Whether it’s getting to and from work or doing the school run, travel costs can’t be avoided. The Office for National Statistics that the average family in the UK spends £74 per week on travel costs – almost £1.5 billion combined.
But if you’re smart, you can save money in the long run. Here’s 7 ways to cut your travel costs:
- Shop around for cheaper petrol. Petrolprices.com provides a live feed of UK petrol prices which can also send the cheapest fuel information directly to your inbox. Saving just 10p a litre can save you £200 a year for the average driver.
- Shop around for cheaper car insurance. Use a car insurance comparison website to find the cheapest option. Websites such as Money Supermarket and Compare The Market will connect with hundreds of providers to find you the best deal.
- Share cars. If you’re commuting to and from work by car, sharing your car with others on the same route can save you money by splitting the travel costs. It also helps cut congestion and pollution!
- Save on car maintenance. Maintaining your car can be an expensive proposition, often requiring instant cash loans to pay for any necessary repairs. which is why we’ve compiled a guide to cutting the amount of cash you give to the garage.
- Get cheaper parking. If you’re having to pay high fees to park close to work, you could save by paying to park on people’s driveways! The JustPark website allows homeowners to rent out their driveways for much cheaper than commercial car parks.
- Get a railcard. A railcard is relatively inexpensive and can save you up to £200 per year if travelling by train. If you can’t afford the upfront cost of a railcard, you could consider applying for a small loan online to cover the cost until payday. A Network Railcard for over 16’s for example costs £30 a year and can get you 33% off tickets. If you’re travelling with the kids you can get a Family and Friends Railcard for £30 a year which gets children aged 5 to 15 a 60% discount on their fares.
- Ditch the car for a bike. Travelling by bike is much cheaper than the cost of running a car – and it can also keep you fit! If you’re using your bike to commute, your employer will likely have a Cycle to Work scheme, which allows you to get up to £1,000 worth of bike and accessories through a monthly ‘salary sacrifice’ which will save you between 25% to 39% in the long run. For more information check out the Cyclescheme how it works page.
If none of the above options are feasible for your situation – why not consider something more radical? You could switch jobs, request to work more from home or move closer in!