Now that we are in the midst of a bad economy, it is crucial to calculate our every expense -- especially for our daily mode of transportation. Many young families or young adult might be thinking about whether it is cheaper to own your own transport, take public transport. Here we do the calculation for you.
Cost of grab for a year:
Basic cost of grab -- let's say one trip is about $30 average.
To and fro work - a day will be $60
One year will be: $21,600
Cost of Public Car for a year:
By owning your own car, you need to take these cost into consideration:
cost of car -- The cheapest car currently is the Perodua Bezza 1.3 Premium X (Automatic), but the price has gone up slightly to $62,800.
road tax -- For the Perodua Bezza, the road tax payable is $584 per, amounting to $584 for a year.
petrol --Assuming an average of 40km/day, clocking you 1,200km/mth.
Currently, the cheapest petrol price is about $2.21 per litre, which brings you to $176.80 per month.
parking -- It’ll cost you $110/mth for residential season parking from HDB and given the scenario that you work in CBD, about $200/mth for season parking from URA.
ERP -- Accounting for daily commute to CBD for work and trips to town on weekends, you can potentially pay up to $180/mth.
Total cost for a year:
Without adding in the remaining costs, just doing the math itself, owning a car is way so much higher than taking public hire such as grab. That is why owning a car in Singapore can be a luxurious posession.
Cost of Public Transport for a year:
The best way to save cost would definitely be taking the public transport. Yes it might not be the most comfortable way of travelling as compared to the prior two options -- however it is the most efficient when it comes to saving cost.
A table below reflects the cost of public transport:
The Adult Monthly Travel Pass (AMTP) is the only transport concession pass available for adults. Similar to the undergraduate concession pass, it grants unlimited travel on basic bus and train services. The main difference is that it costs $128 a month.
This means it only cost: $1,536 a year!
Even if you take a few more times of train or busses, it will not be pricier than private hire or car!
Now you've got the answer, and in this period, it is wise to plan your finances wisely and save up!