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Ask Dave

Bad Boat Deal

Matt is on Baby Step 2 and has a motorcycle he's selling. He's been presented with an offer for a trade. He'd get $2,000 cash and a boat. Dave advises Matt to get out of debt and not do this deal.

QUESTION: Matt in Ohio is on Baby Step 2 and has a motorcycle he’s selling. He’s been presented with an offer for a trade. He’d get $2,000 cash and a boat. Dave advises Matt to get out of debt and not do this deal.

ANSWER: I think we traded one recreational vehicle for another and didn’t get all the debt paid off. It’s not the Dave Ramsey universe. It’s the Matt universe. What are Matt’s goals? If Matt’s goal is to get out of debt, this doesn’t meet your goal. If Matt’s goal is to get a boat, this meets your goal. At this stage of the game, is this your goal?

It sounds to me like you’re trying to get out of debt and you need somebody to tell you not to do this deal. Don’t do the deal.

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