A car or a house?

While discussing with some young friends about life and finances, a question came up and it goes like this:

As a young person, "if you had a certain amount of money to buy a house or a car, which would you choose?"

As expected, many people gave their different views on the matter. While some said they would opt for a car and clearly state their reasons, some said they would prefer to build a house.

However, here is my take on the matter. Buying a car is not a bad idea and building a house is not a bad move either. Both options are great, but are these the perfect things to do with your first big buck? It's one thing to buy a car, but how much will the car generate?

My point of view

I believe that it is better to make investments or start businesses that yield enough money or profit to build more than one house and buy as many cars as possible. Rather than stunt money by choosing to purchase just one of the two and then end up there.

Investing in something more profitable is much better than buying a car just to pose in the city. It is equally better than going to build a house that will not generate income.

Also, before going for a car, you should always think about the maintenance factor. On the other hand, how much profit will building a house bring to your wallet? These are the things to consider as a young person just starting out in life.

We often talk about sacrificing short-term ratings for long-term gains. This is a typical scenario. Getting a really nice car or building a nice apartment when you were young is something you take pride in. This is a short-term win for me because neither of these two things substantially increases your financial standing.

While you can think long term by betting this money on a promising business or investing it in a solid project. By doing this, you may not see profit right away, but over time, it will give you a steady stream of income.

With this income, you can build houses or buy cars and still have the ability to adequately maintain them.

These are my thoughts on the matter. If you think differently, your views are very welcome.