Beating Broke

Personal Finance from the Broke Perspective

  • Home
  • About
  • We Recommend
  • Contact
  • Privacy Policy

Powered by Genesis

13 Traffic Nightmares You Only Know About If You Drive in the City

June 10, 2024 By Catherine Reed Leave a Comment

13 Traffic Nightmares You Only Know About If You Drive in the City

Driving in the city presents a unique set of challenges that only urban motorists genuinely understand. From the constant stop-and-go motion to navigating around countless obstacles, city driving tests even the most patient drivers. Understanding these traffic nightmares can help prepare you for your next urban adventure. Here are thirteen traffic nightmares you’ll only know about if you drive in the city.

1. Endless Traffic Jams

Endless Traffic Jams

City driving often means being stuck in endless traffic jams. Whether it’s rush hour or a minor accident, congestion can bring your commute to a grinding halt. The frustration of moving inches at a time can test anyone’s patience. Being prepared for these delays is a necessity for city drivers.

2. Double-Parked Vehicles

Double-Parked Vehicles

Double-parked vehicles are a common sight in urban areas. They block lanes and force drivers to navigate around them, creating additional hazards. This often leads to bottlenecks and increased traffic congestion. Double parking is a prime example of inconsiderate behavior that city drivers frequently encounter.

3. Unpredictable Pedestrians

Unpredictable Pedestrians

Pedestrians in the city can be highly unpredictable. They often jaywalk, cross streets without looking, and ignore traffic signals. Drivers must constantly be on high alert to avoid accidents. Navigating through crowded streets requires sharp attention and quick reflexes.

4. Construction Zones

Construction Zones

Construction zones are a constant presence in urban environments. They often lead to lane closures and detours, causing confusion and delays. Navigating these areas requires extra caution and can significantly slow down traffic. The frequent appearance of construction zones is a major annoyance for city drivers.

5. Aggressive Drivers

Aggressive Drivers

City driving often means dealing with aggressive drivers. These motorists weave in and out of traffic, tailgate, and engage in other risky behaviors. Their impatience and recklessness can create dangerous situations for everyone on the road. Defensive driving is essential to navigate the city streets safely.

6. Bicyclists in Traffic

Bicyclists in Traffic

Bicyclists are a common sight in urban areas, sharing the road with motor vehicles. While many follow the rules of the road, some do not, leading to unpredictable behavior. Drivers must be constantly aware of cyclists to avoid collisions. The presence of bicycles adds another layer of complexity to city driving.

7. Limited Parking

Limited Parking

Finding parking in the city can be a nightmare. Spaces are often scarce, and drivers may spend significant time circling blocks in search of a spot. Even when parking is available, it can be expensive and inconvenient. Limited parking is a daily frustration for urban motorists.

8. Navigating One-Way Streets

Navigating One-Way Streets

One-way streets are common in cities and can confuse drivers unfamiliar with the area. Missing a turn or getting stuck in a maze of one-way roads can lead to significant delays. Drivers must stay alert and carefully follow signage to navigate these streets effectively. One-way streets are a frequent source of frustration for city drivers.

9. Obstructed Views

Obstructed Views

In the city, tall buildings and parked vehicles often obstruct drivers’ views. This makes it difficult to see oncoming traffic, pedestrians, and cyclists. Drivers must exercise extra caution at intersections and crosswalks. Obstructed views are a common challenge that city drivers face daily.

10. Public Transportation Buses

Public Transportation Buses

Public transportation buses add another layer of complexity to city driving. They frequently stop to pick up and drop off passengers, causing sudden slowdowns and lane blockages. Drivers must learn how to navigate around these large vehicles safely. Sharing the road with buses is a typical urban driving experience.

11. Narrow Streets

Narrow Streets

Narrow streets are prevalent in many cities, making it difficult for larger vehicles to maneuver. These tight spaces can lead to traffic congestion and accidents. Drivers must be skilled at navigating these narrow roads without causing damage to their cars or others. Narrow streets are a significant challenge for city drivers.

12. Delivery Trucks

Delivery Trucks

Delivery trucks are a constant presence in the city, often stopping in traffic lanes to make deliveries. This can cause sudden slowdowns and require drivers to navigate around them carefully. These trucks are essential for city commerce but are a frequent annoyance for drivers. Delivery trucks contribute to the daily traffic nightmares of urban motorists.

