TomG2 wrote:
A fellow at work was told by his dad to save for a house, which he did. Trouble was, the price of houses went up faster than his savings. He didn't get a house, until his dad passed away.
Borrowing money for something you don't need that depreciates as rapidly as a new truck is not a wise financial decision. Neither is paying cash for a new loaded up King Ranch but if you make wise financial choices when you're younger you can easily justify throwing away a few thousand dollars on a new truck once in while. Borrowing money for an asset that is expected to appreciate in value, like a house, is often a very good financial decision. I had just as much fun camping with my $2500 Chevy and borrowed camper as I do with my $80,000 Ford and 5ver.
