Ramsey’s advice seems to be geared toward folks will little self control. If you follow these rigid rules you will dig yourself out. While that is true, it is also extreme. A key question is how did you get yourself into the hole to begin with? Lack of self control?
It’s kind of like telling an alcoholic they can never have a drink. Nope, they can’t. But that doesn’t mean that advice applies to everyone. If you have the financial means and security to pay the note on a boat, go for it. The way prices have been going lately, the interest you pay on the note will be less than the price increase you will have to pay if you wait a few years.
