How to make your work commute cheaper and save a little money

Well it's finally happened! The international borders are open, masks and working from home mandates have lifted, sports and outdoor activities are back on–but what does that mean for your finances?
If you’re anything like me, you’ve saved up heaps of money due to the lack of commuting to work…or anywhere, but as restrictions lift and employers ask people to return to the office that extra saving will soon be no more.
Returning to the office has its pros and cons, and we’ve weighed up costs and benefits before. But I want to focus on the costs that come with commuting.
Everyone’s commuting journey is different - I personally catch a train and in 20 minutes I arrive at work. This commute costs me about $7 roundtrip, mostly because of the peak hour surcharge. Some quick maths shows that a 5 day per-week train commute (for roughly 230 working days in a year, considering public holidays and annual leave) costs around $1,610 annually. That’s a massive chunk I used to be saving!
If you’re like me and were saving close to $2,000 from lack of a work commute, do not freak out like I did. Below are some tips on how to keep some of that money in our pockets.
Ideas to cut the cost of commuting to work
Bike to work
Riding your bike to work can save you a lot of money and you also get the benefit of a good workout (goodbye expensive gym membership). While this is a good option for your health, wallet and the environment, hot weather and rain could ruin your commute, so always be sure to check the weather before you head off.
Use public transport
If you live in a city or town with a decent public transportation system, this alternative is a great option to cut down on commuting costs. Not only can you save on petrol costs, but you’ll be sure to maximise your commute time while someone else drives you to work (e.g. enjoy a cup of coffee, read a book or newspaper, catch up on your Netflix shows). However, keep in mind that sometimes transit emergencies could cause a major disruption in your commute time, but thankfully those don’t happen too often. Also some public transport systems have a weekly travel cap, meaning that after hitting a certain amount of money your commute is free.
Avoid peak time
This might be a capital city problem, but places like NSW make travelling during a certain time more expensive (by 30%!). If your employer allows, try to accommodate your work schedule to fit the off peak times and save yourself a couple of dollars. Every little bit helps in the long-term saving game.
Carpool
If you’re not interested in public transport or biking don't worry! Coordinate with some colleagues at work (or friends that work in the same general area) and carpool. By doing this you can save on petrol costs and put that extra money in a savings account instead.
What to do with that extra money
Now that you have some ideas on how to save money from your daily commute, it’s time to figure out what to do with it.
Some ideas to consider are:
- Building an emergency fund
- Adding it towards your sinking fund
- Using it towards a fun savings challenge
If you want your money to go into the best of the best savings accounts, check out our Mozo Expert Choice Award winners for Saving Accounts. More than 200 savings products were analysed and compared by a panel of judges to showcase which offered great value to the Aussie saver.
Ready to start saving? Check out our savings account comparison table below to get started.
Savings account comparisons on Mozo - last updated 8 December 2023
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Reward Saver Account
5.25% p.a. (for $0 to $1,000,000)
0% p.a.(for $0 and over)
Yes up to $250,000
Intro bonus rate of 5.25% for balances up to $1,000,000 for the first 4 months, reverting to 3.25%. Minimum deposit of $50 and no withdrawals.
Introductory bonus rate for balances up to $1,000,000 for the first 4 months. Minimum deposit of $50 and no withdrawals. Start your account online in under 10 minutes and earn interest on balances up to $1,000,000 (T&Cs apply). No monthly account fees, helping you save smarter and faster.
CompareCompareReward Saver Account
Introductory bonus rate for balances up to $1,000,000 for the first 4 months. Minimum deposit of $50 and no withdrawals. Start your account online in under 10 minutes and earn interest on balances up to $1,000,000 (T&Cs apply). No monthly account fees, helping you save smarter and faster.
- Maximum rate
- 5.25% p.a. (for $0 to $1,000,000)
- standard interest rate
- 0% p.a.(for $0 and over)
- Govt Deposit Guarantee
- Yes up to $250,000
- account fee per month
- $0.00
- Maximum rate conditions
- Intro bonus rate of 5.25% for balances up to $1,000,000 for the first 4 months, reverting to 3.25%. Minimum deposit of $50 and no withdrawals.
- Access
- ATM, EFTPOS, Visa Debit, Cheque book, BPay, Branch access, Phone banking, Internet banking, Bank@Post
- Minimum balance
- $0.00
- Other restrictions
- -
Read our Mozo Review to learn more about the IMB Bank Reward Saver Account
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Mozo experts choice awards won:
- No Strings Savings - 2023
Savings Account
5.50% p.a. (for $0 to $250,000)
4.75% p.a.(for $0 to $1,000,000)
Yes up to $250,000
Bonus variable rate is available for the first four months.
