Today’s article starts the Transportation section of the How To Live Totally Free series. If you can to cut back on this expense then sell your car to save money. That way you can use those savings to invest in a business or doing whatever you want for a period of time. At the time of this post’s publication it’s a good time to sell your car in America due to the high resell prices. However, there are downsides to this decision. Let’s review the pros and cons.
Sell Your Car To Save Money Because You May Not Need It Anymore
The first reason you should considering getting rid of your car is because of Pandemic. Due to it our commuting life in America changed. Many people work from home now, while others changed careers so they could work from home. Thus, they aren’t spending much time in their cars than a year or two prior. These employees’ commutes is all of a few minutes as they get out of bed to head into their home office or grab their laptop to work on the couch.
I work from home now as a self-employed individual and I don’t drive my car much anymore. Maybe you don’t either and you want to save on car payments and insurance. You can do that by selling your car and using other methods of transportation. I will discuss those options in a future article.
The major downside of this decision is losing the freedom to jump into your car and go whenever you need to. And giving up that freedom to save money may not be realistic for some. Especially if you have a family. You can always test out this option before moving through the actual sale. I suggest trying to live without a car for a few days up to a week. Drive only one car if you have multiple or catch a ride with a family member or a friend.
Finally, let’s discuss how to accomplish your shopping and other tasks. Well, many stores deliver your groceries and other items to your door. Many retailers even deliver within the same day you place the order. Although there may or may not be an added cost for these deliveries I believe these will be less than the amount you spend on your car per year.
If you miss any of the posts of the How To Live Totally Free series you can find all the posts here.