Ramsey Networks, Apple discussed on Dave Ramsey

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Get an eight it's an eight episode podcast at Ramsey networks easy to download from any podcast anywhere you get podcasts out there whether it's apple or Google play or whatever it is you're using Spotify wherever it's at it's a all of them you can get it all and you'll hear a lot of comments from Anthony Tyler is whether scholars in Michigan I Cuyler welcome the Dave Ramsey show thank you for having me on the number you entered into good how can we help well so I recently started your baby steps I had to actually restart baby step one I had that done it was done to I only had about twenty five hundred mask are great baby step two but had to tap into my savings to it's electric car repairs down so I'm working on now but my question for you today is I have a year left on my sleeve and next year I should hopefully have this all goes to plan about ten to fifteen thousand saved up for a car and I'm wondering what you recommend if I should use that call to purchase a used vehicle in cash or step down in vehicle until around five thousand use the additional money that I have put that in as well into an emergency fund how old are you calling nine twenty seven twenty seven how much debt are you in right now about twenty five hundred twenty five just credit cards no student loans no student loans and you're talking about putting fifteen thousand I was into a car ten thousand me ten thousand dollars into a car in coming back and paying paying off the debt that I hear that correctly well I would be paying the debt off before I purchased the vehicle after I finished it is a matter how much you want me to put ten thousand the car and then start your emergency fund or do you take five thousand on the car and five thousand on the emergency from I'm doing five thousand on the car five thousand emergency fund I mean you're young you're you're a smart kid so right now I'm going to say do five thousand dollars not been honestly it's not rebut them out despite a reliable car you can actually possibly find a reliable car for twenty five hundred dollars a caller so do the research may get out there and see what you find in the confines of the twenty five hundred you should be able to get at least two months in your babes at number three with seventy five hundred dollars at your age right now yeah so the principal color that we're using to answer the question is that a five thousand dollar car is a necessity or three thousand or something whatever and there you know a basic car is a necessity the difference from a five thousand our car a ten thousand dollar car is a luxury yes and we don't do luxuries until you have the emergency fund in place and so because you would be at baby step three doing your emergency fund buying a nicer car is not an emergency from five to ten jumping up from South America ten thousand cards not in some emergency show Anthony's exactly right that's why we would say let's go and do the five K. car and put five K. in your emergency fund and then let's get that emerge from built up if you want to step back up in Carl further later than you would save up and do that you know add to it later in a year a year and a half something like that you're gonna be in a position to do that Layla is whether Selena is in Arizona hello welcome but I ran he shot I am so excited to be speaking with you you too what's up well you're not you're guiding I work at.

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