Live closer to work - MoneySense

Live closer to work

Traffic and long commutes take their toll. How much is your time worth?

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Many of underestimate the true cost of commuting, both in terms of stress and dollars.

Case in point: the Canadian Automobile Association calculates that a husband and wife can spend $140,000 over five years making the one-hour commute between Hamilton, Ont. and Toronto in separate Chevy Cavaliers.

Add to that the stress of sitting in traffic and the opportunity cost of spending less time with family and friends, and the higher cost of real estate in the city suddenly looks less disagreeable.

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