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Is it a bad idea to make two big purchases (monthly payments) at once?

Asked by chelle21689 (7907points) April 9th, 2016 from iPhone

I am on the apartment hunt with my boyfriend and have been trying to do some calculations. I could have about $1,000 saved each month after sharing costs with him on rent, bills, groceries, etc. This also includes my entertainment budget, gas, etc.

So my thing is I want to get my own place but I also want to buy a car. I had the same car for 11 years and it’s 21 years old. It runs but is pretty junky. If I get a car I will probably save about $700 a month after bills on apartment. I guess I should take in consideration furniture but I have money saved about 40k for emergencies but it can go by quickly once I spend on appliances and furniture.

People caution me on getting a car and getting a place in a short period of time. Especially since I’ve never had “big bills” to pay for other than just my gym membership and credit card bills.

What do you think? Also, any tips on what to ask when looking at apartments? Thank you.

P.S. You’ll see another job update soon from me lol for those that follow.

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