Living below your means is something that a lot of people say and want to practice but it often looks like an impossible stuff but you know, life has to be lived as some people say. I want to share little story about a friend nd i want you to tell me your opinion about the decisions they are about to make and what you advise for them.
I have friend who is married but they have no kids. My friend works and get paid $500 on a monthly basis and so he can only afford a house downtown. He has been living here before he got married and so his wife joined him there but then, his wife isn't comfortable with the environment. She wants to live in a more sophisticated and classy region with an annual rent of about $35,000.
She has been having a heated fight with my friend over a change of location as well as a continuous fight on getting a new car which is a 20th century edition worth about $45,000. She says they will pay for the car in spread within a period of 5 years. The fight has been heating really had and she is making it sure that the reason she hasn't gotten children is because she doesn't want to have one in a poor neighbourhood.
My friend has been lamenting heavily that his wife wants him to get a loan to sought out this things and he is wondering where the money to back the loan and the interest will come from. He is very unhappy with the way things are turning out to be.
What is your advise for my friend, should he go with his wife or not and what do you presume will be the solution to this?