December's "I can't afford it award"

There is a plethora of canidates this month. I've broaden my search area beyond Utah to North Dakota. I was curious to see with the current economic down turn they are having up there what I could find. So without showing every single add I found I have narrowed them down to 3.

The 3rd place winner for Decembers "I can't afford it award" goes to....
This craigslist add in North Dakota.

I think I've made it very clear my thoughts on responsibly owning a dog. Too many people let their feelings get in the way of responsible pet owning. I sound like an animal rights person trust me I am far from that. I think dogs in particular have too many rights but that doesn't mean I don't care. You need to realize before you purchase or adopt an animal to make sure you can afford it. Having an extra couple hundred bucks one month does not justify being able to afford a dog. Look at your financial foundation debt vs income and make sure you look at the whole picture before you make that decision.

The second place winner is the owner of this escalade

I don't know if it's just me but Escalade have lost popularity over the years. I used to want one 10 years ago but unfortunately since then all I see driving them are semi wealthy people or Latinos who think they are wealthy. Again this proving my point you can't have what you don't own. The bank owns this vehicle. He doesn't. Unfortunately it takes a reality check of losing a job to realize that. He's being selfish towards himself and in the end when there should of been savings there's nothing and his family has to suffer. 

The winner of December's CPA's "I can't afford it award" goes to the owner of this truck add...

There is one particular reason I chose this person. He took a photo from a different view and it pointed out something to me.

Do you see the cars in the background? Now I'm just guessing that his wife drives the Toyota to the left. He paid 41000 dollars for this truck back in July. He has lost 7000 + dollars in value in less than 6 months!! And he has his wife drive a car that's worth a quarter of what maybe even an eighth of what his truck was bought for? Are those cars in the back still being financed? He's being a selfish jerk to his wife showing her no respect with his expectations.  That truck probably has a 600 plus payment on it (plus insurance!) that's if he has the loan for 6-7 years. You realy thought you could pay 600 dollars a month for 7 years!? Why would you want to do that?

Remember this equation when it comes to taking a car loan out. A typical car loan is 5 years or 60 months. Per thousand dollars borrowed, with NO interest, your cost is 16.67. Most loans will be between 17-20 dollars per thousand borrowed.  If this truck had no interest and had he financed it for 41000 dollars his payment would be. 683.47 at 5 years. He's only made it 6 months before he realized he couldn't afford it! Stop losing money when you don't have money to lose. I have no problem with a person having cash to pay the truck off. If thats your decision fine. That person could sell the truck in a difficult time and still have something to show for it. This person has a negative 7000 dollars to show.

I'm ending my rant there MERRY CHRISTMAS EVERYONE!

next post will be the 2015 grand prize winner of the I can't afford it award.