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

[getmoney310cpt]

If you do decide to pay off the car i hope your not gonna trade it in and make payments on a newer car.

 

[-DMP-]

I would get rid of the debt cuz it had interest. Then take what I was paying and combine what I was already stacking. You’ll be in a much better situation and will accrue your money back faster.

you got your whole life to pay bills and be miserab… I mean an adult.

take advantage of being young and stack as much while you can and your parents let you.

 

[Arianne Martell]

Not completely depleting myself. When I got my job, I opened like 5 diff savings accts. The one I’m talking abt in particular is just for moving out, also the savings acct I’ve been most aggressive with.

i am trying to take advantage of the student loan moratorium right now as well. My thought is that it would be good to pay the car off, and have one less bill. Then by summer/fall I should be able to move out

I’m really grateful to be living @ the crib but it’s tuff man. It don’t even be feeling like it’s my place fr, but on the flip side, whether I’m buying or renting it’s dumb expensive.

i just feel lost as hell

You need to focus on your finances and make sure you are moving up in your career field so you can earn more income.

Are you being abused at home? If not, trust whatever issue you are having is so minor and non factor when you are finally debt free and able to make moves with the money you saved as well as established in your career.

 

[Bossyyyyy]

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. ..or Bussy looking at your screen name.

I’d call it more of a job, others a career.

I want my own place because: since moving home, it feels like life has been on pause. I’m really far away from everything/ everyone (basically fomo). I am not in walking distance of anything.

Being @ home again is ass and I don’t think it’s great for me mentally. I help w paying for things cleaning etc, but you ever get the feeling you done overstayed your welcome w someone? I be feeling like in that regard I can’t win. I want a place to finally call my own.

I feel like getting my own place 100% is a lot of responsibility to jump straight into. I’d like to have roomates or something, other option is living w my girl but I’m not certain I’m ready. Also, considering I want to go back to school -likely later this year- being @ home provides a great sense of security

 

[Bossyyyyy]

Thank y’all boys for the advice it’s greatly appreciated

 

[Darealtwo1]

This is a no brainer. Just pay off the car and leave debt free.

 

[CrimsonTider]

I would get rid of the debt cuz it had interest. Then take what I was paying and combine what I was already stacking. You’ll be in a much better situation and will accrue your money back faster.

you got your whole life to pay bills and be miserab… I mean an adult.

take advantage of being young and stack as much while you can and your parents let you.

Why use 9k when you don’t have too.


He should pay the car off over time, keep his savings and move out

Any other advice is not good advice

 

[Hijo de luna]

Sell the car. You can't afford it.

 

[malbaker86]

DON'T MOVE OUT!!!!!!!

If you don't have to move out, why do it when you don't have to especially if you have a plan and can continue on with going through with that plan? STAY HOME AND DON'T PAY OFF THE CAR.

If you're questioning it, you're not ready because you'd know the answer already

 

[AVO]

Pay off your debt and stay at home as long as possible. Once that cars payed off you have that whole payment to put toward savings.

 

[Kurt off them percs]

Get a nice ride, buy it straight out. fukk C-notes.
Get a home first before you even consider getting a new car.

 

[MajesticLion]

I’m happy I have the opportunity to be at home, but it be feeling like I’m in hell sometimes.

Unless you're the kind of genius that needs to taste the poison to know it's a bad idea, man up and appreciate what you have at home. At this point it's more than likely you have no clue how deep "hell" can go. Humble yourself so you don't have to find out the hard way.


The only caveat possible to that is if you're in an abusive environment.

 

[Conan]

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

1. Stay at home for as long as you can tolerate. Stack. Don't blow the money you saving on dumb shyt or dumb broads.

2. Don't deplete your savings paying the car loan off unless you got a ridiculous rate. Continue to make regular payments on time. Plus it helps your credit. If you want to buy a house, this will be a positive factor.

3. That money you saving, don't leave it in a savings account. If you are planning to rent, put aside enough for an emergency fund plus a security deposit. The rest, buy index funds. Put in a Roth IRA or an investment account, and forget about it.

4. If you are planning to buy a house, don't blow your entire savings on the down payment + closing costs. Leave enough so you still have a good chunk available in case shyt comes up.

But your biggest advantage now is living at home. Find any way to stretch that out until you've saved a good amount. Don't make a move out of desperation.

 

[50CentStan]

If u got a shytty interest rate on the car pay it off. Otherwise keep paying it monthly if its 0 or some great rate

 

[trapnerd]

I say pay off your car, and stay home as long as possible. Stack your bread as long as you can.

The only way that moving out v. paying off your car makes any sense is if you are buying a property.