I was going through the MIT living wage data and notice the following for my area.
Transportation: $10,133. The stats are apparently from https://www.bls.gov/cex/tables/calendar ... e-2022.pdf.
This seems like an expenditure of around $844 per month. That seems higher than my own expense. The expenditure includes insurance and repairs. Insurance is about $1200 for 2 used car for me. Let's say it's only $9,000 left after insurance, that's still around $750 per month. Fuel cost could account for about $100 per month. I feel like this is from a person making a car payment or leasing deal or may be the car amortized across the ownership years?
What's your opinion of keeping a relatively reliable used car running one that is say a few years old to one that is around 10 years old?
Transportation: $10,133. The stats are apparently from https://www.bls.gov/cex/tables/calendar ... e-2022.pdf.
This seems like an expenditure of around $844 per month. That seems higher than my own expense. The expenditure includes insurance and repairs. Insurance is about $1200 for 2 used car for me. Let's say it's only $9,000 left after insurance, that's still around $750 per month. Fuel cost could account for about $100 per month. I feel like this is from a person making a car payment or leasing deal or may be the car amortized across the ownership years?
What's your opinion of keeping a relatively reliable used car running one that is say a few years old to one that is around 10 years old?
Statistics: Posted by gavinsiu — Mon Dec 02, 2024 8:23 am