13. Unexpected Road Closures

Unexpected Road Closures

Unexpected road closures can throw a wrench into any driver’s plans. Whether due to accidents, events, or maintenance, these closures often come with little warning. Drivers must quickly find alternative routes, which can be stressful and time-consuming. Unexpected road closures are a common headache for those driving in the city.

These Traffic Nightmares Are Common If You Drive in the City

These Traffic Nightmares Are Common If You Drive in the City

Driving in the city presents a unique set of challenges that require patience, skill, and vigilance. From dealing with aggressive drivers to navigating narrow streets and avoiding double-parked vehicles, urban motorists face a daily battle on the roads. Understanding and preparing for these traffic nightmares can help make your city driving experience a little less stressful. Stay alert, stay calm, and navigate the urban jungle with confidence.

Read More:

18 Classic Car Features That Have Vanished in Modern Vehicles

Are Electric Cars Worse for the Planet?

Catherine Reed
Catherine Reed

Catherine is a tech-savvy writer who has focused on the personal finance space for more than eight years. She has a Bachelor’s in Information Technology and enjoys showcasing how tech can simplify everyday personal finance tasks like budgeting, spending tracking, and planning for the future. Additionally, she’s explored the ins and outs of the world of side hustles and loves to share what she’s learned along the way. When she’s not working, you can find her relaxing at home in the Pacific Northwest with her two cats or enjoying a cup of coffee at her neighborhood cafe.

Filed Under: Cars Tagged With: Aggressive Drivers, city life, driving in the city, Endless Traffic Jams, traffic nightmares

Is a Car an Asset or a Liability?

February 12, 2024 By MelissaB Leave a Comment

 

Black convertible in an empty parking lot.
Image Source: Carolinqua.

When it comes to determining assets and liabilities, there are only a few items that can divide the opinion of people like a car. While some people believe that a vehicle is a liability, others feel it is an asset. The split ideas occur because the maintenance of a car requires money from time to time and it loses value the older it gets. At the same time, it is still possible to sell a vehicle for a profit.

So, is a car a liability or an asset? First, let’s take some time to understand the difference between the two, which will help us conclude whether a car is a liability or an asset.

What Is an Asset?

Three rings with thick gold bands and diamonds in the center stacked on top of each other.
Photo by Cornelia Ng on Unsplash

An asset refers to any item that a person owns and can get some value from. Generally, your net worth increases based on the assets that you have. Retirement funds, cash, investments like bonds and stocks, and personal valuables such as collectibles and jewelry are all excellent examples of what an asset is.

What Is a Liability?

House made of one hundred dollar bills folded and stacked
Photo by Kostiantyn Li on Unsplash

A liability, on the other hand, is an item, debt, or obligation owed to another person. Unlike the assets, your net worth will reduce when you have liabilities. Car loans, credit card debt, personal loans, mortgages, and student loans are examples of responsibilities.

The difference between these two terms is: anything you own outright can be regarded as your asset, whereas any item you need to pay a debt on is your liability. Your liability harms your net worth, while your asset has a positive effect on it.

Is a Car a Liability?

White Ford in the desert
Photo by Sven D on Unsplash

The answer to this question can be a little tricky because you can own your car but still need to pay money for its maintenance, fueling, and other things. The correct answer to this question is that your vehicle is an asset. However, it is a depreciating asset.

What Is a Depreciating Asset?

Blue car on a suburban street with a for sale sign next to it.
Photo courtesy of DALL-E

A depreciating asset is a form of asset that has the potential to lose value as time goes on. Unless you are using your vehicle for some type of business, it is most likely a depreciating asset.

If you purchased a car at a particular amount last year, that car’s equity would have reduced significantly today. However, it is still an asset as you can sell it to make some amount, albeit lower than its original value.

Is Your Car an Asset If There Is a Car Loan on It?

Car loan form on a clipboard with a toy car on top of it.
Photo courtesy of DALL-E

This is where it gets even more confusing. But the answer is still the same. Regardless of the car loan, your auto remains a depreciating asset. When you sell the vehicle, you can even get value from it. Nevertheless, when you have a car loan, the ownership of a car will hurt your net worth. Therefore, the car loan itself is a liability, whereas the car is an asset. In simple terms, the burden is not about the car itself but rather depends on the car loan.

