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Chilltopjc t1_ivvw17h wrote

When I got rid of my car I did the same kind of math. I found out I'd be saving a net of about $700/month, and that does not include parking (I parked on the street). That was 12 years ago, so inflate to 2022 dollars.

  • Car payment (I had a cheap used car so my payment was low)
  • Insurance (expensive AF)
  • Avg monthly gas+tolls
  • Assumed $1200/year on repairs, oil changes, other maintenance spread out to $100/month
  • Assumed a parking ticket per quarter

And then there's the cost of a driving commute on your blood pressure and mental health.

Plug in your own expectations into an excel/sheet and see where you land on the expenses side of the equation.

If this job means you won't need a PATH monthly, you could count that savings against the expenses. You'll probably still want to uber and take transit sometimes though for times you're going out, alcohol, don't want to deal with car/parking/traffic, etc.

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