Not only is carpooling and public transportation good for your wallet, its good for the earth too! Next time you choose public transportation or a shared ride over your single-occupancy vehicle, calculate your carbon savings.
Here is another calculator, run by Terrapass, that combines carbon emissions from transportation and home energy use.
The Nature Conservancy offers an interactive calculator for overall carbon footprints of individuals and families.
Banks consider all of your assets and loan payments when approving a mortgage, so it is important to know how your car payments factor into your buying power for a new home. Peter Grabel, a mortgage loan originator, notes that a $430 monthly car payment could reduce your mortgage borrowing power by $100,000.
Try out this Smart Asset calculator to see how owning a second car might affect your ability to finance your dream home. Consider downsizing to one car and using public transportation or ride sharing more often!