Owning a car can add up to $10,000 in average costs to your budget each year. With the constantly rising cost of gas, routine maintenance, and the risk of needing a bigger repair, the financial cons of owning a vehicle might outweigh the pros. While the cost of traveling via car might not be as expensive as traveling on a jet from Access Global, the cost can add up, and can make a major dent in your family’s budget over time. If your household requires a vehicle due to your family’s lifestyle and responsibilities, it could be helpful to find some occasional alternatives for driving which can save you a bit of money in the long run.
A few simple ways you can reduce your transportation costs include:
- Walk or Bike
In the warmer months, a great way to reduce costs associated with transportation while getting some exercise is by walking or biking to your destination. This is also better for the environment! Try walking or biking to work or running errands just a few times each week – your wallet, body, and the planet will thank you.
- Carpool
If you are able to carpool with a coworker or send your children to school with other parents to decrease the amount of driving you do some days, this can save you hundreds of dollars per year on the cost of gas. Take turns driving with other coworkers or parents, and you can all save money.
- Use Public Transportation
If you live in an area with relatively accessible public transportation, taking the train or bus to work or school just a few times a week can help you save money. Plus, if you live in a major city, taking public transportation can sometimes help you avoid extreme traffic and save you time on your commute.
- Carshare
For those who live in bigger cities like Los Angeles or New York City where owning a car could be helpful, but isn’t necessary, car-sharing services can be an extremely helpful tool. Simply pay for the shared vehicle when you need to use it, and avoid payments otherwise – plus, you don’t have to worry about routine maintenance or repair costs.
- Join Gas Rewards Programs
If you must drive your car frequently, make the rising costs of gas slightly cheaper by joining the rewards programs at your local gas stations or using a credit card that offers savings or cash back rewards. This can help you save up to 50 cents per gallon, and can allow you to earn some money back over time.
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