[IDKBRO]

Originally Posted by Likeanowl

A rule of thumb I always went by for any purchase I ever made in life with the exception of a home was if you cannot afford to buy whatever it is in cash, at the time of purchase, 2 times over, then you cannot afford that item.

I am not saying you have to pay for it in cash, but if in your savings/investments/liquid assets, you do not have enough to pay for it twice over and still have a good cushion left, then I say don’t buy it. Again, only exception is a house.

With that being said, I make a very modest salary but because of that rule I have plenty of money saved, was able to buy it in cash, and currently have $0 in debt, and owe nobody anything outside of standard monthly bills. But to each their own.

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