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Economic hard times, saving for the future, and living within your means are all great reasons to invest effort into cutting your transportation costs. A reduction in cost can be achieved by devising alternative means of transportation, investing in more efficient vehicles, and traveling in groups (i.e., carpooling) whenever possible. Studies show that transportation costs eat up a significant portion of the average person’s budget, and much of that cost is unnecessary if you’re willing to make a few minor lifestyle adjustments. We’ve put together a few suggestions for reducing the burden that transportation puts on your budget and some ideas for how to implement them in your own life.
Use Alternative Methods
The most obvious way to reduce transportation costs is to switch to some other transportation method that costs less money. Every transportation method has its own set of benefits and drawbacks. Public transportation, for example, is much more affordable than a personal car, but it is generally slower and less convenient. If a bus or subway station or stop is not near your office or home, you may have to walk the remaining distance or find another. sometimes costly, way to get from point A to point B. Bikes are a healthy way to get around but also come with a lack of protection that leaves you vulnerable to serious injuries. Walking is equally healthy, but the realities of long travel make walking a poor option for people with lengthy commutes.
Get a More Efficient Car
If you have the means, it might be worth getting a more efficient car. This might cost more money up front, but can save you a lot of money on gas in the long run. Major car companies have invested substantially in producing more environmentally-friendly cars. The first wave of gas-electric hybrid cars hit the American market twenty years ago, and the supply has steadily increased. Recently, all-electric cars have become more affordable, and they can save you a lot of money on fuel.
Consider Carpooling
Whether you’re going to the office, a ball game, or your child’s soccer practice, the chances are that you know someone else who is going to the same place. Carpooling is a great way to spread transportation costs around. Many companies now offer incentives to employees who carpool as well. As an added bonus, carpooling means you can use the HOV lane, which can save you time as well as money when you’re traveling on the road to work.
Institute these changes and you’re sure to see a much-appreciated drop in your transportation costs. With all of the methods discussed here, you might also consider the environmental benefits that come with burning fewer fossil fuels. Regardless of your choice, any of these options can help you to make your household budget stretch just a little bit further.
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