You know what, it is bold, but that is how you build wealth. Dave Ramsey calls it "living weird," because people earning $100K are driving in $2,500 vehicles while they get out of debt and build savings.
You can't build wealth borrowing money for an asset that ultimately has a value of zero. And building wealth isn't about becoming rich so you can blow it like oil barons. It's about security, peace of mind, and knowing you will be able to maintain your current quality of life after you stop earning an income.
So, yes, it's a bold statement because it means not driving even a nice car for most people. It means not eating out when your friends call. It means not having instant access to every entertainment option or, worse, simply having your local library as your primary source of entertainment.
These are the sacrifices you make now, while you are still in control of your financial future, so you don't end up at the end with a life full of regrets.
I haven't used a credit card or borrowed money in seven years. It's been the seven most rewarding years of my life, because I'm a slave to no one, and I can actually look at my short-term and long-term future and see it getting better.