Having Insurance is a way to share the risk of financial loss with others.  It comes in many types and can be very confusing.  It is most important to select a trusted agent of a reliable insurance company.

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Take time to total the expenses related to this budget line.  estimate the fuel, oil, insurance, maintenance, finance payment of each vehicle.  Consider hidden costs such as parking fees, traffic tickets, annual property tax, toll road charges, etc.  Make sure these costs fall within the budget.  Remember to be sure that the family budget (NEED) sets the parameters of allowable automobile expenses and not the desire (WANT) which can force the budget to be over allocated in the transportation category.

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A BYU economics professor gave his class the following rule of thumb which has proven true in my professional and personal experience.  He said, "If you feel you will live in an area for less than two years and adequate rentals are available, do not purchase a home.  If you will be in a home two years or longer and you can find an adequate home you can afford to buy, then purchase".

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"The home itself symbolizes the temporal challenges that face us as fathers.  We go into debt to acquire one.  Financial prudence demands that we budget our expenditures, and our Christian concern for others dictates that we live within our means and pay our bills promptly.  Yet, as we build our homes, we must remember that the home exists only to serve our family; the family does not exist to serve the home.  We provide a home where our children may play, and welcome their friends as we welcome ours."

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Interest can be earned.

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