Spend some money on entertainment and fun. Look at it as a necessity because enjoying life is. You're young and have lots of time available in the market. Don't become financially reckless but enjoy your life.
You want to be back in the housing market in 2 to 5 years where do you plan on sticking your down-payment money in hopes that it will keep up with housing prices?
I have no cash savings now. If I lose 40% in a crash that's still more than I have today. I understand the risks and fear being priced out of the housing market. That's the issue I'm dealing with. I just feel like you have to regroup and take your chips off the table sometimes. I bought the house with no financial buffer and if things work out I'll have one for my next purchase.
I would look at salvage yards for your motor. I'd bet you can find one for under $800 usd. I'd pull motor and swap. Brakes are super easy and cheap. I'd say under $500 usd. I'd look at zero percent credit cards or other cheap credit options to finance repairs if you can't cover them. Then I'd pay on the car til it's paid or I came across a steal. You can save yourself a lot of money doing it yourself and there's info easily accessible.
Spend some money on entertainment and fun. Look at it as a necessity because enjoying life is. You're young and have lots of time available in the market. Don't become financially reckless but enjoy your life.
You want to be back in the housing market in 2 to 5 years where do you plan on sticking your down-payment money in hopes that it will keep up with housing prices?
CD's, bonds, and dividend paying blue chips stocks until the rate hikes stop, then prob put 40% in index ETFs like VTI.
And if the market crashes and you lose that money?
I have no cash savings now. If I lose 40% in a crash that's still more than I have today. I understand the risks and fear being priced out of the housing market. That's the issue I'm dealing with. I just feel like you have to regroup and take your chips off the table sometimes. I bought the house with no financial buffer and if things work out I'll have one for my next purchase.
I would look at salvage yards for your motor. I'd bet you can find one for under $800 usd. I'd pull motor and swap. Brakes are super easy and cheap. I'd say under $500 usd. I'd look at zero percent credit cards or other cheap credit options to finance repairs if you can't cover them. Then I'd pay on the car til it's paid or I came across a steal. You can save yourself a lot of money doing it yourself and there's info easily accessible.