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90-Second Financial Fix

Cut your commute time, slash your costs

About the author

Kelsey Hubbard is a freelance broadcast journalist based in Connecticut. She is a former host of ABC News’ Money Matters and was a longtime host and reporter for The Wall Street Journal’s daily video business news shows.

How much time do you spend driving to work? One hour? Two? Even three?  You may think you know how much of your hard-earned salary goes toward funding that commute, but most of us underestimate the cost of our daily ride to work.  

Fuel hikes, automotive wear-and-tear and road tolls can quickly sink a household budget. Indeed, the average Australian household spends around AUD$8,000 ($7,007) each year on transport, of which AUD$2,500 ($2,200) on average is for fuel, according to Australian cycling group Bicycle Network.

The average US household spends almost $3,000 a year on gasoline alone, according to the US Energy Information Administration.

But there are ways to be more savvy about commuting. Technology can help. Smartphone applications, available around the globe, will re-route you around accidents and traffic jams in real time or guide you to the closest and cheapest gas station.

Click ‘play’ to learn about new ways to save hundreds on fuel every year — in 90 seconds.  

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