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Sunday, July 14, 2019

Save Money by Lowering Transportation Expenses

Transportation can be quite pricey, especially if you live in an area like I do with high costs of cars and gasoline. Here's some ideas from a reader on how to cut back on your transportation costs.

Image by Peter H from Pixabay
Want to add more to your savings? Start by saving on your transport costs.


If you’re looking to save for a new house, book a holiday of a lifetime or clear some outstanding debt, then you’ll likely be looking for as many ways as you can to boost your savings.
Day-to-day transportation is probably one area where you could easily make lots of quick savings, which over time will add up to extra savings which can contribute to your savings account.

If it is debt that you’re suffering with, then it’s wise to take the time to get some free debt management advice from a company such as Carrington Dean – to find out more click here.

Currently running two family cars?

Excluding London, the average household in the UK has more than one car, however do all families need more than one vehicle? If you own a vehicle that is very rarely used then you could be using a lot of unnecessary funds which could be better used in your savings pot.

Think about how much you could save by effectively halving the fuel, repair bills, insurance and road tax that are incurred by your household’s vehicles, not to mention the windfall you could receive for selling one.

Whilst not everyone’s ideal, public transport is a good way to reduce costs whilst still being able to get yourself to work on time. Admittedly there is a little less flexibility than you would have with a car, but the savings can be massive.

Find a colleague to carpool with

The likelihood is that at least one of your colleagues will be travelling from a similar location each day, so why not propose a car share? By sharing the travel with one or more of your colleagues, not only will you save on fuel, but you’ll also significantly reduce the wear and tear on each of your vehicles, especially as shorter journeys cause the biggest impact on vehicle wear and tear.

Aside from the financial and economical benefits, you’ll also be doing your bit for the environment.

Get on your bike!

One of the best ways to not only save money, but also improve your health is to start cycling to work. Many workplaces now offer incentives and deals for employees who are willing to trade four wheels for two.

If you often spend your commute sat in traffic, then you’ll also enjoy zipping past the traffic whilst also having much less impact on the environment than those sat behind the steering wheel, not to mention the money you’ll save on fuel.

Make sure your car is serviced and maintained correctly

If a car is a must for you, then ensure that it is kept well-maintained and serviced to ensure that you’re getting the best fuel economy from it.

Your tyres can have an impact on fuel consumption – by not having them inflated correctly, you’ll be overusing fuel, so ensure that you take every opportunity to top them up with air. Similarly, ensure that your car is serviced either annually or every 10,000 miles to ensure that everything is working efficiently and that the oil is either replaced and topped up.

See my disclaimer.

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