Today’s experiment in finance is going to look at a different angle at one of our greatest expenses. This expense is transportation. Most of us spend a huge chunk of our income on transportation. This includes getting to work, visiting friends, running errands, and living everyday life. The problem is that we sometimes spend far too much money on cars. Some of us are in the negatives because of the high costs of running our cars.
Here’s a quick story on spending money on a car…
A buddy of mine decided that the best way to pick up girls would be to buy a BMW. He took the little savings that he had and he spent it on a BMW. He got the car up and running and it was nice to drive around in a BMW. He then suddenly realized it wasn’t so glamorous because the cost of gas had gone up. The cost of maintenance and parts for a BMW was also much higher than he anticipated. He only used this car to go to work and the gym, both which were very close to him. In the long run, he spent all of his income on this car and found it impossible to get ahead financially.
How do you save money by taking public transit?
In my city it costs you $3.00 one way to get around. You can also buy a monthly unlimited pass and travel as much as you want with it. Think about how much money you’ll save on maintenance, parking, gas, insurance, and car payments.
Have I ever saved money by taking the bus?
I spent my college years living on the bus. My school was one hour each way for me and believe me that was a long hour at times. The good news is that we’re in the era of smart phones. I would get so much done on the way to school. I also got most of my studying done on the bus. I don’t know what I would’ve done without my last minute studying.
Is it worth saving money by getting around with public transportation?
Just like with any other financial experiment there are the obvious caveats here. For one, the bus will take you much longer to get around. The other issue is convenience. You can’t put a price on the convenience of driving depending on where you live. Where my girlfriend lives it’s impossible to get around without a car. Riding the bus isn’t always the best option. For me it was for those four years of college.
Will you take the bus? Will you try to save money by using the public transportation in your city?
***************************************************
Look Good at Work and Become Indispensable Become an Excel Pro and Impress Your Boss
***************************************************
