With a rise in petrol prices, bus and metro fares you need to be on top of your game to reduce the impact on your finances.
Getting around from one place to another is more expensive today than it was a few years ago. Many of us underestimate travel expenses and do not account for the little amounts that go everyday. Those little amounts add up to a significant amount at the end of the year and could even be among your major expenses of the year. Thankfully, there are ways to maximize the value for your spend and save money in the process or you would have no choice but to get around on your own feet which is not quite practical (However, it could be a reason that you were looking for, to shed off some weight). Here are 10 ways that you can implement to make travel cheaper - 1. Switch off your AC. This is not the best thing to do during Summers but with a change in weather and when it is much cooler outside, you can switch off your AC. Open the windows and enjoy the fresh air but close the windows when driving on a highway. An open window, on a highway increases resistance and costs you fuel in the long run. 2. Go easy on the brakes and switch off the engine from time to time. Braking too hard and too much wastes petrol. It also wears out your brake pads. Always maintain a safe distance so that you reduce the firmness in your braking. Every time you turn off the engine, you save money by saving fuel and also make the air healthier by cutting down on hazardous pollutants. 3. Drive steady and avoid quick acceleration. Many of you may love speeding, but accelerating quickly consumes more fuel and drains your petrol tank faster. You can slow down, drive steady and accelerate gradually for maximum fuel efficiency. Speeding quickly may put you over the speed limit without you realizing it and you may attract speeding fines. 4. Check your tyre pressure and get your car serviced and maintained regularly. Underinflated tyres have an uneven contact with the road which wears your tyres out more quickly. This would require an early tyre replacement; and driving with an under-inflated tyre consumes more fuel. Check for the correct tyre pressure more than once a month to save money on fuel and avoid a safety risk. Besides that, a car that is serviced and maintained regularly will help you save a lot more in the longer run and will have a good resale value. 5. Avoid toll gate roads. Plan your routes wisely and avoid toll gate roads wherever possible. Usually a destination can be reached without using a toll gate road but take into account the traffic on the secondary route and the extra distance that would be required to cover. Toll gate charges can add up to a huge amount over a year. Use Google Maps to your full advantage.
6. Fill your petrol tank half to three-quarters.
Filling up your tank halfway reduces your car's weight and increases mileage slightly. You can also consider filling petrol early in the morning or later in the day as petrol is denser when the weather is cooler. As temperatures rise, the density of the petrol lowers and you get less of it when you pump.
7. Use Beam to pay for your fuel and earn rewards.
Make use of Beam to pay for your fuel at gas stations and you get to earn rewards every time you spend for fuel. You can redeem your rewards and fill your tank for free. Learn more on how Beam works, here.
8. Carpool.
Sharing a ride to work can significantly reduce your transportation costs, consider carpooling with friends, relatives, colleagues or make use of carpooling services offered by people in the area. Many people offer pick-up and drop-off services and this is also a source of income for them. So you can either make use of such a service or provide the service yourself and earn something extra on the side. You will end up reducing the carbon footprint with lesser vehicles on the road.
9. Use a cheaper taxi service.
Uber and Careem are some of the options that you can use in place of the regular RTA taxis. Comparing prices across the three services, RTA Taxi is the cheapest with Uber being the most expensive. Careem is the most convenient of the three. You may not get an RTA Taxi at some places without booking for it in advance and incurring an additional booking charge while you can book a Careem taxi from anywhere using your app with no additional charges for booking.
To download Careem, click here. You will receive AED 20 credit on Sign-Up through the link.
10. Switch to public transport.
Public Transport is a lot more developed and efficient today. Apart from the metro operating from early hours of the day till late night, there are lots of buses operating on different routes and the frequency of these buses have also increased.
You won't have to look after paying off your car loans, petrol fees, toll gate charges, car maintenance and service charges, parking fees and these amount to a large amount over a year. Not to forget the time that you would save from being stuck in traffic to looking for a parking spot. You would also be contributing to a greener environment.
In Dubai, you can register your Nol card on nolplus.ae and earn 1 point for every 1 Dirham you spend on your Nol card. You can use your Nol card to pay for RTA bus, metro, tram, water-taxi and the regular taxi fares as well. For all the points that you earn, you can redeem them once you collect 500 points for a Nol card top-up.
Besides, being a Nolplus member, you can avail discounts at various stores across the UAE.
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The Ultimate Guide To Getting Your Finances Back On Track is a book that aims to help the user in being smarter about their finances. This guide contains seven sections - Financial Goals, Expenses, Savings, Income, Loans & Debts, Budgeting, and Investments. Each of these sections explains everything you need to know about Personal Finance in simple terms. By the end of this book, you will have learned the fundamental principles that will help you in maximizing your income, decreasing your expenses and increasing your savings that will overall kickstart your process of truly building wealth.
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