An uncontrolled hunger for extravagant and flashy automobiles is wreaking havoc on a lot of Americans’ financial lives, according to a notable individual finance pro.
Sam Dogen, writer of the blog Economic Samurai, has devised the ‘one-tenth rule,’ which stipulates homes ought to shell out no a lot more than 10 p.c of their annual profits on a car or truck.
It suggests somebody creating $50,000 a yr ahead of tax need to shell out just $5,000 on a auto, regardless of irrespective of whether it is really new or utilized or no matter whether they get it in
