My Parents Keep Hinting for Me To Move Out (I’m 18)

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 13 November 2024

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

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Transcript

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0:00.0	Brought to you by the Every Dollar app. Start budgeting for free today.
0:06.5	I just don't know what to do in this situation. I'm 18 years old. I'm turning 19 in February.
0:12.3	I have a $5,000 car payment, and I work at a light duty mechanic shop. My mom and dad don't want me to live with them anymore.
0:20.9	They'd like me to kind of move out of the nest.
0:23.3	So I was just wondering, like, would be worth putting down payment on a home and just
0:27.4	rent-no bedrooms while living in it?
0:29.8	Or should I get, like, a rental area and rent with a friend or something?
0:33.6	I just don't want to, I don't want to screw myself over in the future with loans and stuff.
0:40.1	Yeah, I tell me, you know, I have to pay for my schooling.
0:41.8	When you said a $5,000 car loan, do you owe $5,000 on the note, or are you paying $5,000 a month?
0:48.3	Surely you're not.
0:50.4	It's $224 every month.
0:53.6	Okay.
0:54.7	But the total is $5,000?
0:55.7	I took the low money.
0:58.0	The total is $5,000.
0:59.8	Yeah, that's what I have left to pay.
1:01.6	I had it out for $15,000, and I paid $10,000 down within a whole entire year.
1:06.2	Okay.
1:06.6	Good for you, Nick.
1:07.5	How much do you make a year?
1:08.5	How much are you making working?
	...

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