Quote:
Originally Posted by se15679875
There are all sorts of rules of thumb for house (~2X annual salary) or car purchases (10% monthly income). What's the rule of thumb for a luxury watch?
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IMHO, these Suze Orman rules are marginal at best for financially challenged that can't do simple budget and need some hard rule to fall inline to a social norm. X2 annual salary for a house? I guess majority of people that want to buy a crap shack in Culver City or Santa Monica will at least need to make 400k+ a yr to be consider financially responsible. With median household income in LA hovering just above $42k, guess most people can only afford to buy a tent down some back street alley in SoCal
