4.6 • 682 Ratings
🗓️ 16 March 2025
⏱️ 9 minutes
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0:00.0 | Brought to you by CHM, a biblically based alternative to health insurance. |
0:06.3 | Learn more at CHMinistries.org slash budget. |
0:09.4 | So this is probably a really stupid question, but I'm a tight wad, so I got to ask it anyways. |
0:13.9 | Okay. |
0:15.1 | So I'm in Baby Step 7, my wife and I, and we're 27. |
0:20.4 | And really the problem with my question is I feel like I just |
0:23.2 | have too much my net worth wrapped up in my house but I just recently bought a Mercedes class |
0:28.2 | all right maybe a day or two ago um and just emotionally to me feels like I spent way too much money on |
0:35.5 | something that goes down in value and it just eats me up thinking about what I could put that money on something that goes down in value, and it just |
0:37.9 | eats me up thinking about what I could put that money in that would go up in value. And so my question |
0:43.4 | is, should I take this stupid car back? Well, let's talk about what you spent on it. So after taxes |
0:50.8 | and fees and all that junk is about 35 grand. |
0:55.6 | All right. And what's your household income? |
0:59.8 | The last two years I've averaged about 250. |
1:04.5 | Well, there's some ratios for you. That puts it in perspective. How much do you have tied up and everything with wheels and motors in your house right now? |
1:09.6 | It's only got 45000 counting the Mercedes. |
1:12.9 | Yeah. |
1:13.6 | Okay. |
1:14.1 | You're driving an older car for the other car. |
1:16.2 | Dave would have said you should have bought a nicer car. |
1:18.7 | You're not doing anything. |
1:19.6 | Both of my cars outside of the Mercedes are probably worth $10,000 total. |
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