May 21, 2013

Advice On Cutting Down On Travel Costs

Next to rent or a mortgage, travel costs are likely to be the biggest outgoing for most working people. With fuel costs rocketing, pushing up the price at the pump and on public transport, the key question is how to make every penny count when it comes to travel.

The best money-saving ideas aren’t rocket science, but often the simplest solutions are staring us in the face. So here are 5 quick tips to help you cut down on your travel costs.

1. Use Shank’s pony
- i.e. walk where you can. Not only will you get fitter, but you’ll be saving crucial cash every time you leave the car at home or bin the bus. It’s also the most Eco-friendly way to get from A to B.

2. If walking or cycling isn’t options and you simply have to drive, consider a car share - team up with colleagues from work who live close by and take turns in driving. There are also websites dedicated to matching car sharers if no work colleagues are suitable.

3. To make the fuel in the tank go further, drive economically - keep at a steady mph, don’t over-rev and stay in the right gear. Also check out supermarket deals where you can get up to 10p off the price of a litre when you do your weekly shop there. And sign up to websites that send you alerts of where the cheapest fuel is in your area.

4. Where public transport is your only option - make your money go further by buying a season ticket. Many employers offer an interest-free loan for this. Try to buy train tickets in advance when the prices are cheaper, or take the bus instead because coach tickets are still a lot cheaper than the train.

5. Get on your bike - even if you have the initial outlay of having to buy a bike, you might be able to take advantage of a tax break through the government-backed Cycle to Work scheme. Like walking, cycling will get you fitter and you can pat yourself on the back knowing you’re doing your bit for the environment. And you definitely won’t miss the frustration of having to sit in nose-to-nose traffic during your commute.

A few lifestyle adjustments might be needed but you can definitely cut down on your travel costs if you put a little thought into it. Even pursuing some of the above options for part of the week will help you to reduce overall monthly travel costs and means you are more likely to keep up the new regime in the long run.

Saving money is best achieved when beginning in moderation and once you are accustomed to the recent change you can alter your daily routines and patterns to be more aggressive over time. Money saving should be seen as a marathon rather than a sprint! One of the best ways to save money on travel is to get your household finances in order using tools such as a mortgage calculator to keep your overall spends in check.

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