I'm also in MA and our family shares 1 car. I drive it every day to work because my job is outside of Boston about 30 miles. I spend $40/month on car insurance, $200 on gas, and $100 in tolls. I don't know if you have the advantage of the T, but my wife uses it exclusively and it only costs us $59/month to go anywhere in the city. Add in some cab rides, about $30 of me using the T every month, and we're still ahead of where we would be with a 2nd car.
Also to our advantage, when we sold the 2nd car, it was about time to buy a new one anyway, so we avoided buying a new(new to us) car, insurance of about $50 more/month, $100 in gas per month, $200 in parking while my wife it at work and maintenance. If you have it available, Zipcar is quite good as a backup. It costs $50/year plus from $7-11$/hour to rent a car including gas and insurance. We each have a card so that if the other has the car, we can always rent one. Car sharing is a pretty cool alternative to a 2nd car.
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