Thecost of driving
Thecost of driving
A)What are your fixed monthly car expenses?
Themonthly fixed expenses on my car are insurance and maintenance cost.The insurance cost is $150 and maintenance averages about $90 amonth.
B)What are the variable monthly car expenses?
Thetotal costs of variable expenses add up to $160.
C)Whatis your total cost per month?
150+90+160=$400
D)Approximatelyhow many miles do you do in a month?
500milesper month
E)Divide C by D to figure your cost per mile
400/500=$0.8 per mile
F)What changes might you make to save money on your total car expenses?
Iuse my car on a daily basis to move around the city. If I can get tobuy a bicycle and use it to move around places in the city, I willcut on costs. The use of a bicycle will cut my costs by 2/5 ifeffectively used.