Credit Safety: How to Use Your Credit Cards Properly as a Single Mom

As a single mom, balancing your budget and managing your money is a challenge. There is always another thing to spend money on just waiting around the corner. And that’s why it’s not uncommon for stretched parents to lose track of how they use their credit cards. If you’re not careful, your credit cards could become a financial crutch. And before long, that could lead to a real financial disaster for you.

You don’t want to find yourself in a bad financial situation just because you have been using your credit cards in the wrong way. It can lead to all sorts of other problems, and it can be very difficult to bounce back from this kind of thing. Therefore, it’s much more sensible to start thinking right now about how you can use your credits properly and smartly. The tips and advice below will allow you to do that.

Improve Your Self-Discipline

First of all, you need to learn how to become a bit more self-disciplined. You quite simply can’t become a good credit card user if you don’t know how to control yourself and your spending. So, be honest with yourself and question how you would use these credit cards to your advantage. Once you are aware of your need to improve your self-discipline, you can start to take some concrete steps in the right direction. This will help you out a lot later one when you have a credit card.

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Look for Perks and Benefits

When you are choosing a credit card, you should look for one that has good perks and benefits for you to take advantage of. Different cards offer you different perks. Some can give you discounts on insurance, while others offer price protection. Then there are rewards. You can earn points and cash them in to get rewards. These can be very useful when you’re a single mom trying your best to get by. So, don’t underestimate how useful these kinds of things can be. Definitely compare them when choosing your credit card.

Use Cash for the Small Things

There is no need to use your credit cards for every little purchase you make. In fact, this is something that you really ought to try and avoid. It doesn’t help your financial situation at all. And many people would say that it’s a very bad way to use your credit cards. When you only use your credit cards to pay for bigger purchases, the debt won’t sneak up on you. That’s what happens to many people when they get into credit cards debt. So, use cash or debit cards for any purchases that are small or everyday.

Monitor Your Spending Closely

The great thing about credit cards these days is that they allow you to look at how you are using them. You can easily log onto your online account and have a look at your spending habits. You can see how often you are using your credit cards and what you are spending money on. It’s easy to lose track of these things if you’re not monitoring your spending closely. When you know exactly what you are doing with your credit cards, you can start to make changes to how you use them. This can make your more financially stable in the long-term.

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Use Cash Advances Carefully

Cash advances allow you to get access to money borrowed against your credit card. It can be a good way to free up some cash when you need it. And many people see cash advances as good alternatives to things like payday loans, which can be more risky. So, there is nothing necessarily wrong with using cash advances. But you should borrow in this way safely. If you don’t do that, you could get into trouble. It’s always best to be careful. Using cash advance loans the right way can help you stay afloat. Just be sure not to use them the wrong way.

Charge Only What You Can Afford to Your Credit Card Each Month

Many people become far too reliant on their credit cards. This might not seem like a big deal right now, but it can catch up with your eventually. You should always make sure that you only charge what you can afford to your credit card each month. And if you’re worried that you are not able to control your credit card spending properly, you should ask the company to set limits. This will stop you from spending too much and getting into financial trouble in the future. At the very least, you should set your own limits and try hard to stick to them.

Plan Your Finances so You Never Miss a Bill

You can keep your interest rates low if you make sure that you always make payments on time. When you miss them or make them late, your credit card company will start to see you as a risk. That’s something that is never a good thing for you, so you should try to avoid it. You can do that by planning out your finances better and creating budgets. Those budgets will need a bit of flexibility when you’re a single mom because there are so many things that you have to pay for. But if you plan well, you should be able to stay in control of the situation.
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Think About How Your Credit Card Usage Impacts Your Credit Score

When you use credit, your credit score will be affected. That’s why it’s so important to make sure that you’re aware of this and keep it in mind whenever you are using your credit cards. If you fail to make payments or use them in a way that is sloppy or careless, you will end up with a bad score before long. That will make it harder for you to borrow money and do lots of other things in the future. Your credit score has an impact on so many different things, so it’s not something you can afford to ignore for long.

Unexpected Expenses That Will Devour Your Bank Balance

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Most of us are quite good at keeping control of how much we spend. By the time we hit thirty, we’ve become masters of keeping our wallets closed and our bank accounts full. But, there are always issues throughout the year where we end up spending a lot more than we intended to. There are plenty of examples of these types of unforeseen scenarios. It may not be possible to see them coming, but we can certainly still prepare for the havoc they cause.

