1921: [Part 1] The True Cost of Commuting by Mr. Money Mustache on Calculating the Costs of Daily Travel and Gas Prices

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🗓️ 11 June 2022

⏱️ 8 minutes

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Summary

Mr. Money Mustache discusses the true cost of commuting. This is part 1 of 2. Episode 1921: [Part 1] The True Cost of Commuting by Mr. Money Mustache on Calculating the Costs of Daily Travel and Gas Prices Mr. Money Mustache is a thirty-something retiree who now writes about how we can all live a frugal, yet awesome, life of leisure. He and his wife studied engineering and computer science in Canada, then worked in standard tech-industry cubicle jobs in various locations throughout the late ’90s and early 2000s. Then they retired from real work way back in 2005 in order to start a family. This was achieved not through luck or amazing skill, but simply by living a lifestyle about 50% less expensive than most of their peers and investing the surplus in very boring conservative Vanguard index funds and a rental house or two. The original post is located here: https://www.mrmoneymustache.com/2011/10/06/the-true-cost-of-commuting/ Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Optimal Finance Daily Episode 1921, the true cost of commuting Part 1 by MrMoneyMustache
0:08.8	of MrMoneyMustache.com. And I'm your host and personal finance enthusiast, Diana Mariam.
0:15.7	I have a bit of a longer post, so I'll read the first half today and then finish the rest for you
0:21.4	tomorrow. So with that, let's dive into Part 1 and start optimizing your life.
0:30.3	The true cost of commuting Part 1 by MrMoneyMustache of MrMoneyMustache.com.
0:39.3	It was a beautiful evening in my neighborhood and I was enjoying one of my giant home brews on a
0:45.2	deck chair I had placed in the middle of the street as part of a nearby blocks annual street party.
0:51.9	I was talking to a couple I had just met and the topic turned to the beauty of the neighborhood.
0:57.9	Wow, I didn't even realize this area was here, the guy said.
1:02.0	It's beautiful and old and the trees are giant and all of the families hang out together
1:06.8	outside as if it were still 1950. Yeah, said his wife, we should really move here.
1:14.0	Then the discussion turned to the comparatively affordable housing and the other benefits of living
1:20.0	in my particular town. By the end of it, these people were verbally working out the details of
1:25.7	a potential move within just a few months. Except their plan was absurd. Because these two
1:33.2	full-time professional workers currently happen to live and work in Broomefield, a city that's about
1:39.5	19 miles and 40 minutes of high traffic driving away from here. They brushed off the potential commute,
1:47.0	saying, oh, 40 minutes, that's not too bad. Yes, actually it is too bad. But this misconception
1:55.2	about what's a reasonable commute is probably the biggest thing that's keeping most people
2:00.1	in the US and Canada poor. Let's take a typical day's drive for this self-destructive couple.
2:07.4	Adding 38 miles of round-trip driving at the IRS's estimate of total driving cost of 51 cents per
2:15.2	mile, there's $19 per day of direct driving and car ownership costs. It's possible to drive
2:22.7	for less, but these people happen to have fairly new cars bought on credit, so they're wasting
	...

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