Savings Log of a 26yr old on low pay

Primrose

There are a few schemes setting up where you can rent a car or van by the hour whenever you need one which might be an alternative to consider, but possibly none operate near you. Check out
https://www.streetcar.co.uk/sc_welcome.aspx and possibly Google for other similar options. Would a cheaper vehicle such as a scooter or small motorbike be an option?

MoneyWaster2007

I could catch the bus to work and get a monthly bus pass which would cost £53 per month, which is the equivalent to roughly 2 weeks petrol. So I'm saving straight away, not to mention money saved from car tax, insurance, MOT and breakdowns. Plus, I would have unlimited use of the bus so could go wherever I want as I please.

The downside is that I'd have to get up slightly earlier than usual to catch the bus and walk a short distance, but you could see that as a good thing in that it would be healthier.

fourstripes

Have you ruled out cycling? It's a healthy way of getting round and avoids traffic and avoids relying on bus etc. I cycle everywhere and save a lot as a result. (Long time lurker to your thread btw - decided to say something)

Alias_Omega

MoneyWaster2007 wrote: »

Who needs a car anyway? What's wrong with public transport?

Any answers much appreciated.

My daily commute in the car is over 40 miles each way, no public transport runs at 6:30 am getting me into work for 7:15am.


The car question, really depends where you live. If you live in the city centre, and dont travel that far outside of it then a decent £200 2nd hand road bike will be good. I would avoid the halfords cheap £79.99 new specials, as quality will last about a year.

mike88

What about a motor scooter? 100 plus mpg, cheap insurance etc. I commuted for years on one. Maintenance is minimal.

I've also done the push bike thing. I agree with the previous poster that Halford's cheapies are not the answer as they are hard work to pedal and don't last long.

A car is a perennial source of expense especially at MOT time when some expected and unexpected problems always seem to arise. You can get issues with motor scooters as well but they tend to be less expensive to repair and there is less to go wrong.

Brallaqueen

Ditto the scooter. Get a 125cc if you have main roads, you get less mpg (~80) but you get some extra oomph when needed.

MoneyWaster2007

Thanks for the ideas. I've decided to put the car through its mot next month, then sell it. Then using part of the money generated from the sale of the car I'll get a road bike which costs nothing to run.

It's going to free up so much cash

Cyrus

MoneyWaster2007 wrote: »

Thanks for the ideas. I've decided to put the car through its mot next month, then sell it. Then using part of the money generated from the sale of the car I'll get a road bike which costs nothing to run.

It's going to free up so much cash

And get you fit too.

mike88

Look out for a second hand bike. I advertised mine - a £200 road bike which admitedly was 10 years old - and had no takers. In the end I cycled to the tip and threw it in the skip as I was moving house and didn't need it anymore.

indie80

MoneyWaster2007 wrote: »

Thanks for the ideas. I've decided to put the car through its mot next month, then sell it. Then using part of the money generated from the sale of the car I'll get a road bike which costs nothing to run.

Depending on how much your car is worth, the cost of the MOT and what work needs doing to it you may instead want to consider scrapping your car to cut your losses.

I used cartakeback (won't let me post a link) recently to dispose of my late fathers car and got a cheque for £145. I'd already claimed back 6months of road TAX. So all in all I got near what it was worth without the hassle of selling it.