the heck.

ive recently come into some money (dont ask how when or why.....or if u can have some )

but was wondering what all u other guys do apart from bills, modifying ur rides and all that other stuff.

just trying not to completely screw my life up by contently upgrading my car

go to the hookers heaps...

if it was me and depending how much, i would.

donate some too a charity.

then my mum something nice.

then maybe buy some clothes or save it.

remember you DONT HAVE to spend it. earn some interest on it or something.

put it all in the bank mate...

save... save... save...

i wanna buy a house... but its also there for a "just in case"

man dat shits even worse then modifying my car.

at least i get to take that shit home haha




oh im not talking about a few hundred or so......id say im lookn at around 20 large.

a house is temping....but with another 3-4 years of uni......i think its a bit early

i dunno......at least thats wat i think =[

and im trying to stay away from crown casino HAHA

house / unit , then rent it out. pay off house buy another house, rent that out etc etc.

all money is in property imo

now that u mention it.

i was off my face last week watchn that property shit on channel 10 at like 3am.

shits pretty interesting......but i dont think ive got enough to even start dat shit....

if you have enough for a deposit, and have worked 3 months full time or 12 months casual you should be eligible for a home loan, and then use the money you have come into for the deposit.

Or get some land, which would be cheaper option but would still net you more money in the future.

if you werent half cut when watching it... lol...the guy tells you that he borrow 100% for the house, but you would be far better off with your 20g as a deposit...

they say 5g is good but 20g would be fantastic, plus first home buyers grant... should be good mate

spend it on ur car man, get a bigger turbo . 3540's are small now adayz

once property bottoms out and starts to stablise, buy up.

apartment in my block in toorak for sale in the mid 200's ATM, easy 220pw rent

and given the price of fuel and location, it will go up over the next 5 years.

land sounds good but i dont understand any of it.....and the only land up for sale these days is gettn closer and closer to Tasmania



i really wanna find out more but as if spend 300bux on paper with words on it.....

lol @ cds to listen to in ur car.....




if u havnt noticed im falling for the HKS turbo trick =[

works everytime

Property, and pay off any credit cards/loans etc

Crack Party
End Thread.

put it in a savings account for now until you know what you want to do with the money. I put mine in one and im getting about 80bux a month from interest. Not much but its still money ey.

If your looking into property look at our wages and the loan repayment %.
A lot of home loans won't leave you with much change to live on after the repayments

20k? with 3-4 years of uni left?

blow it on your living/car/alcohol/clothes.

ur not doing sh1t with money til u finish uni..

+1 to that

20k = deposit

rest loan

rent pays loan

then spend ur normal earnings on car/living... that way in 3-4 years once u finish uni u will be earning some better $$... then live in the apartment u just bought + buy another one that pays itself..

by that time u will be 30-40 with 2 properties if not more

^^^Agreed!

Its all about compounding wealth mate! Money makes money. Dont blow it on shit like some others have said. Buy a house. Property and land over the long run will NEVER go down...

I'm trying to get a deposit together to get something around the 200k mark as well! I wish I was in your situation mate, ur pretty much set. get something around 200-250k (10% deposit 20k + around 5k first home buyers grant) and u hopefully wont have to pay for any of the loan from your own pocket as the money ur making from the rent should cover it all. By the time u get out of uni, u'll be ahead of most people, already having ur own house. Then, its all about compounding!

just my 2c

maybe term deposit til u decide?

cant you get sex for free??


oh and i'd save the money

2 words

LIVE LARGE!

IBITHHHHHHHAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

buy stock from the stock market bro!

+1 to crack party

im sorry but 20k aint going to do shit for a house specially if you dont even have a steady income to support repayments anyway

happy ending ?

Shares or just keep it and get some mad interest.

BTW I looked at term deposits once and found the standard ING account savings account would have got me more interest at the money I had, so just keep that in mind.

Go and see a real "financial or investment advisor/planner" pay about $200 - $250 an hour, small investment, 2 or 3 hours should be enough and you won't regret it. They will give you sound advice and strategy as to how to get your money to make you money. Unfortunately most people don't do this when they come into money at a young age and regret not being smarter with thier money later. You may have an opportunity here to not exactly set yourself up for life but get ahead at a young age.

yep i would have to agree with crack party

or at least buy shit load of pills for 20k then sell them all to lil kids at dance partys and you will turn that 20K into 100K very easy

Finally someone who hasn't just read an article in the paper or watched a TV show!


Whoever said $5k is ok for a deposit, go do some research and calcs then tell me how far that would get you.

Also even if you could take out a 100% loan why would you want too? You will have to pay mortgage insurance and extra interest.

$30-50k is where you want to be at when placing a deposit on a place around the $300-350k mark.

Remember theres also many tax benefits involved in renting a property - depreciation, interest etc. If the property has a decent rental yield and high capital apprecitation it may even be worth taking out an interest only loan and treating it purely as investment you plan to sell in the short term, 3-5 years.

Even better if you know someone that wants to rent the place off you do it for cash the first 12 months claim the first home owners grant, then claim it as income earning property in the next year.


