5 ways to cut transport costs (tips to save on transportation)

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IF YOU’RE SICK OF PAYING MORE FOR TRANSPORTATION THEN YOU SHOULD, HERE ARE 5 tips to save on transportation THAT YOU CAN USE TO SUBSTANTIALLY CUT YOUR TRANSPORTATION COSTS. THESE TRANSPORTATION HACKS HAVE WORKED FOR MANY FINANCIALLY SAVVY PEOPLE IN THE PERSONAL FINANCE COMMUNITY. NOW IT’S YOUR TURN TO CUT BACK ON YOUR TRANSPORTATION COSTS

#1. Carpooling

Carpooling is especially practical where people regularly travel to and from the same location.
Costs are split by rotating drivers and cars or by passengers paying an agreed amount for travel.
Some companies sponsor ride-sharing programs for their employees, including the use of a company-owned vehicle.
With carpooling, you’re able to save a lot of money especially with a larger group of passengers tips to save on transportation
Let’s say gas and parking costs in your region and vehicle amount to $300 a month
By sharing the ride with 2 other riders, you’ll be able to save 66%. So that $300 a month becomes $100 this will help reduce transport expenses

As we all know, carpooling is more economically friendly and sustainable
#2. Public Transportation
The costs of operating a small car – including fuel, maintenance, and parking – can exceed the food budget of many families.
Public Transportation can go from $2.5-$5 per trip which can amount to $2,400 annual while owning a vehicle can cost you over $10,000 annual with insurance, maintenance, insurance, gas and financing.
This is huge on reducing transport expenses
Even with low income, this transportation method works well

I understand it can be difficult to remove a vehicle depending on your lifestyle, but the savings are substantial
Smaller communities offer scheduled bus services, while larger cities combine reliable bus services, rapid light rail, and commuter rail systems that are inexpensive and extensive.
#3. Bike it
If you’re a student and wondering how to save money on transportation in college, this tips works well for you
This one may work for you depending on your lifestyle
This is more realistic living in a metropolitan area instead of a suburb, unless you’re fine with the extensive biking
Many communities encourage bicycling with sponsored bike share programs like Bike Share in Toronto and open bike lanes for commuting.
A quality bike plus maintenance and a lock can cost you anywhere from $700-$2,500 upfront. annual maintenance can cost you a few hundred dollars a year
This is much more money friendly then the $10,000 annual price tag of having a vehicle

      #4. Gas saving apps

If you’re watching your savings dwindle thanks to the price of gas, then it’s time to get out your phone.
Many gas money saving apps like GasBuddy map the nearest gas station and allows for sorting by price or location, so that you can find the cheapest one near you.
These apps use GPS to locate the nearest gas station near you by postal code or city.
Many of them are free and work on either android and apple devices
You can save $0.05-$0.15 per leter or gallon, depending on the unit of measure of gas
Just make sure you have space available on your phone so you have your app installed ready to go and begin the savings

# 5 Shop for the Best Financing

As the prices of automobiles increase, more buyers are forced to borrow money to acquire a car. This tip can really cut your transportation bill

Make the highest down payment possible. If you’re unable to pay for the vehicle in cash then put down the largest down payment. The more equity you have in your car, the less interest you will pay
You should also shorten the term of your loan because reducing the term of your loan may require higher monthly payments but have you paying less interest on the vehicle with this money saving transportation tips.
You should check many financing providers to get the best rate possible to reduce the interest.Also, make sure to Read the sales and finance contract and make sure they’re no hidden fees involved with the vehicle

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10 Ways to Minimize Your Transportation Costs and Save Money

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