 

Accident and Emergency

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You can wrap your kids in cotton wool as much you like but I promise you, they’ll still find a way to hurt themselves. They might fall down the stairs climb a tree or cut their skin open. Whatever the case, at some point you’ll find yourself sitting with them in A&E and your mind, shouldn’t go to the bill. Truth be told, it probably won’t. Instead, you’ll focus all your attention on knowing that your kid is fine. Even if it is just a splinter, it could get infected you know! But then the bill arrives a few months later and suddenly you find it’s a lot more expensive than you thought it would be. How do you handle this situation? My advice would be to avoid it in the first place. Make sure you know what your health insurance covers. If the treatment your kid needs isn’t covered by health insurance, you can shop around for the best price. No, I’m not joking, medical bills can be incredibly expensive.

 

Must Have Items

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The must have item for Christmas this year is a Playstation VR. Check online, and you’ll find the price is 350. Reasonable you say? Ah, but wait because you’ll also need the camera, the controllers and the games. So, you can push that 350 up to at least five hundred. If you want a gun for shooting games or a steering wheel for races, add another hundred on. Oh, and then there’s the console itself. A new one is being released this year with the word Pro attached. So, altogether a full VR kit could cost one grand. To avoid a cost like this, you need to take a few things into consideration. Do they desperately want it? The Fortunate Investor recommends you say no to your kids on items they are going to get bored of. You’ll save money, and in a few months, they’ll forget. However, if you are desperate to buy, make sure you shop around for the best deal. At least then you won’t be wasting a fortune.

 

Home Repair Nightmares

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I find home repairs are always needed roughly two months before Christmas. I don’t know why this is, I couldn’t tell you, I think it might be sod’s law. They occur just as you don’t want them to when your finances are already stretched to the limit. I’m not talking about little repairs either. I mean issues such as the boiler breaking down unexpectedly. That could set you back nearly five thousand, just before the winter season kicks into high gear. Luckily, there is a way to avoid this scary unforeseen cost. Check your home for problems with regular, annual or semiannual inspections. Then you’ll never be hit with a bill like this because the repair won’t be that expensive.

 

Use these tips and unforeseen costs won’t devour your bank account.

 

Making More Money: Rent Your Home Out To Holidaymakers?

The internet has made things so different for so many people, in so many ways. It is now possible to do things that would have seemed like science fiction many years ago. Watch TV in Finnish? Okay! Have a video chat with someone who’s nine time zones away? Not a problem. And there are also the things more level-headed futurists might have predicted. The internet has decentralized business in a big way.

 

Due to an internet- and app-based way of living, we all know about the ways you can order a pizza from your phone and have it delivered anywhere. You can summon a taxi without needing to speak to anyone. Except, maybe, the driver. And interestingly, you can now rent your home to someone who wants to stay in it for a holiday. Well, they want to stay in your city. If it’s your house specifically they want to sleep in, that’s another thing altogether.

 

Why Would I Want To Rent My House To A Stranger?

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Good question, but you know the answer already. For money. You obviously need to have a handle on any home safety concerns. But a lot of people prefer a house to a hotel. You can offer a competitive price to make sure you get bookings. Make sure the house is clean and smells nice. Get a Vellux blanket or another high-quality option on each bed, make it feel luxurious and let the good reviews build up.

Wait, Safety Concerns?

Well, you’re going to be leaving your house to, presumably, someone you don’t know. So you have to be confident that they won’t just see it as a chance to take advantage. The websites that allow you to put your house up for rent do some vetting of the people renting.

However, it would be naive not to do your own vetting as well. Some services will assist you with this. If you’re not going to be there, take anything you really value with you.

 

How Do I Make A Regular Income This Way?

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There are a few ways. First of all, you can just rent out a room while continuing to live there. In this case, you become a guest house owner essentially. Or you can stay with friends and give your guests space. In that case, make sure someone keeps an eye on the property. In the main, there won’t be problems, but it’s your house.

Look, Is All Of This Really Safe?

There are several different websites offering the opportunity, and they have a lot of subscribers. There are a lot of people renting their houses out and a lot of individuals booking them. It’s obviously working for them. That’s not to say that it’s without problems. The internet age has brought with it new issues we never thought about before. Just take every necessary precaution – there are a lot of guides on how to do so.

The longer you do anything, the more of a routine you can manage to get into, and there are good opportunities to make an income out there. Inform yourself before you take the plunge, and you may find that it’s a substantial side gig.

