When my parents were feeling the money pinch, they decided to sell their car. Good financial move right? It netted them $8000 and they didn’t have a vehicle eating up gas and insurance money any more. Well, not so good actually. They blew through the money in a month or two and now have to spend several hours walking to and from grocery stores and medical appointments.
Like many stories about my parents – please don’t follow their lead! While selling a car may seem like a good way to cut back and save some money, it does you no good if you (1) don’t have a plan for the money that you earn from the sale, (2) don’t have a plan for the money you save from not having a car and (3) don’t have a plan for how you’re going to get from place to place.
So how do you cut down on transit costs without crippling your day-to-day life? With a plan! We all have errands to run and jobs to get to. In any reasonably sized city, it should be expected that you will need to travel to get from place to place at least once in a while.
Even now, Brian and I still walk, bike or take public transit for the majority of our day-to-day life. We make enough to support a car, but… why? Over the years, we have just found that we don’t need to have a car – there’s just too many better things to spend money on!
How do you save money on transportation?