Understand that having your own transportation helps in easing the hassles of having to squeeze with the morning and evening crowds when you are getting to or off from work.
Okay, now you got your car and you are able to get to your destination with ease.
But the problem has just rise.
What problems? The terrible jams on the expressway, the ERP gantries, the parking fees and even finding that parking lot (super pissing if you are already late for a meet up).
Spoke to a driver regards to the above expenses incurred for driving.
Mr Salei - From Ang Mo Kio, travelling along the CTE all the way to Town, plainly for the ERP charges, it cost about $9 bucks and a little cheaper from town back to Ang Mo Kio.
And now, because of the increase in oil prices, owning and maintaining a personal vehicle is even tougher.
Drive Brand New Honda Jazz Car Loan - $600 Petrol - $300 Road Tax - $62.
50 ERP - Assume $14 to and fro per day for 5 days a week and 4 weeks - $280 Parking - $1.
60 per hour, $16 per day x 5 days x 4 weeks and total up to be about $320 per month.
Total expenses on Car alone - $1562.
50 The total expense does not include your travelling on weekends, maintenance and modifications (for your audio, lights and parts which may cost few to ten over thousands).
If you chose to turn to taking public transport - Bus, Mrt and occasionally Taxis.
You save on parking - $320 Car Loan - $600 Road Tax - $62.
50 Petrol - $300 Total Savings - $1,282.
50 per month And in a year you will be $15,390 richer.
Wow! (p/s: I have not minus the ERP charges because if we take occasion taxis during peak hours, the charges are incurred directly to us.
) But of course, if you have a big family and you need a transportation that can put your family members in it for outings, you may really want to keep it.
On the other hand, weigh your current expenses without your car, are you able to take on extra cost on top of your expenses? At the end of the day, would you be a able to still secure emergency cash for rainy days for you and your love ones.
It is very crucial for you to plan for adding new luxury in life, not just buying that car.
It is an expense and not a keep.
Total Expense On Car Alone -