Pay off Car or Move Out? Advice for a 20 something

Bossyyyyy

Bossyyyyy

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What would you do?

currently, I have a car I am paying off. My total is just over $9k

I am also saving to move out. My goal is $10k before i start to search.

I have just over $8.3k in that particular savings acct. should be able to hit my goal by end of month/ early March.

I really want to move out. I’m 23 and grad from college last may, I have a good job and aspirations for higher education. I’m happy I have the opportunity to be at home, but it be feeling like I’m in hell sometimes. I also have to consider the terrible state of the housing market. Part of me finds it pointless to attempt to rent over buying rn.

All in all, I want to get the most value out of the money I have saved up. Any thoughts/ comments are welcomed
 
BrehWyatt

BrehWyatt

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If you are asking whether you should deplete your savings to pay off your car or just move out, then the answer is to move out.

Don't know where you stay but what you have put away so far is MORE than enough to finance a move. The housing market is trash, but last I heard it's a seller's market right now and would be a fool's errand to buy. I don't keep up with those happenings enough to know for certain.

The right answer is to continue saving as much as you can so long as you are able to stand living at home. Don't leave until you can do both unless that at-home life with your folks is really :damn:. If so, then go ahead and move out.

The fact you have that kind of $ put away at 23 not only puts you ahead of most at your age, but it puts you ahead of a lot of people who are married, living on their own, etc. PERIOD.
 
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UpAndComing

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Bossyyyyy said:
What would you do?

currently, I have a car I am paying off. My total is just over $9k

I am also saving to move out. My goal is $10k before i start to search.

I have just over $8.3k in that particular savings acct. should be able to hit my goal by end of month/ early March.

I really want to move out. I’m 23 and grad from college last may, I have a good job and aspirations for higher education. I’m happy I have the opportunity to be at home, but it be feeling like I’m in hell sometimes. I also have to consider the terrible state of the housing market. Part of me finds it pointless to attempt to rent over buying rn.

All in all, I want to get the most value out of the money I have saved up. Any thoughts/ comments are welcomed
Click to expand...

You want the real?

Go to a low cost of living city and get a low cost apartment. Start your career, save money, and continue to make the monthly payments on the car



And don't pay off your car in full, why in the hell would you do that :dead::dead::dead::dead:
 
Wildhundreds

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UpAndComing said:
You want the real?

Go to a low cost of living city and get a low cost apartment. Start your career, save money, and continue to make the monthly payments on the car



And don't pay off your car in full, why in the hell would you do that :dead::dead::dead::dead:
Click to expand...


Not having a car note is beautiful.. Especially when you have a car.
 
DJSmooth

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You have a job or career? At 23 if you are making decent money I'd honestly wouldn't move out till around 26. You could come out with enough money to buy a house and your car paid off with strong emergency fund.

Why do you want your own place? Just to get more p*ssy? Get your bread up. :martin: ..or Bussy looking at your screen name. :dame:
 
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