One dicey situation is if you sell the car and its value is lower than the car loan. Is a car a liability in this case? In a real sense, it is still an asset that does not have much value that can cover your debt. The car you sold has not reduced your net worth; it is the loan that could cut it. Of course, in some cases, you may sell the car and still have some money left. So, this makes it clear that the vehicle itself is not a liability.

How Can I Determine the Value of My Car?

Man with a clipboard determing the value of a car
Photo courtesy of DALL-E

Since your car affects your net worth, take the time to determine its worth. Here’s what to do:

  • Determine the value

A brand-new vehicle loses over 20% of its initial value by the end of the first year of its purchase. It will continue to lose its worth by 10% yearly in the second, third, fourth, or fifth year of its purchase. By using this knowledge, you can calculate how much your car is worth on your own.

  • Go to Kelly Blue Book and other similar websites

Blue Book is a site designed to help people determine the current value of their car. If you have all the information about your car, this site will calculate the worth of your vehicle easily and quickly.

Here’s what you need to provide on Kelly Blue Book to know the value of your car:

  • Your car’s make and model
  • Year of its production
  • Its mileage
  • Its color
  • Its current condition

The site will offer you different value options based on the method you want to use to sell your car.

In most cases, you will get the least money when you trade it in. If you are looking to get the most money from your car, you will need to sell to a private party buyer. However, selling this way is not as easy as selling it as a trade-in because when you trade in, the dealership does all the paperwork for you.

Are There Any Options for Kelly Blue Book?

Hands on a laptop keyboard
Photo by Glenn Carstens-Peters on Unsplash

Besides Kelly Blue Book, other websites that offer similar services include Edmonds and NADA. These websites also have an excellent database and system that can help you know how much your vehicle is worth instantly and seamlessly. Although the values from these websites will not be the same, you can use those estimates to calculate the average cost of your car.

Check out the values of cars that are similar to yours

Two cars side by side in a middle class neighborhood
Photo courtesy of DALL-E

Some people are using the same car model that you are using. So, you may be able to find others who have already determined the value of their cars. Take the time to visit Craigslist, CarGurus, AutoTrader, eBay Motors, and other similar websites to check the worth of your vehicle. When searching for the worth of your car on these websites, pay attention to the local listings as the values of vehicles can differ based on the location.

How Can I Calculate My Net Worth?

Computer screen showing someone's rising net worth.
Photo courtesy of DALL-E

The calculation of your net worth is simple. First, you should make a list of your assets as well as your liabilities. Remember that if you bought your car outright, you would add its value directly to the list of your assets. Then, calculate your net worth by subtracting your total liabilities from your total assets.

Remember, your net worth can be positive or negative. You’re in better financial shape if your total assets are more valuable than your total liabilities and vice versa.

How Do I Calculate My Net Worth If I Have a Car Loan?

A car with a chart in the background showing $20,000 value, minus $14,000 loan
Photo courtesy of DALL-E

If you have a loan on your car, you need to remove the amount owed from the value of the vehicle. Let’s assume that the current worth of your car is $20,000 and your car loan is $14,000. Subtract the car loan from the current value of your car, and the remaining amount will be $6,000. You should add the remaining amount to your net worth.

What Is the Importance of Knowing Your Net Worth?

Man wearing sunglasses holding a fan of money in front of his face

Your net worth refers to the strength of your finances. It is an all-important number that shows the difference between your current assets and liabilities. Positive net worth means that your financial health is great. In contrast, negative net worth may indicate that you are struggling financially.

However, you should note there are instances where a negative net worth does not necessarily mean that your finances are bad. For example, if you are using lots of your income to settle a student loan, your net worth may be detrimental in the meantime. Nevertheless, such an action will help you gain financial freedom in the future after you have settled the student loan.

Conclusion

Ultimately, is your car a liability or an asset? Your vehicle is an asset, albeit a special one that depreciates. You should bear in mind that it will reduce in value as time goes on, but it will still retain some benefits as long as you own it. Nonetheless, this does not change the fact that it is still an asset. So when you are calculating your asset, you should add your car to your asset while you add any available car loan to your liabilities.

