Save Thousands Understanding Car Budgets Ireland's Top Secret
Setting a Realistic Car Budget
Setting a realistic car budget is the first step toward financial efficiency. According to financial experts, it is advisable to allocate no more than 15% of your monthly income to car expenses, including loan payments, insurance, and fuel costs1. This guideline helps maintain a balanced budget and prevents overspending. Additionally, considering the total cost of ownership, which includes taxes, insurance, and maintenance, can provide a clearer picture of the long-term financial commitment involved.