For many people, maintaining a car is one of their biggest expenses. Between gas, maintenance, car payments and insurance, owning a car can be a costly endeavor. There are ways that you can save money on your auto expenses and add more money to your monthly budget. By driving frugally, you will enjoy more money every month while maintaining your car.
Shop Around for Better Auto Insurance Rates
The world of car insurance is competitive. Every day we’re bombarded with commercials promising to save us money on our car insurance. These companies are desperate for your business and will offer incentives to get you to switch. Take advantage of your position by getting auto car insurance quotes from competitors. You will be surprised at how much you can save by simply switching to a new insurer.
Save Money on Gas
Consolidate trips and save money on gas. Instead of running different errands every day, combine them into one trip and watch the gasoline savings add up. Designate one day a week a car-free day, if possible. By simply not driving one day a week, you can save money every month on gas. Carpool with co-workers or family members and save a trip to the gas station. Get the most mileage from your gas by using a fuel injector cleaner periodically. Clogged fuel injectors decrease the effectiveness of your gasoline consumption, so make sure you clean them regularly.
Find out if your employer will allow you to work from home a few days a week. Many people are surprised how much their daily commute cuts into their budget. Between gas expenses, tolls and general wear and tear, your commute to work can cost you hundreds of dollars a month. By working from home one day or more a week, you can funnel the savings into other parts of your budget.
Avoid Late Fees
Find out if your finance company will offer a discount if you make your car payment before the due date. Avoid late fees by setting up an automatic payment with your bank or credit union. Late fees can eat up your budget, so make sure that you make your car payments well before they are due.
If you are planning to purchase a car, find one that is inexpensive and doesn’t require huge payments and long loan terms.
By driving frugally, you can save hundreds of dollars a month on auto expenses. So if you find yourself driving around more than necessary or breaking the bank to afford that auto insurance, try a few of the aforementioned tips to save yourself some cash.