WAYS OF SAVING MONEY

Ways of Saving Money

Ways of Saving Money

Introduction

Running a family needs wise planning and management of the available resources in order to secure the future. This can be done by finding various means of generating income and saving money. Money can be saved by avoiding additional expenses and spending wisely on necessary goods. Money can be saved through various methods that include the following.

Using Public Transportation

More people are using public transportation today than ever before. One can effectively save a significant amount of money over a period of time by using public transportation that include buses, trains, subway, etc. Given are few expenses that can be saved by using public transportation.

Car Payments

Car payment constitutes a major portion of the expenses which can be avoided if one starts using public transportation. These payments can cost heavily as these have to be paid every month consecutively. The average length of a car loan is five years. If you finance a new car, this could mean that you will have to pay several hundred dollars every month for the next five years just for your car.

Fuel

Another saving of money comes in the form of not requiring to pay fuel bills. The continuous raise in gas prices does not allow an average earning individual to meet fuel expenses for a month. Therefore using public transportation saves fuel expenses as well.

Maintenance

Maintenance of a car is a regular expense that arises after every short span of time. One needs not to worry about car maintenance if he uses public transportation. Maintenance costs can be substantial over the life of your car. You will have to change the oil and filters and worry about many other things. You may have to pay for repairs on the engine or replace the tires. 

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