STUDIES suggest that the average person is estimated to be exposed to between 500 and 5 000 advertising messages per day.
We are flooded with advertising messages persuading us to dress a certain way, live our lives a particular way or drive a certain car.
These have the potential effect of making us feel insecure: am I looking good enough, how should I be living my life, what car should I be driving?
These messages are further amplified across social media platforms by influencers and ambassadors who represent and punt specific brands.
You can start doubting yourself and the important life choices you make.
However, if you are making your purchase choices responsibly because it is what you can afford, rather than what you desire, you are making the best life choices.
Getting into debt by making purchases that stretch your budget beyond your means, whether it is a big-ticket item such as a car or a pair of shoes, is not a responsible financial decision.
“The priority for young graduates when purchasing a car should be that they are able to realistically afford it, while ensuring that this additional asset does not compromise their financial situation. Instead, it should contribute positively to their new work lifestyle and sense of independence,” WesBank retail’s communications specialist Kutlwano Mogatusi said.
Don’t let peer pressure or the advertising messages cloud your judgement in terms of purchasing the car you can afford.
The general rule is that you shouldn’t spend more than 20% of your total income on car repayments.
It is also important to budget for the other expenses that come with car ownership such as fuel, insurance, maintenance and service costs in addition to keeping up with all other financial commitments to maintain a positive credit history.
Being financially responsible could mean opting for a more affordable car, while putting your dream car on hold until you can afford it.
It is unwise to put yourself under unnecessary financial strain as you start out in the workplace.
“Choosing the car you can afford – and not necessarily the one you really want – is an indication of exercising financial maturity, discipline and independence that can only benefit you in the long run,” Mogatusi said.
