saving money

5 reasons you don’t need a car

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Good morning Loves.  I don’t actually have a car, I used to but I sold it and that was the best financial decision I ever made.  I bought a brand new Honda Civic in 2007 and I sold it three years later with less than 30,000 miles on it.  All that to say I didn’t use the car a lot; not only that but I didn’t need it.

Car payments are very expensive

BF and I live downtown in a big city and we bought the car for the sole reason that we didn’t have one.  We quickly learned that the benefit of the car wasn’t worth the $800 cost.  Yes you read that right.  With the car payment, and insurance costs along with the gas and parking expenses we were paying $800 a month for our car.  I admit it was nice to have when we wanted to take a weekend road trip to Boston, New York or Toronto but the overall benefits weren’t worth the monthly expense.

You can take the less convenient route

Some days I miss my car; I miss it when I have to walk home in the rain, I miss it when I need to get somewhere really quickly and walking there is going to take me more time than I’m actually going to spend at the destination and I really miss the car when I have a lot of groceries to carry.  Although the convenience of having a car is nice, I just can’t justify the costs and other headaches that come with the car.

There’s a cheaper option

I liked having the car over the last two weeks because we needed it for a specific purpose, it was super convenient to drive around town and the neighboring suburbs going to Target, Wal-Mart and grocery shopping.  The entire two week car rental only cost us $360 plus $140 in gas and $30 in parking; that’s a lot less than the $800 we were paying when we had the Honda.

Think about the environment

I’m a very impatient person and there’s nothing I hate more than wasting time.  I don’t like sitting in a traffic jam with the car running or sitting at a red light waiting for my turn to turn left.  Not only is it a waste of time but it’s also a waste of gas and it’s incredibly bad for the environment.  As I sit in a car with the engine running, not moving I can’t help but think about all the pollution I’m sending out into the air as well as all the money I’m wasting on gas.

It’s OK if you need it for a specific purpose

Don’t make the same mistake I did and buy a car just because you don’t have one and think you should.  With our move October 1st BF and I rented a car for two weeks.  Our new apartment is a lot bigger than our previous living space so we knew we’d have to run a lot of errands to run such as groceries, furniture and household supplies.  It was really nice to have a car over the last two weeks but at the same time I was happy to return it Sunday night.

Photo from Flickr

About the author

TK

TK is a Certified Financial Planner with over 15 years of experience in the banking industry. She started blogging in 2009 after the market crash. TK enjoys helping people plan their retirement, pay off debt, invest wisely, live on a budget and enjoy happy financial lives. You can see what she's up to on Twitter @TahnyaKristina.

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