Pay Less on Transportation Costs
1.
1. Save on Gas: The exhilarating drop in gas prices was welcome relief after last summer's run-up. But even at current prices, you can save big by altering your driving behavior.
Keep your cool. Easing up on aggressive driving can cut your fuel consumption by 35%. Speeding is the biggest culprit, but drag-race-inspired peal-outs and jerky lane changes also shave miles per gallon. SAVINGS: $400
Get rid of the junk in your trunk. An extra 100 pounds in your vehicle costs you. SAVINGS: $30
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Maintain your vehicle by keeping your engine properly tuned and tires inflated, replacing air filters regularly and using the right grade of motor oil. SAVINGS: $348
Annual Savings: $778
(based on studies using the best-selling Toyota Camry V6)
2. Buy a Fuel-Efficient Car: If you're in the market for a new car this year, you're in the driver's seat when it comes to haggling over price. But you can save even more by choosing a fuel-sipping model -- and it doesn't have to be a hybrid.
Set your sights on 30 miles per gallon. The Toyota Corolla or Honda Fit will deliver that, compared with 20 mpg for the Ford Taurus V6 or Chevrolet Impala V6. SAVINGS: $550
Downsizing from a gas guzzler also does the trick. Not all trade-downs are equal, though. For example, beware of swapping a relatively new large crossover for a smaller one with better gas mileage. The money you lose by trading in a newer vehicle (cars typically lose 40% to 50% of their value in the first three years of ownership) may be more than the money you save on gas. One example of a smart new-car downsize: Swap a 2007 Chevrolet Tahoe AWD for a 2009 Volkswagen Jetta SportWagen. You'll save on both gas and monthly payments without losing all your cargo space. SAVINGS: $1,031
Annual Savings: $1,581
(if both changes are made by a two-car family)
3. Rent Cars Cheaply: Rent off-site instead of at the airport or hotel to cut a concession fee. Savings: $77Pay for your own gas. Prepaid rates are often close to pump prices, but unless you return the car on empty, you're paying for fuel you didn't use. SAVINGS: $40
Turn down the collision-damage waiver. Your own auto policy generally covers rental-car damage. SAVINGS: $81
Use a discount site, such as Hotwire.com. SAVINGS: $70
Annual Savings: $268
(based on one one-week rental at $50 per day)
4. Cut Your Commute: The average commute is 30 miles round-trip per day. If you reduce your driving time by one day per week by telecommuting or carpooling, you'll drive 3,120 fewer miles per year. Reducing the miles you drive in a year can also cut your car-insurance premium.
Annual Savings: $200
(not counting the big reduction in stress)
TOTAL ANNUAL TRANSPORTATION SAVINGS: $2,827
Slideshow: Top Savings Tips for 2009
Pay Less for Health and Insurance Costs
PLUS: How These Super Savers Do It
To continue reading this article
please register for free
This is different from signing in to your print subscription
Why am I seeing this? Find out more here
-
Stock Market Today: Nasdaq Soars Ahead of Tesla Earnings
The EV stock rose nearly 2% ahead of its highly anticipated Q1 earnings report, due after tonight's close.
By Karee Venema Published
-
GM Stock Accelerates After Earnings Beat
General Motors beat expectations for the first quarter and raised its outlook for the year. Here's what you need to know.
By Joey Solitro Published
-
403(b) Contribution Limits for 2024
retirement plans Teachers and nonprofit workers can contribute more to a 403(b) retirement plan in 2024 than they could in 2023.
By Jackie Stewart Published
-
Roth IRA Contribution Limits for 2024
Roth IRAs Roth IRA contribution limits have gone up for 2024. Here's what you need to know.
By Jackie Stewart Published
-
Four Tips for Renting Out Your Home on Airbnb
real estate Here's what you should know before listing your home on Airbnb.
By Miriam Cross Published
-
Five Ways to a Cheap Last-Minute Vacation
Travel It is possible to pull off a cheap last-minute vacation. Here are some tips to make it happen.
By Vaishali Varu Last updated
-
How Much Life Insurance Do You Need?
insurance Instead of relying on rules of thumb, you’re better off taking a systematic approach to figuring your life-insurance needs.
By Kimberly Lankford Published
-
When Is Amazon Prime Day?
Amazon Prime In 2023 Amazon had two Prime Day events — one in July and another, called Big Deal Days, in October. We expect 2024 to follow the same schedule.
By Bob Niedt Last updated
-
How to Shop for Life Insurance in 3 Easy Steps
insurance Shopping for life insurance? You may be able to estimate how much you need online, but that's just the start of your search.
By Kaitlin Pitsker Published
-
5 Ways to Shop for a Low Mortgage Rate
Becoming a Homeowner Rates are high this year, but you can still find an affordable loan.
By Daniel Bortz Published