Automotive

How to save $1,000 a month by working at home (sell your car)

  • Last Updated:
  • May 12th, 2020 1:50 am
[OP]
Deal Fanatic
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Jun 19, 2001
8596 posts
2284 upvotes

How to save $1,000 a month by working at home (sell your car)

"April numbers from J.D. Power show that the average loan payment on cars, SUVs and light trucks averaged $720, up from roughly $650 a year earlier. Let’s lowball car payments for the purpose of this example and set them at $500.

Add $100 to that each month for insurance, $130 for gas (based on $30 per week) and $100 as an averaged amount for maintenance and other fees like licence and registration. Total monthly car costs: $830 for an urban commute. If you travel a significant distance every day, the extra cost in gas and maintenance could easily push you past $1,000 monthly."

https://www.theglobeandmail.com/investi ... -month-by/

"The Waterloo, Ont.-based tech company Open Text has said it will not reopen roughly half of its physical office space after the pandemic is over. Bank of Montreal’s chief human resources officer told Bloomberg News last week that as much as 80 per cent of its staff may adopt a post-pandemic work arrangement blending working in the office and at home."

Agreed! especially with this "Need a sweetener to ease into the one-car, work-at-home lifestyle? Put some of your monthly car savings into a travel fund."
5 replies
Deal Guru
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Mar 9, 2007
13773 posts
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Think of the Childre…
Nah! I enjoy cruising.

WOULD SOMEBODY THINK OF THE CHILDREN!!!
Deal Addict
Mar 21, 2013
3106 posts
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Edmonton
Ah yes, the legendary travel fund that can't be used.
Deal Fanatic
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Nov 4, 2008
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Richmond Hill
Beige corolla
When given enough time, all threads on RFD can and will go off on a tangent.
Deal Fanatic
Sep 1, 2004
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Travel fund to where? Nobody in the rural area want us city folks and every country on earth is now doing 2 weeks quarantine upon arrival.

The only traveling to be had until a proven vaccine is found is a $2K PC + VR Headset + Google Earth VR.

Right now, my cars are the only thing that brings me joy as home turns into an office except I HAVE to do all the cleaning.
Sr. Member
Apr 5, 2017
826 posts
591 upvotes
Edmonton, AB
This is my cheapest year of vehicle ownership. Record low gas prices (for 10 days there Costco Edmonton was at 54.9), less driving, cheap $1000 beater, cheaper bundled insurance, DIY till I die, etc. even if I worked at home I'd definitely keep it as I also lump it in to entertainment and therapy. Get out and explore/learn the city and every nook and cranny.

With the money I've already saved from the status symbol obsession known as the automobile - I can put it towards home improvement/investing. I was planning on two more trips in 2020 but obviously that can no longer be the case. I will hold dearly my fond memories of Vegas in January 2020. I had a great time in 4 days there for under $500 all-in. I had $300 in amex credits applied to the trip, so I was only out $200.
Xtrema wrote: Travel fund to where? Nobody in the rural area want us city folks and every country on earth is now doing 2 weeks quarantine upon arrival.

The only traveling to be had until a proven vaccine is found is a $2K PC + VR how-save-1-000-month-working-home-sell- ... 3/#Headset + Google Earth VR.

Right now, my cars are the only thing that brings me joy as home turns into an office except I HAVE to do all the cleaning.
That's a good point.

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