I am currently still hunting for a full-time job. Fortunately, things are picking up for me- my current part-time job has extended my hours to more or less full time (minus the benefits associated with working full time; I’ll write a pit thread on that later) and I’m currently in the process of trying to get hired at a stable full-time job.
If all goes well (knock on wood), my income will almost double, jumping from $19,000/year to $36,000/year. Its still not that much, but for a guy living alone I’m optimistic since I’ve managed to survive on the lower amount for several years now. The major perks I see, though, are employee-covered healthcare and paid time off. Those will technically boost my cashflow even more. Right now I have to deal with the high costs of poverty- high deductibles on my car and health insurance (to even be able to afford them), credit card debt, and no renters insurance. In short, I’m living independently on borrowed time and I know it, hence the drive to get a better paying job to afford to build safety nets.
My goal is to pay off existing credit card debt (about $3,000) and maybe have about that much as an emergency fund. Once that is done, I want a new (affordable) car.
When I told some of my friends I really want a brand-new car when I get a new job, they told me it would be a bad idea- the increased insurance costs and intrest on car payments wouldn’t justify having a brand-new vehicle. My current car runs okay, but it has 97,000 miles on it and if it died on me today I wouldn’t have the money to replace it. I feel like having a new car (with a warranty) would give me more long-term reliability, since planned expenses seem less expensive than unplanned expenses.
If I did buy a new car, I’d get something <$20,000, with good mileage and reliability. But my friends insist on sticking with another used car.