5 Ways to Cut Your Commuting Costs
Kim Lankford | Monster Contributor
July 26, 2011
Ever wonder how much money you can save by cutting your commuting costs? How about enough to pay for two trips to Ireland plus several major home improvements?
As chief of marketing for the Maryland Transit Administration, Buddy Alves set out to see how much money he and his wife could save on their commute from the Baltimore suburbs to their downtown offices. The couple started taking the light rail instead of driving separate cars and investing the cost difference in mutual funds. Not only did the Alveses save on gas and parking costs, but they also needed less car maintenance, saved on their auto insurance and got transit pass discounts from their employers.
After 10 years, the results were astounding: The Alveses had enough money to cover two trips to Ireland, pay for a $3,000 fence, spend $2,000 to repave their driveway and splurge about $4,000 to refurnish their living room.
AAA estimates that when you add in all the costs of commuting, including car depreciation, maintenance, tires, insurance and fuel, the cost rises to 55 cents per mile, so lowering your commuting costs can be a great way to put extra money in your pocket. Try these tips.
Improve Your Gas Mileage
Buying a fuel-efficient car is an obvious way to save, but you can make other driving decisions to stretch your gas mileage even further. Robert Hall, fleet environmental manager for UPS, which has more than 88,000 vehicles, knows firsthand how these strategies can add up. Here are his recommendations:
• Avoid left turns, which waste gas while you idle and wait to turn across traffic. UPS routes are designed to avoid them.
• Maintaining your car, which can be as simple as making sure the tires are properly inflated, can positively affect gas mileage.
• Reduce weight in the car. Unnecessary items can contribute to lower gas mileage.
• Avoid rush-hour traffic. Leaving a little earlier or later can reduce the amount of money you spend on fuel while you’re idling in a traffic jam.
• If both spouses drive to work in separate cars, use the more fuel-efficient one for the longest commute.