Money Talks, So Should You

Q&A: How can I cut my commute costs?

Mitch Marsden
by Mitch Marsden , NAPFA

There are several options to help you cut down on the cost of your commute.

If feasible, you may consider occasionally walking or riding a bike to work. Not only will you save money, but you will establish a pattern of healthier living. Investing in commuting vehicles with better gas mileage ratings, whether that is a smaller car or some sort of motorized scooter, may also be viable options.

If public transportation is available already, strongly consider tapping into its network. Many cities have great bus systems or metro/rail lines. In many places in the U.S., the trend toward green living is leading to the development and emphasis of public transportation.

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You can also work with your co-workers to carpool, even if it is just a day or two each week.

Consider adjusting your hours to enter and exit work at low traffic times. The stop-and-go rhythm or just idling in heavy traffic can waste a lot of gas, especially if you are experiencing it on your daily commute.

You could also skip the commute altogether periodically or regularly and telecommute. With technology today and a new generation pervading the workforce, more and more businesses are finding that this is a viable method that can enhance employee lifestyle and a flexible work culture.

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Mitch Marsden is a member of the National Association of Personal Financial Advisors (NAPFA), a fee-only professional association and a Dimespring knowledge partner.