He wants to get a cheap, newer car... how that will cause financial downfall, I don't know. Finance is about balance. If you get a small loan, save a little money and set aside a little for common use, you're well off. No use in conserving as much income as possible for 2 reasons: it causes stress in your everyday life and you can't live life expecting to live in 30 years and THEN spend your money. Live a little while you are.