DSDP Don wrote:
My point......ONLY you know what you can afford.
Either you can pay the payment or not.
This discussion often NEEDS to happen......with a little less of detached 3rd parties getting their panties all in a bunch. ;)
Many people really honestly don't know how to properly determine whether they can afford something or not and just making the payment in your current situation very often isn't the most important factor.
Unfortunately, the people who need help making an intelligent determination are often the ones who are the most offended at the mere mention of someone else "butting into" their financial situation.
Offer polite advice. If they don't want to take it......let it drop. And don't butt into someone else's conversation if honest advice is being offered.
Back to the original question:
I don't think you can use a percentage to get a GOOD answer.
My opinion is: Finance your house and then work on getting yourself in a position where you can PAY CASH for everything else.
That might mean that you have to wait a few years for a new car or boat or motorcycle or RV but you will learn financial discipline in the process and that is more valuable than any "thing" that you can buy.
