According to a 2019 consumer financial literacy survey, fewer than one in five U.S. adults feels very confident about their spending habits. It’s likely that the ongoing COVID-19 pandemic has inspired even less confidence in financial matters among Americans, as millions have lost their jobs and countless others are grappling with unexpected costs.
As a result, you’re probably looking for ways to save as much money as possible — especially as the holidays approach. But while you could try to get a side hustle or cut back on unnecessary expenditures, you can also curb costs by protecting what you already have.
If you’re like most Americans, your car is your lifeline. Without it, you’ll have a tough time commuting to work, getting to the grocery store, or accessing a number of essential services. Of course, owning a car can be expensive — and those costs can go up if you’re not careful on the road. Here are just a few ways that you can protect your vehicle and potentially save money this holiday season.
Obey the Speed Limit
Following the rules of the road can protect both you and your vehicle, but it can also keep money in your wallet where it belongs. Around 1.25 million people die in road crashes worldwide each year, but even those who are involved in non-fatal accidents may have to deal with interior damage to the car, insurance premium increases, property damage, debilitating injuries, and legal complications. That’s especially true in hazardous winter weather. Whether you’re facing a traffic ticket or a totaled vehicle, you could end up paying a steep price for failing to follow the speed limit. Keep in mind that even if nothing devastating occurs due to your speeding, you still might pay more for this behavior. Traveling above the speed limit or frequent braking and acceleration can take a toll on your vehicle and derail your gas mileage. You might end up paying more in repairs and in fuel just because you don’t want to obey the speed limit. Instead of relying on speeding, give yourself a bit more time to get to your destination this holiday.
Remove Valuables From Your Vehicle
A burglary occurs in the U.S. every 13 seconds, so it’s important to ensure you’re not an easy target. One simple way to deter would-be thieves is to hide or remove valuables from your vehicle. If you’re out doing Christmas shopping or running errands, take the time between stops to remove expensive items from view. And if you’re parking overnight, be sure to remove these items from your car and put them somewhere safe in your home. Even a stray phone charging cable or GPS device should be hidden from view whenever you leave your car to avoid the risk of a break-in.
Pick the Right Parking Spot
In addition to removing valuables from plain sight, you should also be smart about parking. If you have an enclosed garage at home, be sure to park there instead of on the street or in an exposed driveway. And if you’re out and about, park in a spot that’s well-lit and close to a building’s entrance. You should also park away from larger vehicles to ensure you don’t give criminals any visual cover. When bringing shopping bags back to the car between different stores, take the time to repark your car; some people will actually watch for shoppers who have brought purchases back to their vehicles in between trips. Another trick is to turn your wheels to the side once you’re in your parking space. This can make your car more difficult to tow in a crowded parking lot. Since some thieves will actually resort to towing stolen cars, this can be another way to deter them.
Lock Your Vehicle Regularly
Although it should go without saying, it’s important to lock your vehicle every time you exit the car. Even if you’re running back in the house for only a minute or you want to drop something off quickly to a family member, take the time to shut off your car and lock it beforehand. When you return to your vehicle, you should take care to lock your doors immediately once you’re inside. Many of us may sit in our cars, looking at our phone screens, before departing. Thieves may try to take advantage of this distraction, but locking your doors right away can keep you and your belongings safe. If you aren’t already in the habit of locking your car in your own garage or neighborhood, make this part of your routine.
Get Known Problems Checked Out
Taking your car in for a tune-up doesn’t necessarily sound like a great way to save money. But if it’s been a while since you had repairs performed or you’re worried that a small problem could spiral out of control, it’s best to get ahead of the issue before it becomes an expensive failure. If you’re hearing strange noises or seeing unusual dashboard lights come on, do yourself a favor and take your car to the mechanic. While you might have to incur an unexpected cost, it’ll typically be lower than what you might see if you ignore the problem altogether. In addition, you’ll protect the longevity of your vehicle and you may be able to prevent a road emergency.
While you can’t necessarily predict or prevent every negative situation on the road, it’s important to be as proactive as possible. By following these tips during the holiday season, you’ll be in a better position to protect your car and save money at the same time.