Shocking right? more so if the stats were to be narrowed down to Black South Africans only, but that’s a story for another day, lets play along to this illustrious rainbow nation. 90% in a crazy percentage, meaning only 1 in 10 people who have cars can afford that car; and the rest being the 9 are just plain right chance takers who got swayed by Balleritis (The compulsion to live beyond your means).

I’m always curious whenever someone tells me they wanna buy a car, I think I’ve gotten to the point where I care about people’s financial well-being to a point were I cut through all the BS and ask if they really need a car? if they currently have one I’ll ask if they really need to get rid of the current one and most importantly can they afford another car?  the rule is your first car or any car you buy in your late twenties determines your retirement. The thing about bad financial decisions is that they are contagious and they become a part of you, one silly unplanned reckless spend always leads to another more so because of the environment that you create around yourself that always leads to attracting people of the same baller traits… Ballers hang around other ballers, that type of company makes it okay to do whatever regardless of it being bad for you or not, lets call it mob psychology.

It can be seen by the way we young black South Africans splurge money that its new to us, something like new money… We compete with everyone around us not knowing what circumstances that other person has come up under. Too much of the media and music videos have channeled our perception of wealth into that of having flashy materials that you flaunt for everyone to see.

But anyway back to the #moneymonday advice I have for ya’ll today. Expensive cars can be a burden in the long term, they attract heavy insurance costs, they are more expensive to maintain, they adjust your outlook of yourself and prematurely make you think that you have made it, they bite away from your future financial freedom and piss on your potential blissful retirement. A 5 year long expense needs some serious planning, you aught to be realistic with yourself on what you can really afford, outside elements should never be a driving force behind a huge purchase; whenever I say this people come at me on some if the bank approves the car finance then that means you can afford it… Really? All banks have that I got your back illusion until you default on your bond or car finance then you’ll really get to see their true colours, a bank is a business, it cares not about you, its there to make money and they certainly do not care about your financial well-being… But anyway, its your money, so do you if you insist.

“At the end of the day you only have yourself and the bank teller to impress”

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