Hello Nairalanders,
I am in a confused state of mind right now. And i need to make a decision. I am a 26 yr old guy and i am single. I have a business  which doesn't really provide a steady source of income as with most/all businesses, it has ''ups'' and ''downs''. But doing this business, i have been able to save some money thus, my need to decide on how to spend it wisely. And here are my options on how to spend it.

1. Spend it in furthering my education to go do my masters out of the country in a year or two (which will require me to continue saving as what i have won't be enough)
2. Buy a car as i don't have any right now. i have no access to personal transportation even from family member ( i can afford it now with the whole money saved up)
3. Invest in a business (the business i have in mind, will require a car and i also need to save more money).
4. Buy a land and start developing it. (will require continuous investing till it's complete)

Those are my options, i will appreciate your advise/recommendation in helping me decide what to do next.

Thanks.

Some options u got there.

Consider either of 1, 3 or 4

it appears u dont have enough money to do any of the 4, so your worries are a bit premature.

The money u have can buy car but wont maintain. It can buy land but cant develop it. The other 2 are still hazy.

I would advise that you make more money, while you save/invest this one, then u can consider all 4 in light of your situation when d money is enough.

If u buy a car today, will it be a liability or an asset? Will it bring u more money or take money away? Will it appreciate or depreciate in value over time? How easily can you liquidate it? Will it be for bizness or for pleasure?

The same questions apply to buying land now.

That should help you decide between the two above vs fixing/investing your money till u can consider all 4.

Assuming the money was complete, furthering your studies now is cool cos age is on your side now and the exposure might help u.

Buying land and developing it is kinda like a long term goal, and might affect your decision to travel should the opportunity arise after u embark on it. Its good at #4.

3 and 2 are similar, unless u r looking at a bus 4d bizness and it cant do 4 personal ride.

Since u r already at 2, try and get to 3 (money wise) and decide at that point if u want to travel or do bizness.

If the travel does not pan out immediately, start the bizness and when the money comes, consider 1 and 4.

If the travel does not pan out, buy land and retry the travel. If it does not pan out, start developing.

When u have finished developing, u can then channel all your energy to travelling 4 bizness or pleasure.

Thank you so much for your advise/comment so far. I really appreciate them.

@yamakuza i like your analysis a lot. Right now, i can buy a car and maintain a car conveniently. That's not a problem. I see the need and importance to get one everyday even for my present business and also personally . But buying a car now may affect my future plans (i.e Saving more for my masters or starting a new business or even building a house). All in all , i like your analysis/advise and i am putting it into serious consideration. thanks once again.

@all
Please, keep the advise/comments coming. I really need to them.
I don't mind if the moderator could help put this topic on front page to get more exposure because i believe a lot of people are facing the same decision and could also benefit from comment/advise from people. Thanks once again.

yw.

since u can comfortably maintain the car (it wont be a money drain) and it will help your business (more income due to increase in status or ability to chase more deals), it appears u r going to buy it cos u really want it.

If the car can be used for #3, all the better. If not, will the car u opt to buy have good 3rd hand value? (if its a new car, we wont be here). If so, can u easily liquidate it and (re)consolidate in future when your financial aggregation must have improved so u can further reappraise the situation then?

If i am right so far, and we agree that u cannot do all 4 at the same time, and that knowing which one to start with now will reduce your future choices from 4 to 3 and so on, the rest should be easy.

You can venture into transport business. Its very lucrative if you buy a neat car and handle it very well

But you have to be there to monitor it if not drivers & conductors will run you down.

A commercial vehicle will solve the 4 problems you listed.

1. it will generate money to buy a land and develop it
2. it will generate money for your education in the near future
3. transport is a business on its own
4. It will put your existing business and your family on wheels.

If you want to venture into transport business remember the wise saying

PRIDE GOES BEFORE FALL
And the bible says
HE WHO HUMBLES HIMSELF WILL BE EXAULTED

To suceed in transport business you need to have a lot of humility and a burning desire to suceed.

all the best.

just seeing the reply. I haven't been to Nairaland in a while. Thank you so much. I love your advise. I really appreciate it.