One of the biggest mistakes I see young people make when they get their first job and their licence

One of the biggest mistakes I see young people make when they get their first job and their licence is spending as much as their ego will afford.

You turn 18.

You get your licence.

You start earning a decent income.

And suddenly everyone around you starts talking about what car you're going to buy.

Not what you can afford, Not what you need., What looks good.

The mistake isn't buying a car.

The mistake is trying to buy the car that impresses everyone else.

According to Money.com.au, the average new car loan in Australia is now over $46,000, and that's before insurance, registration, fuel, servicing and tyres.

When you're young, every dollar matters.

The difference between a reliable used car and a brand-new financed car can be the difference between building savings and staying broke.

I've seen young people earning good money, living at home, with every opportunity in front of them.

But they're driving their future house deposit.

They're driving their future investment portfolio.

They're driving their future financial freedom.

The funny thing is that nobody is as impressed with your car as you think they are.

Most people are too busy worrying about their own life.

So here's the mindset shift:

Buy the car that gets you to work.

Then use your income to build options.

Because financial freedom is a lot more impressive than a car payment.

#Financialgoals #firstjob #wealthbuilding #investing #financialfreedom