It’s a strange new world indeed when the Wall Street Journal publishes an article showing how much of a money pit the family car is.
If you really want to see where your money is going, take a closer look at your car. Foreign or domestic, it doesn’t matter. It’s a cash guzzler, and it is probably costing you more than anything else except your home.
The federal Bureau of Labor Statistics calculated that in 2006 vehicles sucked down nearly 17 cents of every family dollar. Maybe it’s time for smart families to consider some really tough choices.
Read more. Hat tip to the folks at Xtracycle.