Saving Money: 5 Nifty Tips to Save on Transportation Costs

We are all constantly focused on getting from here to there. Between work, school, and activities, moving from place to place is an integral part of the modern lifestyle. The expenses involved can also add up, and here are some nifty tips to save on your transportation costs.

Cutting down on these costs can make a large impact on your bottom line, freeing up monies in your budget to use for other purposes.

Drive Your Car Less

The first tip is fairly straightforward, though not always so easy to follow: drive less. This does not mean that you need forgo trips, but rather to think about alternative modes of transportation.

Carpooling to-and-from work can be a great option. Not only will it cut down on gas and wear and tear on your vehicle, but it can also allow you to spend the time when you are not driving pursuing other activities such as reading, listening to music, or conversing with your fellow travelers.

In that vein, using public transportation can also serve as a cheaper alternative to driving your car. While not available or convenient in every geography, buses, metros, and even trains can often get you where you need to go. Sometimes they will even help you to avoid getting stuck in traffic, either by bypassing the road entirely or traveling in specific lanes reserved for buses.

Lastly, good old fashioned walking or biking has a number of extra benefits, beyond simply saving money. Getting exercise is always a smart move, and traveling under your own two legs also cuts down on pollution.

Even if it does not make sense to transition to any of these options on a full-time basis, thinking about ways to incorporate carpooling, public transportation, and your legs into your regular schedule once or twice a week will add up.

Drive Your Car Smarter

Driving carefully will help you get where you need to go in safety and security. It can also help you save money.

First off, by driving within the speed limit and obeying other traffic laws, you will avoid getting a ticket. These expenses are completely unnecessary, and can be quite painful to your pocket book.

Driving within the speed limit will also help you to decrease your gasoline usage. Even slowing down by 10 miles-per-hour can increase your fuel economy, and your savings.

Lastly, be sure to take good care of your car through regular maintenance and upkeep. This includes monitoring the air pressure in your tires and getting the oil changed, both of which can help increase your fuel efficiency.

Also, instead of spending money on a car wash, try to do it yourself. It can even be a fun activity on a hot summer day.

Spend Less on Your Car Purchase

Many individuals view the make and model of their vehicle as a status symbol. Do not fall into this trap.

Purchase your car because it can safely and reliably get you and your loved ones where you need to go. Anything else is a bonus.

That does not necessarily mean that you should not use an auto loan to purchase your vehicle. If you can obtain financing at a reasonable rate, a loan can help you to get the car that is right for you. Using TipRanks’ auto loan calculator can help you understand both your monthly payments and the overall cost of any financing.

In addition, the government offers a number of tax breaks for electric vehicles. Make sure to research these options to avoid leaving money on the table. Not only will this help you save on gas, but it is also better for the environment.

Compare Insurance Options

Car insurance is not only a good idea, it is the law. Making sure that you are covered in the event of an accident is simply mandatory.

That does not mean that all insurance options are created equal. Do not settle for the first one that you chance upon, but compare and contrast a few different plans.

Even if you have been using the same plan for years, take a few moments to research some alternatives. You may find that there are other insurance companies who will offer you a better rate, while ensuring that you are covered in the event of an accident.

Plan Ahead for Parking

Parking is one of those transportation costs which are often not fully considered. Much of the time, in fact, we are do not even think about it until we get where we need to go.

A little research, however, can go a long way. Instead of automatically parking at the closest available spot, look online beforehand to see if there are cheaper options close by. This is especially important when you are leaving your car for longer periods of time, such as at the airport.

There are often less expensive lots not too far away from your desired destination. Make sure to look and see if any of these options can save you cash.

Conclusion: Getting There, for Cheaper

Every budget should set aside money for the necessities. Transportation costs certainly need to be budgeted and accounted for. This does not mean that there is no room for maneuvering, and there are plenty of steps you can take to decrease the amount of cash you are spending traveling from place to place.

Your goal should be to efficiently get where you need to go, safely, comfortably, and with as few headaches as possible. It is true that we should enjoy the journey, and not just the destination. But an enjoyable journey still should not cost a fortune.

Learn money management, and use data-driven stock insights with TipRanks.