Tips for TLC drivers to save money and cut costs
The price of gas has jumped, and food and bills are getting more expensive too. So what can TLC drivers do to save money and keep costs low?
Data from the AAA shows average gas prices hit $4.24 at the time of writing on March 25, 2022. This is compared to $2.87 a year ago.
Usually, if you want to bring more money in you’d simply work more hours. But the price of gas means this may not make sense right now.
So what else can you do to save money and cut costs? Here we set out the kinds of costs TLC drivers have to deal with, and some ways to manage them.
- Check for the lowest pump prices in your area. There are a few apps that can help, such as Gas Guru, Waze and AAA TripTik Travel Planner.
- On the subject of apps, there are a few that give you discounts and cashback, like GasBuddy, GetUpside, TruNow and Dosh.
- Think about the kind of gas you use – ‘premium’ gas costs more, but probably doesn’t make much difference.
- If you don’t mind filling up more often, keep less gas in the tank – less weight means better fuel economy.
- To use less gas, the advice is to drive smoothly and go easy on the accelerator and brakes.
- Where possible, plan your pickups so that you’re not driving long distances between trips.
- Thought about food or parcel delivery? Shorter distance deliveries might help with driving less while still earning.
- Keep your tires at the correct pressure for fuel efficiency.
- Air con and heating are gas guzzlers. Think about using both less if you can, while making sure riders are still comfortable.
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Maintenance and repairs
- Shop around when replacing tires – prices can vary a lot.
- Do you have a service plan for your car? Having one can save money overall – ask your car dealer for information.
- Some repair shops are cheaper than main dealers, but check you can use one under your vehicle lease terms (if this applies) – you’ll still want good quality repairs.
- If you think a parking ticket is unfair, you can dispute it. You have to request a hearing within 30 days of getting the ticket to avoid late penalties. You can dispute a ticket online, by app, by mail or in-person. More info on ticket complaints here
Taxes and write-offs
There’s quite a lot that drivers can write off as business expenses, meaning less of your money is taxed. Some of the main write-offs for TLC drivers are:
- Mileage and car expenses
- Interest on loans
- Startup costs
If you’re not sure what to claim, it’s worth speaking to a tax expert.
- Clearly you need insurance for your job, but it’s also important to get you back on track if you have an accident. Think about the kind of cover you need and whether it can flex with your work. It’s also worth thinking about whether you want to pay more for cover with extra benefits, which can help if you find yourself unable to earn.
At INSHUR, we help our drivers save money and keep earning. To get quick, easy TLC insurance from your smartphone, visit INSHUR now.