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What is my actual cost of commute?

What is my actual cost of commute?

To find the actual travel cost visit https://mrt.sg/fare. Key in from place and to place and you will get to know the cost of travel? But the question is, is that your actual cost of commute?

 

Most ignore the time they spend for travel and never assign any weightage to it! Let’s consider this scenario about 2 rooms that are available, assuming both rooms have same facilities and furnishing, just the locations are different!

Room 1 : Near Upper Changi MRT – Rent – 900$ – Commute – 46 mins – cost 24$ approximately per month.

Room 2 : Near Novena MRT – Rent 1100$ – Commute – 15 mins – cost 36$ approximately per month.

Room 1: Total cost/month – 900 + 24 = 924$ & travel for 46 min one way

Room 2: Total cost/month – 1100 + 36 = 1136$ & travel for 15 mins one way

Given this scenario, from my personally experience, I have seen most tenants, who choose our co-living space opt for Room 1, because they get to save 212$ every single month! However, if the choice is Room 2, then one can save 31 mins one way, approximately 1 HR/ day! (22 working days so 22 hours)

With extra 1 hour a day… what can you do more?

  1. Sleep little extra (either wake late or sleep early)
  2. Eat a decent breakfast or cook your own dinner!
  3. Exercise or
  4. Meditate or
  5. Spend more time talking to your family!

How much value do you want to assign to this 1 hour in terms of dollars? I leave it to you to come up with a value, so you can find the actual cost of commuting!

Is 212$ saving equals 22 hours per month?

For me it is a big NO! I will choose a place closer to my work, and pay a little extra than paying less rent and commuting for long duration.

What are your thoughts?

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