Yahoo Finance published a list of twenty ways people spend more money than they need to. Number 13:
13. Own an extra car. Okay, so a car is a necessity for most people. But face it — cars are a huge drain, from their loan payments to insurance fees to gas and maintenance costs. Own more than one car and you’ll double or triple those expenses. Ask yourself if that second or third car is really necessary. Are you holding on to an old car for sentimental reasons? Can you or your spouse carpool, take public transportation or bike to work?
Streetcars and other forms of public transportation can help people own fewer cars. AAA estimates the cost owning and operating a midsize sedan at $8,273 per year; much of that spending on automobiles leaves the local economy and goes to Detriot, Tokyo or oil producing countries.
Increased public transportation can help keep more of the spending at locally owned buisiness or invested into our neighbhorhoods, and for families on a tight budget not having an extra car or insurance payment can make a big impact on their fianances.