save money by sharing

Save money by sharing

12 May 2022
Reading Time: 10 mins

Can you really save money by sharing?

Sharing is a fundamental social tool we learn from a young age. We are taught to share our toys, play nicely and help others. For many, this ethos carries over into our adult life. Here at MoneyMagpie, we believe sharing is something we should all do, especially in such unprecedented times.

Sharing in a time when we are all struggling is important for many reasons. We are all in the same boat, with the cost-of-living crisis and rising energy costs hitting us hard. Not only is sharing a kind thing to do, but helping your friends, family and neighbours and supporting each other in any way we can is more important than ever.

Helping one another and sharing what we can, may be the reason someone has food on the table, a roof over their head or a way to get to their place of work. Not only could it help others, but you could save money by sharing, too. In some circumstances, it could even make you a little extra money.

Here are some of our favourite ways to save money by sharing.

Sharing your car

car share

Car sharing has always been a favourite amongst colleagues as a means to save money. With the cost of fuel skyrocketing in the last few months, ride sharing to work, to the supermarket and even to places of worship could save you plenty of money on fuel.

The more people you can get in on the sharing, the better. Sharing between two of you will halve your fuel costs when it comes to trips to work. But finding a group of four or five of you could split your costs even more and save you all a bucketload on petrol costs.

Say there are five of you in a group, who all work at the same place. If you work a Monday to Friday week, you could all take it in turns to drive to and from work one day a week. As if by magic, you go from driving to and from work five days a week to one day a week. 10 journeys a week are slashed to just two. Your fuel costs are cut by 80%.

There is more to car sharing than just ride sharing. Our founder and CEO Jasmine Birtles got rid of her car three years ago, as she lives in the middle of town and rarely used it. However, if she does need a car from time to time, she borrows her friend’s car. Jasmine pays her friend £25 per day she uses her car and pays for the petrol she uses.

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