Rail fare hike: 7 foolproof tips to help you save money on your train travel | Personal Finance | Finance

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Train tickets have now grown in value by 3.8 percent, adding further pressure to the cost of living crisis for UK residents. The figure represents the biggest price hike since 2013, and will cover around half of all tickets – including season passes on most commuter routes. Residents travelling all year round by train will now have to pay hundreds more on expenses, but there are some ways you can save a few pennies.

1) Split your tickets

Many commuters won’t be familiar with the term ‘split ticketing’, but it can help to save up to 40 percent on your train tickets.

It involves you buying two separate tickets for the same train journey.

If you were getting a rail service from Southampton to London Waterloo, you could buy one ticket to Basingstoke and then another which takes you from that station to London Waterloo.

You’ll stay on the same train, in the same seat, but could save a significant chunk of money.

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6) Set-up a season ticket through your work

Commuters would likely benefit from upgrading to a season ticket.

Ms Fox said: “Annual season tickets represent the best value for money but come with a hefty up-front cost.

“If you can’t afford this, speak to your employer about whether they run a season ticket scheme.”

Season ticket loan schemes involve your employer buying your ticket for you, and you then pay for it gradually through your wages each month.

Employer schemes like this don’t usually count as a type of credit, because the money is taken as a deduction from your wages before they hit your account.

7) Check out the Commuter Club

If your employer won’t offer a season ticket scheme, or if you don’t commute for work, there are still other options, such as the Commuter Club.

Ms Fox said: “This enables you to benefit from the cheaper daily cost that comes with an annual season ticket, while paying monthly to avoid a huge initial outlay.

“Commuter Club is, however, a type of credit with fees payable and will be recorded on your credit report – so make sure that you never miss a payment.”

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