Remember, I dont care what you spend your money on when your family is out of debt and continues to stay away from credit. Whether thats a house, a boat or a Ferrari - I dont give a single f___. See it all comes down to can I afford it? When aiming to see if you can make a monthly payment, all you can afford is one month of that payment. You by no means, can afford it. The only time you can afford to make a purchase is when you own the money making that purchase - in full. If you are in $80k of student loan debt and youve saved up $30k in cash by deferring your student loans, no that cash does not belong to you and you can not afford anything. You have a negative net-worth dude, every penny you see around you technically belongs to someone else! You have no money. Maybe Amex can afford it. Maybe trojan credit union can afford it. Maybe overdraft in your checking account can afford it. But you technically cant afford anything. Do the work it takes to never be in this position again. The quickest path to wealth is through patience. That my friend is what we call a Paradox- the walking dead Youll have to figure that one out for yourself.
Posted on: Sun, 06 Apr 2014 18:51:03 +0000
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