Don't buy new cars until....maybe never!

We are enjoying this class so much! He is just so straight forward when he calls you decision STUPID....and you KNOW he is right--but he has a gift and you don't get angry--you laugh with him.....then go to work on fixing the problems.....make that budget--use cash--make your money work for you!!!! He teaches most weeks a new word for many--NO!!!!
As a parent, I have learned to never say never....unless you like to eat words....but I will go out on a limb and say we will NEVER buy a new car....unless....well Dave says unless you have a million in the bank....but I will say UNLESS I can pay CASH!!!! He showed opportunity cost this week.....and talked about immaturity....so I want to share two of his pearls of wisdom this week!!!

Opportunity cost....
His friend wanted to buy a 1986 Mercedes when he made 6 figures...and he made 6 figures in his early 20's....went and test drove the car...sucked in the smell, looked at the symbol of Mercedes on the hood and steering wheel....the symbol for him that said he had arrived.....he had $40,000 in a mutual fund to pay cash for it....he wanted it...oh he so wanted it and had worked for it and was going to pay cash for it. He told the salesman he wanted to think about it overnight......he went home and did his financial calculator and knew he could not buy that car!!!! Opportunity Cost made him say NO!!! 12 years later he pulled up next to someone with a temporary tag on that same 1986 model Mercedes......he asked what he had paid--the man replied BOOK vlaue......$4000.....$36000 less than what it cost new 12 years earlier (WHAT KIND OF STUPID INVESTMENT IS A NEW CAR???) His mutual fund--the one that had $40,000 was now worth $300,000....so tell me what was the better investment?? Easy answer for me....and like Dave, who will tell you he is going to step on toes.....I am not trying to offend but for me--it is ridiculous to pay--that much for a car....the highest I could stomach would be $25,000 and let me tell you that makes my stomach hurt....so don't look for that to happen! I have financial goals for my family and car debt is not included in that.....I don't like bondage and that is what debt is!!!
This is long so I will just say that the immaturity pearl is about the inner child that wants it....DON'T let him make you buying decisions!

Godliness with contentment is a great thing.....be content with what you have a new car, purse, shoes, outfit, house...whatever it is that you think will make you happy if you only had....well news flash--IT WON'T...if you are not happy with the car you drive or the house you live in etc....a new one may please you shortly but there is something else lacking--and the thing won't fix it!!!

Who can find a virtuous wife? For her worth is far above rubies. The heart of her husband safely trusts her; so he will have no lack of gain. Proverbs 31: 10-11

Women talk to your husbands--make your opinions known--work together!!! You are supposed to be one so you need to act like it!!!! This is STRAIGHT from Dave....many times we don't want to make our spouse upset or tell them no but Dave points out you are doing an injustice by not speaking up.....