Young Money With Tracey Bissett

Learning to drive and becoming a licensed driver is a fundamental life skill. Many teens and young adults anticipate with excitement owning their own car, sitting behind the wheel and driving with their friends to work, school, or activities. As young millionaires-in-the-making think about driving and car ownership, it’s important to develop a financial plan that works and takes into consideration the additional expenses that are associated with car ownership.   On today’s episode, I’m discussing the true cost of owning a car. I’ll highlight some of the key areas that many people often overlook when planning and budgeting to purchase their first car, some important statistics you need to know, as well as the benefits of paying off your car. I’ll also share some alternative transportation ideas you can use while you save for your first car or other important things you want to purchase in the future.   “When you’re considering purchasing a car, be sure to factor in these seven car ownership costs.” - Tracey Bi