3 Simple Lessons to Teach Your Kids About Saving Money

Many families approach money management as an adults-only affair, but there’s no reason you can’t make finances a family activity. Encourage your children to get involved with family spending and saving, and you can teach them valuable lessons — like the three presented here — that they’ll carry with them into the future.

Comparison Shopping

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Shopping is a dreaded chore for many children, but you can turn these necessary trips into a learning experience by getting them involved in product selection. Show your children how similar products can have different price points. With older children, you can show them how to calculate the price per item to accurately compare a package of six granola bars compared to a box of 10.

Take the lesson further by purchasing two or three different brands for the same item and holding a taste test at home. For example, “You save $2 on the generic cookies, but can you taste the difference?” Have teens do some advanced math to figure out the cost of homemade treats compared to their store-bought counterparts. Your children will begin to see those shopping shelves a bit differently.

Budget-Building Basics

Show your children how to build a budget. List your essential expenses such as rent, utilities, groceries, and gas. Subtract these expenses from the monthly income and see what you have left. Discuss as a family how you’d best like to spend the surplus. Talk about putting money in savings for emergency situations, then set an exciting goal for any funds that go further than these needs.

Once your children realize that extra funds are going into a jar for your family’s summer vacation, then they may think twice about asking for fast food that will exceed the grocery budget. You can also encourage children to help you cut your utility bills by adjusting the thermostat to ease the strain on your HVAC system or using less water with shorter showers. If your bills go down, put the excess funds in with the “fun” money.

Personal Money Management

Give your child an allowance for special extras such as toys, craft supplies, or treats. Determine which privileges you’re still willing to pay for and which fall squarely on your child. While you don’t want to take away essentials such as school supplies, you can easily get rid of ice cream treats in the freezer and ask your child to pay for these extras.

Walk your children through the process of setting a goal by determining what they want to save for and how to price that item. Figure out how many weeks of allowance are necessary to reach this goal and ask your children to save toward the big prize instead of spending the weekly allowances on tiny treats. Although the lesson is small and simple, it can help create a smart attitude toward money.

Begin teaching your children about money at a young age, even if you’re using only play money and prizes in the earliest stages. They’ll begin building smart habits that will make them savvy savers and careful spenders as adults.

How to Pick a Good Forex Broker

Before you pick an online broker, obtain a copy of their on-line demo account. Picking the proper FOREX broker for you will take a little work on your own part. It’s necessary that your Forex broker is actually a registered member of the financial institution.

To become a prosperous day trader, you don’t just require luck. Usually, more experienced forex brokers and those with a superb history of successful trades demand a greater price. My recommendation would be to pick a few forex brokers that you’re comfortable with, have credentials, have a proven good history. It would definitely be best to find in contact with as many references as possible to find an exact feedback on the possible broker.

Brokers may harm you. My recommendation is really to look at a handful of Forex brokers.

Pick forex brokers offering several trading platforms such as what you can find on http://123forexbrokers.com/.  To be considered a prosperous trader, you must be serious with all of your trading transactions. Once you learn how to deal with the risks, then you will need to learn more about direct your Forex trading account. Prior to choosing to dive into trading you have to obtain a Forex trading education.

A few of the most effective Forex trader advice I can give you is to have a software program as a way to study how to analyze the Forex market. Forex brokers get a commission that is paid via the spread offered by the brokerage. You might also seek some valuable suggestion from different active Forex traders. Therefore you have to seek a knowledgeable Forex broker.

If you understand what we have just discussed you’ll observe that a lengthy term technical method of trading is the greatest approach to produce long-term profits from Forex trading. A FOREX broker also has to be related to a financial institution, for example a bank as a way to provide funds for margin trading. If it’s endangering them then it may be in your very best interest uncover new broker. Lots of individuals want to learn more about FOREX trading.

Here are a couple of tips which I would want to give you to really get you going. In line with the expert traders, it’s simple to trade in the foreign exchange market but for the newbies, it might be somewhat difficult. To begin with, you need to make sure you’re never investing any money you cannot afford to reduce. In case you are thinking of investing online, you can choose several on-line brokers and contact their help desks.

Among the best resources to acquire a Forex trading education is utilizing the Internet. Once you study and find out more about the respective characteristics of the Forex market, the following section of your Forex trading education would be to manage the assorted risks involved. Several Americans and lots of other various nationalities are extremely curious and need to figure out ways to get appropriate forex trading education. Furthermore, your Forex trading education will likewise let you know if you are ready to perform the actual thing or you need more practice.

