Average car loan in the US is $726.  Maybe there’s room in the middle for less car and more savings?

BUT!!!! How many of the 60% are paycheck to paycheck in part because they spend too much on their car loan?

One of the big problems with Ramsey is he does not seem to be capable of adding quality of life metrics into his formula.

I don’t think about sticker price or payment nearly as much as I consider cost of ownership.

Do they not have mechanics where you live?

I am queued.

20% of cars in US are leased. That’s a crowd that always has a payment. The average loan period on cars in the US is just under 70 months. The average ownership period for a car is 8 years.

“He’s not exactly wrong that you’ll have a lot more money if you invest $500 more per month for 40 years vs always having a car payment, but what percentage of people actually do that?”

The apple doesn’t fall far from the trailer.

The guac is just another symptom of their decadence. Some of them even chase their tacos with a Jaritos.

Maybe if you didn’t recklessly spend all that taco money you’d have the house of your dreams?

Wow…I don’t get this. The Lexus GX Luxury trim is terrible. If you want a street SUV, get a better riding unibody luxury crossover, The best thing about the GX is the truck/Prado bones underneath. I could see a wealthy dumbass getting suckered into a bad spend on an Overtrail, but a Luxury? Why?

“One thing is for sure though, housing prices and cost of living have more regional variance than wages.”

A lot of people my age are full of shit. We came up during a lengthy period of low rates and extended market growth and accumulated assets when there was far less scarcity. Then many of us pretend good fortune and timing had nothing to do with it. We convince ourselves that is was only our blood sweat and tears and…

Sorry for second reply but I can’t agree more about the criminal rates that CC companies charge. But sometimes it doesn’t take a moron to get derailed and into debt trouble. Sometimes people’s lives take an unexpected turn and they don’t have a safety net to help them balance the books.

I use artificial discipline via autopay.  I am not the king of organization.

I bought my first house in early 2000's. The rate was around 5% on a 25 year fixed. Now people are looking at close to 7%. Believe it or not, in the market where I first bought, the housing prices did not fully recover their pre 08 crash numbers until after 2020 and are nowhere near double, let alone triple their…

Yeah, I bought around then too. I went with a 25 year but doubled payments and eventually had a second property blow up for a big return which I partially used to pay off my house. Sometimes when I get on my high horse about younger people trying to figure out a much different housing market, I have to check myself.…

This should be more common.  Most retailers set the price and we all pay the CC price.  At that point it only makes sense to use a card with an incentive.

Merchants have been paying around 2% fees forever (they range from 1.5-3%), cash back incentives didn’t change that.  CC companies are using cash back as a marketing expense.  Most of their customers pay far more in interest than the benefit provides.