One way to bring the exercise to life is to capture it in a FamZoo budget. Click on the image to the right to see the weekly, monthly, and annual costs for a teen purchasing and driving a typical used car.
It’s pretty eye-opening (if not eye-popping)!
A few things I learned along the way:
- Car registration fees vary wildly by state. Check out this study put out by the state of Idaho for 2008. Some serious variance there!
- Teen car insurance is insanely expensive. You can get a general sense from this bar chart.
- California leads the pack in gas prices (OK, no surprise there). You can see average prices by state here.