Decent money management allows for this to happen. In the event the prediction is right he then will win up to 90% of the investment as well as the initial investment, but if prediction falls wrong, he then is more possible to lose the entire wagered sum. Ensure your funds and it will likely be insured.

What You Need to Know About Life Insurance

The Simple Dollar’s Guide to Life Insurance

 

There’s no way to get around it: death is not a pleasant topic of conversation. However, loss does happen and when it does, it’s crucial to know that the people who depend on you are taken care of. That’s why the team at The Simple Dollar spent weeks researching the ins and outs of the life insurance purchase process.

 

Finding the Best Life Insurance

The best life insurance companies have these five things in common:

  • They underwrite their own policies — not every life insurance company owns the products it sells, rather they act as a middleman to service other companies’ policies. To avoid unnecessary confusion and obstacles, look for a companies that deals with you directly.
  • They can definitely be able to pay on a claim — the Insurance INformation Institute recommends getting ratings from two or more independent ratings agencies to ensure that you can feel confident with the company you select. Look for ‘financial strength ratings’ from A.M. Best, Standard & Poor’s, and Moody’s (hint: if they have below an A rating, it may be best to keep looking)
  • You’re able to renew your policy without another medical exam — if you develop a serious illness near the end of your policy’s term, you could be left paying exponentially more, or worse, have no coverage at all when you need it most. While premiums go up with age regardless, keep yourself protected by opting for a company that offers guaranteed renewability.
  • You can turn a term policy into a whole life one — your needs may change, and making sure you’re picking a company that accomodates this change is incredibly valuable.
  • Similarly, you can customize your coverage — the best policies are flexible, and offer riders to help you feel secure about your specific situation and needs. Keep an eye out for options like cost certainty, which ensures that your premiums won’t rise, multiple options for term lengths (i.e. 10-, 15-, 20-, 25-, and 30- year term options), and disability protection, which allows you to maintain coverage and prevent your insurance from lapsing if you should become disabled during your term.

 

What You Need to Know When Buying Life Insurance

  1. There are two types of life insurance: term and permanent

Term life insurance is in force during a set period of time, but is a much cheaper option, making it the right choice for many. The term typically coincides with your prime working years, creating a safeguard for your dependents should anything happen to you and cannot provide for them. Most people can expect that their kids will be able to provide for themselves by the end of the term, at which point, life insurance becomes less of a need and can be replaced by smart investments in retirement.

  1. Although permanent life insurance can be necessary for some, don’t purchase it as an investment.

Permanent policies make sense for certain people, like parents of children with special needs, who will likely have to take care of them for much longer. However, if you are considering opting for a permanent policy, don’t do so because of the alleged ‘returns’ on your investment. While many permanent life policies come with cash-saving features, the returns are generally very low and there are a ton of restrictions of how you can use the cash value of your policy.

  1. Your health and age at the start of your policy are the biggest determining factors in your premium rate.

Your physical health and age taken into account in order to gauge life expectancy. However, you only have to have your health measured once during a medical exam when you first apply for coverage. Insurance companies determine your projected average risk of dying and use that figure to set your premium price. That means that the younger and healthier you are at the start of your policy, the lower your premium will be.

  1. You should take a medical exam even if it’s not required.

If you’re enough, you can bypass the medical exam when purchasing life insurance with some companies. However, what they don’t tell you is that doing so could raise your premium rate. Without the medical data to prove your health, you can be considered a riskier investment for the company, and therefore have to pay more.

  1. Your driving record and credit score matter!

Though these factors are not weighed as heavily as age or health, companies can see behavior like traffic violations or poor credit as risky, driving up your premium.

  1. You and your spouse should buy individual term policies.

If you’re the primary earner in your family, you may not have considered the real cost of replacing the work your partner does. Even household tasks can add up if you outsource them, so investing in separate term policies can offset potential future costs.

 

The Key Takeaways

  • If you have dependents (spouses included) that would be shaken up financially in the event of your death, it’s better not to wait.
  • Think about how much life insurance you really need. Consider your long-term debts like student loans and mortgages and ask yourself how much it would take to sustain your household at your current spending habits.
  • Don’t assume anything! If you have employer-sponsored coverage, check to see what that really entails and whether you should supplement with your own.
  • Get quotes from multiple providers before settling on a policy — every provider has different risk factors and premiums and rates can vary from person to person as a result
  • After doing your research, sit down with a broker and review your options. You don’t have to commit to anything and most companies assume a broker fee when they set their premiums, so you shouldn’t be paying extra to have the conversation.

