If you’re a student or a recent graduate you’re probably surviving a fairly low income, so any way you can save money on your journey to work makes good sense.  Here are some suggestions worth thinking about.

FIND THE BEST DEALS

The average annual cost of running a car for under-twenty fives is about £2,300 but there’s plenty of ways in which you can help keep those costs to a minimum, such as keeping your tyres inflated and not revving too much. However the biggest chunk of that annual bill is likely to be your insurance so make sure that you use a comparison website to ensure that you are getting absolutely the best deal that you can.  Look into getting a black box, which can help you lower your insurance by demonstrating that you’re a safe driver.  Your next biggest bill will be fuel so don’t just fill up when you need to, as letting your fuel tank get low can cause petrol to run out even faster!  Find the lowest fuel prices in your area.  1p difference on a litre of fuel adds up to a significant amount over the course of a year.

 

PARKING

Don’t take a chance on parking.  Driving around looking for a spot is a great way to waste fuel.  Find free parking, even if it means a bit of a walk, or buy an annual parking permit which will work out much cheaper than buying a ticket every day.

CAR POOL

Good for the environment and a good way to cut costs.  Get stuck into some serious networking and find people who share a similar commute.  It may take a bit of work to get organised, but it could save you 75% of your commuting costs.  Once other people realise what they could be saving they’ll be keen to get on board, literally. Who knows, you might even make some good friends as a result.

CYCLE OR WALK

Ditch the car.  Unthinkable? Well just think how much money you could save.  If you’ve got somewhere to get the car off road you can apply for a Statutory Off-Road Notification (SORN) and then you’ll be reimbursed the remaining months on your tax and you’ll be able to cancel your insurance.  If your commute is urban and it’s likely that it is, you might even save time by switching your car for a bike or using a combination of public transport and walking. I know, you love your car and it’s really convenient and what if it rains but against all that is the opportunity to get regular exercise and save money.  Cycling or walking is also a great stress buster, way better than sitting in a traffic jam burning your money and polluting the environment.

GET A RAILCARD

If you are using public transport, make sure that you are getting the best deal.  If you take the train or underground buy a 16-25 railcard.  This costs just £30 a year but it will save you a third of the cost on all journeys.

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