The average price of fuel has gone through the roof, with a barrel of crude oil reaching nearly $110 dollars in July 2022. This has a domino effect on the cost of transport, and a steady rise in the cost of living is soon to follow. Follow these guidelines to cut back on your monthly transport costs.
1. Save More On Fuel Costs
The only realistic way to combat rising fuel prices is to limit the number of times you need to fill up the tank in a month. Avoid making frequent trips to the grocery store and use apps that will help you to determine the most efficient routes to avoid traffic congestion. Practice sensible driving, as speeding can also result in more frequent stops at the petrol station.
2. Proper Vehicle Maintenance
When you maintain your vehicle, it will take better care of you and your finances. A vehicle that is maintained will give you fewer problems on the road, and you can add hundreds or even thousands of pounds to its value if it’s properly maintained.
3. Choose Better Auto Insurance
Insurance is a must-have; however, these companies can often charge customers an unfair amount on their monthly insurance costs. There are many factors that affect your monthly premiums. Vehicle owners should try to better manage the factors within their control to pay less on monthly premiums.
4. Purchase One Vehicle
Families often don’t need more than one vehicle, and owning more than one car can increase your monthly transport costs. This means extra monthly premiums for insurance, licensing, and maintenance. Try to manage your monthly transport expenses with one vehicle.
5. Use Other Means Of Transportation
Public transportation or sharing rides with friends, family, or co-workers can enable you to save tons on your monthly transport expenses. Relying on alternative means of transport also means that you will spend less on insurance, maintenance, licensing, or repaying a vehicle loan.
Bicycling is also common in certain communities, as it has the benefit of keeping you active, and besides maintaining the bicycle from time to time, you will have essentially zero transportation costs.
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