Get there, save money
With commuting costs on the rise, here are some creative solutions
Making your way to work or school got much more expensive in the last few months, as some GO Transit rides were driven higher by fare hikes and the federal government’s 15 per cent tax credit on transit passes met the end of the road in June.
With the cost of commuting seeming to rise every year, financial experts say it’s time to get crafty and budget conscious about how you get around the city.
While most people know walking and cycling to your destination or bundling home and car insurance can lower costs, Toronto’s money-saving pros offered a few more creative ways to keep your commuting expenses from surging.
Take tech on the road If your commute to work involves getting behind the wheel, fuel and parking costs are probably eating up most of your travel budget, but there’s a handful of apps that can help drivers save.
Gas Buddy maps out stations and what they’re charging for gas. It requires users to sign up for a free account and crowdsources the prices from users, but is usually updated dozens of times a day and can sort stations by distance, price and location.
Navigation app Waze provides directions that are updated in real time to help you avoid traffic jams that will burn plenty of gas.
Financial blogger Jessica Moorhouse suggests parking apps and forums can also help you find free or the cheapest places to leave your car. Parkopedia, for example, maps every parking lot with empty spaces, labels them with prices and identifies which are free.
Other apps can even connect you with people renting spaces in local condos or their driveway for a fraction of a monthly parking pass. If your work neighbourhood is not covered by an app, the best way to find a free spot to park may be to ask locals.
Be smart about bike repairs Those that cycle to work know bike repairs can make a dent in your budget, especially when you didn’t expect them. Financial planner Chris Enns, who runs a blog called From Rags to Reasonable, recommends Bike Sauce, a volunteer-DIY collective at Broadview Ave. and Gerrard St., where you can borrow tools, buy parts and get help from staff to install them. “He also suggests prolonging the life of your bike chain with chain oil that retails for around $12 and reduces wear on parts. Ease into cycling Using pedal power can be an efficient way to travel and slash spending, but some get carried away with buying high-tech bikes or fancy cycling wear. Enns says bike commuters shouldn’t worry about splashing out on top-notch equipment until they are sure cycling will be a habit they can commit to. He recommends new riders start their “experiment” in the spring or summer when you don’t need extra gear. “If you end up loving it, you can start investing in some good gear for all types of weather — although often cheaper options like a rain poncho will work as well as the best gear from MEC,” he says. Calculate and carpool Carpooling might seem like a pain when you have to work around schedules or rely on others to be on time, but it comes with gas and parking savings and even offers access to high-occupancy vehicle lanes to reduce travel time. To find people to carpool with and calculate the potential savings the method will offer, Moorhouse recommends using smartcommute.ca. The tools on the site can connect you with groups who commute during all hours of the day and even on specific days of the week for commuters that have managed to eek out schedules where they work from home one or two days a week — another good way to axe transit fares and parking expenses, says Moorhouse. Cut back on the Uber addiction If you’re one of those people who can’t resist calling a cab or Uber every time you need to go somewhere, Moorhouse suggests using Uber- POOL, which claims it costs 40 per cent less than a regular Uber fare. If you’re trying to cut down on your bills and your reliance on the app, she urges you to “just delete it.” But if you won’t go that far, she has a “psychological trick.” She hides her Uber app in a back folder of her phone, where it’s still there when she’s running late and truly has no other options, but is out of sight the rest of the time, so she often forgets she has it and takes transit or walks instead. Be loyal when fuelling up Most drivers tend to frequent the same gas station or brand of station, which means they can really benefit from loyalty programs, Moorhouse says. “If it is a free program to join, join it because there is no cost to you, but keep in the back of your mind that they will be trying to push you to spend more to get points” she says. Among the programs out there are Husky’s, which offers one point for every regular litre of fuel, but two for premium litres. Points can be redeemed for everything from a cup of coffee (130 points) to a car wash (600 points for a quick clean) or another fill up (points vary).