It isn’t cheap to have a car. Take the car payment out of the equation entirely. Everything else simply adds up regardless of a car payment. The gas is its own frustrating expense. Vehicles can break down at any time. It’s all a bit too much.
Below is a step-by-step guide for managing car expenses over time. It begins by setting up the monthly costs and budgeting the potential problems and the expected maintenance.
Budget the Guaranteed Expenses
How much will it cost to just keep the car going where it needs to go? There are two main expenses that have to be applied. They can’t be avoided and are normally included in the main monthly budget. These are insurance and the gas.
Make sure these things are properly factored into the monthly budget. People miss these necessities. Leave a little buffer room.
Set Aside the Maintenance Fees