Save Money on Your Commute

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.