No, seriously how can you afford a brand new iMac?

[rajbonham]

...says the guy who makes $11/hour

Come on now, that was kind of rude to make a statement like that. I was just pointing out a post like the original simply leads to people "one-upping" each other.

Which usually leads to people completely lying. Even if I did make $11 an hour, it's definitely not any of your business.

 

[nesuser2]

Try $550 per WEEK in rent. That's the $2200/mo price you pay to live in Los Angeles.

Can you book a room on priceline cheaper than that? they'd clean your sheets too...but you might lose some space..or not?

 

[Zacken87]

I'm a student, going to be a freshman in college this fall, and I'm paying for my $1900 21.5" dual-core i5 out of savings from work. I make $8/hour with 20 hours per week being average, which after taxes is about... $6.8/h? Which totals out to be about 3 and a half months worth of savings, if we don't account for expenditures. If we do, it's been about 5 months. =P

 

[Spike88]

Like many "middle working class" single income families trying to feed 5 mouths and pay for 2 kids to attend future university (by contributing huge amounts into their RESP accounts), my personal debt accounts are "in the hole" as well. Last time I checked, $55K in personal debt. But that's what it takes to survive (and future thrive) in Canada - for a middle class person. Currently paying paying $1K per month for the next 5 years (at 3% interest) - to pay off my personal debt amount.

For me this Feb 2010, I took $10K "after taxes" bonus from my work. Put the entire amount into my TSFA account ( re: http://www.tfsa.gc.ca/tfsaandyou-eng.html ). And behind it, I bought a balanced portfolio - where I bought "buy low". Today, the portfolio is now worth $11,000. That's $1,000 "increase" since Feb. And best of all, $1,000 of FREE "tax free" savings from it. Just need to ride this out for another 5 months and I'll have $2K of Free money. Yes - $2K to buy a new iMac - which will probably a new 21.5" with i5 chip. Last Jan 2010, my wife said I could buy a new iMac for Christmas 2010 - "only if I use free money to buy it". So far, I have 1/2 its needed purchase dollars saved up. Just need the other 1/2 amount. From a white board perspective, "I'll have a FREE iMac" this Nov/Dec. Only time will tell....

This is my "obtain the money" approach in obtaining a future iMac system.

.

 

[cujimmy]

I fear I may know you from another forum? Have you had terrible car luck recently?

Erm... no. I'm a member of this forum only. Thankfully.

 

[bettykoyle]

its called parents make allot of $$$

so they give me their credit card?

 

[JS77]

When you're young, you have the power of youth, the looks, the energy - but not a lot of money.

The best thing about getting older is earning more. I'm 32, losing my hair and have a little gut, but I do earn £140k a year and enjoy spending it.

Work hard and you'll be in the same position before you know it.

So you can afford gym membership to get rid of the gut, right?

And 32 is not old. Just think how you'll feel when you 42... you'll wish you were 32 again.

 

[SmilesLots]

$35 X 20 = $700 per week X 4.3 weeks per month. That's almost $3000 per month. Could you forget a movie or going out to dinner and put that aside once a month. You'd easily have $1000 at the end of the year. MHO.

 

[cujimmy]

So you can afford gym membership to get rid of the gut, right?

And 32 is not old. Just think how you'll feel when you 42... you'll wish you were 32 again.

I never said I was old. I was merely pointing out a merit of getting older.

Not that it's really any of your business but yes, I do have a gym membership and have recently signed-up to a personal trainer, but I also enjoy cooking and drinking plenty of wine. I'm fully aware of my lifestyle choices and their concequences.

Is that all ok with you JS77?

 

[spiritlevel]

I earn 10 gazillion pounds a year and I afforded (yet another) iMac from the interest I earned on my savings while typing this post.

 

[cantthinkofone]

Like most of you I am enamored with the new iMacs. I'm eyeing the i7 27-inch with SSD+HD Combo.

Which brings me to my question; where do you get the money to pay for these machines?

I am a student, so I dont have much money. I dont own a credit card and work approx. 20 hours a week @ $35 an hour. I live with my girlfriend and have the regular bills to pay. Rent is a modest $550 a month.

So, how do you do it? How can you afford to drop 2g's and still survive?

Maybe I am young and naive but I would really like to know how you can afford one these bad boys

Cheers!

