this post was submitted on 06 Oct 2023
605 points (94.2% liked)
Technology
59284 readers
4289 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Experts say you should not spend more then 30% of your income on housing (shelter, heat, water, sewer and electricity). If you need a car (live outside a city, have bad city planing, etc.) then this is one more pressure on people.
The current “normal” world exists now only for people making a lot more then the average.
Oh and to better illustrate the gap between prices and wages: https://en.wikipedia.org/wiki/List_of_countries_by_average_wage Compare to an average price of 48k https://www.caranddriver.com/news/a43611570/average-new-car-price-down-still-high/
Honestly you shouldn't even spend that on a car. Cars lose value overtime and are a bad investment.
Take your money and put it into a emergency fund or retirement
This is bad financial advice I hear all the time. People don't buy cars as an investment, they buy them as a consumable item or a form of entertainment.
Nobody says you shouldn't go to the movies because it doesn't generate a return.
I think you're missing the point. Purchasing a utility item for its utility is fine, just don't splurge on a car when that money is far batter put into housing, healthier foods, education, etc.