So the results of the poll are as follows

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It  appears that most people think that saving the cash to buy something does not necessarily make it affordable.  It seems that just saving cash is to “afford” whatever you want isn’t the way to go.  A few financial gurus suggest that saving and paying cash makes it affordable.

I think it doesn’t.  Sure you can save up $50k and buy a car, but is it wise if you make only $40k/year?  I’m sure this is what many people do when saving up to buy their “dream” cars.  You’ve got the cash but the true affordability of such a purchase leaves doubts. 

One example is my post about Free House in Foreclosure.  These people won a free house without a mortgage and were still not able to survive.  Granted they were spendthrifts, but they also had to be given $100k to pay property taxes on the new home because they likely couldn’t afford the taxes on their salaries.  Thus even with the cash, the house should have been sold because it was “unaffordable”.

Thanks for participating.