Author Topic: To have a beater or car-free  (Read 1929 times)

Frugal-T

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To have a beater or car-free
« on: April 21, 2013, 10:52:50 AM »
Hey guys thanks for hearing me out and happy to finally be a member after read MMM and ERE for so long. My dilemma, if I may, currently I am deciding whether to go car free or car-lite (I just sold my financed car). I owe a tremendous amount in student loans from my anti-mustacian past so here are my stats.

60k student loans (GAHHHHHH)
Job w/ takehome ~2000 a month (more with OT but of course never including that in the budget)
Expenses
Rent/food - 200/mo (live with the rents)
Toletries, allergy medicine, misc 40/mo
Fun 160/mo (thinking about cutting that in half)

$1000 emergency fund that I want to slowly build up to 5k

Pretty much everything goes towards debt or emergency fund. Now I am leaning towards going car-free as I have been biking to work about 4 days a week in the last 2 months. The mental blocks I'm having to badassity are that I live 6 miles from anything, most of my friends like in a town 30 miles away (I have biked there before but winter time hurts) and the fact that we get fairly deep snow 6-10in storms quite often.

What are your guys opinions on this, is deep snow going to be an issue? I could buy a hooptie for <700 and have it for the off chance, but insurance and cars are just so brutal for the budget. Thanks so much and sorry if this was quite a rant, darn you coffee!

Paul der Krake

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Re: To have a beater or car-free
« Reply #1 on: April 21, 2013, 11:21:59 AM »
How long do you plan on living with your parents? Do they have a car you can borrow every now and then rather than having your own (don't forget to give it back with a full tank)?

A beater can be very cheap to own if you do it right, but you better be ready to deal with repairs and know what you're doing.

Relevant MMM article here: http://www.mrmoneymustache.com/2012/04/18/news-flash-your-debt-is-an-emergency/

Frugal-T

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Re: To have a beater or car-free
« Reply #2 on: April 21, 2013, 11:38:22 AM »
Hey thank you for the quick reply, also excellent article drop, really helps with the slap in the face that I need.

I will likely live with them for at least the next 2 years, not the best for  anyone but really helps with the budget. I probably could borrow either of my parents vehicles or my sisters (who also lives at home). I'm definitely leaning towards no car.

Also I am fairly good at auto repair but I truly hate doing it, so that may be a good thing to avoid.

Dynasty

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Re: To have a beater or car-free
« Reply #3 on: April 21, 2013, 07:43:01 PM »

I will likely live with them for at least the next 2 years, not the best for  anyone but really helps with the budget. I probably could borrow either of my parents vehicles or my sisters (who also lives at home).

This is an American cultural thing to think 18 and on your own. Many cultures have three generations living under the same roof. Think of the savings! Three generations contributing to one rent. Grandparents to take care of young kids, while the parents are at work. Not having to spend money on day care.

 Enjoy the 200/month while it lasts. Might want to consider staying at home until you student loan debts are completely paid off. Plus an extra 10k in an emergency fund. And maybe even a healthy amount saved for a vehicle, if you live somewhere in the 90% of America where an automobile is required.