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The phrase "able to afford it" is correct and usable in written English.
You can use it when discussing financial capability or the ability to pay for something.
Example: "I would love to go on vacation, but I'm not sure if I'm able to afford it right now."
Alternatives: "financially capable of it" or "can manage the cost."
Exact(55)
All — well, all who are able to afford it —can enter its exalted domain.
"Many are not able to afford it".
Nobody will be able to afford it".
Will you be able to afford it?
I was able to afford it".
I won't be able to afford it".
The government won't be able to afford it.
''We were just barely able to afford it,'' Duncan says.
But some consumers may not be able to afford it.
So glad we were able to afford it".
"Cheap because everyone must be able to afford it.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com