How to minimise vehicle expenses in a strained economy

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Manage your fuel spend accurately

Calculating and managing fuel spend is not an enjoyable task and one that many of us let slide. However, there are easier ways to do this, such as Vehicle Tracking Applications that can help you manage your vehicle data, including fuel expenses.

This allows you to make use of the data and insights from the tracking device to calculate your fuel consumption per trip. This information can then be used to inform your driving decisions such as choosing shorter, more cost-effective routes for example.

What’s more though, is that you are also able to monitor your driving style – by reducing speeding, revving, and excessive idling, it is proven to impact the fuel consumption of your vehicle.

Understanding the fuel network

You do not have to be an economist to ensure you prepare for the uncertainties of life financially.

Make sure you understand how fuel hikes will affect not only your vehicle expenses but the overall effect it will have on the market and your budget. Understanding that the cost of fuel directly impacts the cost of groceries, for example, can help you make smarter choices when choosing products.

You should know the prices of your regular grocery items, so you can simply check the prices and adjust your choices.

Planning your trips

Being more selective with the trips you are taking and planning your routes well will help reduce fuel spend.

Fortunately, for many, there are not that many school trips, meetings or drives to the office taking place during the lockdown and so, saving some money on fuel becomes a little easier.
What is important though is that you put this saving to good use – either for that unforeseen vehicle expense or for that much-needed car maintenance down the line.

If you live close to work, school or the shop, rather consider walking there than taking the car.

Adopt savvy driver behaviour

Other helpful motoring tips that can make a difference to your fuel consumption and save you money include:

• Avoid rush hour traffic and harsh stop-start driving, where possible
  
• Switch off the automatic stop/start function on your car (if you have this) as not only is it safer should you need to get away quickly but can also save you fuel
  
• Drive smart (through monitoring your driving) and stick to the speed limit
  
• Rather open windows and avoid using the air-conditioning in the warmer weather
  
• Avoid excessive idling
  
• Do not carry unnecessary heavy weight around in your car, such as a toolbox or roof rack unless it’s being used frequently
  
• Check tyre pressure at least once a week

While the ripple effect that comes with fuel price hikes may get you re-counting every penny, these tips will help minimise your vehicle expenses.