Hello Everybody.
Im new here and am learning everything i can do to pay off my debt. I am a 24 y.o. mom who is currently $26,000 in debt. Ive actucally been introduced recently to the dave ramsey cash envelope system and the baby steps to get out of debt.
Heres My Situation:
I sadly got laid off from my job in December and have been having problems finding a new one. I am very limited to applying for positions only in my little town due to the fact that i do not have a car of my own and my family require me to pay gas money every week to take me to my job (if i find one that is and the farther the location the more money i have to pay for gas)paying gas isnt the problem..the only issue is that my family is not very reliable. Ive had a couple instances where i had to call out of work because my family member i had already paid gas to was no where near the area to take me to work. Its a very tough situation for me as i can only depend on this one person to get me around transportation wise and Uber or public transportation is very costly.
My Question:
As stated above i am currently trying out the envelope system to budget myself but i do have a couple hundred dollars saved in my emergency fund and i do have my taxes coming up soon. Should i buy the car when i get my tax money (the car would be a paid full =no car payments) or should i use that tax money to fund my emergency fund and start paying my debt which could take years and then buy my car?
**Note: of course i wouldnt buy the car without a job first and by the way it would be my first car so basically anything under 2000 that is safe and will get me from point a to b is acceptable.
Thank you so much in advance for your advice everyone!
And if you need any additional info or for me to explain something better just let me know.
Thanks again!!
Im new here and am learning everything i can do to pay off my debt. I am a 24 y.o. mom who is currently $26,000 in debt. Ive actucally been introduced recently to the dave ramsey cash envelope system and the baby steps to get out of debt.
Heres My Situation:
I sadly got laid off from my job in December and have been having problems finding a new one. I am very limited to applying for positions only in my little town due to the fact that i do not have a car of my own and my family require me to pay gas money every week to take me to my job (if i find one that is and the farther the location the more money i have to pay for gas)paying gas isnt the problem..the only issue is that my family is not very reliable. Ive had a couple instances where i had to call out of work because my family member i had already paid gas to was no where near the area to take me to work. Its a very tough situation for me as i can only depend on this one person to get me around transportation wise and Uber or public transportation is very costly.
My Question:
As stated above i am currently trying out the envelope system to budget myself but i do have a couple hundred dollars saved in my emergency fund and i do have my taxes coming up soon. Should i buy the car when i get my tax money (the car would be a paid full =no car payments) or should i use that tax money to fund my emergency fund and start paying my debt which could take years and then buy my car?
**Note: of course i wouldnt buy the car without a job first and by the way it would be my first car so basically anything under 2000 that is safe and will get me from point a to b is acceptable.
Thank you so much in advance for your advice everyone!
And if you need any additional info or for me to explain something better just let me know.
Thanks again!!
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