wowens79 wrote:
Rule of thumb on how much to tie up in vehicles from Dave Ramsey, is that no more than half your annual income should be tied up in things with wheels or motors. So if you make $100k only have 50k worth of cars, campers, and boats. Paying cash works fine for me, and keeps me from swapping vehicles every few years, writing a check for $50k is much more painful than signing for a payment for go up $50.
Probably good advice although I think it would be likely that few of us on this forum live by that rule. I believe people who manage their money well can save for what matters to them. I’d like to know if Dave has a rule of thumb for the maximum percentage of a persons net worth that he recommends be tied up in things with wheels or motors?
