The Hard Money Facts
On average, it takes around 45 minutes to commute from Calgary suburbs to downtown area during in mixed to high traffic conditions. That roughly covers 27 kilometers. Based on the Canada Revenue Agency estimates automobile expense at 53¢ per kilometer. This includes gas, car depreciation, maintenance and repairs.
Simple calculation will give you an average cost of $14.31, one way. Then you get side trips to pick up coffee in the morning and dinner, groceries and everything on your back home. So we can safely put $30 as your daily commuting expense.
Given that rate, your allowance for commuting should be $300.00 ($30 x 2 x 5 days) weekly, or $1,200 monthly or $7,560.00 annually. If you and your spouse are both commuting and driving different cars, your yearly household expense for commuting is $15,120.00
In as short as ten years, you will be spending $151,200.00.
No Small Allowance
Yes, the $30 or so change that you spend in your daily travel from home to work and back can add up to more than enough to buy several cars or for a huge down payment on a house.
Most 30 year old couples today, 10 years into adulthood, don't even have $151,000 in net worth. And they probably drive around quite a bit in expensive financed cars, mostly as part of self-imposed commute.
That expense computation can still go higher in more than one instance;
Fancy Cars - they are more expensive, thus depreciation, parts and repairs also cost higher. Financed Cars - you have to add interest expense on top of the costs. Traffic Congestions - the computation is based on normal rush hour conditions; it didn't include traffic jams, detours and breakdowns. Weekend Trips - extra trip to the city like weekend shopping, family ทาวน์เฮ้าส์มือสอง ราคาถูก Sunday outings and meet-ups are, well, extras. Time Value
And then there is the amount of time you'll be spending on the road. At the 45 minute baseline, that's 1.5 hours daily and 7.5 hours weekly. That is almost another workday. You'll be traveling 30 hours in a month or 360 hours in a year and a whopping 3,600 hours in ten years.
Converting that to workdays, that will be 1,8 work years of driving. Unless you like driving so much, you'd rather spend that time on grand holidays and vacations, family bonding, on a hobby, on entertainment or just plain relaxation.
Forgotten Things Matter
There other factors on commuting that people usually take for granted. People stay a lot safer when they walk to work, compared to those who commute. Accidents are always a possibility. You may take all the precaution, but you can say that other drivers do the same. Other uncontrollable factors include the weather, calamities, pollution and events could make driving dangerous.
Regular drivers are also more likely to suffer from fatigue, stress and frustrations. Running in late and being caught in traffic are usual causes of frustration. Constant exposure to stressful conditions could develop to more lasting health hazards like heart diseases, burnout and depression.
Consider Your Options
Owning a place in the city could eliminate all this problems. The higher cost of living in downtown Calgary is equitable to the travel expenses that you have to shell out. You can even save money by buying a home near your working place. Imagine spending one more hour in bed, instead of driving. Wouldn't it be nice if to drive for fun, instead of need? Put your money in real estate properties instead of spending it on the road. Spend your life living, not driving.
Money invested in real estate over ten years will appreciate or at least retain value unlike money invested in your car and cost of commute.
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