More of us need to be considering dropping a car from our lives – especially as so many of us are now working from home indefinitely! Are we even using those vehicles?! But even if you are going in to work everyday, it’s time to question whether or not it makes sense to continue paying nearly $800 in order to own and maintain that vehicle. Transportation costs are typically the 2nd largest expense we have every single month so getting rid of a car can have a massive effect on your monthly expenses. On top of the positive financial ramifications, there are other awesome side effects too. We’ll dive into all of those benefits as well as how you can go about owning one less car in this episode.
Additional resources mentioned in this episode:
- We mentioned Charles Montgomery’s book, Happy City, where he found that “a person with a one-hour commute has to earn 40 percent more money to be as satisfied with life as someone who walks to the office. On the other hand, for a single person, exchanging a long commute for a short walk to work has the same effect on happiness as finding a new love.”
- We referenced previous episodes: Why Commuting to Work is Killing You and another where we focused on how Simplicity Breeds Better Results.
- Here’s a great article where Joel explains how his electric bike was a game changer.
- Personal electric scooters are allowing more folks to cut a car from their lives. Here’s Wirecutter’s recent pick for the best scooter for 2020.
During this episode we enjoyed a Ourison by Tired Hands Brewing! And as we’ve ramped up the podcast with an additional Friday episode every week, we could really use your help to spread the word- let friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money in these difficult times!
Best friends out!