Wednesday, May 6, 2009
Considering Actual Costs
As I said in February of 2008...
...According to that last website, my wife and I are spending a little under $7,000/year for our car [which is about the average in the US].
Let me go ahead and say $7,000 for the purpose of my following illustration.
Now, if we work 250 days (5 day workweek x 50 weeks) a year, that means we're paying $28/work day for owning a car (7000/250). That means, if you make $9/hour, you have to work 3 hours every day to pay for that car. If you make $14/hour, you're working 1 1/2 hours to pay for it.
I bring this up because I want to make the case for walking/biking/busing places instead of driving. Some people look at me and say, "You're spending 1 1/2 hours each day walking to work and back home! That's great if you can work it out, but how do you have the time to do so??!!"
The answer is, because I'm not working 1 1/2-2 hours to pay for a car. In fact, by the time you figure that if I drove, I'd be spending at least 1/2 hour to get to and from work, then I'm coming out with at least 1/2 hour MORE free time than the person in my situation who drives. More still, if that person also later drives to a gym (where they pay MORE money) to exercise...
More to come...