Quote:
Originally Posted by Humdizzle
Quote:
Originally Posted by roastbeef
i've always liked dave ramsey's approach to vehicles. one way he put it the other day was if you're buying a car for $50k and your net worth is $200k, and the car is going to depreciate almost 50% in the next few years, thats dumb. that $25k is 1/8th of your net worth and that is a hell of a hit.
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Gotta spend money somewhere. People just have to decide what percent of their networth/income is worth it for their hobby. I'd rather spend my money on fast cars and fun and an average house... than a large house with an average car. although the latter is the better financial option since houses usually appreciate. |
There is a careful balance to everything. My entire motivation for wealth building is my hobbies.