Quote:
Originally Posted by DaFace
He's 100% against car loans. He's not against mortgages but believes you shouldn't consider a mortgage until you're otherwise debt free, have an emergency fund, and can put 20% down.
It's not bad advice in concept, but it's just really difficult for most people.
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One size fits all... like people who say you should never ever ever buy a depreciating asset, but probably have little to back that up in terms of always being the superior strategy.
Hopefully he at least advocates investing your emergency fund money, even if it's just Discover bank (or whatever that's called) or some low-ish interest rate account where you can't lose it all.