Right now I live with my parents, because I failed at adulting and only just started saving a decent amount of money 3-4 months ago.
Now that I have almost $2k saved up in my savings account, I'm contemplating buying a car.
Because my current car (which I still owe $3k on) isn't reliable in the winter and I drive far for work.
But on the other hand I could also move into an apartment closer to work.
I just can't figure out which one is more financially smart of me to do.
Most Helpful Guy
It depends on a few things. If you're happy where you are living I would invest in the car. It's amazing how much you'll miss it if you didn't have one (freedom), plus very necessary for work which is your livelihood (can you get an apartment close enough to work that you don't mind walking?). But there are many advantages to your own apartment as well so it just depends on your needs and wants. What's more important to you? As far as the smart investment, I wouldn't say one is better than the other. An apartment you're giving your money to someone else every month. A car is your asset, but depreciates very fast also.0
Most Helpful Girl
Get a new car since this is Merica and to get around any where you need a car. It's better to be driving in a car that isn't a screaming metal death trap. Than to move out of your parents house and not having a good enough car to take you places.
Though on the other hand if you get an apartment first and then save up money longer to buy a really nice car. That might be a better idea and you will be more on your own. Plus without having a newer car just yet but get an apartment. It might help you have a better idea of how long it will take for you to have enough money for the car, the insurance, etc.1