How to Save Money on your Daily Commute

commuter at a train station waiting to board a train

Commuting can be challenging at the best of times, both from a logistical and financial perspective. This is particularly true in bustling locations like London, where increased tickets prices and a higher base interest rate are forcing commuters to pay nearly £400 more than they were a year ago. If you can identify with this, the chances are that you’ve already considered ways of reducing the cost of commuting. However, this is easier said than done, unless you’re able to work from home on a more regular basis. With this in mind, here are some interesting tips that can help you to save money on your daily commute.

Consider the Healthy Option 
If you regularly drive to work, you may have considered sharing your journey with a colleague as a way of halving fuel costs. If you’re serious about reducing costs and minimising your own individual carbon footprint, you may want to consider taking a bike or even walking to work. This will depend on the distance you have to cover as part of your commute, but these modes of transportation can eliminate carbon emissions and contribute heavily to a more positive environment. As a note of caution, you should also look to map out your route to ensure that there are adequate walkways or cycle paths, otherwise you may find that not driving is a relatively risky move. If you do decide to walk or cycle, you may also be able to cancel your gym membership and save even more money! 

Consider Public Transport 
Throughout the western world, there’s a drive by governments to promote the benefits of public transport and reduce carbon emissions nationwide. This is well worth consideration, as public transport offers an environmentally-friendly and often cost-effective way of completing the daily commute to work. Even if you cannot identify a door-to-door bus or train route, you could consider combining this with walking or cycling to complete your commute. This will also reduce your cost further, while helping you to strike the ideal balance between functionality and health. The key is to determine whether or not travelling on public transport is cheaper than your weekly fuel and parking costs, while also seeking out competitive discounts by investing in monthly bus or rail cards and paying by direct debit. 

Reduce the Cost of Parking and Driving in General 
If you work in the middle of nowhere, or at least a considerable distance from your home, it may be impractical to consider any other mode of transport than driving. In this instance, you’ll need to reduce the financial burden of commuting by focusing on fuel and parking costs, along with any other fiscal concerns caused by operating a vehicle. When it comes to parking, we’d recommend identifying free-to-access locations that are available all day, even if they’re located further away from your place of work. This may only be possible in city centre locations, but it’s well worth exploring your options as a way of reducing costs. In terms of fuel, it’s a great idea to analyse your potential routes to work before determining the best one, as this may deliver incremental savings over the course of the year.

No comments