How commuting can affect your finances
- Daily commutes can add up in terms of cost and wear and tear to your car.
- If you drive to work, you might want to consider driving a car that is fuel efficient and reliable over a car that is more aesthetically pleasing.
- There are ways you may be able to save on your commute, including carpooling and driving responsibly.
Maybe it’s a long, leisurely drive or a start-and-stop, congested route through the city—no matter what kind of commute you have, it can cost money and time. Let’s review some of the financial impacts commuting can have and ways to help you save.
Understanding the financial impact of commuting
Commutes to work, whether long or short, add up over time. A few main factors that come into play when thinking about the financial impact of commuting include, but are not limited to:
- Cost of public transportation and time spent monitoring schedules
- Prices of gas and fueling up your car
- Cost of tolls and parking
- Vehicle maintenance
- Cost of purchasing a vehicle
Commuting every day can quietly dip into your budget if you don’t keep a close eye on your spending. That’s why you may want to consider including the cost of commuting as part of your monthly budget.
The impact of commuting on your car
Commutes affect not only your finances but also contribute to the wear and tear on your car. Depending on the route you take (for example, highways or city roads), how long your commute is, environmental factors and your driving style, your car may be subject to different types of damage over time. These can include, but are not limited to:
- Brake system maintenance: Daily commuting, especially in heavy traffic, can lead to frequent braking, which wears down brake pads and rotors. Regular inspections and replacements are necessary to maintain safety and performance.
- Tire replacement and rotation: Tires wear down over time; daily commuting can accelerate this process. Tire rotations can help ensure even wear, while timely replacements can prevent blowouts or flats.
- Oil changes: Regular oil changes are important for the health of your car's engine. Commuting daily, especially for long distances, can lead to more frequent oil changes.
- Battery checks and replacements: Daily start-and-stop driving can put strain on your car's battery. Regular checks can help identify when a replacement is needed before the battery fails.
- Transmission service: If your commute involves a lot of stop-and-go traffic, this can put extra strain on your transmission. Regular service can help prevent costly repairs down the line.
- Exhaust system repairs: Daily commuting can lead to increased wear and tear on your car's exhaust system, potentially leading to leaks that need to be repaired.
- Cooling system maintenance: Regular checks of the coolant level and the overall health of the cooling system can prevent overheating, especially if your commute involves long periods of idling or slow-moving traffic.
Note that over time, all of these factors contribute to faster depreciation of the vehicle. It can also lead to more maintenance costs such as emergency repairs if you don’t properly monitor your car and make adjustments as needed.
Finding the right commuter car
If you know you’ll be commuting almost daily to work, you want to consider finding a commuter car that is fuel-efficient, reliable and comfortable for long drives.
When looking for a commuter car, consider the following:
- Shop for reliability rather than aesthetics—although sometimes a car can offer both
- Prioritize cars that have good fuel efficiency. For example, some cars can travel the same distance with less gas compared to other vehicles.
- If you’re going hybrid or electric, think about the route you take and if there are charging stations available.
- Research the cars you’re interested in and compare reviews as they might provide insight into the car’s maintenance and costs.
Tips to save on your commute
Commuting adds up in cost over time, so let’s review some ways to help you save:
- Take public transit: Commuting by car may be necessary depending on where you live and work, but if it’s an option, public transportation (or walking or bike riding) can be much less expensive than owning and maintaining a car.
- Operate your car efficiently. Do your best to avoid any habits like leaving your car battery on for too long, which can lead to more frequent replacements or repairs.
- Take notice of how you drive: The way you drive your car can impact its overall health and performance. If you’re someone who hits the brakes hard and drives more recklessly, then you may find yourself paying more for repairs more often. Changing your driving habits may help protect your car from costly repairs.
- Consider carpooling:If you know someone who works at your location or near it, it could be beneficial to carpool. Splitting up the drives can help lower the cost of gas and maintenance  as well as lower the amount of miles you put on your car (and potentially slow down depreciation).
In conclusion
Commuting to work is a part of many people’s daily lives, and it often comes with a cost. By making well-researched decisions about your commuter car, managing your budget effectively and considering alternative travel methods, you can help lower the cost of commuting.Â
