In this episode we tackle a subject that is a bit beyond our expertise, BUT frugality can be applied to all areas of life; including cars!
We talk car maintenance, purchasing, and overall approach to vehicles that can reorient how we view transportation, while also exploring some ways to save money in the process!
We could tell you how to save on insurance or at the car lot but frugality isn’t just about saving money. It’s essentially about making fully informed purchases.
Notable Notes:
What the internet has to say:
- Kevin Mercadante Article;This Money Under 30 article looks at the true cost of car ownership and explores 6 major vehicle costs including: fuel, licensing/registration/taxes, insurance, maintenance/tires, finance charges, and depreciation.
- What Jen and Jill have to say:
- Having a car longer versus trading in seems to be the better deal BUT buy used! (depreciation will get ya)
- What Jen and Jill have to say:
- Wisebread Article by Paul Michael dives into 8 easy DIY car repairs. Paul highlights a few vehicle maintenance jobs that could be done at home for those who want to expand their skills!
- What Jen and Jill have to say:
- We love the problem solving/DIY approach!! There are some BOLD suggestions
- Check out some simple car maintenance on youtube like this one: https://www.youtube.com/user/scottykilmer
- What Jen and Jill have to say:
BILL OF THE WEEK- Thanks Hannah from Souderton, PA for your awesome Bill of the Week!! We did not know this about duck bills!
If you want to submit your bill of the week visit frugalfriendspodcast.com/bill to call our Google Voicemail.
Our experience:
- If you are wondering “how much should I spend on a car?” check out this article which gives a great break-down!
- https://www.moneyunder30.com/how-much-car-can-you-afford
- Basically, 10-35% of annual income IN CASH should be spend on a car
- Buying quality used cars in cash has been the best system for us!
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