The Australasian Railway Association has been hard at work to see how you could be better using your hard-earned cash, and they’ve returned some pretty interesting results. According to a national review they completed last week, if Australians were to ditch their cars in favour of public transport, they could be looking to save an average of around $9,973 per year.
Pretty substantial savings, so how exactly did they come to such a conclusion? Their workings are based on calculating the annual cost of commuting by car to and from work against how much it would cost to use public transport instead. They’ve taken into considerations all the fun little money burners that owning and using a car provides, like the cost of petrol, parking, insurance, and all the rest.
Obviously it’s hard to put a blanket rule over the whole of Australia with public transport costs being different per state or territory, which is why the residents in Brisbane and Melbourne are said to be able to enjoy the most savings if they decide to sell their car. The problem then lies in convenience, and obviously a lot of commuters find it easier to jump in their vehicle every morning rather than waiting around for a bus or train.
But can you put a monetary value on convenience? With the potential to save $10,000 a year, it could be worth figuring out…