Time In Traffic Generates Unexpected Financial Loss

Time In Traffic Generates Unexpected Financial Loss

Last Updated February 5, 2020

Don’t waste your hard earned money by spending your commute stuck in traffic. Instead, utilize public transportation and save your car for your days off or your errands outside of normal rush hour traffic. You’ll save money, you’ll save wear and tear on your car and you’ll find that you won’t dread driving nearly as much as you do now! Check out the infographic below on how it all works!

[click the infographic below]

Spending Time In Traffic

How Many Cars Are Registered In Each State?

For this, we’re looking at the 10 most populated states in the country. How many cars do they have registered per state?

California comes in at the top of the list with an estimated population of more than 39 million individuals, and 14.46 million cars registered. Texas comes in second with 28 million citizens and 8.45 million registered cars.

The rest of the states on the list include:

  • Florida with 20 million citizens and 7.74 million registered cars
  • New York with 19 million citizens and 4.87 million registered cars
  • Illinois with 12 million citizens and 4.78 million registered cars
  • Ohio with 11 million citizens and 4.74 million registered cars
  • Pennsylvania with 13 million citizens and 4.68 million registered cars
  • Georgia with 10 million citizens and 3.52 million registered cars
  • North Carolina with 10 million citizens and 3.44 million registered cars
  • Michigan with 9.9 million citizens and 3.38 million registered cars.

These states also have some of the worst commute times in the country, meaning people spend even more time in their cars.

Economic Cost Per State

How much does it cost each state to have all these cars on the road at any given time?

In total, it costs upwards of $62.04 billion. New York comes in the top of the list this time, spending $17.23 billion on commuting. California comes in second, spending $16.02 billion. The two of them alone make up more than 50 percent of the economic cost of traffic. Texas comes in next, at $7.16 billion. Florida and Illinois both spend upwards of $5 billion and everyone else on the list is at $3 billion or below.

Vehicle Count by State

You’d think the most populated states would have the most cars per 1,000 people, but it’s not the case. There are actually significantly fewer cars per 1,000 people in the more populated states than there are in those with a smaller population.

Missouri, for example, has just shy of 1,600 cars per 1,000 people. Wyoming has more than 1,400 cars per 1,000 drivers. California, on the other hand, which has the highest numbers of registered cars, only has around 750 cars per 1,000 people. New York has even fewer, with barely 500 cars per 1,000 drivers.

Total Cost Per Driver by State

How much money does each driver waste while stuck in traffic every year? The average cost, collectively, hits just over $50,000, but how does that break down by state?

Again, California is in the lead with just shy of $19,000, nearly three times the amount of its nearest competitor. Drivers in Texas and Florida both lose more than $6,000 annually being stuck in traffic.

New York and Pennsylvania drivers both spend more than $3,000. North Carolina, Michigan, Ohio and Illinois all spend more than $2,000 a year. Of the states listed, Georgia is the only one that wastes less than $2,000 a year, but that’s still more than the majority of the states in the country.

Make the Most of Your Money

What can you do to help make the most out of your money when it comes to your daily commute? The individual cost of your travel will vary depending on the type of travel, but in general, you can expect commuting to cost roughly $13 an hour.  Business travel is nearly twice that at $25.19 an hour — largely due to the fact that business travel often includes air travel — and leisure and errands will cost roughly $9.51 an hour.

How can you cut these costs?

  • Opt for public transportation — by choosing to utilize available public transportation, the cost of the commute is transferred from you to the transportation company.
  • Use public transportation during peak travel times — don’t get stuck in your car in a gridlock during rush hour. Opt for public transport instead.
  • Save your car for leisurely trips and running errands — It’s much easier to plan your trips or run your errands outside of peak travel times. Don’t go grocery shopping during rush hour and you’ll be fine. Besides, no one wants to worry about their ice cream melting when they get stuck in traffic.

Just how much money can you save by avoiding driving during peak travel times?

Drivers in Los Angeles, for example, can save more than $1,300 a year, based on traffic and congestion models. NYC drivers can save more than $1,100 a year and Miami drivers are raking in an additional $800 in saved costs.

Sources: AAA Newsroom | Wikipedia

Time In Traffic Generates Unexpected Financial Loss

The average American spends roughly 17,600 minutes behind the wheel of their car every year, so it’s no surprise that the time spent in traffic costs money. The top 10 states with the highest population in the United States also have the most registered vehicles in the country. How much financial loss do these states experience and is there anything you can do to save money?

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