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No one is going to loan you a penny if you want to conceal anything.

That's great for the other guy's insurance company, instead of paying for the actual damages, they will pay you $500, let you take the hit for making a claim against your own policy which will probably raise your rates, and let your insurance company pay for everything else. It's a scam and dishonest, you should go through the other driver's insurance all the way. If they still give you a hard time, call your insurance and tell them what happened.

I know exactly what they’ll do if OP takes this offer. They will cover OP’s damages per their collision policy, and promptly tell OP that they will need to find a new insurer, because they will no longer do business with OP.

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Become a famous musician or actor.

I think that depends entirely on your interests, existing skills, and location. What skills are in demand locally (or do you anticipate relocating?). What do you have aptitude in?

If you like to be hands-on, learn trade-related skills like welding, soldering, and/or plumbing. With a little more math background, electrician skills are good to pursue.

If you're more academic, get the skills that fewer people have (which often means STEM). Learn to communicate well, learn people skills (Dale Carnegie's "How to win friends and influence people" is surprisingly relevant and excellent).

It's really hard to become the best in the city/state/country at something. It's much easier and lucrative to get really good at a few things and then be one of the few people who possess that niche set of skills.

At your age, one of the more attainable skills is to learn how to use a spreadsheet really well. See youtube/coursera/etc. Think about how to use it not just to calculate, but to plan projects, track tasks, and to view/slice data (it can be used, for example, to sort sales by date, product type, time of day, location etc -- can you see the possible relevance and value?)

401k is protected in bankruptcy.

So, no, never do it under any reason.

If you earn enough to pay off the cards within the next year or so, then tighten your budget and pay it off.

If you don't make enough to pay it off in a year get the debt reduced or consolidated under a lower interest loan and then tighten your budget and pay it off.

If you won't be able to pay it, at all. Take the L and file for bankruptcy. Start over.

Not really. Frankly, when you are single and have no kids AND no crazy debt, your rent/utilities are your big expense. If that is being provided free of charge, that is a massive support.

You can buy it with minimal risk since you can live for nearly free whenever you are unemployed.

Alright I'll double check but I bet that's it

This is exactly what i feel.

I want this car. Its been what i wanted since forever, but it might not be the wisest. Also cities are bad for [ new] car, but my parents apartment IS in a NICER neighborhood

As for family, my parents are old, dont drive or speak english, and as they age more will need help getting around. Also i mean having a sedan for 10 years down the line for my own family.

As for buying used - yes, except i want the features in the 22/23. I can get these slightly used too for slight cheaper. Just put the new price for more conservative calculations and consideration

Oh sorry taking money out of banks

Well, your contractual relationship with your insurance company says that as part of your contract with them you agree not to accept settlements on their behalf. They’re encouraging OP to essentially take $500 so they don’t have to pay their deductible, and then go to their insurance filing a claim with the caveat of “I have already accepted a settlement regarding this matter and as such you cannot pursue the opposing party’s insurer for compensation”

And so your insurer will then cover your damages per your collision policy, but then they’re going to go ahead and raise your premiums (or just drop you).

What does “taking money” mean?

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My parents are actually very poor. They dont even work right now, drive, or speak english. They have their own expenses and finances sorted out comfortably but i wouldn’t expect them to take care of anything for me. Only provide me the free rent.

Im planning all the finances only considering my own.

Does that change much?

You raise good points, but really I think it depends on the terms of the 401k loan. You’d have to read the plan document to see what it says about the interest. I was more so saying don’t do a 401k loan because of potential penalties if you don’t repay it back in a certain amount of time, mandatory holding periods must be reached or there’s required 20% withholding, etc.

I was thinking of other factors too like building / rebuilding credit, how much of an account balance is in there vs how much is in credit card debt

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My co-worker broke his hip last month, ardent biker. Any means of transportation can be dangerous, bikes lot more in my area.

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If I remember correctly, the IRS can set up a payment plan for up to 5 years at the base interest rate without much hassle. Of course it’s smart to choose less time.

I was going to pay ~30 k down and pay off the other 15k on a loan

Your last bit about “right now” is ideal.

I should wait but i also want this car to drive me across the country for the move

24k after tax is horrible. I’m 23, live on my own in a 1 bed apt - make $17.15 an hour and still made $36k this past year according to my W2 which I have no idea how. Doesn’t make sense. I work a lot of overtime. My bills are $1200-1400 a month and I don’t have car insurance. I make more than 2k after taxes a month working a basic job. I love my job but if I had no family- I would have nothing to eat.

Don’t be like me. Save for bills. Don’t settle. The highlight of my year will be a vacation I would have almost saved 18 months for. Just cause you don’t have rent right now, don’t be comfortable in that salary. If you have no kids-you have no social safety help. And yes, I have degree but my job doesn’t require anything. So especially if you have a certain skill set, 24k is not good enough.

It doesn’t matter at all whether or not she reported an income change during the year. Regardless of what was reported or not reported, a premium tax reconciliation has to take place. If she received more premium tax in advance than her final income qualifies her for, she has to pay it back. There are limits and safe harbors in the tax code so she might not have to pay it all back. But what income change was reported to the marketplace is completely irrelevant to what premium tax calculation being done by the IRS and there is not a way to challenge it.