Can Getting Rid of Your Car Save Your Family Money?

When it comes time to cut back on spending, we usually think of traditional options inside the house. Choosing long-lasting, low-maintenance household items such as aluminum blinds is one way to cut costs in the long run, but there are other ways you can severely cut costs for your family today. Want to know how you can increase your family's savings? Consider getting rid of your car. While having one is important to help you get around, getting rid of it will help you with saving money in a big way. For five practical benefits of getting rid of your car, read on.

Safer to Go Without a Car

A whopping 20 to 50 million people suffer injuries every year thanks to traffic collisions, with some getting permanent disabilities. Going car-free may help you avoid some serious accidents, mostly because you will use other means to commute. These include walking or riding a bicycle. While these still have some risks associated with them, the decreased speed means less serious injuries even if an accident were to occur on the pedestrian or bicycle lane. Moving a bit slower may also help you evaluate risk more accurately and avoid getting yourself into a dangerous situation.

Great Option for The Environment

When you get rid of your car, you will have gone an extra step in helping to conserve the environment. One less person using a car means less emissions, a definite plus. You will also use less fossil fuel and this leaves you consuming natural resources at a lower rate. Although there are electric cars and eco-friendly options being produced every so often, they still aren't as green as having no car would be. If you're thinking of going car-free, this may be the reason that helps tip the scales in the environment's favor.

Tangible Savings

Going car-free will save you a lot of money in different areas. No car means no insurance payments, no money spent on gas, and no money spent fixing it and maintaining it. You will also reduce your debt if you would have leased your car rather than buying it, and with the money you save, there's plenty more you can do. In a survey, 41% of people regretted a purchase they made despite thinking they wouldn't. 30% were neutral before buying but regretted the decision after buying. With this statistic in mind, you may want to put a hold on your plans for buying a car if you don't already have one. Give it a reasonable amount of thought to make sure you absolutely need a car because once you spend the money, going back will equal a loss for you.

You Get More Exercise

Needless to say, ditching the car will see you improve your health and fitness. Apart from saving money that you would have spent on the car, you can also save money you would have paid for a gym membership because you will walk. Riding a bicycle is also a healthier alternative to driving, making the options available to you healthier ones. Taking public transport will also see you walking a longer distance than you would have walked to your parked car, so if you want to get fit, think about getting rid of your car.

Less Stress

This final benefit is hard to ignore. The stress that you get navigating traffic and sitting in traffic jams will dissipate when you ditch it. Public transport will have you relaxing as you're ferried to your destination, while walking is in itself a means of stress relief. If you're up for improving your mental health, think of getting rid of your car.

Saving money may be the main reason many people get rid of their cars, but it's clearly not the only benefit they get. If the pros outlined above will help convince you to let go of your car, do so, and you will be glad you made the choice!