For more information regarding life insurance, including a helpful calculator tool to help you put everything into perspective and The Simple Dollar’s recommendations visit: http://www.thesimpledollar.com/best-life-insurance-companies/

Preparing for a New Baby on a Limited Income

Having a baby is very exciting, and a joyful experience that people look forward to. But children are also very expensive, so having a steady income that will provide you with the money necessary to give your child everything that he or she needs is important. If you are expecting a new baby but you are on a limited income, you are likely worried about how you will be able to make ends meet. Continue reading to learn a few strategies that you can use to put your mind at ease when it comes to your finances.

Consider Taking Out Loans When Necessary

To make expensive purchases that you can’t afford on your own, you can always opt to take out one of the many UK home and personal loans that are available to people just like you. If you have a low credit score and poor credit history, there are many lenders who will be willing to work with you and help you get the money that you need to support your growing family.

Stick with Breastfeeding and Save on Baby Formula

Breastfeeding is healthier for your baby, and it can actually save you money because you will not need to purchase baby formula. And instead of buying a breast pump, you can borrow one from a friend or family member who used one for their baby. Many women find that they prefer breastfeeding, too, because it helps them bond with their baby, so there are more benefits to this strategy than just saving money.

Have a Baby Shower

If a friend or family member throws you a baby shower, you can be gifted with a lot of the supplies that you will need to purchase for your baby. These include everything from baby clothes, bottles, and nappies, to car seats, prams, a cot, and everything in between. Make it a point to save whatever baby clothes and supplies you can if you are planning on getting pregnant again in the future, as you will be able to save on having to purchase everything all over again.

Look for Savings Online

Use the power of the Internet to your advantage as you search for special offers and discounts on everything that you could possibly need for your baby. There are a lot of online baby stores that you can shop from, and you may be able to save by doing that than by going to local retail stores, especially if you can get free shipping. Plus, you can also find coupons online that can be used anywhere. Shop smart, sign up for mailing lists to access discounts, and use sites that allow you to get cash back on every online purchase.

By following the tips and strategies above, you can excitedly prepare for the birth of your new baby, even if you are on a limited income, because you will not need to focus as much on your finances. Instead, you can put all of your attention on your new bundle of joy.

Budget Tips on Getting an Elegant Prom Dress For Your Daughter

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Most of us have been taught to believe that just because something is more expensive, it is better. With fashion, that belief is definitely wrong. There’s an abundant amount of clothes out there that look good and are affordable the same way that there are ridiculously expensive clothes that look like garbage.

Because you’re savvy and you know better than to fall for the idea that expensive brands are better, you’re going to look for an elegant prom dress for your daughter that’s so affordable it’ll make Suze Orman proud. Before you begin to shop with your daughter for elegant prom dresses in Chicago available at PDS, have a read at these tips first.

 

Cut down on other areas first

Prom night is expensive. And we’re not only talking about the cost of the dress. There are other things to like accessories, shoes, hair and makeup, the corsage, the limo rental. All these expenses can add up causing you to spend more than what you’d hope for.

To get the best budget for her prom dress, you need to consider cutting corners on these other areas first. Shoes are only going to be worn after a few hours right after her feet start to hurt and she’ll just want to dance barefoot. Accessories can be taken from you or her existing jewelry collection. As for hair and makeup, you can do it yourself or have a friend who’s really good at it do it for her.

You can get as creative as you want. Once you’re done budgeting these other expenses, you should have an estimate of how much you can spend on her prom dress.

 

Check the discount section

Forget what they told you about the discount section. If anything, it’s where you can find the most valuable finds at a cheap price. Most of these prom dresses are stocks from the last season so you still get a fashionable dress for your daughter for a fraction of the price. Take advantage of the discount section most boutiques have and you and your daughter might just hit a jackpot!

 

Don’t limit yourselvesto prom dress shops

Prom dresses are not limited to prom dress shops alone. You can find equally beautiful prom dresses at online prom dress stores. By checking online shops, you can easily compare prices and have plenty of options. Go for the full-length dresses or the short formal dresses. Many online dress stores have an abundant amount of choices for these types of dresses.

 

Get out of the comfort zone

Don’t limit your daughter to just one style. Check out the Prom Dress shop and like them on Facebook. The boutique carries a wide selection of styles that your daughter can experiment with.

