Published on June 4th, 2014 | by Christopher DeMorro9
Save $10,000 A Year By Not Driving A Car
June 4th, 2014 by Christopher DeMorro
Car ownership is expensive, even if you own a beat-up old jalopy, because they all use the same oil and fuel. High gas prices have turned many commuters into public transit believers, and those new converts are realizing big time savings. A report found that public transit users in 16 metro areas saved an average of more than $10,000 a year by not driving a car to work.
Based on the AAA 2013 cost-of-driving equation, along with the cost of an unreserved monthly downtown parking pass, the American Public Transit Association found that in many cities, commuters could save an average of $848 or more every month by not driving. This even factors in an unlimited monthly bus pass or equivalent pass for using local public transit.
Over the course of a year, that adds up to $10,000…by just not driving. While for some people this simply isn’t an option, many Americans in cities like New York and San Francisco have long shunned car ownership if they can help it. With the cost of living only rising in these places, owning a car has become a luxury that most can simply do without, which has led to record levels of ridership.
Just think of all the things you can do with $10,000 extra a year. Go on an amazing vacation, start an ambitious mid-life project, or maybe just invest in some Tesla stock. When it comes to dollars and cents, taking public transit makes a lot of sense.
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