Download the homework for this lesson:
You don’t need a new car from the lot. Buy a reliable, generic (read: boring) car that will do its job: get you from point a to point b. If you buy a used car, you’re saving the money that depreciates after you drive the car off the lot and if you buy a boring car, you’re saving money all around. Your insurance is lower, your car payments are lower, you’re less likely to get the car stolen, you won’t get into any accidents due to people stopping to stare at your sweet ride… you get the drift.
Do you need a car for every driver in your home? If you can cut down the number of cars you drive, you’ll see huge savings.
If you can’t become a one-car household, maybe you can drive the cars you own a bit less. Think about it: maintenance is only expensive if you actually drive your cars a lot! Oil changes, tire rotations… everything happens less often when you drive fewer miles.
If you live in the middle of nowhere, taking the bus might be the dumbest idea you’ve ever heard. But if you live in a big city, public transportation can be the way to go.