Need some advice!
Hey guys! I'm trying to figure out my next steps.
I've really been babied all my life. Despite working and having a decent job I never started paying rent or putting away. If you're willing to help please keep reading!
I make between $800 and $1200 bi-weekly (I work flat rate so my paycheck always changes and it's never less than $800 but can very rarely reach $1500. But for this purpose I am low balling it.
I drive a Cruze that's 2012. I need a vehicle that's a 4x4 (a Silverado; I only drive chevrolet)
Now I'm wanting a 2016 silverado. The payments bi-weekly are about $320-$330 (so roughly $660 a month)
Now I was told to put away money each month and to live like I was paying rent so I have an idea of what I can afford and what the real world is like.
So I've allotted rent to be VERY LOW at $700 per month (by the way I live in Toronto Canada so that's not even a hole in the wall but this is just me prepping for the real world)
So if I make let's say $1700 a month, I'm left with $1000 after "rent" then left with $440 after car payments. Gas would run me $300 a month and then insurance is $130 leaving me with $10/month.
Is this crazy? Please share your input! Much love
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