Gas: $226.75
Tithes: $114.00
BLOW Money: $101.00
Grocery Store: $77.33
Entertainment: $13.00
Lawn/Home Care: $25.00
Bills: $298.17
401K: $45.00 (not including 50% employer match)
Dental Ins: $12.00
Oooo Weee. Look at that gas expense. It’s hard out here for a professional driver. My husband is a freight and logistics contractor and he travels everyday.
We plan to purchase a used KIA this weekend since it will use less fuel to operate. We currently spend roughly $1,350.oo a month in fuel. We plan to offset this by getting the KIA which will use roughly $900.oo a month in fuel. Below is how we decided to get a small loan for another car.
VAN (Work/Family Car)
Gas $1,300.oo
Inurance $92.oo
Auto Loan $450.00 (Will be paid off in September 2008)
Car Tax $7.92 (1/12 is $95.oo)
Total $1,849.91 a month for (Automobile #1)
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If we no longer use the van as a work/family vehicle and purchase a used smaller car for work this is what it will look like financially to operate both the van and car each month:
VAN (Family Car)
Gas $40.oo
Insurance $92.oo
Auto Loan $450.oo (Will be paid off in September 2008)
Car Tax $7.92 (1/12 is $95.oo)
Total $589.92 a month for (Automobile #1)
CAR (Work Car)
Gas $900.oo
Insurance $75.oo
Auto Loan $300.oo (18 month loan complete August 2009)*Will be paid off by Feb.2009
Car Tax $ 5.00 (1/12 of $60.oo)
Total $1,280 a month for (Automobile #2)
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Total cost to operate both Automobile #1 & #2 ($1869.92)
Total cost to operate just Automobile #1 without a second car ($1849.91)
Difference (-$20.01)
* Hubby doesn’t have to turn down work to take us to doctors appointments (my son goes to the allergist once a week)
You sound like you really have this figured out. I wish I was as organized with these things. I know that money is just math, but money has me confused right now. I am trying to figure out a way to track my spending.
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It sounds like you have thought this thru on every level and you seem to be making a wise decision. During our recent round of car trouble I was sure wishing we had a second vehicle. I think a 2nd car, if you can afford it, is almost always a wise investment, especially in your case where your hubby has to use it for work.
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It sounds like a good plan. BTW, KIA’s are great cars. DH and I voth drive one and love them. Good luck with it.
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