If you remember from Part 1, I was caught speeding 15 mph over the speed limit and was given a ticket. What followed ended up being the best part of $1000 in fines and increased insurance premium and the loss of my good driver bonus over 3 years.
Moving onto Part 2.
Every weekend across the country, there are instances where people decide to have alcohol or drugs and then proceed to get behind the wheel. The results are disastrous for that driver who is caught. Remember this post is from a Personal Finance point of view and how this can effect your pocket.
I know a couple of people who have recently lost their licenses because of driving under the influence(DUI). The results are disastrous.
Their license was taken away which means a huge inconvenience for loved ones who depend on transport from the driver or for them even getting to work. The alternative is Uber, taxis, buses and friends which can get expensive and strain relationships.
The court cost and other legal fees top $10,000 easily.
As DUI’s are felonies, there are a number of jobs that are not open to people. If you work in finance, such as the investment sector, there is legislation that does not allow” felons” to work in this space.
If you have a job, there may well be a clause in your contract that says if you are convicted of a crime, it is immediate grounds for being fired.
Depending on your job, if you lose your license, you will not be able to work and therefore lose your job.
Future employers, many colleges and universities also require that you disclose any convictions, which in turn could affect your chances of being successful in gaining employment or a place at college or university.
Your insurance may well be rescinded, or your new policy will be astronomically more expensive as you are a risk to other drivers.
If you plan to drive for a living. A DUI will stay on your license for 55 years which basically means your driving career is over.
So, the moral of the story, if you are having a drink, think of the consequences. Please also take into account that being “buzzed” when driving is also classified as a DUI.
Back to Personal Finance. You can only spend a dollar twice, and it is easier to spend it than earn it. Spend wisely and think of the consequences. It takes a long time to earn back the $10,000 that would have been paid out to defend yourself in court.