When you think of car ownership, it’s easy to see it as a one-way street when it comes to finances.
Paying for gas. Gas is currently running at around a seven-year low, with only six states charging above the national average of $2 a gallon. Nevertheless, it’s an expense – and an expense that can dramatically rise with one bad day on the financial markets.
Insurance. If you’re on the road, you should be paying insurance.
Maintenance. Cars don’t run themselves, meaning you’re going to have to find the funds for the occasional tune-up and services.
Emissions testing. And so the list goes on and on…
Sometimes, bad things happen in life. You might need to rush to the side of a sick relative, or you’re at work and get a phone call saying your child is unwell and you need to pick them up. Having to organize transport when you are stressed and upset is just going to make things even worse. It also might cost you money financially, as you jump into the nearest taxi and don’t care about the cost in the moment – but it will still bite you when it comes to balancing your budget.