By Ipeleng Letsoalo
Even with the petrol price going up and down every so often, there is still a way that we can use our finances wisely and save. Normally the petrol hike hits us when we least expect it.
The petrol increase is something that we have to live with as we cannot really run away from the reality that we need fuel to be mobile, the best thing is to make peace with it and read more below as The Solomon Star guides you on how to continue saving in this situation.
Petrol hikes because of the weakening rand and the rise of oil prices internationally. Oil price increases are generally thought to increase inflation and reduce economic growth, in terms of inflation oil prices normally affect the price of goods made by petrol. (Imagine how many things are transported by oil.) The increase in petrol affects everyone because when petrol goes up, goods become expensive. This is because the goods are transported to reach the suppliers and when we as consumers go and buy the goods we also use petrol to get there. Whether you use private or public transport you are affected. When using private transport your pocket is stretched because you must increase your budget by paying more for fuel. The same applies when making use of public transport.
Here are 6 TIPS that can help you save money with the petrol, diesel or oil prices going up:
• Instead of you traveling alone to and from work rather create a lift club – gather two or three of your work colleagues, agree on a petrol contribution and stick to it so as not to disappoint any of the members of your carpool.
• Don’t leave your car idling for too long in the morning, get in your car, start it and go.
• Reduce your driving speed. The quicker you drive, the quicker you use fuel. Reduce your speed so that you save petrol, and so that you are a safer driver. Plan your time well so that you don’t have to rush to get somewhere. Leave early enough so that you can have an easy and safe drive.
• Instead of doing weekly or daily groceries, which requires frequent up and down travelling to the shops and back, plan your monthly grocery list so that you do them once or maximum twice a month. Stick to what is on your grocery list so that you don’t come back with unnecessary items that you didn’t need.
• When travelling, avoid using long routes. On the condition that they are safe, check for shorter routes so that you can reach your destination quicker.
• Minimise the use of air conditioners as it also affects your petrol or diesel usage.
Practicing the above will slowly but surely assist us with how we manage our money with regards to transportation. No matter the means of transportation, always look for a financial savvy way to get around it. Life is expensive but when tips and tricks are applied, we can beat the system and get out with a couple of extra pennies in our pockets.