Want to save money? It’s time to ditch your car

I always suggest people to not buy a car unless it’s really really important for your daily lifestyle. After the conversation, the next question that pops up almost immediately is – What about the daily commute? So, here’s my answer – there are other ways, sorry I repeat, other better ways to travel from one place to another. The idea behind it is to save money. Remember, money saved is money earned.

Here are a few alternatives to your car that can save you a great deal!

1. Take up public transportation

This was a no brainer. If you decide to ditch your car, you have to resort to public conveyance. But trust me, it is not a bad thing. In fact, if you are living in a big city, public transportation is going to be really efficient. Plus, it helps you save a lot of money. Metros and subways are so time efficient, that you will not feel the need for owning a car. And don’t forget that you get to escape the choking traffic, that’s such a relief! All in all, relying on public transportation is going to be a good deal. Along with saving your money, it lets you enjoy the nature around you.

2. Ditch your car and walk more

All of us are aware of the long list of benefits that ‘walking’ has to offer. I am not going to write an essay on that. But if you decide to ditch your car, there’s no better excuse to ‘walk more’. Walking makes you healthier, fitter and keeps the clutches in your joints fit for a longer period. So, getting rid of your car will allow you to go for occasional walks, or you can also decide to say, walk to the office daily (if it’s nearby). In the process, you turn out to be fitter and better and increase your own productivity.

3. Take monthly car subscription

But what for the days when you want to relish the fun of road trips or take or attend a high-class meeting? Well, follow the simple funda of the youth – why buy when you can rent! You can hire a car on a monthly subscription and utilize it like your own. It not only costs you less than the keep-up of your own car, but it also serves each and every benefit of a purchased car. A win-win! When you go out to look for a car rental service provider, don’t forget to analyze your requirements and do detailed background research on him. If you pick the right one, this can help you save wonders.

4. Bike occasionally

How many times do you remember cycling to your office? Well, once you buy a car of your own, it number boils down to zero. Again, the health benefits are numerous. Apart from that, it’s a major time-savior if your office is at a decent distance since you pass through the traffic swiftly which otherwise would have cost you hours. But this highly depends on your willingness. It not only serves as a great workout but at the same time reduces your transportation cost to almost zero. So, pick these three golden rules and the world will be a better place, bike to work, bike to play and bike home.

5. An excuse to telecommute

Everyone loves working in their pajamas, at the comfort of their bed, without worrying to lose out on a penny. That is exactly what telecommunicating brings to you. And how is it related to our topic? Simple, as you do not own a car, your employer will prefer you to work from home. This serves as a great money-savior hack not just for you, but for your employer too. Statistics have presented us two things; one, that the number of people telecommunicating has risen significantly, and two, with this, employees, as well as their employers gauge great savings.

To conclude, I am not against buying cars, but when renting can serve you the exact same benefits at a much lesser cost, why don’t we utilize the money saved to generate some decent side income, like interests, or dividends?

neOadviser