How to Save Money One More Time!
Image sourced by appshunter.io @appshunter
No sooner did we launch our blog post ‘8 Steps to Save Money by Buying Right!’, which you can grab right here did the Metropolitan Transit Authority (MTA) change the game.
For readers outside the New York City metro area, the MTA operates the Metro North and Long Island Railroad (LIRR) commuter railroads.
I guess the MTA was looking for ways to increase their revenue.
If you read Part 1 of this series, you recall that riders could purchase a 10-Trip Off-Peak Ticket via the TrainTime App for $83.00, generating a savings of $14.50 as compared to buying 10 one-way off-peak tickets.
At the end of the year, I expected the MTA to increase the fares by 50₵ or so.
In the holiday rush, I didn’t bother to purchase a new 10-Trip Off-Peak Ticket to lock in the savings of $14.50. I figured I would be just fine.
Silly me; I figured the MTA would continue offering the great deal on the 10-Trip Off-Peak Pass in the New Year.
No such luck. . .
Not only did the MTA raise the fare from $9.75 to $10.25, but also they Stopped Offering the 10-Trip Off-Peak Ticket altogether.
What’s more, they changed the game.
Now the MTA Requires riders to activate tickets they purchase via the TrainTime App BEFORE the train leaves the station.
Apparently, I ignored the two notices in the App that explained that riders have to activate online tickets App BEFORE the train leaves the station or face a surcharge.
My failure to activate the ticket BEFORE the train left the station cost me an $8 penalty.
OUCH!
I didn’t ask the MTA, but I assume they trigger the fee for buying a ticket onboard when the train is scheduled to leave the station – the scheduled departure time. Gotta love technology, wireless technology and Apps.
◊◊◊<§>◊◊◊<§>◊◊◊<§>◊◊◊<§>◊◊◊<§>◊◊◊<§>◊◊◊
Looking to build outrageous wealth and live your dream life?
The Secret is to create your personal spending plan. To multiply your wealth!
Click here!
◊◊◊<§>◊◊◊<§>◊◊◊<§>◊◊◊<§>◊◊◊<§>◊◊◊<§>◊◊◊
Grab these 12 steps to save money:
Get a handle on your usage habits.
Learn the available service offerings and product offerings and the pricing. Take note of the expiration dates.
Analysis is typically the key to saving money.
When you learn about an upcoming price increase, consider buying now to capture the savings – today’s pricing vs. the higher prices.
If you have credit card debt that carries a high interest rate, if you want to buy ahead of the price increase, most likely it’s more economical to pay with cash.
Select the product offerings and service offerings that match your usage and offer the best pricing for you.
Learn the ‘rules of the road’ regarding the pricing plan.
Monitor your usage.
Revisit your calculations and see if your original assumptions and expected usage match the cost of purchasing the item. Are you ahead of plan or behind plan? In other words, could you have spent less and saved more money?
Every so often, recheck the product offering, service offering and the pricing. Compare your current usage to the pricing plans. Are you still getting the best deal for yourself?
Modify your purchasing habits based on your new analysis to maximize your savings or optimize your savings!
Depending on the product or service, if your employer offers benefit programs, for example TransitChek where you can get discounts or save on income taxes, consider signing up. We explained more about TransitChek in Part 1 of this blog post series. When I was eligible to participate in TransitChek, I saved $1,000s over the years.
As my lawyer friend Paul says, “If you see me you on the train, keep walking.”
Just kidding!
But without fail, with MTA, be sure to activate your e-Ticket BEFORE the train leaves the station.
Have a great week and implement these action steps to save money and put money in your pockets!
Arthur VanDam
P.S. To Save More Money Every Day – click here.
Budget and Grow Rich® – ISSN: 2992-9296 – USA International Standard Serial Number (ISSN)
Disclaimer: OH and Please Remember, we are Not financial advisors, financial planners, attorneys or accountants and are Not providing any specific financial, tax, accounting or legal advice here. Be sure to conduct your own due diligence and consult your own professional advisors to get sound professional advice that’s specific to your financial and personal circumstances, risk tolerance, time horizon and investment goals and objectives among other key factors!
Take your Business, Career & Life to a New Level with this Experiential, Immersive Live Event FREE!
How to Make Money in your Spare Time Writing Letters.
How to Succeed and Achieve Your Dreams!
Tired of the rat race?
To Succeed even bigger, greater and stronger, 10X your success – click here.