Jay B Hancock.com

While creating our 2011 budget, I engaged in a thought experiment about creative ways to dramatically reduce our costs in order to live within our means and save for our dreams: ditch one car.  I'll explain my thinking to provide some insight into how the financial mechanics work.

Total cost of ownership

When looking at the cost of owning a car, there are many costs involved, with an example of monthly costs in parentheses:

Home of the $5 cup of coffee, Starbucks is a money pit.  Just like a car.  That daily dose can cost you $1825 per year! Right now that's the cost of a budget cruise for two.

We buy coffee because we are in too big a hurry or because we're just lazy.  My wife tells me she likes to socialize over coffee or tea, so it's part of the decorum of friends.