Did you know that a 2009 report from the American Public Transportation Association estimated that Americans can save thousands of dollars by switching to public transportation? The Association determined this amount by comparing the average monthly transit fares to the average cost of driving. In cities like New York, Boston and Philadelphia, the annual savings for one person to switch to public transportation was over $10,000!
Two-car families can save by switching to a one-car household, saving money on additional automobile insurance, fuel costs, maintenance costs and parking. The savings could be put toward a future purchase of a newer, more fuel efficient car or another savings goal. Carpooling is another way to save money by splitting gas costs; it can make a trip more interesting, and sometimes faster if your commute has HOV or carpool lanes.
If you already utilize public transportation or are going to start, consider purchasing monthly or weekly passes to save money. Some employers offer pre-tax commuter benefits, such as discounted passes. Or look into transportation during off-peak hours—sometimes the difference in price can add up if you take an earlier or later train to avoid peak travel times. Of course, walking or riding a bicycle can offer even greater savings and have a healthy impact on your life as well.
Visit www.feedthepig.org for more money-saving tips.
Thursday, August 12, 2010
Monday, August 9, 2010
Start Planning for the Holidays Now
The temperature outside may not make you think of winter holidays, but 2010 has flown by and we are officially more than half-way to the holiday season. Now is the perfect time to get a jump on your plans for the holidays. Here are a few tips from Benjamin Bankes for how to spend wisely now for your year-end holidays.
Do you have any travel plans for the holidays? Investigate flight options now before the fares grow even steeper. Now might be the perfect time to schedule a few days off that aren't peak travel times—prices are always highest, and delays the worst, during the most congested travel days. Traveling a few days before or after the holidays, or even on Christmas day itself, could save you time and money. Being flexible on your travel dates will help your wallet.
Are you giving gifts this winter and, if so, how many? Sit down now and make a list of gifts you need to buy and what each person might like. How much can and should you spend for each gift? If you can determine your gift list, you can determine how much you need to save from now until December. Putting aside $5, $10 or $25 each paycheck will add up quickly and you won't have to worry about how to pay for
gifts in December.
Are there any sales to take advantage of this summer or fall? If you know what gifts you are planning to buy, you can take your time to look for, or wait for, sales for your purchases. There are usually sales for Labor Day, Columbus Day and Veterans Day. Extra bonus—you also won't have to deal with the holiday crowds and lines when shopping in December.
Are there any gifts you would like to give that you can make yourself? Planning this far in advance for baked goods doesn't work well but other handmade gifts are usually appreciated and appropriate. Start knitting someone a scarf now and you will have plenty of time to finish before winter.
Does anyone on your list need more time or help to tackle a big project? Time and assistance on projects like organizing the attic or cleaning out the basement could be a great gift you may not have thought of. Time may be money, but sometimes it is easier to find the time for a project than the money for a large purchase.
No matter what your plans are for the holidays, taking steps now will help you stay within your budget later.
Visit www.feedthepig.org for more money-saving tips.
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