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Drivers Advised To Be Frugal With Fuel Finances

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In the face of volatility in the financial markets and the continued impact of the credit crunch, it is important for motorists to take steps in reducing pressures on their spending.

Which? claims in its Money Saving Handbook guide that driving at reduced speeds can result in massive savings for Britons. By driving at 50 miles an hour instead of 70 miles an hour, it was stated that petrol expenses could be cut by as much as 30 per cent.The consumer publication also advised drivers to make sure they regularly check their tyre pressure levels within. Driving on tyres which are under-inflated was noted as adding another 8 per cent on to your annual petrol bill and often results in uneven wear and "premature" Tyre failure. This, it was claimed, could lead to "added expense" following on from expensive repair bills.

As a result of higher than necessary motoring costs, it is also possible that consumers develop difficulties in managing other financial demands. Other areas could well include poor credit loans, credit and store cards, household bills and council tax repayments.

Which? also reccomended switching off your air-conditioning as another good way of saving money. Constantly having your air-conditioning on could add up to 10 per cent to fuel expenses. They also recommend changing gear at the opportune moment could save as much as another 25 per cent of fuel expenses. They also reported that bike and roof racks should only be used when necessary. Constantly having a fully-loaded rack could add a significant 30 per cent on top of petrol costs.

The author of Money Saving Handbook, Tony Levene, a Which? essential guide, said: "There are some costs involved in driving a car that have to be paid whether you drive two thousand miles or twenty thousand miles a year. However if you can save on your fuel bill by a couple of pounds each journey by making a few easy changes to the way you drive or use your car, why not? Especially ith petrol costs rising and people feeling the pinch, those couple of pounds could make all the difference at the moment."

For those people concerned about their capacity to manage their finances as 2008 progresses in the face of rising costs taking out a loan may be advisable. By doing so borrowers could find that they are able to meet various demands on their spending and make major purchases effectively. One such area in which a personal loan may be particularly recommended to be used is for buying a car, as it may see consumers be able to purchase the vehicle of their dreams quickly and effectively. The additional assistance from a loan, whether it is a personal loan or otherwise, could help drivers to purchase a comprehensive insurance policy. Last month, uSwitch reported that motorists should take their time when selecting their insurance as those who automatically choose the deal offered by their motor manufacturer would pay an extra 26 per cent compared to the most competitive deal on the market.
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