Updated 2 days ago on . Most recent reply
Financial Question I’m Unsure About
Hey! I’m 18 and have been expanding my financial mind for the past year and a half to begin my investing career as intelligent as possible. I’m stuck with a truck that has served me well but I’m working on it constantly and am not to sure it’s gonna last much longer. Should I look for a smaller truck that is reliable for a payment monthly or are there other paths I could take to not get my head in debt.
I know that taking this down payment would make me have peace of mind of knowing I can get to my job, but I also know that it will affect my ability to get my down payment in order for my first deal.
Most Popular Reply
At 18, I'd focus on reliability before investing.
If you can't reliably get to work, it's much harder to save for that first deal. A dependable vehicle that gets you to work every day is helping fund your future investments.
That doesn't necessarily mean buying an expensive vehicle, though. I'd be looking for the most reliable transportation I can get at the lowest total cost. Sometimes that's repairing the current truck, sometimes it's replacing it with something cheaper and more reliable.
Real estate opportunities will still be there. Protecting your ability to earn income comes first.