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Ways to Cut the Cost of Commuting

Commuting is one of the biggest costs people working outside the home have to worry about. The Internal Revenue Service calculates the deductible cost of driving your car as 58 cents per mile. If you commute 20 miles round trip, five days a week, 50 weeks a year, that’s $2,900 a year disappearing into your car.

Finding ways to trim that cost, even a little, can be an enormous savings. Even a 10% reduction in that cost adds up to $290 a year.

Thankfully, there are many easy ways to cut into that commuting cost if you drive to work each day. Here are eight things you can do to significantly trim commuting costs without taking radical steps:

  • Telecommute.
  • Carpool.
  • Take mass transit.
  • Ride a bicycle or electric scooter.
  • Rethink your route.
  • Buy gas from a warehouse club.
  • Stick with your car maintenance schedule.
  • Think ahead and streamline your tasks.

Sarah Goldberg
Sarah Goldberg

Sarah is a seasoned financial market expert with a decade of experience. She's known for her analytical skills, attention to detail, and ability to communicate complex financial concepts. She holds a Bachelor's degree in Finance, is a licensed financial advisor, and enjoys reading and traveling in her free time.

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