Don’t trash your savings for a truck
My husband has two trucks, one of which is a work truck at his construction site. It’s in really bad shape, and he wants to take $16,000 out of savings to buy another one. We only have $17,000 in the account. What should we do?
Your husband wants to drain your savings to buy a $16,000 vehicle and roll it up to a construction site? I think this guy has been watching too many macho-man truck commercials.
In the real world, some hard hat will run into it with a piece of heavy equipment or drop a load of bricks off centre and put some big time damage on this truck before he puts 1,000 miles on it. He wants to buy way too much truck. This kind of decision will wreck your finances and spell bad news for the business, too.
You can buy a perfectly good work truck for $6,000 or $7,000, and that’s what he needs to do. This truck is going to get destroyed, and trashing an inexpensive truck is a much better idea than trashing the family finances.
Dave Ramsey is CEO of Ramsey Solutions. He has authored seven bestselling books, including The Total Money Makeover. The Dave Ramsey Show is heard by more than 12 million listeners each week on 575 radio stations and multiple digital platforms. Follow Dave on the web at daveramsey.com and on Twitter at @DaveRamsey
UK passport concerns are ‘hogwash’
Commission critics ‘driven by self-interest’
The good, the bad and the downright cowardly
Bermuda-linked billionaires make Forbes list
Rising Son brings in new 65ft charter boat
Dog owner accused of cruelty
Toddlers on the ball!
London lockdown after terror attack
Skyport takes flight
Charitable status set for review April 4
Companies to pay more for Bermuda ‘branch’
A lust for life
Island to reap America’s Cup telecoms legacy
Boats to race for first time
Man admits using stolen bank cards
Cheers! Relief for beer drinkers
Take Our Poll