Do you have a long daily commute that is putting a lot of miles on your car? If you’re looking to cut down on transportation costs, one option to consider is carpooling. Because you won’t be driving your own car nearly as often, you won’t put as much wear and tear on your car, which can help you save money. Carpooling also saves you money on gas, which is a primary reason that people join a carpool. If you’re new to carpooling or want to learn more about the other ways it can help you save money, the following tips can be useful:
You can join an existing carpool, which is probably the easier option, if there’s space available and it makes sense for your schedule. Ask your neighbors if they are part of a carpool you can join, or ask your coworkers, if any live in your area. If there aren’t any existing carpools with room available, consider starting one. If you live in a rural neighborhood and everyone generally works in the same area, it could be easy to get a few others interested. You could also look online and make a post on a community-specific message board.
Get more work done
If you have a far commute, you likely spend a good chunk of your day driving, but you may not even realize just how much time is spent driving to and work. But think about it—if you live an hour away from your job, that’s two hours of driving every single day, and 10 hours of driving every week if you work five days a week. That’s a lot of driving—longer than your typical workday! If you’re carpooling, you share the driving responsibilities with others, which frees up a lot of your time that you’d normally spend driving. You could use this extra time to be more productive; get more work done, make extra money, and save time—after all, time is money.
Opt for a lease
Leasing a car can sometimes save you money and offer much lower monthly payments, in addition to lower (or no) down payment requirements. If you have a long daily commute, though, leasing a car might not be a viable option because of the mileage restrictions that are often set in place with car leases. But if you join a carpool, you might be able to lease your car instead, which can allow you to save money and cut down on your monthly expenses.
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Nothing above is meant to provide financial, tax, or legal advice. You should meet with appropriate professionals for such services.