We all need access to transportation, whether through owning our own car or being able to take a bus, train, or taxi as needed. No longer are we confined to our communities; modern transportation allows us to go most anywhere.

Personal transportation costs, however, can put a crunch on any budget – siphoning funds from other areas of your life and draining your savings. High gas prices, insurance, car payments, maintenance, and more can crimp your style, doing a number on your finances like nothing else.

There is no need for you to drive yourself to the poor house because you cannot afford to keep up with spiraling transportation costs. The following tips can help you not only contain your costs, but leave a little extra in your wallet each week:

Save on Gas – If your car “requires” that you fuel up with premium gas, consider using regular gas instead. You’ll lose some power, but you’ll save at least twenty cents per gallon. Don’t worry about your car not having a “taste” for regular fuel as your engine will automatically compensate for the reduction in octane. Potential Annual Savings: $200.

Save on Insurance – Older cars often still have collision coverage on them, even though the replacement value is negligible, therefore considering dropping this coverage. In addition, review your policy for additional savings and consider having one insurer cover both your homeowners and car insurance policies. Potential Annual Savings: $250.

Save on Car Payments – Lots of consumers think that the company financing their car is the one that they’ll have to stay with until their wheels are paid off. Like housing, there are hundreds of companies clamoring for your business who might be interested in taking over your loan. The lower your credit score, the lower your interest rates should be. Potential Net Savings: $500.

Save on Maintenance and Repairs – Your dealer may say that he knows your vehicle best, but plenty of independent mechanics are skilled in servicing a variety of modern vehicles. If your car is under warranty, then go to your dealer. Once it is off warranty, line up a trusted local mechanic who knows your brand of vehicle and can provide a competitive service rate. Potential Savings: The sky’s the limit!

Save on Warranty Costs – If you plan on keeping your car for many years, then consider purchasing an extended warranty. However, select vehicles – Kia and Hyundai, for example – have comprehensive warranties for the first three years of ownership and have a 100,000 mile powertrain warranty included. If you want a warranty, tailor that plan to cover what is NOT covered, allowing the manufacturer to pay for your other costs. Potential Savings: $300-$1500.

Save on a New Car – Sooner or later you’ll decide that your current car is too old, doesn’t meet your current needs, or you’ve tired of driving it. Right now can be an excellent time to buy a car, not just because it is the end of the model year or that the calendar year is fast coming to an end, rather car sales are way down and manufacturers are in the bargaining mood. Arrange financing on your own and walk into your dealership to take advantage of cash back savings and whatever other deals you can negotiate. Potential Savings: $1000-$15,000.

Save on Public Transport – If you don’t own a car or you take public transportation part of the time, you can save money by hopping on a bus, hailing a taxi, or catching the train. However, mass transit costs can be exorbitant, even when some of the costs are defrayed through taxes and grants. Fortunately, many of the publicly run mass transit authorities reward frequent users with weekly or monthly passes which can shave dollars off of your ride. Potential Savings: 10-50%.

For additional savings tips and ideas, please visit SayLowerBills.com to find great money saving ideas for your home, vacation, health, entertainment, and other expenses.

Tags: budget, car insurance, car loan, car payments, gas, mass transit, new cars, public transport

Consumers looking to reduce household expenses can find savings by reviewing their monthly bills and seeing which ones can be bundled together. In times past phone, cable, and cellular bills were billed separately, but these days companies are bundling various plans together and passing these savings back to their customers.

It isn’t just utility bills which can be bundled as insurance companies also offer similar savings when you do business with them. Let’s explore how you can save money, perhaps as much as $100 (or more) each month by bundling your expenses together.

Major Media — If you have a cell phone, land line, cable connection and internet, some companies offer all four services to you at one low price. In my area, Time Warner Cable offers such a plan (minus the cell phone) and charges an initial rate of $29.95 per month for each service for twelve months. After that, the offer expires, but we’re saving about $100 each month by bundling digital phone, cable, and internet connection together. Yes, our plan includes long distance including to Canada, giving us one flat bill every month. AT&T and Verizon are two providers which will allow you to bundle all four services together.

