I'm 23 years old and I still live with my parents. I've lived with them all my life. In May I put down money on a new apartment but I haven't moved in yet (it's complicated). The apartment is all bills paid, $450 a month, plus internet and satellite included.
I make about $1,500 a month before taxes. Thing is, I need a new car. Mine has almost 200,000 miles and the air conditioner is broken as well as the gas gauge. The AC has been fixed 5 times (all for free by my sister's husband).
It's June in Texas and we've had at least 6 100+ degree days. I won't be able to handle driving around in that weather for long.
After making estimates on my budget, I've come to the conclusion that I'll have about $208 dollars left after paying on everything I need to pay for, and that's being generous.
So here is my dilemma:
Do I stay at home and get a new (used) car, or do I move out?
Here are the pros and cons for both:
Stay at Home
--Get to buy what I want/More money to save
--Don't have to cook a lot, mom/dad cook things
--Gas (I live 20 minutes from my job so it's a 40 minute commute daily)
--My dad is a jerk 60% of the time
--Commute is cut by 10 minutes
--Everything in town is right there
--Get to be alone
--My sister is literally 5 minutes away
--Landlords have a basement (we live in tornado country)
--No new car
--No laundry (have to go back to my parents house or use a facility)
--Loud (It's on a hospital and fire truck route)
My sister's husband suggests just keeping the old car. Paying to get it fix'll be less than a monthly car payment. If I don't move out then I never will.
What do you guys think?