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Need advice on how to spend money

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New Contributor
Read Millionaire Fastlane
Jan 14, 2008
Hey guys, don't know if this belongs here. Anyways I've almost accumlated 40k from working 6 days a week for almost a year. Anyways question is thats I'm planning on busting it all in one go for a sports car for roughly 45k.

Anyways my question is SHOULD I do this? A lot of people have been telling me "YOUR an IDIOT" if you do and to put it as a desposit on an apartment as an investment. I just wanna have responses from people who have been in my situation where they choose to drove nice cars at young age over money which could have been spent more resourcefully for long term goals and if it has affected them with regrets.

To be honest, I dont really see the point of a 19 year old working his butt off for a unit which he doesnt really need one.


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Aug 31, 2007
Portugal, Europe
Invest it and buy a 400k car in a few years :thumbsup:

Seriously, you first thought should go to opportunity cost, if you invest that $45k now can you became a millionaire at 25 or 30? Is that one of your goals? On the other hand buying the car now will mean you won't have anything to show for it in 10 years.

Other than this, one prespective I find useful to think about these issues is equating the moeny with the corresponding time. For example the $45k might afford you a completely free year to do whatever you want, start a business, travel the world, etc.

Is the car worth 365 days of hard work? If yes buy it if not keep the cash


Bronze Contributor
Jul 25, 2007
Have you thought about financing the car,
investing the money
and then pocketing the difference?

A buddy just got a car loan at 2%.
Heck even an ING account pays something like 4%.
A beginner investor, with a little research, could get about 8%.

As for whether or not a car is the right buy for you,
well, only you can answer that.


New Contributor
Jan 13, 2008
If I had $40,000, I would invest it. Think about it this way, you can buy that car if not better than it in a year or two if you play it right. My 2 cents.


New Contributor
Jan 14, 2008

You need to do some soul searching, only you can decide what you truly want.

Cars, unless they are antiques or special (like bat-mobile :)) will normally depreciate in value and is nearly always a $ losing venture. Real Estate/Apartments normally tend to appreciate in value and if you do your proper research, you will get back more than you put in.

If you do buy a car, I would recommend buying a used one. You can get barely used cars for very good prices if you patiently search.

What do you want to do with your hard earned money? Use it to make more? Or Reward yourself with a shiny new machine?

If I was you, I would look for a middle ground. Like invest 50%; put 25% in savings so you have access to it in emergencies; use the other 25% to buy/finance a gently used car.

Let us know what you decide.


BLSH :cheers:


Gold Contributor
Speedway Pass
Oct 31, 2007
Edmonton, Canada
Just to put it in perspective: $40,000 if you get 10% per year will turn into $1,000,000 in 33 years with just the effect of compound interest.

I realize (remembering) that when you're 19, 33 years seems like infinity and is difficult to relate to, but all I can tell you is the if I was 19 again and had $40k, I'd be investing it.

To put it another way, if you can't get laid driving an old beater, then it is doubtful you'll do much better in a $40,000 sports car. :)


Bronze Contributor
Jul 27, 2007
North Carolina
Im I am more your age. Let me tell you, the new wears off quickly. If you are working 6 days a week, your probably too busy to really enjoy it anyways. If you want to impress the ladies with, don't buy it. Save it, invest it when you are educated and 5 years from could be asking us how to spend a million. :)


New Contributor
Aug 12, 2007
When I was your age, I did the same thing. I spent money on new cars and motorcycles (LOTS of money).

Looking back, it was incredibly stupid. I could have saved that money and turned it into much more. Like others said, the fun wears off and then you want something else. Its a never-ending cycle.

Athough, if I could do it all over again, I wouldn't change a thing. I work so hard, I have to have a little fun here and there.

My advise is the worse financial advise that you could get, however, you have to do what makes you happy and what's the point of making money if you can't spend it? Not all decisions should be based upon financial gain!

Here's my personal rational...

The best place for me to invest my money is in myself. I know I can perform and I know I can make more. However, in order for me to perform, I need to be happy and having SOME material possessions provides a small amount of satisfaction. You can never be 100% devoted to work and investing. You have to have some diversity in your life. Having said that, I would never let a purchase hinder my professional career. I know what decision I would make, but only you can make the decision for yourself.


New Contributor
Read Millionaire Fastlane
Jan 14, 2008
Thanks for the advice guys

Athough, if I could do it all over again, I wouldn't change a thing. I work so hard, I have to have a little fun here and there.
I've just decided for now to buy the sports car, and also 2nd hand as new ones depreciate a lot fast than barely used 2nd hand cars. As Adam mentioned life is about having fun, whats the point of having money if you got not gonna spend it.

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