How to Save More Money on Transportation?
We can start by saying that budgeting can be compared to a highway: it’s the path that takes you from where you are to where you want to be. The only thing is that you have to stick with it. Advance.
And since we’re focused on finding smart ways to budget and be more efficient about it, we thought it would be a good opportunity to discuss cheaper transportation tips. After all, we all need to go from point A to point B in one way or another! So here are some of our tips on how to keep on trucking, but in a thriftier way.
Carpool with coworkers and friends.
The first tip combines saving money and socializing, so it’s definitely a successful combo! And, yes, we know: sometimes, the car is full of awkward coworkers who really can’t stand each other or share a ride with a stranger just to save a couple of bucks.
What if you’re allergic to their perfume? What if they’re avid polka folk musicians and you’re only looking for 15 minutes of peace? I know this also sounds like the perfect scenario for a sitcom. Carpooling does have its benefits, especially when it comes to your wallet.
I mean, have you seen those crazy gas prices last year? It’s better to save up a couple of bucks than spend all of it on gas, especially if you get stuck in traffic anyway.
Take advantage of public transportation.
If you have plenty of public transportation options in your city, it’s definitely worth your time to check if any routes might ease your way into the city. Nowadays, the offerings for those who live within the city range go way beyond buses and trains. You might even live in the suburbs, and you’ll be surprised by the choices available to you.
Save on car insurance.
Really now, when was the last time you even checked your car insurance cost? Oh, you never did? If that’s so, there’s really no reason to worry. You would be surprised to hear how many people forget about it. However, you could have an outdated policy, or even worse, you might be overpaying.
And if that’s the case, then you might want to remember and maybe change it. After all, who has time and funds to waste? No one; I’m telling you. Not in this economy. You will need to talk to an independent insurance agent. They usually don’t work for only one company, but they shop around and compare policies from a series of companies, only to find you the right one at the best price.
Save on gas.
Your grocery store could offer a bunch of gas rewards (also known as discounts on gasoline for buying groceries you need to buy anyway). Moreover, some warehouse stores, such as Costco and Sam’s Club, might offer lower gas prices to members.
But beware: even if some gas rewards programs might sound alluring, they are often linked to various credit card offers on the back end. You shouldn’t take the bait. However, when it comes to rewards, they aren’t the only way to save money at the pump.
You could also start with a no-brainer, like shopping around for the best gas prices. You could try using an app like GasBuddy, which is programmed to search around your local area to find the cheapest gas prices.
Ditch that car payment.
One of the best ways to save big bucks on transportation is to chuck your car loan. With an average car payment of around $667 per month, you could end up saving a lot of money. Here’s a good rule of thumb: if you can’t pay off your car in two years or even less, then you should consider selling it.
You can use the profits to pay off what you have left and buy a cheaper car in the meantime. You could always save more for your dream car over time.
Use cruise control.
If you’re spending a lot of time on the interstate, then you could cut back on all that pedal pushing by turning on your cruise control. You will definitely save on gasoline and leg cramps.
Get rid of that second or third car.
You could make a serious assessment of the cars parked in your garage, carport, or even on the street where you live. Is there an obvious difference between how many vehicles you actually need and how many you own?
If you spend over 15% of your monthly income only on transportation, then this trick might come in handy. If you’re “car poor,” which means that the overall value of your vehicles adds up to more than half your annual income, then you might want to consider selling off your extra set of wheels.
Trust me, it might come with a big boost to your budget. Of course, everyone’s situation is completely different. But this might be the answer to your too-tight-for-comfort budget issue or a way in which you could save on transport costs and get that much-desired debt snowball rolling at maximum speed.
Walk or bike when you can.
Well, I think it goes without saying that walking and biking can help you save a ton of money. It also means less cash spent on gasoline, but also a habit that would ultimately convince you to sell one of your cars, which only means more money saved!
However, we also care about your overall wellness, and research shows that “active commuting” like this can lead to a healthier cardiovascular system. So yes, this is a great way to bulk up your wallet and muscles as you strengthen your bank account and heart.
What? You don’t have a bike but you’d like one? Well, it’s only two clicks away from you!
Plan your parking ahead of time.
Extreme planners, we need to unite! And yes, we’ll have to integrate procrastinators, too! When it comes to parking expenses, you can easily save a lot if you know how to do your research before heading out.
Try to look online at the parking possibilities near the restaurant or party you’re headed to. While it’s true that you might have to walk a bit farther if you park at a cheaper lot, I think it’s safe to say that a little walk won’t hurt anybody!
You can also check out Parking Panda and ParkWhiz, two stress-free ways in which you can park downtown. Make sure you reserve your space to get even cheaper rates than you would for parking on the spot.
Download transportation-related apps.
If you want to save more money, just hold the phone. I know it sounds crazy, but it works. Use your phone to download super-cheap and useful transportation-related apps. Not all states will offer the same things, so you might have to look for things that are available in your area of interest.
Also, don’t forget to use a map app. Your phone will come with a default version, but you might want to consider Google Maps or Waze to avoid the traffic. Less time bumper to bumper also means less gas spent, so it’s definitely worth it. Less gas spent equals more money in your pocket. That’s the goal, right?
If you enjoyed reading this article, make sure you also check out: Inflation Is Still High—Yet Here Are 12 Things That Are Getting Cheaper
