Last January, I gave up my car and went ‘car-free’ for the first time in 20 years (I lived in NYC in 1998-1999, which was the only other time I was without a car since turning 16). I’ll get to the reasons why in a minute, but the headline is that I saved over $10,000 in 2018 compared to 2017. Cool, right?!?!
Now for the breakdown on how that happened:
I was spending around $1,000/month on vehicle expenses when I had my car; occasionally more, but this is a reasonable baseline. This was mainly the lease payment and the insurance (which was getting out of control at $234/month). I didn’t drive that much, so fuel was never a big factor. So, a total of around $12,000/year to have a nice car that was parked the vast majority of the time. Continue Reading…