Lowering your expenses is a science. Shopping for great deals and eliminating waste takes time, patience, and flexibility. Cutting back on your transportation costs can take some creativity too. Most Americans have resigned themselves to paying whatever it costs to get around, and making up the budgetary difference elsewhere. But despite what you might think, there are a lot of ways to reduce your transportation costs.
Millions of Americans are carpooling, ride splitting, and car sharing their way to lower monthly expenses. By taking advantage of the many car sharing companies, ride splitting, and carpooling the old fashioned way, you too can free up more of your take home pay on a regular basis! Read ahead to see how to get more mileage out of your transportation dollar.
How Ride Splitting and Car Sharing Saves You Money
The steadily rising cost of owning and operating a vehicle is pushing some people out of the driver’s seat for good. These car-free commuters are able to do that thanks to the numerous car sharing apps and opportunities available to modern commuters all over the world. It’s never been easier to ditch your car for good, or offset the operating costs of vehicle ownership by car sharing.
Some of the most impactful car sharing benefits include:
HOV Lane Access
Depending on where you live, car sharing may dramatically reduce the amount of time you spend on the road. Carpool lanes in large cities are restricted to vehicles with more than one occupant. Use that to your advantage, and get to where you need to be faster.
Save on Gas
Nobody enjoys paying for gas. We do it because we have to. But, those that share their own vehicle or hitch a ride with a driver don’t spend nearly as much as those that ride solo. Car sharing usually amounts to a sizable savings at the pump for the ones that are driving.
Offset Maintenance Costs
Repair and maintenance bills are inevitable. But, if you open your passenger door to a ride sharer, you can help offset those costs. In addition to the cost of gas, most ride sharing apps and mileage calculators account for wear and tear, which helps offset the annual maintenance costs for whoever owns the vehicle.
Offsets the Cost of Ownership
For people that don’t need 24/7 access to their own vehicle, car sharing and ride splitting offers them the opportunity to pay-per-use. Instead of watching your car gather dust and depreciate in your driveway, you can sell it and rent one with ease whenever the need arises.
Even More Ways to Save Money
Car sharing isn’t for everyone. Thankfully It’s not the only way to cut down on commuting costs. People need to get around, and a lot of those people don’t have or want a car of their own. Even if you do have a car, there are inventive ways to roll back expenses. Below, you’ll find a few additional ways to save on transportation.
This option is heavily dependent on where you live and where you have to go. Having said that, public transportation is a viable and cost-effective way to save money. Less time spent behind the wheel means more time enjoying the ride, or getting things done while on the go.
Electric bikes are an ideal solution for those that require the freedom and flexibility of their own means of transportation without the astronomical costs of driving. Ride 1 Up is one of the more popular brands in the electric bike space, but there are a lot of options available.
The SmartRide program is an initiative put on by Nationwide Insurance, but most major insurance providers offer a similar product. The program uses an app to track your driving statistics and create a more personalized policy. You’ll earn an instant 10% discount on signup and could get up to 40% off depending on how safe you drive.
Start Saving Today!
Today’s conversation was focused on the cost savings associated with car sharing and ride splitting, but that’s not the only positive. Less cars on the road means less traffic, less pollution, and better air quality for all. It lowers costs on the individual level, and it conserves our non-renewable resources. We call that a win-win.
It’s not hard to start either. Ask around your office, or post on local social boards to find drivers and passengers looking for car share opportunities. Failing that, you can sign up for one of the countless car or ride sharing apps waiting to be downloaded at your app store of choice. Explore your options, find a car share solution that accommodates your lifestyle, and start saving today!