How much is your daily commute actually costing you?
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Do you commute to work every single day? If so, this could be affecting your budget in a huge way. In fact, just an average commute of about 20 miles to work can cost you about $5000 a year, depending on your vehicle and the price of gas. Most people spend a lot more money than they realize commuting back and forth to work, which bites into the amount of money that you are making at that job.
If you're considering moving, you definitely want to think about your commute to work. If you only lived a few miles from work, you'd save thousands of dollars each year, which means you would have a lot more money for other things, including your mortgage payment. A shorter commute to work also means hundreds of hours of time left over each year for you to use the way you want to instead of on a commute, not to mention all the carbon emissions you're putting into the environment on your daily commute. Moving further away from your job could end up costing you thousands, especially if you end up driving 30, 40, 60, or more miles to work each day. Sure, the job that is further away may pay a bit more, but will you really make extra money by the time you spend all those hours commuting, add more miles to your vehicle, and constantly put gas in your tank?
Of course, if you do have to commute to work and you can't find a way around it, there are a variety of things that you can do to work on saving money on that commute to work. Here are a few great tips that you can try to save on commuting costs so you can have more money in your pocket.
Tip #1 - Work On Improving Gas Mileage
One great way that you can save some money on your commute is to work on improving your gas mileage when you are commuting to and from work. Start out by going with a car that is fuel efficient as well, but there are other things that you can do to save on some gas mileage. Work on keeping your car well maintained because you can save gas mileage when you care is in great shape. Reduce the items you carry in the car because less weight means lower gas mileage. Avoid that stop and go traffic when you can so you don't waste gas just sitting in traffic.
Tip #2 - Look for Some Discounts
Start looking for some discounts from your employer if you have a long commute. You'll find that many states and the federal government does offer some tax breaks to those that commute quite a ways. They allow you to spend a certain amount of money each month before taxes on the expensive of commuting.
Tip #3 - Try Carpooling
If there are others that you know that work at the same place you do, or in the general area, consider carpooling to work. This helps you to split the costs of commuting with several people, which really can be helpful to you if you have a long way to go to work. Just make sure you choose people who know so you have a safe commute to work.
If you're wondering how much your commute might be costing you, visit costofcommuting.com to see an estimate.
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