Insurance — If you have car insurance and homeowners insurance, having one insurance company provide this service to you will generally result in savings of 5-15% off of your premium. However, make sure that the coverage you have is adequate when allowing one insurer to cover you and compare plans to see if insuring elsewhere, but through separate companies offers the best savings.

Heating, Cooling and Electricity — In some parts of the country, consumers have choice when it comes to home energy providers. On company provides gas for heating and cooling while another one may provide electricity. If one company can adequately provide both services and offer to you a discount on their plan, why not consider giving them your business?

Food Shopping — Who hasn’t been shocked this year when they discovered just how fast food prices were rising? Like gasoline, food prices are shooting up thanks to the cost of transporting goods which are usually delivered by trucks. Guess what? Truckers are getting slammed by diesel fuel costs and need to recoup their costs too. Now is the time to consider consolidating your shopping to one store such as a warehouse club that carries food, household items, clothing, even discounts on fuel and tires. You’ll have to pay a membership fee to join, but you’ll get that money back within the first two times you shop.

Lowering your bills can be done by bundling accounts, a move that can bring about quick savings without instituting additional cutbacks. Take the money you save by bundling costs and put it into savings or use these funds to balance your budget and tackle whatever outstanding debt that you may have.

Tags: bundle costs, cable, car insurance, cell phone, cooling, electricity, food, gas, groceries, heating, homeowner's insurance, phone bill, satellite tv, warehouse clubs

This is the second installment in a three-part series focusing on
important ways you can save money on food, fuel, and fun.

Oil will soon hit $150 per barrel, sending additional shock waves through an already battered economy. With a gallon of diesel fuel at $5 in certain areas now, the financial livelihood of some is being threatened.

We cannot count on fuel prices retreating any time soon and the chances of prices staying permanently above $4 per gallon are quite high. That being said, high fuel prices isn’t a good reason for people to panic (is there really ever one?) as making rash decisions will cost you more in the long haul.

Most of the tips I have read about saving gas are very practical such as driving less, combining trips/errands, and keeping your speed down. Others are silly or even dangerous and include hypermiling (driving the car in neutral with the engine off while coasting) and trying to get your car to run on water.

Instead of following the folly du jour, might I suggest you consider:

Working From Home — If you have a long commute and are getting whacked by high fuel prices, is there any way that you can do your work from home? If not every day, how about once weekly? Or, can you work four long days instead of five shorter work days?

Carpool — Meeting up with people to ride to work is such a drag. It can also save you gas money, wear and tear on your vehicle, and extend the life of your car. In some jurisdictions you could even get a tax break or your company could if they supply the van and everyone shares the cost of gas.

Mass Transit — People who live in major metropolitan areas already have access to mass transportation, while smaller cities, exurbs, and rural areas do not. You might find that flying, taking the train, or a bus to your destination is much more cost effective than driving. If taking mass transit on a daily basis isn’t doable, consider once or twice weekly.

Trade In Your Wheels — If you are still making payments on your SUV, truck, or other large vehicle and desperately want to get something more efficient, I have news for you: you stand to lose thousands of dollars if you switch now. How so? The value of all gas hogging vehicles has dropped significantly, meaning you’ll probably still owe money on your truck when it has been traded in. Better to find ways to shave the amount of miles you drive than to get rid of a vehicles that isn’t worth what you thought it was worth. On the other hand, if you are ready to buy new now is the time to shop: deep discounts on even fuel efficient vehicles are now being offered.

Avoid the aftermarket parts schemes which promise you ten, twenty, even thirty percent or more in fuel savings, a “special” additive, or anything else that sounds risky, even weird. Driving slower, using a lower grade of gas where feasible, and combining errands are some great ways to save gas. High fuel prices are a fact of life, but they don’t have to rule your life either.

Next: Save Money on Fun

Resources

Navigate Our Planning Centers

Lower Family Living Costs

Lower Transportation Costs

Tags: autos, cars, diesel, gas, gasoline