Transportation « FRUGILLIONAIRE

Frugal Transportation: Seven Ways to Save Money on Car Insurance

By Frugillionaire

Car insurance can take a big bite out of your monthly budget. Here are seven ways to save on premiums:

1. Shop around for the best rates. Websites like Insurance.com make it super-easy to compare rates from multiple companies.

2. Review your policy. Recent changes in lifestyle or driving habits—like marriage, or a shorter commute—may make you eligible for lower rates.

3. Choose a higher deductible. The higher your deductible, the lower your premium–just make sure you have enough cash to cover it in your emergency fund.

4. Drop collision and comprehensive coverage on old, cheap cars. Don’t pay for this extra coverage if damages are likely to exceed your car’s value.

5. Consolidate policies. Get a multi-vehicle discount by insuring all of your family’s cars on the same policy.

6. Ask about discounts. A good driving record, membership in certain associations, or safety and anti-theft equipment in your car may qualify you for reduced rates.

7. Don’t pay for unnecessary coverage. Drop extras like towing and rental car coverage if you don’t need them—for example, if you belong to AAA, or have access to other transportation if your vehicle is in the repair shop.

Frugal Transportation: Five Cheaper Ways to Get to Work

By Frugillionaire

Gas prices got you down? Here are five ways to save some serious cash on your daily commute:

1. Take public transit. Ride the bus, train, or subway and let someone else do the driving.

2. Carpool. Share rides to work with colleagues who live in your area, or find carpool partners on eRideShare.com or Carpoolconnect.com.

3. Commute off-peak. Traveling when roads are less congested reduces wear and tear on your car, and increases your fuel efficiency.

4. Flex your schedule. Work a four-day schedule of ten-hour shifts, or telecommute one or more days per week.

5. Ride your bike. If you live close enough to your place of employment, consider riding your bike. You’ll save a ton of money on gas, and get some fabulous exercise (without the cost of a gym membership)!

Photo: http://www.flickr.com/photos/crobj/ / CC BY 2.0

Frugal Transportation: How to Save Money when Buying a Car

By Frugillionaire

Buying a car is a major financial transaction; it can dramatically decrease your savings, or increase your debt. Minimize the trauma to your net worth by heeding the following tips:

* Shop smart. Before you go to the showroom, find out the invoice price of the vehicle in which you’re interested. Start negotiations at the invoice price, rather than the sticker price.

* Skip the status car. Luxury vehicles cost more to purchase, service, maintain, and insure. Instead, buy a reliable car that gets you from point A to point B.

* Buy a used car. New cars depreciate at lightning speed—save all that money by buying a used one instead.

* Think mpgs. Choose a fuel-efficient car, and you’ll reap the financial rewards for years to come.

* Pay cash. You’ll save thousands of dollars in finance charges, and may be able to negotiate a better deal.

Photo: http://www.flickr.com/photos/7592734@N08/ / CC BY 2.0

Frugal Transportation: Save on Gas with Good Habits

By Frugillionaire

Bad driving habits can cost you dearly. Not only do they increase your chance of getting a ticket; they also decrease your fuel efficiency, forcing you to fill the tank more often.

Cultivate the following good habits, to maximize your miles-per-gallon and save money on gas:

* Lose the lead foot. Stick to the speed limit—fuel economy drops significantly at higher speeds.

* Drive at a constant speed. Quick acceleration and hard braking increase wear and tear on your car, and decrease fuel economy.

* Check your tire pressure. Keeping your tires properly inflated will extend their life, and improve your gas mileage.

* Lighten your load. The more junk in your trunk, the more gas it’ll take to get where you’re going.

* Change your air filter. When the filter is clogged, the engine must work harder, and fuel-efficiency is decreased.

Photo: http://www.flickr.com/photos/87913776@N00/ / CC BY 2.0

Frugal Transportation: Share a Car Instead of Owning One

By Frugillionaire

Do you live in an urban area, and drive your car infrequently? If so, it may make more financial sense to share a car, rather than own one.

Car share programs let members rent cars by the day, or by the hour. When you sign up, you’ll be provided with a key or smart card that’ll open any car you reserve. Cars are typically distributed throughout metro areas in designated parking spaces.

When you need a set of wheels, choose a pickup location and make a reservation online or by phone. Use your key or smart card to unlock its doors and drive away. It’s that easy!

On the fence about ditching your ride? Consider the financial benefits of using a car share for your transportation needs:

No loan or lease payments. Cars are expensive—you’ll have to either part with a large sum of cash, or make monthly payments, in order to get into one. Car shares eliminate this major expense from your budget.

No insurance payments. Insurance is included in car share rates, so there’s no need to purchase your own policy.

No maintenance costs. You won’t have to deal with the costs (or hassle) of oil changes, maintenance, or other repairs. Anyone who has owned an older car will particularly appreciate this benefit!

No parking fees. When you don’t own a car, you don’t need to pay for a place to park or store it. This can mean significant savings in major cities, where parking is at a premium.

No state registration fees. You’ll avoid the expense (and trip to the DMV) to register a vehicle with the state.

Also: gas is typically included in the rates, so you won’t need to pay extra to fill up.

Visit these sites to find a car share program in your area:

Zipcar (nationwide, some international locations)

City CarShare (Bay Area, CA)

PhillyCarShare (Philadelphia, PA)

e-Go Carshare (Boulder-Denver, CO)

I-GO Car sharing (Chicago, IL)

Austin CarShare (Austin, TX)

U Car Share (nationwide)

Photo: http://www.flickr.com/photos/andrewcurrie/ / CC BY 2.0

Cut Your Commuting Costs with Public Transit Incentives

By Frugillionaire

Taking public transit is a wonderful way to cut your transportation costs. But did you know that this wallet- (and eco-) friendly choice can save you even more money?

Many companies subsidize the cost of public transit for their employees. Such compensation may be in the form of passes, vouchers, or even cash. That’s right—your employer may actually pay you to take the train to work!

This benefit is typically tax-free, and can drastically reduce your commuting costs.

Alternatively, you may be able to deduct public transit costs from your paycheck in pre-tax dollars. In other words, your bus tickets may reduce the amount of income tax you owe.

Contact your employer, or public transit authority, to find out what incentives are available to you. More information on such programs can also be found on the following websites:

American Public Transportation Association

CommuterChoice.com

Federal Transit Administration: Commuter Choice Toolkit

Photo: http://www.flickr.com/photos/dallas123/ / CC BY 2.0

FRUGILLIONAIRE

Frugal Transportation: Seven Ways to Save Money on Car Insurance

Frugal Transportation: Five Cheaper Ways to Get to Work

Frugal Transportation: How to Save Money when Buying a Car

Frugal Transportation: Save on Gas with Good Habits

Cut Your Commuting Costs with Public Transit Incentives

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