28 November 2022

Which Pays Off More? Investing in a Car, or an IT bootcamp?

Having money in the bank is always a good thing. But, with inflation hitting 18%, savings are rapidly losing their value. Unfortunately, savings accounts, term deposits, and investments can’t prevent a slump. That’s why more and more people are trying to get the most out of their spare cash. Some buy a new car; others sign up for training courses. Are you facing a major decision? We’ll break down the pros and cons so you can make the best choice.

Which Pays Off More? Investing in a Car, or an IT bootcamp?

The first point to consider when choosing between a car or programming bootcamp is, which do you actually need more? Do you live alone in the countryside, or perhaps a small village without public transport, and you’ve got to commute to work, shops, or the doctor? If so, then a car might be a sensible choice. It would improve your situation and make life easier. However, if you’ve hit a ceiling at work or you’re burning out and need a change, then a retraining course should come out on top. It will open up new opportunities, improve your position in the job market, and could significantly increase your salary in a short period of time.

How much do you plan to invest?

The actual sum you’re able to invest will significantly impact the benefits that investment will deliver. For example, if you’ve only got 200,000 CZK to invest in a car, there won’t be much to celebrate. It won’t be a new car, and you’ll have to choose from a limited selection of used cars, which is always a bit of a gamble. The more luxurious the model, the more mileage it may have, and therefore the worse condition it might be in. Think twice before jumping into this kind of situation. Instead of improving your life, you might end up with a lemon that turns into a money pit. If you’ve got 500,000 CZK to invest in a car, you’ll be much better off. You could even find a brand-new car for this price. Just watch out for those waiting lists. Many new cars are build-to-order and manufacturing warehouses are limited. You could be waiting up to a year, and the price tag could increase in the meantime.

Fortunately, there are no such risks with bootcamp. An investment of 200,000 CZK is already more than enough to start a career in IT. In fact, if you enrolled in a Green Fox Academy bootcamp for 139,000 CZK (before VAT), you’d still have quite a bit leftover. If you want to retrain while keeping your current full-time job (programmers and non-programmers, alike) you won’t even need to dip that far into your savings at all. And if you’re considering investing that kind of money in a full-time Junior Developer Course, you can even take advantage of our popular @after payment option, which allows you to defer the bulk of your tuition fees until after you’ve graduated and started work in your new field. That way, you’ll be free to use your hard-earned financial cushion to cover your everyday expenses during the course, such as rent, mortgage, food, etc.


Short-term investment appreciation

As inflation rises, so do car prices. It’s almost commonplace for a 1-year-old car to be worth more than its purchase price. That’s somewhat of an illusion, though. You might sell your car at a profit, but it won't do you much good. A brand-new car will cost many thousands more. If you’ve graduated from a programming bootcamp, the return is more gradual and several factors play a role. The first is the salary you had before retraining in IT, and the second is the tuition payment plan you chose. The equation is simple. The average starting monthly salary for a junior programmer is 47,000 CZK gross, so it's just a matter of whether you earned more or less before bootcamp.

Long-term returns on your investment

Let’s take a look at how our decision pans out a few years later, let’s say 5. This is the moment when even a brand-new car will have lost much of its value and the costs of operation and service will begin to pile up. Big, costly repairs are often needed at this time. The car isn’t adding anything to your financial portfolio; in fact, it might be dragging you down into the red. However, if you’ve invested your money in a bootcamp, you’re totally in the clear. You’re living the life and climbing the corporate ladder. After just 2 years, most graduates already have mid-level positions; after 3, they start to reach senior levels. By then, they’re earning a monthly salary of 75,000 to 80,000 CZK. And just 5 years after bootcamp graduation? That figure reaches 100,000 CZK. From this point of view, the winner of our investment comparison is clear. If you’re ready for a career change, if you have a financial cushion, and if you’re looking for a new thrill or challenge, then come sign up for bootcamp. You won’t regret it and your investment will pay off many times over.


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