One Hundred Dollars a Month

Welcome to my 52 Ways to Save $100 a Month series. We’re serious about saving money in 2016. Sometimes it’s the little things and sometimes it’s the big things. I’m here to walk you through some little things that can add up to BIG savings. 52 little things to be exact. Every week, join me back here for another small money saving tip or idea that might not seem like significant savings until you see the overall yearly savings. It might just blow your mind. So pop in each Tuesday and read a new tip that will help you on your way to save $100 a month!

I know some of you live in cities where cars are optional. I also know that some of you live in more rural areas where 2 cars in your family are essential. I completely understand, but today I’m talking to those 2-car families who have not yet examined the possibility {or explored the saving that follows} of ditching one of your cars. The savings are pretty profound, although it will take some juggling, some sacrifice and some serious adjustment.

Determine if it’s Feasible: Sit down and write down your weekly schedule. When does your required travel actually overlap? How often are both of your vehicles away from your house? If it’s during the same working hours, think of alternative ride sources. Public transportation may be key if you live in a bigger city, and carpool or ride sharing might be an option if you live in a smaller city. It’s identifying the actual vehicle gaps that will tell you if this is even an option for you. If your husband is a traveling salesman and you cart kids in 5 different directions during the same time, this might not work for you. But if you take a hard look at essential travel, it might surprise you to find you can make this work.

Make a Plan: Reducing your family vehicles will require much more planning and coordination. You can’t just hop in the car and drive to the store without being aware of your spouse’s schedule and vehicle needs. Make a car calendar that is visible to the whole family.  Check local bus, tram and train schedules and have them posted nearby as well. The visual will help you see if there are any upcoming gaps and plan accordingly.

Spend a Little to Save a Lot: Just because you cut out the expense of a second car doesn’t mean your vehicle budget will be cut in half. If you use public transportation or rack up more miles on the one car you have, make sure you budget accordingly. The savings will still be substantial, but you still have to work some extra costs in to your budget to allow for those big savings.

Learn the Art of Pedal Power: Do you own a bike? Do you live in a bike-friendly community? {I don’t suggest you pedal down the freeway} You might have to get up an extra hour earlier, but hopping on your bike to commute to work not only solves the transportation problem, it’s great for your health and your environment. You’d be surprised just how far you can pedal. Don’t let an office 20 miles away deter you. If you live in a traffic congested area, you might just speed right by all those enraging traffic jams. Of course, you have to create a back-up plan in case of weather.

Walk the Talk: Walking to work is obviously only an option if you live relatively close to work. While this might not be an option for everyone, I love to walk and think a stroll to work in the morning would calm me and prepare me for the stress of the day. I’d be willing to walk about 5 miles to work, but for some that number might be much less. I say if it’s possible, huff it!

Carpool is King: I’m not just talking the morning neighborhood carpool to school. You can carpool to school activities, kid’s sports, the gym and, of course, work. Many cities offer “Park and Ride” commuter van carpools for a nominal fee. If you can coordinate it, think about carpooling with a spouse. You might have to drive a bit out of your way for the drop-off, but the savings make it completely worth it! Check with neighbors. You might not be driving to the same office, but if you’re in the general are, the carpool might still work. You can also pay for a carpool to keep from  having to take a turn. The small fee you pay will still be thousands less than what a second car would cost you.

Think Outside the Box: Maybe a commute is not as necessary as it once was. We live in an age of telecommuting. Could you possibly work from home one or more days a week? Companies are increasingly allowing telecommuting instead of having employees work from an office, as it lowers their overhead as well. Discuss this as an option with your employer. This would eliminate the need for transportation to work and make life with one less car that much more possible!

How many cars does your family have? Do you think reducing that number by one is a possibility?

How Much Can You Save: $9,000+ That is what studies say the average cost to own a standard sedan per year is. If you own a larger vehicle or a luxury car, that number dramatically rises. This includes routine car maintenance, tire replacement, depreciation, licensing, registration, and taxes. This does not include monthly payments if you are leasing or still making payments on your car. If you factor that in, the savings are staggering. AAA suggests a savings of $62,000 over 5 years. SIXTY TWO THOUSAND DOLLARS!!! HOLY CATS PEOPLE!!

More Ways to Save:

52 Ways to Save $100 a Month | Clean Out Your Closet {Week 1 of 52}

52 Ways to Save $100 a Month | Break Up with Cable {Week 2 of 52}

52 Ways to Save $100 a Month | Barter Better {Week 3 of 52}

52 Ways to Save $100 a Month | Change Your Own Oil {Week 4 of 52}

52 Ways to Save $100 a Month | Adjust Your Thermostat {Week 5 of 52}

52 Ways to Save $100 a Month | Take Advantage of Your Perks {Week 6 of 52}

52 Ways to Save $100 a Month | Pack Your Lunch {Week 7 of 52}

52 Ways to Save $100 a Month | Make It Yourself {Week 8 of 52}

52 Ways to Save $100 a Month | Preserve Your Bounty {Week 9 of 52}

52 Ways to Save $100 a Month | Keep the Change {Week 10 of 52}

52 Ways to Save $100 a Month | The Art of Borrowing {Week 11 of 52}

52 Ways to Save $100 a Month | Ditch the Gym {Week 12 of 52}

52 Ways to Save $100 a Month | Clip a Coupon {Week 13 of 52}

52 Ways to Save $100 a Month | Start Your Garden From Seed {Week 14 of 52}

52 Ways to Save $100 a Month | Learn to Cut Hair {Week 15 of 52}