The $125,000 Commute: Not as Uncommon as You’d Think

[Lunican]

The $125,000 Commute: Not as Uncommon as You’d Think

by Angie Schmitt

We know car commuting is expensive, more expensive than is commonly recognized. That’s because every time we get in the car, we’re not presented with a bill for gas, maintenance, insurance, lost productivity, etc.

Let’s say the tabulation was all there: the cost of your car commute. Maybe even included with mortgage paperwork, so everyone could understand the full costs of their housing decisions. Would people think twice about that large-lot beauty a few miles farther down the interstate?

Well, wonder no more. A personal finance blogger who goes by the name Mr. Money Mustache has done the math. Calculating at the federal reimbursement rate of 51 cents per mile, a car commute can get pricey fast. In fact, a 19-mile SOV car commute translates into $75,000 in costs for that commuter over 10 years, plus about 1.3 years of work time wasted in traffic. For a two-car household driving financed cars, that’s $125,000 and almost 3 years of potential working time wasted every decade.

Full Article:
http://streetsblog.net/2011/10/17/the-125000-commute-not-as-uncommon-as-youd-think/