I want to move out sometime next year and find an apartment/house for rent, for me & my daughter and I just don't know for sure is it possible financially to be able to pay rent and maintain my car note & insurance I have on it. Anyone have any suggestions or comments on what I should do?? My car note is currently $350.00 and my insurance is $245.00 a month. I'm considering re-financing my car to see if that will lower the payments and precentage rate. I really need to move though and it looks as though I can't get rid of my car, because it's being financed. So please please any advice, suggestions or comments on this will be greatly appreciated.
2006-09-21 02:55:33 · 3 answers · asked by myzznetta 1 in Business & Finance ➔ Personal Finance
okay so I'm working with net pay of about $650.00 bi-weekly. I hate that pay schedule. Anyways and I'm living with family right now and they want $50.00 a month for me staying there. And like I said my car note is $351.93 & Insurance is $245.00 the insurance is a lil high cause I'm a new driver and recently had an accident. Plus I have life insurance Im paying about 88.00 a month on. Other than that no other expenses...so I guess I can't move in this condition...Any other suggestions, or advice ??
2006-09-21 04:59:12 · update #1
You haven't given us enough numbers to work with. If half of your income (almost $600) goes to the car then you better not commit to a lease! No more than 1/3 should go towards rent. Check the classifieds for garage apartments owned by individuals, you can find good deals and not be stuck with freaks living all around you.
WHY is your insurance so high? I have full coverage for less than $85 per month.
2006-09-21 03:43:40 · answer #1 · answered by mickeyg1958 4 · 0⤊ 0⤋
Make out a budget with your known income and known expenses. List everything. If the income exceeds the outgo (leave some uncommitted funds for emergencies) you can move out.
Hint. Re-financing you car digs the hole out of which you have to climb deeper. Make certain that you owe less on the car than it is worth. There are free, non-profit credit counseling agencies available to help folks if you get stumped.
2006-09-21 10:13:44 · answer #2 · answered by DelK 7 · 0⤊ 0⤋
If you have a little extra time in the evenings you could earn some extra money online please visit this website and view the presentation for more details if you have questions please let me know Best of Luck www.makemoney.vjms.net
And Remember it's not how much you make, it's how much you spend!
2006-09-21 10:39:00 · answer #3 · answered by randyssgirl25 2 · 0⤊ 0⤋