My friend’s parents were recently locked in a marital battle.
They wanted to travel from Michigan to Florida for a wedding, and she wanted to fly for free using frequent flier miles they had accrued. The transportation cost for the trip would be limited to the car they would rent for three days when in Florida.
He, on the other hand, thought it was silly to rent a car when theirs worked perfectly fine. He wanted to make the 24 hour drive down to Florida for their three day trip. He was sure this was the cheaper way to travel, even though they would have to pay for gas and put wear and tear on the car.
Ah, the rental battle.
Is it worthwhile to pay for a rental? The answer, in all honesty, is often that it depends. However, in this case, simple math would have shown him that her plan would have been the cost saver.
Marital battle aside, we Americans don’t often think of renting outside of cars and apartments. Instead, our first thought tends to go to ownership.
There are just a few things we automatically think of renting–of course, cars when we are traveling, tuxedos when our children are going to prom or when men get married, apartments, sure. But for most other temporary needs, we tend to buy instead of rent.
However, if we could let go of this mindset, we may save a substantial amount of money.