Read More

How to Accumulate Assets and Diminish Liabilities

Why Buying a Toyota Sienna Was One of Our Best Decisions

 

MelissaB
MelissaB

Melissa is a writer and virtual assistant. She earned her Master’s from Southern Illinois University, and her Bachelor’s in English from the University of Michigan. When she’s not working, you can find her homeschooling her kids, reading a good book, or cooking. She resides in New York, where she loves the natural beauty of the area.

www.momsplans.com/

Filed Under: Cars Tagged With: cars, electric cars, used cars

How to Find the Right Car That Won’t Break Your Budget

April 14, 2023 By Erin H Leave a Comment

Are you on the hunt for the perfect car? Before you start, it’s important to know your budget. If you start looking without a spending limit in mind, it’s easy to get overwhelmed and even anxious looking at all the market options. As soon as you put yourself in a price range, you can lower the number of cars you have to look at, instantly making the process easier. After that, there are other aspects to consider, like fuel efficiency, different types of vehicles, the features you want, and what you’ll be most comfortable in. Take a look at some of the specifics before heading out to begin your vehicle shopping experience!

Consider Fuel Efficiency

One way to ensure your new car won’t strain your bank account is by choosing one that’s fuel-efficient. According to Consumer Reports, a hybrid car will save you around $500 per year in fuel costs compared to one powered by gasoline. With increasing fuel prices, selecting a car with better efficiency is both environmentally friendly and cost-effective. Moreover, hybrid vehicles usually have a longer life expectancy. So, you won’t be back on the market looking for another car right away.

Explore Electric Vehicle Options

The popularity of electric vehicles or EVs has definitely increased in recent years. According to Policy Advice, there are over 5.6 million electric vehicles around the world. These cars offer many benefits, including reduced emissions and operating costs. Furthermore, many governments give incentives for purchasing EVs, which will lower your initial cost. If your situation allows for it, consider investing in an electric vehicle to save money on fuel and maintenance.

Think About Safety Features

While finding a car that fits your budget is important, you should never compromise on safety. For example, larger trucks are involved in less than 4% of all accidents. Look for vehicles with good crash test ratings and advanced features like blind-spot monitoring, lane departure warning, and automatic emergency braking. Spending money on a car with these added bonuses helps you avoid getting into unexpected accidents, which can get rather expensive.

Assess Your Needs

When searching for a car that won’t break the bank, it’s important to solidify what features are a must for you. First, consider the vehicle’s main purpose. Are you going to be commuting to work, taking it on family outings, or exploring on weekend road trips? Then, list the features you need and those you can probably live without.

For example, prioritize fuel efficiency and a comfortable interior if you have a long drive to and from work. On the other hand, if you need a car for family trips, focus on the above-mentioned safety features and lots of storage space. Knowing what you need, you’ll be better equipped to find one that meets your requirements.

Shop Around and Compare Prices

Once you clearly understand how much money you can spend and the features you’re expecting, it’s time to start shopping! Visit several dealerships, go out for test drives, and compare prices. Additionally, research online to find the best deals and see if there are any promotions available. Finally, don’t hesitate to negotiate with dealerships and ask for a better price. Many will haggle with you and you can end up saving thousands.

Buying a new car is supposed to be an exciting experience. So, don’t let the stress of getting the perfect one keep you from enjoying it. The best way to do that is by preparing ahead of time. Know your budget, understand what you’re looking for and what you want, and take into consideration the costs you may incur down the road. In the end, just make sure that you’re comfortable with your new ride and that you can afford it. Then, happy cruising!

Read More:

Costco Gas Station Hacks: How to Save Money and Get More Mileage

Can You Have Two Car Loans At Once?

Filed Under: Cars

  • 1
  • 2
  • 3
  • …
  • 10
  • Next Page »
  • Facebook
  • Pinterest
  • RSS
  • Twitter

Improve Your Credit Score

Money Blogs

  • Celebrating Financial Freedom
  • Christian PF
  • Dual Income No Kids
  • Financial Panther
  • Gajizmo.com
  • Lazy Man and Money
  • Make Money Your Way
  • Money Talks News
  • My Personal Finance Journey
  • Personal Profitability
  • PF Blogs
  • Reach Financial Independence
  • So Over Debt
  • The Savvy Scot
  • Yes, I am Cheap

Categories

Disclaimer

Please note that Beating Broke has financial relationships with some of the merchants mentioned here. Beating Broke may be compensated if consumers choose to utilize the links located throughout the content on this site and generate sales for the said merchant.

Visit Our Advertisers

Need to change careers? Consider an Accounting Certificate Program from WTI.