With rocketing fuel prices, most individuals are grappling with tough economic choices. One such choice revolves around the feasibility of carpooling as a method to alleviate fuel expenses. Typically, workers in the US live about 16 miles from their workplaces. As fuel prices soar, currently surpassing $4 per gallon, the cost of commuting is becoming astronomical. Factoring in an average 20 MPG vehicle for a regular five-day, 40-hour workweek, fuel expenses alone can reach about $1600 per annum.
Carpooling could save you some money even if you chose to do it part of the time. These savings could be diverted to boost your savings account, cover debt, cater to car maintenance/repair costs, or even fund a vacation.
Carpooling Explained
Carpooling, also referred to as ride-sharing or car-sharing, involves a group of individuals sharing a ride to work in a single vehicle. Usually, each member of the group takes turns to drive on designated days. The more people you share the ride with, the more you save on commuting costs.
Benefits of Carpooling to Work
Fuel Savings
When a group carpools, rather than five cars commuting, only one is used, thus saving 80% of the fuel cost. Avoid filling up your tank at stations near busy highway exits as they tend to be more expensive.
Lower Maintenance Costs
Carpooling also saves you maintenance costs as it reduces the mileage covered by your vehicle on a daily basis. You can either split the commuting costs with others or rotate the use of cars among the group members, thus ensuring equal distribution of costs and wear and tear.
Time Savings
In busy cities, carpooling can save you valuable time. Many cities allow carpoolers to use the high occupancy vehicle (HOV) lanes, hence bypassing heavy traffic. If more people adopted this method, it would reduce the number of cars on the road, shrinking traffic for everyone.
Lower Carbon Emissions
Carpooling not only benefits individuals financially but also positively impacts the environment. It helps minimize carbon emissions and pollution level. If more people adopted carpooling, even with just one other person, we could massively reduce carbon dioxide emissions and the overall effect of pollution.
Less Traffic Congestion
Carpooling curbs the vehicle density on roads and highways. Consider this: if a standard sedan is filled to capacity, that’s four less cars contributing to traffic. By joining a carpool, you can play a significant part in easing the hefty congestion common in many urban settings.
Carpooling Resources
Carpooling also offers a great opportunity to socialize and network during your commute. Begin your search for carpooling partners among your coworkers since you share the same destination every day! Below are four online resources to help you save money and reduce your transport carbon footprint:
– eRideShare: Connects with other commuters and offers ride-sharing tips.
– Waze Carpool: Connects riders and drivers, enabling car owners to register their profiles for reimbursement.
– Ride Share Online: Facilitates arrangement of daily commutes and long-distance trips.
– nuRide: Offers rewards for carpooling, walking, etc.
– Carpool World: Provides free rideshare resources and an app.
Revamp Your Driving Habits
The initial step in cutting down on gas expenses starts with reassessing your driving habits. You may discover that changes such as opting for greener cars or walking/cycling for shorter journeys can bring gas costs down.
Keep Your Car Well-Maintained
Vehicle maintenance impacts fuel consumption. Before hitting the road, ensure your tires are properly inflated, as under-inflation leads to higher fuel use per mile.
Use Apps to Identify Cheaper Gas
Apps like Waze and GasBuddy help locate cheaper gas stations. Use these apps before fueling up to identify the most affordable options nearby.
Shop for Fuel-efficient Vehicles
If you’re considering switching to a fuel-saving car, be strategic. When fuel prices rise, demand for these cars goes up, causing an increase in their prices due to the competition.
Find more tips on how to cut down on gas expenses on SmartAsset.com.
