It’s not cheap to live with all the conveniences of modern life. Back in the olden days, they might not have had clean water, heated homes, televisions, and so on, but life was much cheaper! Nowhere is the expensive cost of living felt more sharply than with our cars, which are essential if we want to be a productive member of society. They’re much more expensive than getting around on a horse! But is your car costing you more money than it should? Below, we take a look at some ways your vehicle can affect your bank balance more than it should.
Always Behind the Wheel
You’ve got a car, but no-one says you need to drive it everywhere you go. If you’re automatically getting behind the wheel every time you leave the house, then you might want to consider looking at changing your habits. It’s possible that you could significantly reduce the amount of money you spend on gasoline and parking just by opting to take public transport every now and again. Or you could take the really crazy option, and use your legs to get from A to B.
Poor Driving Habits
Of course, this won’t always be an option. If you’re going somewhere away from downtown or taking a long trip, then you’d got to get behind the wheel. However, it’s still possible that you’re spending more money than necessary. Not all car journeys cost the same! It’s all about the MPG. If you’re driving in a way that promotes good MPG, then you’ll be visiting the gas pump much less than other drivers, and you’ll save big money, especially when it’s spread over the course of a year. So if you’ve just been driving, however, feels right, look at changing your driving to a style that’ll save you more money.
You’ve got to have insurance. There’s no getting around it! But you don’t necessarily need to be spending as much as you’re currently spending. There are plenty of people who automatically renew each year, not realising that if they shop around, they could save a big percentage on what they’re currently spending. You’ll also want to update your details to reflect any changes in your lifestyle that might help get your insurance costs down even further.
Involved in an Incident
You could have the best driving practices, inexpensive insurance, and a reliable car that never breaks down, and still end up in financial difficulties because of your car. If you’re involved in an accident, then you might find that you’re unable to work, have expensive medical bills, and also have to pay some expenses to get your car back on the road. But if it wasn’t your fault, then why should you end up in financial trouble? Instead, look at accident injury attorneys legal solutions, and get the compensation that you deserve. You don’t have to be out of pocket just because someone else made a mistake in their vehicle. Always fight for justice.
Bad Buying Decisions
The companies who advertise cars do a terrific job. They can convince people who already have an entirely functional car that it’s a good idea to upgrade to a newer model. While there’s nothing wrong with buying a new car, it’s important that you factor in just how much this will affect how much your car is going to cost you. If you are going to invest in a new vehicle, then make sure you’re doing some research on the depreciation values. Some cars lose their value much faster than other cars, which will make a big difference when it comes to selling it in the future.
How To Lower Costs
So we’ve looked at the many ways that cars can cost you money, but how can you save money? If you’re spending too much of your money on just getting around, then look at doing the following: set up a car-sharing service with people in work. If there’s four of you, then you’ll have instantly slashed the amount you spend on gas each week. You should also be proactive with maintenance; it’s much cheaper to spend some money keeping everything in tip-top condition rather than waiting for something to break and having to fork out a lot of money to fix it. And as we said earlier, one of the best ways to save money is to…leave the car at home, and use public transport. Your car doesn’t have to destroy your bank balance!