It can really save a lot of money if we stop using our cars so much. Fuel prices are rising and they are not going to get any cheaper and cars have other costs too, such as servicing and repairs, tax, MOT and insurance. Although some costs will not change, as we will still have to pay tax, insurance and have the car MOTed, by using it less a lot of money can be saved.
Fuel is probably the biggest cost of running a car. It can be useful to calculate exactly how much a journey can cost and there are online calculators which can do this for you. If you work out how much it costs to drive around locally and compare that with the cost of walking or cycling, which should be free, you will see how much you could save. It is worth calculating what that adds up to in a year and you might be shocked as to how much money you could save, just by walking or cycling around locally. You may even find that if travel longer distances on public transport they could be cheaper as well. If there is a family travelling then cars could still be cheaper, but for a single person, it could be cheaper to use the bus or train to get to work or to visit friends and family members.
It is also worth considering that the more you use the car, the more wear and tear it suffers. This can be costly as you will need to replace tyres and have other repairs done more frequently. There is also more of a risk of an accident when you are driving and if you do have one, your insurance costs will go up. It could even mean that you go from a two car family, to a one car family. If this happens then you will save a substantial amount of money each year. You will pay less insurance, tax, will not have to own two cars, will save on servicing, MOT and repairs. The financial implications for this are huge as you could save enough each year to pay for a holiday. It be hard to notice how much it costs to run a car, let alone tow, until you get rid of one car. Then you will really notice the difference.
There are also indirect financial savings to be made as well. If you do not drive, but walk or cycle instead you will be healthier. You may wear your shoes out more and need a warmer coat but you will be healthier. This will mean that your life insurance will be cheaper and you will lose less days of work due to illness. You may be able to work for longer and therefore earn money for longer as well. If you feel healthier you will be more productive and this could lead you to get a promotion or pay rise and so be better off that way as well.