How Taking Transit Can Help Save Your New Year's Resolution
Using public transit frequently can cost much less than driving all the time.
Driving a car may cost more than you think!
By February, New Year’s resolutions are getting much harder to keep. Real life settles in and all those promises made to finally start saving money can feel a bit unrealistic. That’s why it’s important to set small, manageable goals. That way, as the new year goes on, so does your resolution.
There are lots of small, easy ways to start saving money. Start by changing the way you do one, simple thing. For instance, taking public transit rather than driving can reduce expenses in a number of surprising ways.
AAA estimates that the average cost per mile of driving a car is about $0.58. For a 20-mile round-trip commute by car, that works out to $11.60. Compared to that amount, taking public transit is often much less expensive. Gas money is the most obvious expense of owning a car, but there are quite a few other hidden costs to driving as well. For example:
- Do you have to pay for parking?
- How much time do you spend searching for parking?
- How much does your car insurance cost?
- What are your annual repairs and maintenance expenses?
- What are your yearly costs for license, registration, and taxes?
- How much does the value of your car depreciate every year?
- Are you paying finance charges on a car loan?
- Do you ever have to pay traffic tickets?
Public transit can become even more affordable with the purchase of passes, like these, which often offer monthly savings. Discounts are also frequently available to students and seniors. You can also use online cost calculators to work out your own unique savings.
Using public transit can contribute to saving money in even more subtle ways. For instance, it’s a lot harder to give into those impulse buys when you know you’ll be carrying everything home on the bus.
In many areas, public transit trips can take more time than the same trip by car. Unlike in a car, however, that time can be used for reading, relaxing, or working online. It could even be used for balancing your checkbook to see how much money you’ve saved. For more information about commuting to work on public transit, visit foothilltransit.org/commuterexpress.
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