Does it make sense to save something now?
Hello!
I'm 20 and have saved around €20,000-25,000 so far.
We often hear about inflation, and my (wealthy) parents are of the opinion that it's not a good idea to save everything we can at this point, because money is becoming less and less valuable. When I save, I always think about how I want to be able to afford a house or at least a condominium, for which I need to have a good credit rating (20% equity). Borrowing money from my parents to be creditworthy, like my brother did, is out of the question; unfortunately, I'm too proud for that.
After I graduate, starting salaries are currently around €3,500, so probably around €3,700-3,800.
Unfortunately, my car failed its MOT for the second time today (after I had repaired everything, which was really time-consuming, two new defects were discovered) and I simply don't have the time or desire to put any more money and work into my car; at some point it's enough.
That's why I'm currently looking for a new car and am considering fulfilling my long-held dream of buying an Opel Monterey. It'll cost around €5,000 for one in top condition with no defects in its new MOT.
There are cheaper and more modern cars available, but you can hardly find anything usable for under €4,000. A Corsa or Meriva aren't really my cup of tea; I wanted something the size of an Astra CarAVan or Zafira, as I often need to transport things.
Or should I really look for something cheaper and invest some of the remaining money? Unfortunately, I don't know anything about this, but so far I've always had a good nose for the right timing with Bitcoin. I've just never invested anything, and honestly, I'm more of a safe-play person.
Oh yes, I get about 2500 – 3000 € for my old car.
Thanks in advance for your opinions and tips!
(1 votes)
Loading...
It’s okay to spend some money if it doesn’t make any sense like your car. If you would now want to buy a new car or a protz brand, just to specify before others and thus use a large part of your money, I would advise you, but that sounds like a solid plan.
If you want safe investment forms, then leave the fingers of Bitcoin. Yes, this can go further up and become an accepted form of payment, but it can crash at any time. In the case of shares, for example, the company value is behind it, with Bitcoin only the purchaser’s acquisition.
Before it is on the current account without interest, a daily money account with a few interest is definitely useful. Then use the time to inform you on the Internet about various money systems, while taking the respective risk and how liquid it is, the plan how long you want to save it.
So, why do you even need a car?
Even if high savings rates are used on the Internet for flexing, money is completely fine in young years. You will never be healthier and freer again than now and from memories you can draw strength for your life.
Bitcoin is a great money-burning machine. You make profit if after you enough other people still powder money into it and the mining farms don’t have to quickly swap their bitcoins back into real money to pay their electricity bills. Whoever’s left is zero.
Because I’m working on Saturdays and I’m not driving a bus on the country weekends. Unfortunately, I’m still on the car if I have to go to university to get to the station at all. Unfortunately, it’s a little bit shit with us, but I think that was a good idea. After I was quite disappointed again today, I’ve been seriously considering whether I need a car at all.
But unfortunately it is not without, because that would save me a lot of costs.
Top condition for 5,000€.
I think he’ll be around the 25 years old or older and at least. 200,000km… do you call it the top condition?
That’s ridiculous!
I don’t think that’s ridiculous. VW T1 Samba and how they all are called are also marketed as a TOP state, and they are almost 70 years old.
The Monterey is a really sought-after vehicle from connoisseurs because it can keep on the ground with Landcruiser and G-Class and has solid technology.
The body is fully galvanized and therefore relatively rust-resistant. 3.1 liter motor and 114 hp speak for longevity and yet solid performance.
In addition, he has a very good equipment in the LTD version for the time being. Seat heating, el. mirror, el. window lifter, el. antenna, heater (extra), power steering, headlight wiper/washing system, air conditioning, circulating air. (yes, my previous car has not everything) And spare parts are still sufficient.
Under TOP condition, I understand when the TÜV is free of defects, which is 8 times new, and toothed belts and glow plugs are made. I also understand that the interior looks like new and there are very few scratches or dents outside.
I am not clumsy for myself, or I would have had my previous car scraped two years ago. Cost estimate 4000-5000 €. I made it myself at €400.