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The average person spends upwards of £5,000 a year on motoring costs, making driving one of the most expensive habits around. But it turns out that much of this expense is unnecessary. And there are a bunch of people out there who could have much better financial lives if they ditched their cars altogether and found new ways to get around.
In this post, we take a look at some of the methods you can use to save money on motoring costs. If you take this advice seriously, you could achieve financial freedom faster than you ever thought possible.
Move Closer To Work
If you’re like most people, the main reason you need to own a car is so that you can drive to work. But what if your daily commute was just walking around the block to your office. Wouldn’t that be good?
It sounds fanciful. But it’s something that millions of people are doing to improve the quality of their lives. Even if the housing costs are slightly higher, they are more than offset by the fact that they don’t have to run an expensive vehicle. Any costs associated with their cars disappear, freeing up their finances to pay off the rent.
Get A Motorbike
Okay, so you can’t move closer to work – not a problem. Why not just get a motorbike?
Motorbikes provide you with the same low-effort transport as cars, but they are a fraction of the cost to buy and run. Motorbike jackets and helmets are not as costly as you might think, so the barriers to entry are low.
Work From Home
Here’s an even more radical idea. Instead of going to the office every day, find a job that’ll pay you for working from home. Today, thanks to the pandemic, many roles are now home-based. But most employers plan to return their workers to the office sooner rather than later. So there’s no guarantee the current status quo will persist.
Look for jobs that pay the same as yours (or more) that also allow you to work from home. This way, you can eliminate another big chunk of your motoring expenses.
Learn To Ride A Bike
Riding a bicycle to work seems like one of the most stressful things in the world. Navigating angry traffic isn’t many people’s idea of fun.
However, once you try it, you soon discover that it is a very different experience. Yes – sometimes cars will cut you up. But, for the most part, it’s a relaxing and uplifting experience – something well worth pursuing. It sets you up for the rest of the day and puts you in a good mood.
Cycling to work offers all kinds of advantages. First, you can usually deduct the cost of bicycles from your tax bill. Second, employers often offer incentives to people willing to cycle to work. And finally, it improves your overall health, allowing you to perform better in your job.
So, which of these low-cost driving alternatives will you pick to save you bags of cash?