We all know that taking your own car to work every day costs more money than taking public transportation. One can even be annoyed at spending money on their car when they could have used it for something else. However, you can save more by altering your habits and implementing these simple suggestions that we have taken from a few common yet smart people who have tried and tested them on their budget.
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In this week's edition of #It's Time series, we have compiled the ways in which you can save while you travel to work. Remember, we all know these little things but tend to avoid them in our ignorance.
For Those Who Can Avoid Using Personal Vehicles:
1. Utilize Public Transportation Whenever Possible
"Commuting daily from home to the workplace and vice versa is really a task. It is preferable if a person stays close to their office, but this is not always possible. Keeping that in mind, I prefer using a combination of auto and metro. I feel Metro is the saviour when it comes to traffic during rush hours. And it not only saves money but also time," shared Priya Mishra, who is a PR professional and travels daily from Noida to Delhi for work.
"One has plenty of options if they decide to opt for public transportation. We have buses, metro, rickshaws, etc." suggested 28-year-old Junaid Alam, who travels to Punjabi Bagh from Saket in New Delhi for work.
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Bonus Tip: We can always walk or use bicycles to reach at least half of our destinations, like metro stations or bus stands. This will save money and keep us active and healthy, but it must be planned ahead of your office punch times.
2. Consider Carpooling
"Always try carpooling with coworkers or even friends who work at or near the same location as your home or office," said Yachika Saini, an architect whose job requires a lot of travel.
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Fun Fact: Splitting the cost of petrol with even one additional person in a car can save you up to 49, 000 rupees per year if you drive the average commute (25 kilometres one way).
3. Check Your Transportation-Related Apps
We've all learned how to use taxi ride apps by now. 26-year-old Ativ David, who works as a media professional, shared that he always plans his exit times from the office and from home in accordance with cab fares and traffic.He compares the prices of different apps as they vary when there are office hours.
Ativ David
Bonus Tip: Saving on petrol for your own good indirectly also contributes to the environment.
For Those Who literally Cannot Survive Without Their Cars Or Bikes:
If you are one of those people who, despite knowing all of the money-saving tricks, just cannot avoid taking out the car daily for work or you love the comfort of your car so much that you just cannot adjust to using public transportation, then we have something for you as well.
Here are some tips and tricks for public transportation haters:
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1. Don't Go Too Fast
Speeding is not only dangerous; it also depletes your petrol tank. It's a big deal. Reducing your speed can increase your "fuel economy," says financial consultant Ramsey Solutions.
So, take a deep breath; if you drive within the speed limit, you will undoubtedly save on petrol hence pay less at the pump, and, of course, reduce your chances of receiving a challan.
2. Less Is More
Consider being happy with the one car you have. Try selling your second or third car. According to the American Public Transportation Association, 94 percent of the money that we spend on transportation actually goes towards purchasing, maintaining, and operating automobiles. According to the non-profit group's statistics, taking public transportation and living with one fewer car can save a household thousands of rupees per year.
3. Strategize Your Car/Bike Maintenance
Opt for vehicle insurance after comparing prices: Shop around because prices can vary. If you have good credit, are a safe driver, have low mileage, or other factors, some insurance companies may offer discounts on your premiums. Be sure to inquire.
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Maintenance is essential: Keeping air in your tyres and getting regular oil changes will help your vehicle run more efficiently and, as a result, more affordably. Additionally, a vehicle that has been well maintained sells for more.
Avoid the car wash:People should avoid going to the car wash. Wash your car by hand two or three times per month, and you'll have enough money saved to buy a full tank of petrol!
Finally, but certainly not least, create a budget for all transportation expenses.You're halfway there if you know what your travel requirements are. Making a transportation budget should always be a part of your personal finance plan, whether you're calculating the cost of your commute to and from work or calculating the cost of your personal errands.
There may be additional ways to save money on daily transportation. If you have any recommendations, tell us in the comments below.
