The latest AAA Transport Affordability Index shows that common Australian households’ expenditure on transport rose by 7.4% in March 2023.
You can’t cut your budget on necessities, but you can switch your choice of transportation and approach to using it.
After all, vehicle fuel, maintenance, parking, and even violation tickets are getting more expensive daily. This could otherwise be put into an emergency fund or your debt (if you have one).
So, it’s high time you must embrace a few smart and effective ways to save a few bucks right now!
-
Use public transport
A trip down to the store with your car will cost you gas and, eventually, maintenance. But if you just take the bus, or other smaller public transport available, you can reach the store with more money in your wallet. Public transport is cheap and accessible, so make use of that.
-
Carpool with friends and coworkers
Check your neighborhood for how many of you work in the same area and go via car every day. Now, if you all take your car to work every day, all of you spend money on gas.
Whereas, if you take it once every four days and share your ride alternatively, you save on it. Carpool can significantly even lower maintenance costs.
-
Invest in a travel card
Buses, metros, and railways in most places offer you a travel card for a particular amount, which is less than paying a smaller amount daily.
If you are shifting to public transport, it is financially wise to invest in a card. Usually, there are promotional periods where you get cards at a discount, so use that and save money on transportation.
-
Avoid speeding
Speeding decreases the efficiency of your car. So, it would cost you car maintenance more regularly than desirable.
It also invites speeding tickets, especially in countries with heavily penalized traffic violations. So, avoid it by all possible means.
-
Book your tickets in advance
Booking your travel tickets in advance saves money. Because as the time window becomes smaller and smaller, the prices shoot up into the sky.
If you have decided that there is somewhere you want to be, don’t wait for too long thinking about it and look for discount offers to save money.
-
Invest in a caravan
If you love the thrill of going off-road and exploring extreme terrains, you probably book services that dig a hole in your pocket. After that, you probably can’t even think about another adventure for almost a year!
Renting transport can get so heavy on the pocket that you can hardly invest in other luxuries. In that case, go for a one-time investment in the best off-road caravan you can find. It will house you on your trips, is great for camping, and can fit your entire family.
Travel tickets and interstate travel can easily empty bank accounts if you don’t budget properly. You can also use it then and save accommodation as well. Moreover, when you don’t use it, you can rent it out for added income!
-
Assess your garage
Most households have two cars to benefit parents, grandparents, and children. An extra car means more gas prices, maintenance, and insurance.
Instead, if you can just time and share your car and resort to public transport occasionally, it will be financially more sustainable for you. If you are struggling with transportation costs, maybe consider selling one-off.
-
Be smart with parking
Do your research before heading to destinations. Look up spaces around your venue that are available for parking.
Various apps will help you find cheaper alternatives. Multi-storied parking and private driveways are comparatively cheaper than unresearched park-where-you-get-space places.
-
Check up on alternatives
Whether buying a car or car insurance, there is always a cheaper alternative with almost the same quality.
So, when buying a car, compare prices between diesel and petrol in your country and which is a better investment. Before deciding on insurance, look around alternatives and choose one that suits you.
Summing up…
Transportation, though expensive, is an important part of your life. But there are many ways to avoid blowing your money into the void. So, change your life with these ways and invest it in wiser choices later!
