how realistic is it to think that if I make $70k/yr i could save up and afford my $100k dream car?

[actindle]

Just wondering...Im in college right now to be a mechanical engineer and essentially i want to reward myself with one of my dream cars (lamborghini gallardo) or settle for a lotus elise or exige...thanks for the opinion

[RyanM207]

Yeah, you just might have to save for 10 years to get it, but you in theory could if you didn't have any other debts like a house payment.

[MaggieG777]

It all depends on your motivation. If you are serious about paying cash for your dream car, then take the necessary steps to be able to do that.

First, set your timeline. If you want the car in 5 years post graduation, you will need to save $20,000/year, or $1667/month

@ a $70,000/year job, you will probably bring home around $4000/month

Set up a budget that will allow you to save that much.

Start by building a 6 month emergency fund, set up investments for retirement, then start to save.

Live below your means. Rent a $350/month room instead of a $1500/month apartment. Live near your work, to avoid the need for a car. Pack your lunch, cook from scratch, eliminate lavish vacations, avoid debt.

Good luck to you and I hope you are able to accomplish your goals.

[InspectorBudget610]

Unlikely that you can save up enough for it before you become too old for exotic cars.

You better start a business, then sell it to Google for hundreds of millions. At that time you will be able to afford any car you wish for.