National Money Night Talk: Car Costs 101

The Money Night Talk High School Exercise: Car Costs 101
Click to enlarge.

As I mentioned in yesterday’s post, tomorrow is the National Money Night Talk event. The materials on the site include an exercise for High School age kids called “Car Costs 101”. It’s enlightening.

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.

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