Rail fare price hikes: How to prepare

With rail fare prices set to soar by up to 5% from the start of next year, there's a good chance you may be left wondering how you'll cover the increased costs.

If you take the train to work, it can form an integral and convenient part of your daily commute. However don't worry, there a number of ways to beat the price hikes, not to mention some practical (and healthy) alternatives.

1. Book your ticket in advance

According to the latest figures, 45% of rail passengers have wised up to the fact you can save money by purchasing your tickets in advance. This can mean avoiding the ‘maximum' in-station costs that are usually applied.

2. Talk to your employer

Some employers offer subsided rail-travel through season tickets or in the form of interest free-loans to help cover the costs. So talk to your employer about any assistance that may be available.

3. Walk to work

While this might not be feasible if your commute is too long, for those taking shorter train journey's walking can prove to be a viable, cheap and healthy alternative. With an app like walkit, you can mix up the route you take, keep track of your journey time and count the steps you've taken and calories burned.

4. Cycle to work

In addition to saving money, cycling can prove to be a quick and easy form of transport, with the added benefit of improving your fitness. Many companies now offer cycle to work schemes, where you can purchase a bike with a 20-40% discount. And you don't have to pay it all upfront - it can come out of your monthly wage in installments.

5. Get the bus

Your journey might be slightly longer, however if you're looking to make some easy savings, commuting by bus may be the answer. It's worth exploring which buses and routes are available to work out how much of a saving you can make.

As part of your budgeting efforts, remember to keep track of your travel costs using our free budget planner – we'll do all the number crunching so you don't have too.


Posted by Money Dashboard


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