Drive, Bike or Train: Here’s How to Save on Your Commute

Saving on commuting can make a big difference in your monthly expenses whether you’re driving, flying, or taking the train. And you may already know that one of the best ways to save money to invest later is to save on parts of your budget that do not lead to wealth generation - such as your commute.

So without further ado, check out the Wealth Elf’s tips to (some small, some dramatic) savings on your commute.

🚗 If You Drive:

First, consider carpooling. By sharing rides with coworkers or neighbors you’ll split fuel and parking costs. Alternatively you can use a more fuel-efficient vehicle – A hybrid, EV, or smaller car can cut fuel costs.

Next, plan your routes efficiently. By avoiding traffic and combining errands you’ll be able to reduce miles and save a ton of time. Also, small details make a world of difference when you maintain your car. Proper tire pressure, oil changes, and tune-ups improve fuel efficiency.

Buy Gas at the Right Time using apps like GasBuddy to find the cheapest nearby stations and avoid overdoing it on air conditioning. A unique alternative is also to rent on your car when you’re not using it. If you work from home a bulk of days, “sublet” your vehicle through services like Turo, Get Around or Hyrecar.

Peer-to-peer car rental can be a smart way to offset car ownership costs.

These platforms handle insurance and screening, provide pricing tools and customer service then take a percentage of your rental income.

✈️ If You Take the Train:

Weekly, Monthly, or Annual Passes often provide significant discounts over daily tickets. Trains outside of peak hours (early morning and late afternoon) are often much cheaper. If your schedule is flexible, shifting your travel time even slightly can reduce costs.

For Amtrak, advance tickets (often available online) are cheaper than on-the-day purchases, especially for longer journeys - so plan ahead. Check if your employer offers a season ticket loan, pre-tax commuter benefits, or participates in travel voucher schemes which can save you loads of money.

Next, Use Cashback and Reward programs. By paying with a credit card offering cashback or travel rewards you can take advantage of rail operators who have loyalty incentives. And if you’re looking to be crafty, consider split tickets.

By buying separate tickets for parts of your journey rather than a single through-ticket you can enjoy steep discounts. Websites like TrainSplit, Split My Fare (UK), or RailEasy (UK) automate this process.

🚲 If You Bike:

Cycling to work can already be a major money-saver, but there are still smart ways to cut costs further.

First, take Advantage of Employer Benefits known as Qualified Bicycle Commuting Reimbursement.

Some employers offer commuter stipends or wellness incentives that can be used toward bike gear or maintenance. Ask HR if there’s any reimbursement or green commuting program at your workplace.

To avoid theft (and replacement costs) get a quality U-lock ($40–$80) and always lock through the frame and wheel. You can register your bike on BikeIndex.org for free.

Finally, track your savings. By using an app like Strava, Ride Report, or even a spreadsheet to track miles biked you’ll be able to reward yourself for your money saved vs. driving or public transit.

Do you think any of these tips will work for you? Visit us at @wealth_elf on Instagram and share your favorite.