You make $35 a hour working part time while you are in college? Thats crazy. I'd take half that and work double the hours.

I'm debating over a MBP or a i7 iMac. Money left over from college this fall will help me get one. I'm in no rush.

 

[iFloyd]

was in the same boat as you years ago and definitely understand the struggles of making it in college financially. i don't think i would have been able to afford one in college. but now with a job and finally paying off all my debt, its easier for me to save. i've been waiting to get an imac for my business, and now it looks like the right time

 

[Queso]

I earn 10 gazillion pounds a year and I afforded (yet another) iMac from the interest I earned on my savings while typing this post.

Pauper. I own the entire world you know, including ALL the iMacs in it.

I'll lease you one if you like. Annual cost is 10 gazillion pounds....and one penny.

 

[millertime021]

Well. I'm a Sr. Awesome Man. I make $2550 an hour. I work 4 hours a day, from home, and I don't work Fridays.

That means I make $2,121,600 a year.

I can buy whatever I want.




But in all seriousness, $14/hr as an intern, I don't buy iMacs.

 

[spiritlevel]

Pauper. I own the entire world you know, including ALL the iMacs in it.

I'll lease you one if you like. Annual cost is 10 gazillion pounds....and one penny.

bugger - for the first time in my life, I can't quite afford it. But thank you for providing me with such a novel feeling.

 

[Queso]

bugger - for the first time in my life, I can't quite afford it. But thank you for providing me with such a novel feeling.

It's OK. I'll let you use a mini for free.

But only the Core Solo one

 

[notjustjay]

Uh, 2,800 bucks a month and you can't afford one?

Where does all that money go? You said rent is 550 a month... okay just for fun, throw on another couple hundred for utilities. Let's even say 1,000 a month just to live at home... Where does the other 1,800 bucks go?

(yeah, I know you probably don't take home 2,800 bucks a month after taxes, but seriously, I don't see how it would be hard for you to pull it off.)

You might be surprised.

So $2800 a month gross, after taxes might be $2000? (This looks reasonable to me as a Canadian income-earner, US tax rates could well be different).

$1000/month to pay for typical living expenses -- let's say that includes the $550 rent, $100 for water, hydro, heating, $200 for groceries, $50 for telephone service and internet service, $50 for cell phone, $50 for cable TV.

So there's $1000 left. Does the OP have a car? Car payment, insurance, gas and maintenance costs could easily consume $500-700 right there.

And we haven't included any kind of savings, pension or retirement fund, nor have we included typical entertainment expenses -- movies, eating out, sports games, theatre.

And if the OP is a student, shouldn't he be saving some of that money for school?

That might not be much left for an iMac fund (it gets much easier if there's no car in the picture, though). Though, of course, if you really want one, you'll find a way to cut back on something to save up for it.

 

[spice weasel]

Which brings me to my question; where do you get the money to pay for these machines?

I am a student, so I dont have much money.

I think you answered your own question, more or less. I was a student for a good number of years (undergrad plus an advanced grad degree), and I was dirt poor for most of that time. Working full time at a well-paying job allows you to buy and do lots of things you can't while you are a student. Computers, travel, cameras, gear, saving for retirement...

 

[JS77]

I never said I was old. I was merely pointing out a merit of getting older.

Not that it's really any of your business but yes, I do have a gym membership and have recently signed-up to a personal trainer, but I also enjoy cooking and drinking plenty of wine. I'm fully aware of my lifestyle choices and their concequences.

Is that all ok with you JS77?

I hope your Personal Trainer has a sense of humour, he'll need one to deal with you...

Oh, and for the record, when you start posting on a PUBLIC forum about how much you earn, your receding hairline and your gut, YOU are making it everyone's business.

At least we can both agree that 32 is not old.

 

[St. Germain]

I haven't upgraded my home PC since I bought it....8 years ago. I just figure that I'm due. It's mostly because I can get by pretty well on the MBPs that I have had issued to me at work over the years. I also have a job and have an additional side business. Yay for business expense write offs.

 

[St. Germain]

At least we can both agree that 32 is not old.

It sure felt old recently when I realized that Ghostbusters had come out before some of my 20-something colleagues had been born.

