Does This Pass the "Burn on the Floor" Test?

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 27 January 2024

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

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Transcript

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0:00.0	Brought to you by the Every Dollar app. Start budgeting for free today.
0:06.2	Today's question comes from Sam in Michigan. Uncle Dave, I'm 37 married with no kids yet.
0:12.5	My net worth is $1.1 million, $600 in portfolio, $500 in equity in my home, which is worth $900.
0:18.7	I make about $200,000 a year, have no consumer debt,
0:22.6	and have our three-month emergency fund. I just got into hunting, and there's several
0:27.3	shotguns and rifles I want, but the misses doesn't see why I need so many guns. Uncle Day,
0:33.2	being a man of great means with many guns, what is a fair ratio? He said, I'm also about to pull the trigger on a new Lund Rebel XL is my first fishing and hunting boat.
0:42.1	It's $39,000 out the door.
0:43.7	I'm paying cash for it.
0:44.9	But would be pulling the money from my portfolio to do so.
0:48.2	I feel it passes the burn it on the floor test.
0:50.9	What is your take?
0:51.8	Thanks so much for your time.
0:53.1	This is a fun question.
0:54.7	Live like no one else. So later you get to live and give like no one else. Well done,
0:59.9	Sam and Michigan. Wow. Yeah. That's fun. Sam, the only thing I'll tell you is is that there seems to be
1:06.4	a ratio that every time I get a gun, she gets a new expensive purse.
1:13.7	Tit for tat.
1:15.0	There seems to be a trade-off there.
1:17.8	So that's the only thing I'll tell you.
1:20.3	All I heard of hear was about you buying stuff.
1:22.5	I didn't hear anything about her getting stuff.
	...

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