I just got a divorce and after the smoke cleared I got half of the equity we had on the home. So I have around $38,000. Being in a one income home changes a whole lot.
- I have zero credit card debt
- we bought a truck a month before the divorce for which I owe $500/mo
- I am currently looking for a place to Live. (I have a great friend that has put me up)
- I just got a new job making less than before but it’s a job. I make $57,000/yr And will soon be doing some. Side work that may bring in a couple hundred bucks.
My question is this. Do I sell my truck and take a $6000 loss to get into a cheaper vehicle for around $15,000? I owe $29,000 on the truck. My apr is good 3.1% so I wouldn’t be in a hurry to sell if it weren’t for the $500/mo payment. Any suggestions?
I am looking to buy a condo for around 160k. A starting over pad. I will need to put some down towards it. Then utilities etc.
The last thing I am thinking about is putting whatever I don’t use ,in these three scenarios, into a higher percentage savings account. I am very new to the investment game. The only thing I have to have is the ability to take money out without any penalties. Any ideas on that?
Thank you for taking the time to read.
Submitted April 19, 2019 at 05:02AM by kbc_FF http://bit.ly/2IGyDcl