Who knows, your daughter might just find herself liking a style that is not only good looking but also cheaper than the preferred type. Take your time exploring different types. Now even though budget has to be kept in mind during the shopping process, you don’t want to go too far off either. Just because a dress is cheap, it doesn’t mean she’ll feel happy with the style or feel comfortable in the fabric. It’s always best to maintain a balance between comfort, style, and budget. Don’t compromise on those three.

Now that you know how to shop for an elegant dress for your daughter on a budget, you should get an idea on how to find an equally beautiful piece of clothing for a cheaper price in the future shopping trips. It’s all about strategy, persistence, and time.

Not only will you and your daughter have fun during the shopping process, but you’ll have saved a lot of money that could otherwise be spent on better investments. Who said looking good has to be expensive? Certainly not us!

Did you have any tips to add? Let us know in the comments.

 

How Joining the Crowd Will Earn Me Money

Out with the old, in with the new. For lack of a more compelling mantra to start my new year with, I’m afraid I’m going to have to stick with that for now. The past year has been riddled with a gamut of events- both forgettable and unforgettable. Naturally, I choose to keep memories of those that matter.

But I have to admit that even the unworthwhile things that happened have served their purpose. They have taught me valuable lessons which I expect to strengthen my soul as I venture into new endeavors.

One of those new things I would like to try is taking online surveys. I have always been wary of invites to do it, but after doing a bit of research, I now feel more confident about trying it out. Crowdology is an example of a legitimate site which pays its members for doing online surveys. It seeks to gather feedback from consumers on certain products and services.

Not everything online is a scam. I am definitely going to try my hand at doing online surveys. It’s another way for me to earn extra money without having to rob a bank.  What a great way to ring in the new year…

8 Smart Ways to Save Money On Transportation

auto-financingAs one of my favorite comedians, Mitch Hedberg, once put it, “Transportation’s a good way to get around.” But how much is your commute costing you? Could we save money by tweaking the way we travel?

 If you’re like me, and 85% of Americans according to U.S. Department of State, your car is your main method of getting where you need to go. However, the cost of car ownership starts around $6000 a year even for a small car.

Let’s take a look at eight ways we can save on transportation.

1. Utilize travel apps

Smartphone technology has place a wealth of information at our fingertips. Apps, such as Gas Buddy, allow drivers to find gas stations with the lowest gas prices. This information is updated in real-time by app users.

2. Carpool

With the rise Green Movement, many environmentally conscious businesses are helping connect employees who want to carpool to work. In addition to reducing your carbon footprint, you can save $500-$700 each year by splitting the cost of gas. There are even brand new apps that help you carpool, sort of like Uber for ridesharing.

3. Shop around and compare insurance costs

Car insurance costs can vary greatly, so it pays to do your homework. Most major auto insurance companies allow you to get a quote online by answering a few simple questions. There are also sites that allow you to compare quotes side by side.

You can also get discounts for meeting certain criteria, such as taking a defensive driving course.

4. Walk or bike

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Pad your wallet and slim your waist by walking or biking to nearby destinations. Most of us drive to places within easy walking distance simply because we’re in the habit of taking the car. Since shorts trips cause the most wear and tear to your engine, you’ll save money on maintenance costs. Besides, getting outdoors is a great stress reliever.

5. Take advantage of public transportation

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If you live in a city, chances are you have access to some form of public transit. By taking the bus or the train, you save on gas, maintenance, and parking fees. Plus, the bus is a great place to read a book, check your emails, or just relax before you go into work.

6. Maintain and clean your car regularly

Regular maintenance is crucial to keep your car running smoothly. Changing your oil on schedule will not only increase your gas mileage, but it can also prevent costly damage from wear and tear on down the road. Ensuring your tires have the proper pressure and are rotated regularly will maximize their lifespan.

7. Limit your financing

Attracted by low monthly payments, many consumers are opting to finance their cars using long-term loans with an average term of 67 months according to CNBC. Obviously, the longer the term, the more interest you will pay. And since the cars depreciate in value over time, it is never a good idea to pay more than your vehicle is worth. If you are in a position to pay cash for your vehicle, do it. Otherwise, take out the shortest term loan you can reasonably afford.

8. Join a car share

If you don’t use your car every day, car shares like Zipcar are a great money saving option. Like using public transportation, you will save on maintenance fees and daily expenses.

Conclusion

There are many ways to save on transportation – so don’t get overwhelmed. I recommend starting with one or two of the ideas presented here as a start. Then, you can try to add another to the mix.

Do you have any other tips on transportation? Let me know in the comments below.

Here is the bio: Nina blogs about all things dogs at dogsbynina.com