If you own a car, then gas, car insurance and maintenance costs can become a hefty budget item. To save money on gas, consider carpooling to work or using public transportation, says Clarissa Hobson, a CFP with Carnick & Co. in Colorado Springs, Colo. You can also cut transportation-related expenses by raising your insurance deductible or switching to liability-only car insurance, says Matt Kelly, owner of Momentum Personal Finance Coaching in Durango, Colo.
If you're still making car payments, consider trading it for an older model that you can pay for in cash. You also can ride your bike or walk if you're close enough to your destination. That's a good option for your budget, health and the environment.