Summer is here! Many of us want to take advantage of the warm temperatures to take that road trip or drive to the beach. With the joy of summer comes the added cost of transportation. As part of National Dump the Pump Day, we want to share transportation savings tips to help you with your travel plans. These tips may help you avoid any additional personal credit card debt in the future.
With increased summer travel, we usually begin to notice what effect the cost of driving has on the wallets. According to a 2015 AAA study, the average cost for a vehicle driven 15,000 miles a year adds up to $8,698 per year. This is about $725 per month and 58 cents per day. Costs can vary based on the type of vehicle. Small sedans average $6,729 per year whereas SUVs cost an average of $10,624 per year. Let’s take a look at some savings tips for summer travel.
Transportation Savings Tips for Summer Travel
- Carpool – Carpooling is an excellent alternative. This is especially true if public transportation is not an option. By carpooling, you can:
- Save money on gas
- Reduce congestion on roads and highways
- Have the ability to use carpool lanes, which could reduce overall commute time
- Public transportation – Utilizing public transportation is a great way to avoid gas costs. Taking the bus or train can help both your wallet and the environment.
- Don’t speed – The majority of cars are most efficient and use the least amount of gas when traveling between 50 and 55 miles per hour. Going over this limit will decrease efficiency and increase the amount of fuel used.
- Bike – Bike sharing has become extremely popular in most major cities, such as Boston (Hubway), New York (Citibike), Philadelphia (Indego) and Chicago (Divvy Bikes). Bike sharing can also increase options for getting around the city without having to deal with the expense of gas and parking or wasting your time sitting in traffic
- Route selection – Before hitting the road plan the route. Try to choose routes with fewer stop signs and traffic lights to avoid having to stop and accelerate too much. If you plan to make a few stops on your trip, make sure they are close in proximity.
- Utilize gas saving websites – Sites such as gasbuddy.com compares prices of gas stations in your location and can help consumers find the lowest price.
These tactics are easy to implement and only require a little extra planning. By following these tips you are bound to reduce credit card debt and be financially secure to face the rest of the year!