Print

Finance >> Browse Articles >> Savings

Rate

Five Ways to Cut Your Commuting Costs

Five Ways to Cut Your Commuting Costs

Kim Lankford | Monster.com

January 09, 2009

Ever wonder how much money you can save by cutting your commuting costs? How about enough to pay for two trips to Ireland plus several major home improvements?

As chief of marketing for the Maryland Transit Administration, Buddy Alves set out to see how much money he and his wife could save on their commute from the Baltimore suburbs to their downtown offices. The couple started taking the light rail instead of driving separate cars and investing the cost difference in mutual funds. Not only did the Alveses save on gas and parking costs, but they also needed less car maintenance, saved on their auto insurance and got transit pass discounts from their employers.

After 10 years, the results were astounding: The Alveses had enough money to cover two trips to Ireland, pay for a $3,000 fence, spend $2,000 to repave their driveway and splurge about $4,000 to refurnish their living room.

AAA estimates that when you add in all the costs of commuting, including car depreciation, maintenance, tires, insurance and fuel, the cost rises to 55 cents per mile, so lowering your commuting costs can be a great way to put extra money in your pocket. Try these tips.

Next page: Improve Your Gas Mileage


Rate
Excelle School Finder

Save time in your search for a degree program. Use Excelle's School Finder to locate schools online and in your area.

Get Info

* In the event that we cannot find a program from one of our partner schools that matches your specific area of interest, we may show schools with similar or unrelated programs.

Recent Activity

Photo_user_blank_big
daniraexx received the quiz result of "You should Set a Date", about 1 hour ago.
29413_1272688418942_1281844965_30666187_853635_n_max30
lcipriano joined the group "Creative Expressions", about 3 hours ago.
29413_1272688418942_1281844965_30666187_853635_n_max30
lcipriano joined the group "Empowered at Work", about 3 hours ago.
29413_1272688418942_1281844965_30666187_853635_n_max30
lcipriano joined the group "Women of Emotional Intelligence", about 3 hours ago.
29413_1272688418942_1281844965_30666187_853635_n_max30
lcipriano joined the group "Toastmasters", about 3 hours ago.
Photo_user_blank_big
martinsmm received the quiz result of "Amorous Adventurer", about 7 hours ago.
Photo_user_blank_big
babystarloves420 received the quiz result of "Laidback Lover", about 11 hours ago.
Photo_user_blank_big
randyfrancis received the quiz result of "Your Resume is Perfectly Healthy", about 11 hours ago.
Photo_user_blank_big
coach22 commented on: "Excelle's Top 10 Career Lessons", about 22 hours ago.