This series of posts is an analysis of my own spending. See the introduction post here.
I know our transportation costs are high. Once we pay off the car loan that will reduce my expenses significantly. In my ideal world I wouldn’t own a car, but my husband needs one for work, and it is convenient for grocery shopping and travelling.
1 Of course, many of the 2014 items (gas, maintenance, bus costs) are estimates.
2 All these expenses are split equally between my husband and me. As I am only analyzing my own spending I’ll be focusing on my portion, but for easier comparison I’ve included totals and annual amounts in this chart.
3 Car insurance in Manitoba is public (government-run) so there aren’t many ways to adjust the cost. We have a higher deductible, and good driving record, which reduces our rate somewhat. We drive too often to switch to the occasional-use plan. I prefer to have a high liability amount, just in case. Sometimes we get a rebate when the company is profitable but I don’t anticipate one this year.
4 My initial estimate didn’t include gas expense during our vacation, so I may end up over-budget. When you do extra driving do you count this as gas expense or a travel/vacation expense?
5 As our car is so new hopefully this will continue to only be routine maintenance for the foreseeable future.
6 After much consideration, we chose to buy a new car in 2012. We have a four year loan at 0.9% interest. We could have paid cash, but at the time our savings accounts were paying 2% so it made more sense to finance the purchase.
7 I take the bus most of the time, but not quite enough to make a bus pass cost effective. I use bus tickets, which are a lot cheaper than paying cash.