For many people, the cost of housing is one of the biggest monthly expenses. According to a report from the Joint Center for Housing Studies of Harvard University, the average monthly mortgage payment in the United States was $1,030 in 2016. Renters paid an average of $850 per month.
But what if you could eliminate your housing costs altogether? That’s where living in your car comes in. While it’s certainly not for everyone, it can be a great way to save money – provided you’re willing to make some sacrifices.
In this article, we’ll take a look at the cost of living in your car, the benefits and challenges of doing so, and offer some tips for making it work. So if you’re ready to ditch your rent or mortgage payments, read on!
The cost of living in your car
Assuming you own your car outright, gas is likely to be your biggest monthly expense. The average driver in the United States spends about $200 per month on gasoline, according to the U.S. Energy Information Administration. Of course, this will vary depending on the price of gas in your area and how much you drive.
Car insurance is another significant expense. The cost of car insurance varies widely depending on a number of factors, including your age, driving record, the type of car you drive, and where you live. But according to The Zebra’s State of Insurance Report, the average cost of car insurance in the United States is $1,427 per year – or about $119 per month.
Of course, living in your car also means you’ll have to pay for maintenance and repairs. This can be a significant expense if you’re not handy with a wrench yourself. According to Angie’s List, the average cost of an oil change is $35 – and that’s just one of many potential repairs or maintenance items your car may need over time.
Last but not least is the cost of parking. If you plan to live in your car full-time, you’ll need to find a safe place to park it overnight – preferably somewhere that doesn’t charge a fee. According to Parkopedia, the average hourly parking rate in the United States is $2.19 – but this will vary depending on the city you’re in and the time of day (or night) you’re trying to park.
So there you have it: an overview of the costs associated with living in your car. While it’s certainly not for everyone, it can be a great way to save money if you’re willing to make some sacrifices.
The benefits of living in your car
Living in your car can have some big benefits, namely in terms of saving money. Rent and utilities are two of the biggest expenses that most people have, and by living in your car, you can avoid them entirely. Of course, this does mean making some sacrifices – you’ll have to say goodbye to your comfortable bed and hot showers – but it can be worth it if you’re looking to save some money.
Another big benefit of living in your car is that it makes travel much easier and cheaper. If you want to go on a road trip or visit a new city for a weekend, all you need to do is pack up your things and go. You don’t need to worry about finding a place to stay or dealing with airline tickets – all you need is gas money. And, since you’re already living in your car, you don’t even need to worry about packing light!
Finally, living in your car can help simplify your life. With fewer possessions to worry about, you can focus on the things that matter most to you. You might find that you don’t miss your TV or your collection of shoes as much as you thought you would – and that’s okay! Embracing a simpler life can be one of the best things you ever do.
The challenges of living in your car
One of the challenges of living in your car is finding a new place to park your car every night. This can be difficult, especially if you’re trying to avoid parking fees. You may have to move your car frequently, which can be a hassle.
Another challenge is showering. You may have to use public restrooms or friends’ houses to take showers. This can be inconvenient and time-consuming.
Eating out all the time can also be expensive and unhealthy. You may have to get creative with your meals or eat at fast food restaurants more often than you’d like.
Finally, finding a new job or moving closer to your current job may be necessary if you want to continue living in your car. This can be a daunting task, but it’s important to consider all of your options.
In conclusion, living in your car can save you money on rent and utilities, but it comes with a number of challenges. You will need to be resourceful and creative, and you will need to have a plan B. The key to making this work is to focus on the things that matter most to you, and to simplify your life.