Take a piece of paper and draw a line horizontally across the middle (side to side like the horizon).
This is your financial success calculator. If you have enough income that you can pay your food, housing, transportation,and medical expenses and save some money then you are above the line. Think of it as being afloat on a river.
If something goes wrong with your car you fix it, if you get sick you go to the doctor. You have money for emergencies and eventually you will have enough to retire.
If you made twice as much money you could have a bigger house, drive a newer car and go to fancier restaurants but your like wouldn’t be fundamentally different.
If you are below the line things are totally different.
You don’t have enough income to pay all your expenses so you pay bills late. This hurts your credit rating.
If something goes wrong with your car you miss work which lowers your income.
If you need a “new” car you are going to pay much more in interest on a car loan. You might even have to buy from a Buy here Pay here dealer whose business model is based on repeated repo-ing of a car and reselling. Not only are the interest rates VERY high but the prices on the cars are well above market.
If you can’t pay your bills then you might have a problem with Taxes which could lead to a tax lien, further complicating your situation.
You might be able to borrow some money from a PayDay Loan establishment but that will cost you dearly.