Either that or place it in a managed fund/term deposit etc, dont go blow it on cars - use your normal wage to do that if you want. Live off your standard wage just as you have been and you will be well ahead of all the noobs that will have no assets once they finish uni/apprenticeships. That is of course unless your living off poo money at the moment.

its never too late to buy property this should be your main priority in life..

lol dude, dont put it into property.

every one thinks the property game is easy.. why doesnt everyone have their own joint already then.

what are you going to do with a 20k deposit down? ull get another 12k first home buyers (7+5 from state) and that brings u to 32.. in this situation u need to take a loan for 200+ and have to live in the property for 6 months, ie paying the first 6 months of repayments by urself unless u share accommodation..

at todays rates, you will be paying 1800-2k on a 200+ loan.. can u afford that as a uni student?

after this 6 months, you will need to secure a tenant, and if u are buying a property for say UP TO 300k, depending on location you might be making around 800 a month rent.. so you still need to subsidise the remaining 1k a month to repayments.. for the next few years of being a student, and trying to survive, as well as living.

from here, how secure is the location going to be? how fruitful is the number of potential tenants in the area, will you have enuogh money in a slush fund to put money into repayments at 100% if u CANT find a tenant for a number of months?

what happens if a tenant bails on you around november, and ur stuck around christmas time, with bills, presents to buy, new years eve parties, and 2k a month to pay, with no tenant..

thats the long of it, the short of it is..

20k is fsck all in the property game.

being a student, id save the embarrasment of being laughed at when applying for a loan in the bank, im assuming ur on the hecs scheme yeah?

do you own a car or any other property? if yes, then maybe you can use this as collateral toward the loan

do you have a credit card? if yes cut it up or you itll just affect your borrow amount

are you working 40 hours a week in a steady job that pays 60k+ and have been there for more then 12 months? if you havent, you probly shouldnt even be thinking of a loan.. because you wont get one, and you couldnt afford it the repayments.



again my advice, do things you wouldnt normally do, rent hotel rooms and take mad b1tches there to baller it up and fsck them like a pimp, spend it on your car, mad fscken clothes, casino, going out, and possibly some mad bling, iced up rings n sh1t.. if your not rich, at least you can look rich.. HOOD RICH NIGGA. and 20k isnt going to last long anyway, i can blow 20k in 1 phone call to the TAB.

CHYEAH BOYE.

your other alternatives are.

1. put it into shares, thats a little less on the hip and income or
2. put it all on the dream team to win gold at the olympics, guaranteed return.

thats what id do, shares or dream team.

Travelling would be a great option. If I had more dosh, I'd love to go to Japan, USA, Europe.. Anywhere really..

yeah travelling is sick.. do that man.. that gets u something priceless for your money, experience and culture and B!TCHEZZZZ

LOL @ every fkn muppet shouting property. Just from the replies it's blatantly obvious how many people here actually have a mortgage, let alone any clue about managing money, approximately 2.

I'm assuming that as a uni student you don't earn a wage capable of supporting yourself and repayments on any kind of reasonable returning property. Even a 1 bedder apartment purchased for around 220k rented for a good 800/mnth will call for hefty repayments out of your pocket, let alone bills and expenses.

For your situation, a term deposit or a managed fund is the only way to go, maybe spend a few hundred of that cash to speak to a financial planner as someone above suggested because this definitely isn't the place to go if you want financial advice that's worth anything more than the time wasted logging on

PILLS

20000
/
5
=
4000.

4000x30=120,000.

Just sayin'

Investments.
I got investors taking 20% return in only a few months on small outlays.

the smarter financial decision would be to invest the money ie shares, property or put it in the bank and earn interest

Or you could sell ur car and upgrade to and R34 GTR...on jspec they are getting pretty cheap

Or just save the money for the future

i advise to by BHP Billiton shares.

Buy another car

or crack

then have a crack party

or get a crack whore

then you can have a party with crack and a whore

I don't know

buy a house?

see a financial planner?

google it?

Jeeves would know..

Buy some sense.

Or start a thread on NS so you can let everyone know that you got some more money...

BAHAHAHAHAHAHAHAHAHA x100

mmm agree with Dezz, get the crack whore

would've said property as well but seeing as though you're a uni student without a decent steady income, that wouldn't be the smartest thing.

i don't know why other people are saying to put the $20k as a deposit on a loan for a house that you're using as an investment property when what you're trying to do is maximise the tax deductions...

as someone else has suggested, go talk to a financial planner or if you know how to play, enter the sharemarket game.

20k will make $100 or more a month in a commonwealth netbank account...with access to the money whenever you want/need it.

I think it'll make even more in an ING account, but without immediate access to it as with commbank.

I'd be more concerned with maximising the return on investment over maximising tax deductions.

That said, 20k is not a great deal of money in the scheme of things.

How does someone just come across '20 large' as you put it, or are you just showing the world of NS.com your new found wealth?

Based on 8% PA, assuming the money isn't continuously compounding (which it probably is, but I don't have my financial calculator in front of me and I'm about to go to sleep) you would get a return of just over $30 per week with an initial investment of $20,000.

Keeping in mind that inflation is a bit over 4% at the moment so in reality you're getting a maximum 4% increase on your money over inflation, which would leave you with around $15 or so extra to play around with per week whilst you're $20,000 is sitting away in the bank (it would increase over time, but only marginally). On top of that you'll pay tax on the interest earned.

So yes, very exciting stuff to come from that 20k of yours.

Unfortunately the average investor/wannabe investor doesn't get much better returns than that. Maybe 10% in government bonds?

Inheritance maybe?

that's pretty good..
though just remember if you withdraw you don't earn any interest that month!

Theres no money in pills unless your going big or are willing to do a lot of legwork.

(shardz ftw )