She's On The Money
Cutting Car Costs
Sep 10, 2024
Join Victoria, a savvy financial guru, who shares a free guide for negotiating better transport deals. Queenie dives into the costs and investment opportunities surrounding electric vehicles. Natarsha Bamblett brings a cultural perspective by acknowledging Country. The conversation highlights shocking stats on car costs, offers practical tips for fuel savings through apps, and provides clever shopping strategies to cut expenses. Discover how simple car maintenance can also lead to significant savings!
31:31
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Quick takeaways
- Australian households are now spending approximately $500 per week on transportation, highlighting the need for effective cost management strategies.
- Negotiating better rates for car loans and utilizing fuel price comparison tools are essential steps for reducing overall transportation expenses.
Deep dives
Rising Transportation Costs
Average transportation costs for Australian households have significantly increased, with the typical household now spending approximately $500 weekly. This spike represents a 10.5% rise over the past year, nearly three times the consumer price index increase. A breakdown of these expenses reveals that car loan repayments make up the majority, accounting for about 46% of transportation expenditures, followed by fuel costs at 22.1%. The increased financial burden on households raises concerns about the overall impact on budgets, underscoring the need for individuals to reevaluate and manage their transportation-related expenses.
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