You Make Large Purchases (car, condo) That require Monthly Payments Equivalent To Your Monthly Income
Say you earn $2,000 in monthly income. Ironically, your car note and rent takes up 90 percent of that. Who are you really trying to impress? If you can’t afford it, don’t buy it. Your monthly bills should reflect your monthly salary. If you’re making used car money, you should be driving around in a used car, not in a 2012 joint.