I graduated high school now I’m working 2 jobs. I’ll have 3 thousand at the end of this month. I don’t have rent I live with my grand parents.
(I NEED A CAR)
Only bills I have is $108 phone bill.
5 dollars for kickoff-I don’t even count the 5
I’m $260 in debt on my credit card with capital one platinum. And $205 in debt on my chase rise credit card.
I have $1,250 in a cd. At intrepid credit union. Building around 3.33% interest.
And I’ll have around $2100 to $2200 in cash at the end of this month.
I pay my bills with my credit card and pay it in full on the 1st of every month (before due date)With my bills and debt being minimum. Do I continue saving and put the majority of the money in my savings account. (After I pay my debts)So that money is up. And pay my bills with my credit card? (After I pay it off) Ofc I’ll pay my debts in full on the first. (Like I do anyway) Unless that’s not smart 🤔🤔.
I don’t have a car right now. Mine broke down so I sold it for 600, that’s part of what’s in the CD. I’m trying to buy a car. But I want a reliable one. And maybe sorta nice(not too expensive)
I have a 730 credit score. And was thinking about a car loan. I’m just not Shure if that’s smart to do right now.
Do I keep saving my money and wait for the right deal, and buy it in cash/ do I get a loan.. and use money as a down payment? Do I not worry about a car right now?
I’m not Shure my next move. Thank you all !
I’m 18 $3,000 saved up. I’m working 2 jobs what do I do?
byu/Constant_Speaker950 inpersonalfinance
Posted by Constant_Speaker950
1 Comment
Why you need to get a car though? If you have a car, you need to increase your income by so much just trying to afford it. You spend money on a car, then get a loan for it, insurance, gas, maintenance, and accessories. You are going to spend like all your money that you saved up and large portion of your income.
Have you tried consider living without a car, even just for a little while. I have lived in the US for years now and I personally believe car ownership made people go into poverty. There are people who are multi millionaires and not owning a card helped them accumulate that wealth.