By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
The News God
  • Politics
  • News
  • Business & Finance
  • Lifestyle & Health
  • Law
  • Sports
  • Tech & Autos
  • Home and Garden
  • Other Categories
    • Travel
    • Education
    • Entertainment
    • General
Reading: 5 Expenses Young Drivers Must Budget For
Share
Aa
The News God
Aa
  • Politics
  • News
  • Business & Finance
  • Lifestyle & Health
  • Law
  • Sports
  • Tech & Autos
  • Home and Garden
  • Other Categories
Search
  • Politics
  • News
  • Business & Finance
  • Lifestyle & Health
  • Law
  • Sports
  • Tech & Autos
  • Home and Garden
  • Other Categories
    • Travel
    • Education
    • Entertainment
    • General
Follow US
  • Why You Need to Read Business News Everyday
  • Why You Need to Read Business News Everyday
  • Advertise
  • Advertise
The News God > Blog > Business & Finance > 5 Expenses Young Drivers Must Budget For
Business & Finance

5 Expenses Young Drivers Must Budget For

Rose Tillerson
Last updated: 2023/01/18 at 3:39 PM
Rose Tillerson Published January 18, 2023
Share
4 Min Read
Similing driver talking with female passenger. Woman holding mobile phone in hand.
SHARE

Plenty of young drivers think that once they have covered the cost of buying their first car, life is sweet. You have wheels! No more relying on parents or friends! Can life get any better?

Contents
Driving LicenceCar InsuranceRoad TaxMOT and Maintenance CostsFuel

Sadly, car ownership isn’t cheap these days and the initial purchase price of your first car is just the beginning. Even if you can only afford an old junker instead of that nice, black Vauxhall Corsa you spotted in a showroom across town, there are plenty of additional costs to budget for. Here are the main ones.

Driving Licence

As crazy as it sounds, more than 14,000 people were caught driving on a provisional licence in 2020. Even more worryingly, 23 of them were only 13 years old!

It could be argued that the pandemic lead to a backlog of theory and practical driving tests, but there are still some young people who think it’s OK to drive before they have a full licence. After all, unless you get stopped, it’s no harm, no foul, right?

Wrong. For starters, you’ll likely be awarded penalty points on a future licence, as well as fined up to £5,000. It’s also a criminal offence.

Budget for driving lessons and the cost of a theory and practical driving test. Driving lessons cost, on average, around £34 per lesson. Taking a driving test in the week will cost you £62, and more if you book a weekend slot.

Car Insurance

Car insurance is a must-have, but some young drivers decide it’s much too expensive and don’t bother getting a policy. They figure their old car is worthless anyway, so who cares?

Unfortunately, car insurance isn’t only there to pay out if your old banger is hit by a tractor or you prang it on a lamppost. Insurance will also protect other people from your questionable driving.

Driving without car insurance and being caught will lead to a fixed penalty and points on your driving licence. Depending on whether you were involved in an accident or caused harm in any way, you could also be disqualified from driving and face an unlimited fine or even prison.

Road Tax

Drivers no longer have to display paper Road Tax discs on their windscreens, but they still need to pay for road tax. Costs vary according to the vehicle, so check before you purchase a car. The good news is that you can spread the cost over six or 12 months.

MOT and Maintenance Costs

Car maintenance costs can vary a lot. Some cars never need anything more than an annual service and MOT; others are forever breaking down. An MOT Birmingham will cost from £15 and an annual service can cost anything from £100 upwards. Always set some money aside for car maintenance so you can keep your vehicle on the road.

Fuel

Finally, budget for fuel. Work out roughly how many miles you are likely to do each month and use a fuel calculator to work out the cost.

Don’t underestimate the cost of car ownership. If you don’t have much money, consider the merits of using public transport or pedal power instead.

You Might Also Like

Understanding the Difference between Document Scanning Software and OCR

Why it is Still Profitable to Invest In Bitcoin?

How To Get A Business Loan With Bad Credit

Why is Revolut A Popular Alternative Payment Method?

Top marketing apps to use in 2023

Rose Tillerson January 18, 2023
Share this Article
Facebook Twitter Email Print
Share
Previous Article Who is Mykhailo Mudryk -Biography, Net Worth, Height Parents, and Social Media Contacts? Who is Mykhailo Mudryk -Biography, Net Worth, Height Parents, and Social Media Contacts?
Next Article 5 Signs When One Should Replace Old Electrical Wiring Finding The Best Electrical Contractors In Dublin
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Stay Connected

235.3k Followers Like
69.1k Followers Follow
11.6k Followers Pin
56.4k Followers Follow
136k Subscribers Subscribe

Ads

Latest News

Brad Pitt Biography, Wiki, Net Worth, Spouse, Family Background, Photos, Measurement, And More
Brad Pitt Biography, Wiki, Net Worth, Spouse, Family Background, Photos, Measurement, And More
Entertainment January 31, 2023
When To Replace Your Safety Glasses
When To Replace Your Safety Glasses
Lifestyle & Health January 31, 2023
How To Select Dental Loupes?
How To Select Dental Loupes?
Tech & Autos January 31, 2023
The Latest in Electronic Earmuffs
The Latest in Electronic Earmuffs
Tech & Autos January 31, 2023

You Might also Like

Document Scan
Business & Finance

Understanding the Difference between Document Scanning Software and OCR

January 31, 2023
Investing In Bitcoins: Why 2022 Is The Right Year To Start?
Business & Finance

Why it is Still Profitable to Invest In Bitcoin?

January 30, 2023
How To Get A Business Loan With Bad Credit
Business & Finance

How To Get A Business Loan With Bad Credit

January 30, 2023
Why is Revolut A Popular Alternative Payment Method?
Business & Finance

Why is Revolut A Popular Alternative Payment Method?

January 27, 2023
Show More

© 2022 Thenewsgod. All Rights Reserved.

  • About
  • Contact Us
  • Terms of Use & Privacy Policy
  • Advertise
  • Disclaimer

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?