1. Auto Insurance
Before I downgraded my vehicle, I owned a Mustang GT, which I purchased new. Having a 500 horsepower sports car in a city with a high crime rate meant I spent $257 a month on car insurance alone. I owned the car for two years, spending $9,252 in auto insurance during that time.
Sure, you can find ways to save on your auto insurance, but you could also just sell your car and not have to pay for coverage at all.
Read more at http://www.moneycrashers.com/living-without-car/#U33kpiv2BLjFkvzz.99