One of the best things you can do to save money if you are a married couple, especially if you are without ankle biters, is share a car. The first thing you can save on is obviously the cost of the car and having to make car payments. But a couple with only one car saves money in several other ways as well:
1. Insurance: $500-$1,000 a year.
2. Oil Changes: $20-$30 every 2-3 months.
3. Other Maintenance (Tires, Stuff Breaking, Wipers, Ect.): $200-$600 every 1-5 yrs
So if we took a middling estimate of the cost of the extra car, not including its actual price, you’re looking at $1,000+ a year. That’s $5,000 bucks over five years.
You don’t save gas, although it seems that many assume this. But you actually have to drive more picking up the other person.
But there are other benefits even beyond the money saved. The main one is that it seems to be good for your relationship. Mr. FLS and I are both very busy. But the time I spend driving him to and picking him up from law school is consistent daily time for us to talk and catch up on our doings and thoughts. And sharing a car make you have to communicate more. It helps build togetherness. We certainly sometimes have pangs of car envy for those with two cars, but in some ways I will miss it when our lone car finally has a friend.
But the best reason of all is that sharing car is what separates the frugal men from the frugal boys. When people know you share a car, they know your frugalness is for real. It is like a frugal badge of honor.
So dump that second car ball and chain and share a ride, share a smile.