xReshi92 OP t1_j25cwwy wrote on December 29, 2022 at 7:51 PM

Reply to comment by SpiritualQuokka in Looking for criticism of my current plan for getting things on track. by xReshi92

Sorry if I misrepresented anything. My credit line does not affect my spending at all. I did a bit extra this month, but that was a unique case, which I am more than equipped to pay off quickly. I use a CC to spend based on my income, not my limit. Overall utilization is 44%.

>Right now, you've said nothing about costs other than groceries, rent & bills and debt. Most people also buy household goods, clothing, medical care, and they certainly have to maintain a vehicle if they have one. Those gaps make this decision impossible to evaluate.

This is a fair point. I budget $1,100 for general spending per month. This is an aspect I need to tighten up on more properly, as you're saying.

>That's a huge range and for some reason, you've only considered only the extremes.

As for the car, there aren't many great options between. I do see your point, but I want this car for 10 years. I want it to be worthwhile.

>You probably need to stay in your shared housing situation (or find another with similar costs)

Not an option. That said, I don't plan on moving until July. Which is why I'd rather get the car now and have some delay between.

SpiritualQuokka t1_j25hgc9 wrote on December 29, 2022 at 8:20 PM

Well, I guess since you're in the unique scenario where it will become impossible (must be illegal in your area now) to find shared housing in July, and there are only brand new cars available to purchase, I guess you have no choice here.

You're going to be in a bad financial situation, I'd start cutting other spending drastically immediately. You "one month unique" situation cost you an entire month of income in credit card debt and you have very low savings for all the things you need to accomplish. Hopefully you can cut most of that $1,100 in general spending, because you're choosing an expensive car, expensive housing and whatever you bought for the holidays over those items.