How much commuting costs Americans
But the opportunity cost is the money lost by commuting instead of working. If a worker could spend an extra hour on the clock instead of in traffic, that lost hour of work is included in Lending Tree's analysis.
Like most things in America, commuting costs are very region-specific. People in Fremont, CA are expected to lose the most at $15,065 per year. The city that will fare the best is Tulsa, OK, only losing $3,255 per year. It seems coastal cities will lose the most money, while interior cities won't suffer as much.
Six ways to reduce your commuting costs
Ride a bike or scooter to work. In the past, riding a bike to work was often avoided because no one wants to show up to the office sweaty. With the advent of electric bicycles, you can get to the office sweat-free. Electric scooters are also an option worth considering.
Work some days remote. Granted, this will depend on your boss and your industry. But if you can negotiate a hybrid schedule where you have the right to work some days remotely, it can save on commuting costs.
Find a remote job. If your boss won't let you work remote, find a new boss. This is a new demand by many workers across the US. 40% of employees said they would consider quitting if forced to return to the office, according to Lending Tree.
Of course, not every American can avoid the commute. There will always be a need for trade professionals, teachers, and service workers. These industries do not have the benefit of remote work. For their sake, those who can stay off the road should try to find a way to do so.
And to ensure you always have the lowest rate, Jerry will send you new quotes every time your policy comes up for renewal, so you're always getting the coverage you want at the best price. This level of service is why Jerry earned a 4.6/5 rating on the App Store and made it the top insurance app in the country.