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11 Ways to Save $1,000 this Summer

July 08, 2014

DailyWorth Expert

Making money make sense since 1993

jeanchatzky.com

You know what’s better than a glowing tan at the end of the summer? A glowing savings account. Enter my summer savings strategies. Below you’ll find a variety of ways to save up to (and over) $1,000 by October. Let’s get started:
 
Control your cruising. Have your money go the extra mile this summer by driving sensibly. What does this mean? Staying calm, cool and collected on the road, because aggressive driving (think: speeding, rapid acceleration and excessive braking) can lower your gas mileage by 33 percent on the highway and 5 percent around town, according to fueleconomy.gov. On average, you’ll buy around 145 gallons this summer. And if you drive sensibly, you can save around $0.71 a gallon. Summer savings: $103.00
 
Bike, carpool or take public transit. Save even more money on transportation by biking, carpooling or taking public transportation to work. You can save roughly $7 a day by doing any one of the above if you have a 15-mile round-trip commute. According to the 2011 U.S. Census Bureau, over 8 percent of you have commutes of 60 minutes or longer, and nearly 600,000 of you (who work full-time) have "mega commutes" of at least 90 minutes and 50 miles. This How Much Can I Save Biking to Work? Tool analyzes your potential savings. Summer savings: Up to $168 or more (by biking, carpooling or using public transportation twice a week)
 
Bag extra savings. Check your local grocery stores for gas rewards programs, like the one I love at Stop & Shop. For example, when you sign up for this particular loyalty card (which accepts Peapod purchases too), you’ll earn one point for every dollar you spend — and for every 100 points you earn, you’ll save $0.10/gallon at the pump. According to the USDA, the average four-member family (on a moderate-cost budget) spends $239 a week meaning your card could save you $0.20/gallon at the pump. Summer savings: Up to $29 or more

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