What does the word commute mean to you?
Some of us regularly spend 40 minutes every day just getting back and forth between work.
But with all this movement going on, what is the true cost of commuting?
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The Cost of Commuting
So what does it cost to commute?
The cost ofcommutingis primarily dependent upon the mode of transportation.
For example, driving yourself costs a lot more than taking public transportation (ideally).
Plus, it could take twice or three times as long.
So, most often whatever is the cheapest way to commute is often the costliest in time.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help… ## Driving Yourself
As an American, driving yourself is by far the No.
1 mode of commuting.
In fact, according toCensus data, over three-quarters of Americans drive to work.
Of that group, almost 70% drove alone.
So what does this average consist of?
To make it easier on yourself, you could also use a commute cost calculator, likethis one.
Different costs will differ state-to-state and possibly even town-to-town.
But how much does it cost to commute this way?
Well, that depends on where you live primarily and your time cost.
For example, lets useRTD Denvers fare cost.
Their regional pass costs $200 per month.
Unfortunately, they stopped providing data regarding bus fares more than 20 years ago in 2002.
However, the data does not include average costs.
Carpooling
According to the Census data, about 8% of Americans carpool to work.
But what does itcost to commute by carpool?
Every day you all will switch who drives their own car.
However, a lot of the cost of a car is pretty fixed day-to-day.
The time it would take, however, came out to about three hours total a day of biking.
Thatd be some great cardio, but probably a bit too much.
Along with those costs, you have to factor in the cost of your bike.
So lets assume youve bought a relatively good bike costing $1,000.
Lets say that maintenance comes out to only $20 a month on average.
That could become potentially cheaper per month as time goes on.
In2011 dollars, Mister Money Mustache estimated the cost of biking was about $0.10 per mile.
Thats an incredible amount of savings compared to driving a car alone, and a lot of extra exercise.
Walking
The holy grail of commuting iswalking.
Because it feels essentially free.
It costs mostly your time.
But are you going to take health insurance into account for your walk commute?
That doesnt seem right.
Do it’s crucial that you register your shoes to walk to work, or pay a toll?
No, hopefully not.
So, if we compare the cost of walking to a car, its almost free.
A decently fast walker can probably walk a mile in around 20 minutes.
So, it does limit the range of where you might work to only a few miles.
Dennis Lynch is a civil engineer turned freelance writer with a passion for personal finance.
you’re able to find Dennis over at colossicus.com between his freelance ventures.
(Can you sense my millennial sarcasm there?)
You know which ones were talking about: rent, utilities, cell phone bill, insurance, groceries…
