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How to save money on travelling to work
With the continuously rising gas prices, travelling to work daily has become a financial burden, especially when a personal vehicle is being used to commute to work. When considering the amount of money spent on filling up the tank, for parking, for repairing wear and tear as well as for other relevant expenses in using a private car, many have opted not to use personal vehicles and have resorted to more cost effective methods. Although such methods may be somewhat hazardous and inconvenient, the amount of money saved on travelling to work could be more satisfying at the end of the month.
Travel by public transport
One of the most cost saving methods in relation to commuting to work is to choose public transport. Using buses, trains, the metro…etc is possible in almost any city except for the most remote parts of a country. Such transportation methods may save at least 70% – 80% of what is spent on private transportation, if not more. At the same time, buying yearly or monthly passes can save considerably more money than buying tickets each day for each and every commute.
Carpooling and vanpooling
These transportation methods have become popular in recent times also because of the rising cost of individual transportation. In carpooling, several people can share the gas expenses and commute by using a car belonging to one person. Usually, such groups are colleagues from the same workplace and are also residing in the same route. Vanpooling on the other hand is a method where several commuters get together and rent a van, which will pick everyone from different points and drop in their workplace each day. In this method, the commuters need not worry about the maintenance, as it will be borne by the rental company. However, it may be somewhat expensive than a carpool.
Cycle to work
If not residing very close to the workplace, in which case one can walk to work, cycling is a great choice, which can, not only save money but also give a great workout. Although the initial cost of purchasing a decent bicycle may be somewhat high, the long-term saving that it might bring in relation to transportation cost saving and health cost saving could be extensive.
Request for a transportation allowance
If a person is residing somewhat distant to the workplace, it is reasonable for the employers to provide the employee with some sort of relief in terms of easing the travelling cost.
Select a smaller car and drive minimally
If there is no possibility of travelling by public transportation, one may have to select energy efficient ways of travelling. Thus, selecting a smaller car and cars using alternate power sources could be a probable choice. However, when considering the costs of such alternatives, many would think twice before making such a decision. At the same time, avoiding unnecessary travelling and detouring should also save some money when it comes to travelling to work. Thus, a person needs to plan out the most efficient route of travel and travel the minimum distance that is necessary to fulfill all the obligations without having to travel more than once in the same route.
Contribute to a transportation spending account
If the employer offers the benefit of transportation spending account, one should contribute as it can reimburse the work related travel costs and parking costs while providing tax relief at the end of the month. However, there are certain criteria which needs to be met in order to receive these benefits and before committing to such a programme, one needs to understand these criteria clearly.