Showing posts with label Money. Show all posts
Showing posts with label Money. Show all posts

15 May 2008

Crunching the Numbers: Bus vs Car

(Note: Apparently Blogger hates tables for some reason. I'll be back later to clean up the formatting. Damn that looks uuuuuuugly.)


Transportation. That's what I am thinking of. Would it be best for me to bus to work or drive to work? At my old job it was an easy decision with a free bus pass. Bus all the way. With my current job, it gets trickier. For one, there are two possible destinations: West & V.


Method

I am going to compare the two based on cost and total travel time. For the car, it will be simplified to gas cost. Even if I took the bus, I would still have to keep the car so the maintenance numbers would be roughly the same in both situations.


Assumptions



  • Gas costs 3.899/Gallon

  • Car mileage is 25 mpg

  • West distance is 9.5 miles

  • V distance is 18.1 miles

  • For the 31 day period, there are 23 working days


The Numbers









































West
Car CostBus CostCost DiffCar TimeBus TimeTime Diff
Day
$ 2.96

N/A

N/A

60 min

81 min

21 min

Month

$ 68.15

$ 47.00

$ 21.15

23 h

31.05 h

8.05 h
Year
$ 817.85

$ 564.00

$ 253.85

276 h

372.6 h

96.6 h

While the bus would take longer, I would save $21.15 a month at the cost of about 8 hours a month. Each hour I give up I save about $2.63.


The V location is a little different story. The 8.6 mile difference has a large impact on the car cost.










































V
Car CostBus CostCost DiffCar TimeBus TimeTime Diff
Day
$ 5.65

N/A

N/A

80 min

128 min

41 min

Month

$ 129.85

$ 47.00

$ 82.85

30 2/3 h

49 h

18.4 h
Year
$ 1558.23

$ 564.00

$ 994.23

368 h

558.8 h

220.8 h

In this scenario, we see a lot more savings. I would save $82.85 a month at the cost of about 18.4 hours a month. Each hour I give up I save about $4.50.


Conclusion


The bus does cost less, but at the cost of more time. I could probably do more things to save the $2.62 per hour exchanged. The V location makes it a bit sweeter of a deal on the bus vs. car. Overall, I might start checking out the bus if gas costs get higher. This is only estimated at the current gas rates. If they go higher, the bus gets sweeter and sweeter. If the evilness of $5 per gallon comes near the end of the summer like some predict, the picture changes drastically. Under $5 a gallon gas, I save $40.40 a month (almost covering the cost of the 31 day bus pass) to West at $5.02 per extra travel hour and a whopping $119.52 a month going to V at $6.50 per extra travel hour. If I were to work at V (which I will be at some point in the distance future), it would cost me $7.24 a day just to get to work. Not a pretty picture.


So the bus will probably be coming into the picture soon. It would be good to get into the habit now when I am at West as the savings at V will be nice.


It would be even better if I could bike to West. Though that would just be a good weather thing and I would need to get my lazy ass in shape. I'll save that for another musing later.

08 April 2008

Prices Going Up

Along with gas prices going up, looks like my health care costs are going up again by a loving 17%. Since our health programs don't have a employee/spouse plan, I have to go for the family plan at more than 6 times the cost of the personal plan. Now with the family price increase (I think the employee only price might have actually dropped nope, they did go up but by 8%), I am getting boned even more on that benefit. It's a good plan, but the folks who are just employee and spouse get the short end of the stick. If they did have a employee/spouse program at about 2.5 times the personal plan cost, it could save us almost $2k a year.


At least with rising gas prices, there are things I can do to offset that by driving conservatively or getting a more efficient vehicle if prices get out there. There's balls I can do about this price increase which just bugs me even more.