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If youve built up a nice nest egg, whats the harm in splurging?
According to experts, if you dont have $50,000 saved up this is a big no no.
One splurged on a luxury sports car, then couldnt afford payments after a job change.
Despite a high income, debt costs left little for life goals.
After selling the car and paying the loan,building an emergency fundlet them start a family.
Mafe Aclado, finance expert and general manager ofCoupon Snake, advised the same.
Below are someluxury items you shouldnt splurge on before having $50,000 in savings.
Especially when it comes to maintenance and insurance costs.
Blain agreed that you should avoid high-end vehicles.
They devastate your financial cushion for emergencies like job loss, health issues or family crises.Patience and practicalitypay off.
Build the emergency fund, then allocate to rewards responsibly.
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