ACCC provides five tips on how to save money on transportation costs
Boston, MA – August 20, 2018
No matter your occupation or income, it’s not uncommon to travel multiple times a day to and from various locations. Whether it’s to get to work or go on vacation, travel expenses can add up quickly. By planning ahead and making a budget, consumers can save money while still reaching their destination. To help consumers budget their transportation costs, national nonprofit American Consumer Credit Counseling (ACCC) provides five tips for planning ahead and saving money.
“Whether it’s purchasing a flight or paying for gas, parking, and car maintenance, transportation costs add up very quickly – especially if you don’t plan ahead,” said Steve Trumble, President, and CEO of American Consumer Credit Counseling. “It is important to do research and find the most efficient ways to get to your destination without breaking the bank. The last thing you want is to spend a significant percentage of your income on travel costs.”
According to ValuePenguin, the second largest spending category for the typical U.S. family is transportation. The study also found that for the average household, transportation costs average $9,004 annually, almost the same amount as renting or home ownership. About 90 percent of U.S. households report spending money on gasoline, which generally costs $3,000 per year. This does not include the amount of money being spent to pay for the vehicle or insurance, which is about $907 per year. According to the study, 20 percent of households pay about $225 per month on public transportation.
American Consumer Credit Counseling provides five tips on how to save money on transportation costs.
- Use apps to cut down on gas money – Download apps to track car mileage between fill ups. By tracking this mileage, it will be easier to plan when your car will need more gas. Websites like gasbuddy.com can find the closest yet cheapest gas station to your location or intended route of travel. This will help avoid driving miles out of the way to find the cheapest gas.
- Local transportation – With the expensive costs of gas, parking, and flying, public transportation is a great way to save money and still get to your destination. It is important to research the city’s public transportation in order to find the best times and locations that will work for you to get to your destination. Many cities also provide discounts for taking public transportation. This can reduce the amount of parking fees you would pay if you drove, saving money in the long run.
- Invest in a bicycle – If living in a city, purchasing a bicycle can save you time, money, and help you stay in shape. Instead of driving a short distance or paying for a public transportation pass, try biking or even walking to your end destination. Whether it be to work, a friend’s house, or the grocery store, you will save money over time by switching to walking and/or biking.
- Plan out parking plans before driving – In order to find the best and cheapest places to park, research or download apps, such as SpotHero. These apps can help you reserve spots in advance, while also earning you a discount on parking. Not only will this ensure that you get a spot, it will save you gas from not needing to drive searching for parking.
About American Consumer Credit Counseling
American Consumer Credit Counseling (ACCC) is a nonprofit credit counseling 501(c)(3) organization dedicated to empowering consumers to achieve financial management through credit counseling, debt management, bankruptcy counseling, housing counseling, student loan counseling and financial education concerning debt solutions. To help consumers reach their goal of debt relief, ACCC provides a range of free consumer personal finance resources on a variety of topics including budgeting, credit and debt management, student loan assistance, youth and money, home ownership, identity theft, senior living, and retirement. Consumers can use ACCC’s worksheets, videos, calculators and blog articles to make the best possible decisions regarding their financial future. ACCC holds an A+ rating with the Better Business Bureau and is a member of the National Foundation for Credit Counseling® (NFCC®). For more information or to access free financial education resources, log on to ConsumerCredit.com or visit https://www.consumercredit.com/debt-resources-tools/