What would Dave say to do in our situation.
We have a 2013 Ford Edge car that needs a new gas tank. Cost is $3200 and the mileage is 95,000. Car is in good working order.
It won’t pass the smog test but everything else did.
We have cc debt along with college loans.
We have been snowballing our debt and don’t want to finance another car.
No cash to put down for a used car and would only get about $3,000 for the Ford Edge.
Please no rude comments as this is stressful enough.
I was advised to sell my gas vehicle and purchase a hybrid because he foresees gas increasing to $9/gallon in California. I currently spend about $350/month (about $6.80/gallon) on a 2015 Lexus that requires premium gas. I have no car payments and minimal car repairs. My thought is to deal with this high gas payment instead of getting a new car payment and higher car insurance. 🤷🏻♀️what are your suggestions?
Topic: therapy, cleaning services, dry cleaning, tutoring for kids,gym etc. things that are not a basic NECESSITY to live.
Are these in your regular budget? Or are they seen as a luxury to you? What’s in your budget that isn’t a basic necessity that you refuse to let go for your budget?
Eventually when my income gets up I’d like to incorporate cleaning services and therapy into my regular budget item.
Ok so I’m debt free and have my FF emergency fund. Now to layout my situation I’m 28 years old, my bring home pay is roughly $7000 a month. I have a mortgage and my monthly payment on the mortgage is $580 a month. What about instead of hammering the mortgage and paying off the house I just pay the minimal mortgage payment and throw a ton of money into retirement to get a head start on compounding the interest since I’m only 28 then in say 3 years I switch to hammering at the house and still invest say 20% or more but for right now and the next 3 years I invest say 40-50% of my income. Would the math workout to be more that way in retirement?