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The best financial advice anybody can get, or give, is: Buy a car you could afford 5 years ago, and buy a house you will be able to afford in 5 years time. amirite?

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This is true only in the sense that a house is a better investment than a car. In general, cars are one of the worst investments - their value drops alarmingly virtually as soon as your drive it off the lot.

The best, and only, financial advice anyone will ever need is: Keep what is going OUT at a lesser amount that what is coming IN. This usually involves knowing the difference between needs and wants.

Why on earth would you tell someone to buy something they can't afford yet?

@Frank_n_Furter Why on earth would you tell someone to buy something they can't afford yet?

Well, I'm not an economics major, but I'm sure you would receive a higher return on your investment when you eventually sell the house - property is the one thing that will never depreciate. Obviously don't get yourself into mad debt by buying a mansion in Monaco, but you get the picture, yes?

Chipss avatar Chips Yeah You Are -1Reply

Not so much for the house. Why do you think the housing bubble popped?

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