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Simple question: I'm recently out of debt.
I've been thinking about getting a new car, using an up-coming bonus as either a downpayment or as the whole thing, depending on how much it turns out to be, but now I'm thinking it'd be better to get a used car and make a start on a cushion for buying a house.
I'm about to start a new lease at just over $800/month on my apartment, which is what gets me thinking this way. A coworker suggested I could go for a no-money-down mortgage, as a first-time buyer, but I don't feel I have enough cash in the bank just in case my job goes away or some other kind of nasty thing happens.
So far, I have a few grand in investments, a few grand in the bank, and some retirement investments, which I refuse to touch if I can avoid it. It makes more sense to me to go for the new lease renewal and just save like crazy this coming year. What say you? And thanks!
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