While a big part of being smart with your money is simply avoiding buying things, there are certain expenses that are pretty much non-negotiable. Travel, for instance, is one thing that you can’t put off and then pay for later once you’ve spent a while saving – everyone needs to get from A to B. However, there are various things you can do to save money on the cost of owning a car…
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Spending Less on Fuel
Petrol prices may make it seem like you don’t have much wiggling room to cut the cost of fuel consumption, but smart little habits can have a major impact on this particular expense. Saving just 5p per litre of petrol or diesel can save the average driver £100 a year! Many supermarkets will give you a discount on their petrol pumps for spending a certain amount in store, which are typically around 5 or 10p a litre. Aside from this, there are various driving habits you should try to adopt, that will improve your fuel economy significantly. Some drivers can add a whopping 200 miles to a tank by being more conservative. Keep in the right gear, avoid driving too fast or keeping unnecessary weight in the car, avoid using the air con and keep your tyres inflated to the right pressure. You’ll be amazed by the difference these habits can make!
Spending Less on Insurance
Car insurance is another non-negotiable travel expense that you’ll have to cover. Again, a seemingly small saving in this area can have a pretty significant impact on the amount you’re ultimately paying. Understanding the variables that affect your premium, and taking steps to manipulate these, can be a massive help when you’re feeling the pinch of auto insurance. However, the most important thing you can do is take your time shopping around through price comparison sites. This will assure that you get the best deal possible, as well as all the coverage that you need. While comparison sites can be a great place to nab the best deal on insurance, they’re not the be-all and end-all of saving in this area. A lot of insurers don’t let their products appear on price comparison sites, so be sure to do your research, and get quotes from them separately.
Car Pool for Longer Journeys
If you commute by car, as so many of us do, there’s a fair chance that there are other people at your work who would be open to saving money by sharing the journey with a colleague. If you work from home or you’re not the main breadwinner in your home, you can even set up a similar arrangement with parents who have the same school run as you. Yes, there will be times where you have to bear the cost of travel and do your bit, and you may have to put up with a colleague’s acquired music tastes every morning! Still, getting into some kind of carpool arrangement can save you a massive amount on travel.