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Make no mistake about it, I love a good truck. But we have all seen the workplace or probationary promotion truck purchase the second a slight bump in pay is achieved. It is no longer a promotion for you, it is a promotion for your truck. If you want a new truck, investigate getting a truck! I only ask you: Do you need that truck? 

If you’re looking to buy a house, you should understand that a $450/month truck payment could stand between you and your ability to afford the loan you need to buy the house you really want. That is a significant payment mortgage brokers must take into consideration when calculating your purchasing power. 

Do you want to put your money into a depreciating asset that looks good getting you from your apartment to work, or do you want to living in an appreciating asset that provides a better life for you and your family? 

It might seem like tough love but if you tell me “I can’t afford a home” and you’re driving a brand new Chevy Silverado (or insert any other expensive car here) with all the bells and whistles… you don’t have an inability to purchase a home, you just have different priorities. 

Before any big purchase reflect on a good “Want vs. Need” chart and see if that purchase will help provide you not just with a sense of accomplishment in achieving it but also set you up to be more stable and successful in the future.