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Home > Blog > 10 ways you can cut your commuting costs
Nov 19, 2018
10 ways you can cut your commuting costs

trainSoaring rail and petrol costs have made commuting to work quite an expensive endeavour, putting a significant dent in today’s stagnant pay packets. Inflation will cause rail fares to rise by a whopping 4.1 per cent next year, meaning commuters will have to spend the first hour of work every day simply paying for their commuting costs. With petrol prices eclipsing 140p, commuters are feeling the squeeze at the pumps as well. Fortunately, there are ways to cut your commuter costs.

Here are ten ways to cut the cost of your commute, so you don’t arrive at your work computer already hot under the collar.

1. Season Ticket Loans

An annual railcard is obviously cheaper than opting for monthly, weekly, or daily tickets. A monthly ticket from Dartford to Charing Cross cost £212.40. In comparison, an annual ticket between these two locations only cost £2,212.00, which is a savings of £336.80. If you do not have a couple thousand pounds to pay for an annual ticket, a growing number of employers are offering season ticket loans.

2. Use Railcards

There is a wide selection of regional and national railcards that allow commuters to shave 30 per cent or more off of their ticket fares. Unfortunately, a majority of them are only valid between 9:30 am to 10 am, which is not ideal for daily work commuters. However, with flexible working on the rise, your employer may be willing to alter your hours to allow for discounted train travel.

3. Be a Savvy Traveler

If you travel to work via a heavy commuter route, split ticket options may be worth looking into. Sometimes, it is cheaper to purchase two season tickets for different legs of your daily journey. It is also worth checking to see if traveling from a different station may be cheaper. For example, if you live in London’s zone five, you may benefit financially and physically by cycling or walking to a rail station in zone four.

4. Power Pedal to Work

Although you may need to bring a change of clothes, cycling to work helps you avoid the stress of dealing with train timetables as well as train fares and the rising cost of petrol. If you do not have a bicycle, many employers provide bike loans under a ‘Cycle scheme’ or ‘Ride to Work scheme’, which usually allow you to purchase a bicycle up to £1,000 from partner retailers. The loan is then repaid gross from your monthly salary, so you do not have to pay taxes on the loan. You can also incorporate cycling into your train journey to save on train fares.

5. Ride a Motorbike

Not only will riding a motorbike to work save you money on petrol and insurance, but it will also be cheaper than an annual rail ticket as well. Some models, such as a Honda CBF 125, only cost a little over £2,000 and allow you to travel over 300 kilometers on only £10 of petrol. There are also many places where you can park a motorbike for free, saving you additional money. If your workplace is in central London, you will be exempt from the congestion charge as well.

6. Car Sharing

Websites like Liftshare, Mylifts, and BlaBlaCar are making car sharing easier than ever before. According to a recent Ford survey, 42 per cent of Britons have considered sharing cars to and from work each day. However, only two per cent of UK drivers have participated in formal car sharing schemes during the past year. Whether you share a ride with someone from you workplace or someone who works and lives nearby, car sharing can drastically cut down on your petrol and commuter costs.

7. Join a Car Club

Car clubs allow you to pay as you drive and are a viable alternative if you only need to drive a few times per week. Streetcar.co.uk and citycarclub.co.uk are two of the main national car club companies operating in various UK cities. Annual membership only cost approximately £50, including insurance. Best of all, hiring a car only starts at £5 per hour, and the cost is reduced the more you drive.

8. Rent a Parking Space

If you are paying high meter rates or purchasing expensive season tickets for a large parking garage, consider trying to rent a space in a driveway near your workplace. Websites, such as yourparkingspace.co.uk and parkatmyhouse.co.uk, specialise in pairing commuters with owners of empty driveways and parking spaces.

9. Inquire about Flexible Working

It is no secret that rail companies raise ticket prices during the peak travel times, which are generally from 6 am to 9:30 am and 4:30 pm to 7:00 pm. Your employer may agree to a flexible working arrangement, allowing you to work later hours to avoid peak travel rates.

10. Lodge in Town

It may be a last resort, but renting a spare room at a weekly lodging site during the week can drastically reduce your commuting costs. Not only will save yourself a long daily commute, but you can save over £1,000 a year as well.

1 Comment   |   CATEGORIES:   
  • http://www.myk.ae/special-offers Ijaz Hussain

    i am 100% agreed with you what you said about car sharing
    thanks for sharing

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