Competitive introductory variable rate for first 4 months (on deposits up to $250,000). No account keeping fees to pay. Multiple 2023 Mozo Experts Choice Award winner.
CompareCompareSavings Account
Competitive introductory variable rate for first 4 months (on deposits up to $250,000). No account keeping fees to pay. Multiple 2023 Mozo Experts Choice Award winner.
- Maximum rate
- 5.50% p.a. (for $0 to $250,000)
- standard interest rate
- 4.75% p.a.(for $0 to $1,000,000)
- Govt Deposit Guarantee
- Yes up to $250,000
- account fee per month
- $0.00
- Maximum rate conditions
- Bonus variable rate is available for the first four months.
- Access
- BPay, Branch access, Phone banking, Internet banking
- Minimum balance
- $0.00
- Other restrictions
- Must have a Macquarie Transaction Account to link with.
Read our Mozo Review to learn more about the Macquarie Savings Account
-
Reward Saver
5.25% p.a. (for $0 to $100,000)
0.30% p.a.(for $0 and over)
Yes up to $250,000
Earn a high interest bonus rate if you hold an eligible transaction account and meet the bonus rate conditions (T&Cs apply). Only requires $1 to open. Free e-banking transactions. No monthly service fees to pay. Access your account via e-banking or the Bendigo Bank app. Not applicable to business customers.
CompareCompareReward Saver
Earn a high interest bonus rate if you hold an eligible transaction account and meet the bonus rate conditions (T&Cs apply). Only requires $1 to open. Free e-banking transactions. No monthly service fees to pay. Access your account via e-banking or the Bendigo Bank app. Not applicable to business customers.
- Maximum rate
- 5.25% p.a. (for $0 to $100,000)
- standard interest rate
- 0.30% p.a.(for $0 and over)
- Govt Deposit Guarantee
- Yes up to $250,000
- account fee per month
- $0.00
- Maximum rate conditions
- Grow your balance each month and must have linked Bendigo Everyday or Student Account to be eligible.
- Access
- BPay, Phone banking, Internet banking
- Minimum balance
- $0.00
- Other restrictions
- -
Read our Mozo Review to learn more about the Bendigo Bank Reward Saver
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High Interest Save Account
5.10% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 and over)
Yes up to $250,000
Deposit at least $200 to either Spend or Save account from an external source each month.
No monthly fees on any of your save accounts. Split your money with up to 10 Save accounts. Set savings targets and track the progress of all your Save accounts. Deposits guaranteed up to $250K per customer.
CompareCompareHigh Interest Save Account
No monthly fees on any of your save accounts. Split your money with up to 10 Save accounts. Set savings targets and track the progress of all your Save accounts. Deposits guaranteed up to $250K per customer.
- Maximum rate
- 5.10% p.a. (for $0 to $250,000)
- standard interest rate
- 0.10% p.a.(for $0 and over)
- Govt Deposit Guarantee
- Yes up to $250,000
- account fee per month
- $0.00
- Maximum rate conditions
- Deposit at least $200 to either Spend or Save account from an external source each month.
- Access
- Internet banking
- Minimum balance
- $0.00
- Other restrictions
- Bank and saving account only accessible through iOS or Android app.
Read our Mozo Review to learn more about the ubank High Interest Save Account
-
Mozo experts choice awards won:
- Kick Start Savings - 2023
- No Strings Savings - 2023
High Interest Savings Account
5.75% p.a. (for $0 to $250,001)
4.40% p.a.(for $0 to $250,001)
Yes up to $250,000
Bonus rate for the first 4 months from account opening
Reward yourself with a higher rate for your good savings habits with the Rabobank High Interest Savings Account . Receive the maximum rate when you grow your balance by at least $200 each month. No Account keeping fees. No minimum balance.
CompareCompareHigh Interest Savings Account
Reward yourself with a higher rate for your good savings habits with the Rabobank High Interest Savings Account . Receive the maximum rate when you grow your balance by at least $200 each month. No Account keeping fees. No minimum balance.
- Maximum rate
- 5.75% p.a. (for $0 to $250,001)
- standard interest rate
- 4.40% p.a.(for $0 to $250,001)
- Govt Deposit Guarantee
- Yes up to $250,000
- account fee per month
- $0.00
- Maximum rate conditions
- Bonus rate for the first 4 months from account opening, reverting to standard variable rate. Rate shown is for Personal customers and is subject to change. Different rates apply to Business/SMSF customers.
- Access
- Internet banking
- Minimum balance
- $0.00
- Other restrictions
- Must link to a transaction account
Read our Mozo Review to learn more about the Rabobank High Interest Savings Account
^See information about the Mozo Experts Choice Savings Account Awards
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