Buying a car when you are young always seems like the start of adulthood, going where you want, when you want but with this comes expenses and costs that are required to be paid up when the time comes, such as petrol, insurance and taxes. It may seem like the pathway to freedom but in the long term it is a big money consumer. What makes it worse is that insurance prices are more expensive for young drivers and gas prices are rising day by day. The fact that there are other means of transporting, means ditching the car and making some money could actually benefit you immensely. So let’s dive in deeper…
There is no doubt that Insurance premiums are your consuming savings and limiting you from investing into other things. When you are young the notion of owing a car is high but so is the price to run one! Making the decision to run a car can be limit you from the basic costs of other food as there are other areas in our life that we need to look after.
Many people run into the problem of the lack of space available to park, especially outside your home if you live where there are main roads, it can be really hard to find a suitable space for the size of your car, and sometimes you just have to roll with it and park wherever, even if it is not ideal. Another issue is parking tickets, there are many parking lots that require you to pay additional money to park in the allocated area and use the supermarket, go into town and any other activities. Parking tickets can be charged at $100 in some cases when over powering the duration of your stay, which is understandable but is a huge drain on your savings. Maybe you would be better off running the bus or train life, with no need to seek parking spaces!
It is fair to say that petrol is a constant burden for drivers, especially for those who run cars with a bigger engine that requires more juice to run. Spending money twice a week for a petrol refill can be a drain on money if you have a budget on how much petrol you are going to spend on. Gas prices have shown to drop but they gradually rise and cost much more per litre for average car runners. It can be a strain financially under the circumstances of how much you travel, car size and make of the car.
These days traffic is extremely busy, everywhere you go as there are so many cars and probably will be many more in the future. Rush hours are the worse, in stand still traffic, petrol being wasted and people who don’t know how to drive! It puts your patience to the test but can also be frustrating, furthermore sitting for so long is not healthy and the man walking on the pathway is getting more exercise than you as well as getting to his destination faster.