Should I Finance a Car and Then Live in It?

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 24 April 2025

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	Brought to you by the Every Dollar app.
0:04.3	Start budgeting for free today.
0:06.7	I have found myself like in 14 months
0:09.6	that I've been to say United States.
0:12.6	I've been into this loop and I,
0:15.7	and my income is like very low
0:17.3	and I can't seem to bring it any higher
0:19.3	because I don't have any experience.
0:27.3	I'm server at restaurant like I make about 3k per month. So I was thinking like should I avoid rent and then buy like a SUV and I kind of live in it until I save up some money and get some some
0:40.0	skills or is it a stupid idea? Where are you living now?
0:46.0	West Haven, Connecticut. Now, where? Like, are you renting an apartment? Are you living with
0:49.9	family friends?
0:50.7	Yes, my apartment is about like $650 per month. It's not much, but my income is also very low. Okay. about like $6.50 per month.
0:56.3	It's not much, but my income is also very low.
0:57.0	Okay.
0:59.0	No, $6.50 sounds very reasonable.
1:00.5	So what's wrong with that?
1:00.9	Yeah.
1:04.0	Well, how are you having trouble keeping it together?
1:07.5	Did you take on debt?
1:11.0	I have like $4K for down payment.
1:18.1	Then, yeah, I was thinking about financing one and then put the rent on the, on the finance car.
	...

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