Cutting back on transportation can be as easy as refinancing your auto loan with NASA Federal Credit Union—if you have an auto loan. If you’re paying more than you’d like, consider downgrading to a smaller, less expensive car, or one that costs less in maintenance and upkeep.
Ask yourself if you really need a car, or if your household needs as many cars as you have. One less car means lower monthly costs on car payments, insurance, gasoline, and repairs.
If you’re looking to save on auto insurance, be sure to compare apples to apples—the coverage you’re getting should be the same, with a lower price. If you’re taking less coverage, be sure that makes sense long-term. It’s a good idea to shop around for insurance every year or two, and you might save more by combining your home and auto insurance into one policy.