How to Calculate the Cost of Working
Evaluate the cost of a commuter pass or ticket., Think of the hours spent commuting., Measure how many miles you drive to work., Assess the cost of fuel and your car’s average miles per gallon., Consider the cost of parking., Calculate your annual...
Step-by-Step Guide
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Step 1: Evaluate the cost of a commuter pass or ticket.
If you commute to work via train, bus, or tram, include the cost of the pass or ticket into your calculations.
Some forms of public transportation have a flat fee per ride, while others charge a little less if your purchase a monthly pass.
These costs can vary depending on your location.
A monthly pass for the subway system in Boston, for example, costs $84.50 each month, or just over $1,000 every year.A monthly bus pass in Savannah, on the other hand, costs $50, or $600 annually., Whether you drive to work, take the subway, or walk, the time spent commuting should be included in your calculations to discover the cost of working.
Even if your company only pays for 40 hours of work each week, you still spend additional time commuting to your job.If your commute is one hour each way, you will average 10 hours of commuting every week.
This will mean that you are devoting 50 hours each work to your job.
If your base salary is $60,000, you may calculate that you earn $30 every hour if you work 40 hours each week.
If your commute adds an extra 10 hours each week, you are really working 50 hours each week, which will decrease your hourly wage to $23. , If you drive to work, you will need to consider how many miles you spend driving to and from work.
The number of miles you drive each day will affect the cost of your car maintenance.
Services can include changing the oil, rotating or changing the tires, replacing a battery, and changing transmission oil.The cost of a full service varies depending on your vehicle type and your location, but it can cost around $245 each visit.If your office is 25 miles away, you will drive at least 50 miles in one day.
You will average at least 200 miles for each five-day work week, or 1,000 miles each month.
Mechanics will typically suggest that you should have your car serviced and have the oil changed every 5,000 miles or every three months—whichever comes first.
If you drive 50 miles each day, you will need to have your car serviced at least four times each year, which can cost almost $1,000 each year. , The cost of gas and the average distance your car makes on a gallon of gas should be considered.
In 2016, the average cost of regular gas per gallon was $2.14.If your car has a 15-gallon tank, it can cost about $32 to fill-up your car.
If you fill-up your car twice each month, that can cost you almost $800 in fuel each year.
A sport utility vehicle in the U.S. may earn 18 to 26 miles per gallon, while a smaller fuel-efficient car may get 40 miles per gallon.An S.U.V. with a 20-gallon tank that gets 20 miles per gallon can go 400 miles on one tank of gas, while a fuel-efficient car with the same sized tank may get 800 miles.
If you travel 1,000 miles each month going to work, you will need to fill-up your S.U.V.
2.5 times, while a smaller car will only need to be filled up
1.25 times. , If you do not have free parking at your work, you will need to think about how much money you spend each month on parking.
Consider the cost of your monthly parking permit, or think about how much you spend at a parking meter every day to determine the cost of parking.
If you have to pay a daily parking meter that costs $1 an hour, you will be paying $8 for an average working day, which can total almost $2,000 every year.
Perhaps there is a parking building near your employer’s office.
If the monthly parking fee is $80 every month, you will need to budget $960 annually. , The cost of commuting to and from work can add up quickly when you consider the cost of car upkeep, parking, or a monthly commuter pass.
If you drive to work and spent $800 on fuel, $960 on a parking permit, and $980 on basic car maintenance, your annual cost of commuting will total $2,740. -
Step 2: Think of the hours spent commuting.
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Step 3: Measure how many miles you drive to work.
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Step 4: Assess the cost of fuel and your car’s average miles per gallon.
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Step 5: Consider the cost of parking.
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Step 6: Calculate your annual commuting expenses.
Detailed Guide
If you commute to work via train, bus, or tram, include the cost of the pass or ticket into your calculations.
Some forms of public transportation have a flat fee per ride, while others charge a little less if your purchase a monthly pass.
These costs can vary depending on your location.
A monthly pass for the subway system in Boston, for example, costs $84.50 each month, or just over $1,000 every year.A monthly bus pass in Savannah, on the other hand, costs $50, or $600 annually., Whether you drive to work, take the subway, or walk, the time spent commuting should be included in your calculations to discover the cost of working.
Even if your company only pays for 40 hours of work each week, you still spend additional time commuting to your job.If your commute is one hour each way, you will average 10 hours of commuting every week.
This will mean that you are devoting 50 hours each work to your job.
If your base salary is $60,000, you may calculate that you earn $30 every hour if you work 40 hours each week.
If your commute adds an extra 10 hours each week, you are really working 50 hours each week, which will decrease your hourly wage to $23. , If you drive to work, you will need to consider how many miles you spend driving to and from work.
The number of miles you drive each day will affect the cost of your car maintenance.
Services can include changing the oil, rotating or changing the tires, replacing a battery, and changing transmission oil.The cost of a full service varies depending on your vehicle type and your location, but it can cost around $245 each visit.If your office is 25 miles away, you will drive at least 50 miles in one day.
You will average at least 200 miles for each five-day work week, or 1,000 miles each month.
Mechanics will typically suggest that you should have your car serviced and have the oil changed every 5,000 miles or every three months—whichever comes first.
If you drive 50 miles each day, you will need to have your car serviced at least four times each year, which can cost almost $1,000 each year. , The cost of gas and the average distance your car makes on a gallon of gas should be considered.
In 2016, the average cost of regular gas per gallon was $2.14.If your car has a 15-gallon tank, it can cost about $32 to fill-up your car.
If you fill-up your car twice each month, that can cost you almost $800 in fuel each year.
A sport utility vehicle in the U.S. may earn 18 to 26 miles per gallon, while a smaller fuel-efficient car may get 40 miles per gallon.An S.U.V. with a 20-gallon tank that gets 20 miles per gallon can go 400 miles on one tank of gas, while a fuel-efficient car with the same sized tank may get 800 miles.
If you travel 1,000 miles each month going to work, you will need to fill-up your S.U.V.
2.5 times, while a smaller car will only need to be filled up
1.25 times. , If you do not have free parking at your work, you will need to think about how much money you spend each month on parking.
Consider the cost of your monthly parking permit, or think about how much you spend at a parking meter every day to determine the cost of parking.
If you have to pay a daily parking meter that costs $1 an hour, you will be paying $8 for an average working day, which can total almost $2,000 every year.
Perhaps there is a parking building near your employer’s office.
If the monthly parking fee is $80 every month, you will need to budget $960 annually. , The cost of commuting to and from work can add up quickly when you consider the cost of car upkeep, parking, or a monthly commuter pass.
If you drive to work and spent $800 on fuel, $960 on a parking permit, and $980 on basic car maintenance, your annual cost of commuting will total $2,740.
About the Author
Brittany Hayes
Writer and educator with a focus on practical organization knowledge.
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