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Why I would rather invest in property than an expensive car

Standard Bank’s mobile app offers pre-approval for vehicle finance needs

Growing up makes you realize that you need to have clear financial plans, these days, the youth is fixated on what kind of car one drives and how much it costs.

Although this is a crucial part of our lives, embarking on a new journey of self-discovery and understanding and evaluating why you’re buying the car is important. A lot of my peers appear to be “making it” out there, but I strongly feel they are not sending out positive energy to the universe, let alone some kids that might look up to them.

While perusing Instagram, I came across images that depicted the kind of lifestyles led by my former primary school mates. There, most of them flashed their new cars and it became the battle of who drives the most expensive car, how fast is it and how much it’s worth.

Of course I don’t blame them, we all deserve to celebrate in life, but I fail to understand why a person would buy a car that is worth R750 000 when they could buy their own house. Although I did not blame them, I found the exorbitant amount of money spent on fast cars quite pompous and not a smart financial move.

We do know that you can’t drive your house to work but having such an investment ahead of you at a young age is a milestone. It ensures that you are secured and although owning a car has its pros and cons, having a house is an asset that will most likely not lose its value as rapidly as a car.