* PLUS AN EXTRA £10 OFF – SPECIAL OFFER FOR GRADUATE FOG READERS (code: GRADFOG) *
How much do you spend on travel to and from work every month? For many graduates – especially those who are interning or earning a low wage in London – the answer is simply: “Too much!” You regularly tell us you want to cut your travel costs as they are one of your biggest outgoings.
But experts say that thousands of graduates are in fact paying too much to travel to work and back, because they’re still buying weekly and monthly tickets.
Until now, the only way to make serious savings has been through buying an annual travelcard, which means shelling out thousands of pounds in one go (unless your employer runs a travelcard loan scheme). For most graduates – including those who are self-employed, interning, working for small companies, on a zero-hours contract or unable to plan that far ahead – the savings were simply out of reach.
Happily, there is now good news! Graduate Fog has buddied up with Commuter Club, a clever new payment plan which helps cash-strapped commuters to save hundreds of pounds on their travel costs. Graduate Fog readers using this link will also get an extra £10 discount on their first month’s travel costs (look for “GRADFOG -£10″ when you check out).
How does it work? Basically, you get 12 months’ travel for the price of 11. That’s not quite as cheap as if you paid for an annual travelcard yourself or with a loan from your employer (which works out as around 12 months for the price of 10). But it’s still a big saving on buying a monthly card if that’s what you’re doing at the moment.
The best news is that if your circumstances change, you can switch your plan or cancel it altogether – no problem. And if you go on holiday, you’ll still be saving. Graduate Fog doesn’t recommend just any old rubbish to our readers so to test out the scheme our website’s founder Tanya de Grunwald signed up to Commuter Club herself. Tanya says:
“Being self-employed and with an erratic income, I’ve never even considered buying an annual travelcard. It’s way too much money to cough up in one go.
“When I first looked into Commuter Club, I was worried I’d be paying for when I’m on holiday. But I’ve done the maths and it still works out as cheaper than buying monthlies and patching up any gaps with weeklies, which is what I was doing before.
“I’m really happy with my new card and it’s nice to know that at the end of the year I’ll have saved £130 for taking two minutes to sign up.”
The savings are considerable – and commuters needing a card to cover more zones will save the most. Commuters currently buying a monthly Zones 1 and 2 travelcard (like Tanya) will be £130 richer at the end of the year if they sign up to the Commuter Club payment plan. Those who need a 1-4 card will be £188 better off. Those buying a 1-6 card will save £239 annually, and those buying a 1-9 card will save £339 over a year.
PRESENTATIVE EXAMPLE: Zone 1-4 Annual (amount borrowed): £1844. Interest: £103 Total payable: £1947 in 11 monthly instalments of £177. Representative 14.0% APR. Interest rate: 5.6% pa (fixed)
* HOW MUCH COULD YOU SAVE? CLICK THIS LINK NOW TO FIND OUT
Don’t forget to get an extra £10 off your first month’s travel by using the code ‘GRADFOG’ at the checkout!
Thank you from Graduate Fog!
If you sign up to Commuter Club using this link and the ‘GRADFOG’ code, Graduate Fog will receive a thank you fee from Commuter Club, for introducing you to them. We hope you’re okay with that. The way we see it, everyone’s a winner!
Don’t forget to follow @GraduateFog on Twitter!