 

[Gregintosh]

Sell and buy. That's what I do. Look around the house for any gadget, old DVD's you don't watch, and other items you don't need. Sell them on E-bay and put the funds toward the iMac. Once your initial investment is made, the next iMac will only cost 1/3 as much since Apple stuff tends to have a high resale value.

Very true! I sold my old 2007 Aluminum iMac for $750 cash. That was a 3 year old computer (well 2 years and like 10 months). A refurb of the new ones was $999. That's only paying $250 + tax out of pocket for a new iMac.

When I finally want to upgrade in 3 years, I expect that out of the $1700 I paid for my 27" I should be able to recoup AT LEAST $1,100 - 1,200, so my next 27" iMac will cost me maybe $500-$600 + tax in 3 years.

Hmm.. come to think of it if I set aside $17 per month for the next 3 years I should have more than enough to buy a new top of the line iMac in 3 years assuming I get decent value from selling my existing one.

(Heh, makes me feel sorry for PC fanboys, where a $1,500 PC today is worth maybe $500 tops, probably less, within 2-3 years)

Full disclosure: I am married with no kids (which I hear can suck up your funds pretty quickly) and having decent/reliable equipment is a high priority for me AND the wife since we both work at home.

 

[mrfoof82]

I am a student, so I dont have much money. I dont own a credit card and work approx. 20 hours a week @ $35 an hour. I live with my girlfriend and have the regular bills to pay. Rent is a modest $550 a month.
Cheers!

So $35K/year gross? I'm guessing you clear ~$28K/year net? Rent leaves you with $21.4K.

Cutting foundation expenses (rent, utilities, food, medicine) is genuinely hard. Period. They're usually non-negotiable at a basic level.

Most people's 2nd highest expense is transportation. The best way to reduce this is to make the "triangle" between home, work, and your source of food as small as possible. If you can eliminate or significantly reduce travel, and excepting crazy places (i.e. Tokyo), urban living is 20% less than the suburbs. You also save time. A good example is here in the Boston metro area. I used to live 60 miles away. I saved 20% on rent, but had an overall 50% increase in overhead due to the commuting, and the need to own a car to get food in the suburbs.

Food can be shaved by cooking at home. Rent movies, or buy second-hand. Buy games second-hand on eBay instead of retail outlets, and wait until they're 2 years old (80% cost reduction overall). Take care of your possessions so they don't need to be replaced as often, and don't buy extra crap. Sell things instead of tossing them out (Macs have a residual value, whereas most computers depreciate 100% over 3 years). When you make more money, you don't have to spend it either. Also use credit cards as a tool (rewards points) instead of running a balance. I'm also of the mindset that you should only have to take a loan for your first car, and the rest of your life you can make cash transactions, which lowers your overall transaction cost by 10-15% (lower price buying cash, no interest payments).

Also... move upwards. I used to make half of what you do (in 2000). I refuse to settle, and always better my best (and everyone else's best). My base compensation is now 5x what it was (and 2 1/2 times what you make). Granted, I still live by my original thrifty tenets, so I save 40% of my gross pay (not net, GROSS) every year despite having a considerably higher standard of living than I used to. That can afford a lot of nice stuff if I chose, but right now it's just a giant pile of "**** you" money and a ludicrous amount of financial security.

 

[Spike88]

Back onto topic...

To me.... One of the biggest "situations" of saving up for an iMac is, "does one buy now or wait for the the "next release?" situation. For example, I "should have" enough saved up dollars for a new 2010 21.5" iMac i5 by this Oct / Nov. YES. A very nice Christmas present to my entire family. At that time, do I then wait for USB Version 3.0 and possibly a few other minor updates, or simply buy a lower cost refurb unit? Since iMacs tend to upgrade every 6-8 months, does one buy when they can afford it, or "hold off" for the next minor update? To me, this question is much harder to answer then, "how do I save up the dollars"? If one wants to buy an iMac, they will find a way... If wondering, I've already been saving for 9 months. And, I can save another 6 more months - if that's what it takes. As they say, "good things come to those who wait it out..." - so I've been told...

.

 

[3lionsbecks]

i wanna make you jealous by telling you I bought an iPad, iMac and MBP all in a month's time period.

but to be honest, its because I am old (33yrs) and my wife and I both earn very good salary, no kids and we like to buy stuff.

If you save up the money based on what you are earning weekly, it shouldn't be too long before you could buy one.

stop spending all your money on Hookers and blow.