In my quest to figure out ways in which I could cut expenses, the first thing that popped into my head as a major expense was my car. I was able to find a website that allowed me to learn the yearly cost of my car. What a shock to find out that my car costs me almost $6,300.00 per year in gas, insurance, and maintenance expenses! Yikes!
Obviously, the logical money saving move would be to get rid of the car. Unlike owning a home or paying insanely high tuition fees, the car will not make me money. For every mile I drive, the value depreciates. The car is a money pit.
But what would I do without a car? Could I really expect my kids to survive without a car at college? In my quest for solutions, I discovered four ways to live without a car.
Public Transportation:
City buses cost around $1.75 one-way. Most cities with a university allow college students to travel for free provided they have a valid student ID card with a bus sticker (which is typically obtained from the Registrars Office. My around town gas costs at least $420.00 per year (when gas prices aren’t above $3.00 per gallon) so free transportation anywhere in Santa Barbara sounds like a great deal to me!
What about traveling farther, like trying to go home monthly to visit family? Amtrak offers great deals on bus and train travel. Students can save 15% on travel if they sign up for a Student Advantage Card. Normal gas expenses for me to get home are close to $650.00 per year, whereas taking the train home costs $600.00. Yes, it may only save me $50.00 per year on gas, but factor in wear and tear on the car and the savings definitely grow.
Total savings by switching to public transportation: up to $5,700.00 per year
Zip Car
For students who really only use their car to get groceries once a week because they live and work on campus or just go to school, there is the option of Zip Car. Zip Car is a car sharing service that costs an annual fee as well as an hourly fee (or daily depending on what you need) to use their car. The annual fee is $35.00 and it costs $8.00 hourly or $66.00 for the entire day (24 hours) to use the car. Gas and insurance are included in these fees. For students who only need a car once a week to go get groceries, this program can cost them as little as $451.00 per year.
Total savings by switching to Zip Car: up to $5849.00
Carpooling
Sharing a ride with a coworker or classmate to get to work or school can significantly cut transportation expenses. Sharing a ride can also work in order to get a ride home to see family. It is easy to find a ride with a friend or classmate who is headed in the same direction. Spilt the cost of gas with the driver.
To get to the market, tag along with a neighbor the next time they go and offer to make them dinner as a “thanks for the ride!”
These three options combined can save about $535.00 per year on gas.
Total savings by switching to carpooling: up to $5765.00
Walk or Ride a Bike
If you (or your college student) are fortunate enough to live close enough to school or where you work that you can walk or bike instead of driving, do it! Walking is (gasp!) free and provided you take care of your bike, it should only cost you the initial purchase price as well as the price of a lock which combined should come out to no more than $250.00 total (unless you are getting a high quality bike, then it will be more).
Total savings by switching to walking: $6,300.00
Total savings by switching to biking: up to $6,050.00
To say that it is possible to just use one of these options to completely fulfill all transportation needs would not be true. It takes a combination of the above options to meet all travel your travel needs. Sit down and figure out what would work best for you or your college student, it’s worth the time to figure it out. The combination that would suit my needs would save me $6,000.00 per year! WOW!!!!
The other cool thing about ditching your car and using one of the above transportation options is that you significantly decrease your carbon footprint. Saving money and going green, sounds like a good deal to me.
