The harvest is now complete and we have enjoyed our Thanksgiving bounty. Now on with the money saving posts ;-}
- Keep tires properly inflated. It keeps you safe and costs less on gas. For every two PSI that all of your tires are below the recommended level, you lose 1% on your gas mileage. Most car tires are five to ten PSI below the normal level, so that means by just airing up your tires, you can improve your gas mileage by up to 5%.
- Keep your car engine tuned and its tires inflated to their proper pressure. Doing both can save you up to $100 a year in gas.
- Clean your car’s air filter: A clean air filter can improve your gas mileage by up to 7%, saving you more than $100 for every 10,000 miles you drive in an average vehicle. Plus, cleaning your air filter is easy to do in just a few minutes – just follow the instructions in your automobile’s manual and you’re good to go.
- Don’t speed: Not only is it inefficient in terms of gasoline usage, it also can get you pulled over and cost you a bundle, as I discovered a while back. It’s highly cost-efficient to just drive the speed limit, keep that gas in the tank, and keep the cops off your tail.
- When driving, avoid fast start-ups and stops. Over time, you will save hundreds of dollars on lower gas and maintenance costs.
- Get tires from Costco, Sam's or other wholesale clubs. Simply put, they cost a lot less than buying them at the dealer or even a chain tire store.
- Shop around for gas. Comparing prices at different stations and using the lowest-octane (recommended by the car owner's manual) can save you hundreds of dollars a year.
- Drive a different route to work: This is an especially powerful tip if you find yourself “automatically” stopping for something on the way into work or the way home. Get rid of that constant drain by selecting a different route that doesn’t go by the temptation, even if the new route is a bit longer. You’ll still be time ahead (because you’re not stopping) and you’ll definitely be money ahead.
- Drive your car longer. The buy new versus used debate often overlooks the most important factor–how long you own your car. Drive it as long as you safely can for substantial savings.
- Go for reliability and fuel efficiency when buying a car: A reliable and fuel efficient car will save you thousands over the long haul. Let’s say you drive a vehicle for 80,000 miles. If you choose a 25 miles per gallon car over a 15 miles per gallon car, you save 2,133 gallons of gas. At $3 a gallon, that’s $6,400 in savings right there. Reliability can pay the same dividends. Do the research – it will pay off for you. Also purchasing a vehicle that is manufactured and assembled in the US is cheaper to repair and maintain than a vehicle that is not.
- When buying a car, go for late model used: These are typically cars coming straight off of leases, meaning they were cared for by reliable owners. My truck was purchased with this criteria and has lasted me several years already with only one significant issue – and I saved a ton of money on the purchase price over buying new. Only now is it beginning to show significant signs of aging – and with the money I saved on that purchase, I was able to get out of debt that much quicker.
- When buying a car, avoid gadgets: Gadgets and electronics add complexity and weight to the vehicle. The more weight the less gas mileage and the more electronics, the more costly the fixes are.
- Buy your car over the internet: Search the internet for information on the car you want and then send e-mail requests to dealers for the best price. Even if the dealer is located in another state, the cost to have the car delivered may still be worth it. I paid $500 to have a Honda Odyssey shipped 500 miles and still saved $1,000 over the best local price available.
- Carpool: Is there anyone that lives near you who works at the same place (or near the same place) that you do? Why not ride together, alternating drivers each day? You can halve the wear and tear and gas costs for your car – and for your acquaintance as well.
- Take public transportation: If the city’s transit system is available near you, take it to work (or to play) instead of driving your car. It’s far cheaper and you don’t have to worry about parking your vehicle. In larger cities, an annual transit pass will often pay for itself after less than two months of use compared to using an automobile any use after 2 months is like riding for free. That’s money in the bank.
- Take fewer cab rides: Using public transit instead of cabs can save you $5-10 per trip or more. If you're a frequent cab user, the savings could complete ly fund your emergency savings account.
- Check all airlines for cheap fares: Since no website lists all discount carriers, also check out the websites of discount carriers like Southwest and Jet Blue, possibly saving you hundreds of dollars.