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Besides Bitcoin, obviously haha.
It was 2017. My girlfriend now wife decided that having 2 cars was just stupid and a waste of money. So we both sold our vehicles and bought a 2017 Ford Focus Hatchback. We got it for $11,000.
Since than we've only owned that car. Our friends think we are nuts but we've made it work. Now, it has been easier for us since we are both self-employed. But even now with a 8 week year old we still can't find a good reason for owning a 2nd car quite yet.
Total savings are hard to calculate. But just to ramble on potential savings.
-2nd car payment or total capital eliminated completely $12,000 -Elimination of car insurance $8,000 -We've put in about $6,000 total of fixes on the Focus so we'll just say we saved that in repairs for another vehicle -Registration avoided $2,000
Anytime we need a truck to move stuff we just use a U-hual truck. We cut down our Christmas tree just a week ago and rented a U-hual truck. Total amount $68.
Now, our income has skyrocketed the last 3 years so we don't feel the financial effects as much anymore. But I would highly recommend it to any couple trying to save and get ahead while they build their income.
Also, a intangible benefit is that whenever we are at parties our friends like to bring it up to other people. Its a great conversation starter and we've made good friends from those conversations.
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TIL owning just one car is a controversial decision.
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These solutions could also help to reduce environment pollution.
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I was lucky enough to be gifted a 2009 sierra 4 years ago.
Truck is running strong and I have no plans on purchasing a new vehicle any time soon. I can’t justify spending thousands a year for something I use to drive too and from work.
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Big proponent of this! I often get asked when are you buying new/another car and I say never! Until the wheels fall of my current one.
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Um if challenge that… what did you do with the money? I know you mentioned Bitcoin. If you sat on the Fiat saved, it’s just a melting ice cube. If you invested it, that is your best move!
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Read the first sentence I wrote
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Read the second sentence I wrote. Did you only invest in bitcoin? Use all the money saved for Bitcoin? Buy Bitcoin tops? As of now that makes a difference for the best financial decision as your title states!
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My first sentence "Besides Bitcoin, obviously haha."
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Nice! My wife and I are still driving a solo 2016 ford fiesta. We'll probably upgrade soon, because it's pretty small once you have a kid, but we'll stick with sharing a single car.
It's nuts how much you can save by reducing your fleet size.
Meanwhile, our boomer parents can't stop buying vehicles.
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I wish I would have kept track the last 6 years with how much we’ve saved.
Fleet size. I like that a lot. Luckily my boomer Dad always kept his cool with cars. He’s only owned 2 trucks my 34 years of life. I got it from him
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Es muy emocionsnte