Many people spend thirty to forty percent of their income on transportation. This can put an enormous strain on your budget. But there are many ways to cut your costs.
Walk or bike. Sneakers and bicycles are much less expensive than cars and most people already have them. Spending a few minutes to calculate distances in your neighborhood and consider whether you really need to drive to the grocery store, pharmacy, post office, bank, etc. can save you a bundle on gas because those little trips quickly add up. If you have a short commute, you can save a lot on gas and parking costs by walking or biking to work. You can also consider cutting out your trip to the gym or other exercise time in exchange for your new, healthy commute.
Public transportation. If you live in the city, it might make sense to sell your car and solely use public transportation like the bus and subway. But even if you keep your car, it is likely cheaper to commute to work with public transport. Some companies even offer incentives for employees who use the bus system or subway.
Carpool. If you have to use your car, consider ride sharing, especially for your daily commute. Drive into work with a co-worker or two and alternate which one of you drives. It will save wear and tear on your car and decrease gas costs for all involved.
Buy a used car. Cars lose value quickly starting from the moment you drive a new vehicle off the lot. But a slightly used car that is five years old or less you ll save a lot of money but still have a nearly new, reliable car to drive. You might even be able to invest in a type of car that you couldn t afford new.
Shop gas prices. While it doesn t make sense to drive fifteen miles out of your way to save ten cents a gallon on gas, there are smart ways to save money in this department. Compare prices along routes you usually drive (your commute, trips to the grocery store, your kids school etc) and within a couple miles of your house. You can save money on gas without have to spend gas to do it. Also, keep your eye out for specials, coupons, and rewards cards for fuel.
