Cost of Sitting in Traffic: Wasting Not Only Time, But Money

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city scape
We are not always so lucky to have such open roads as the one pictured here. Learn the cost of sitting in traffic below and find out why it’s probably not going to improve any time soon

We hate to be the bearer of bad news, but think about this the next time you’re stuck in traffic: sitting in traffic isn’t only eating up your time, it’s also munching away at your hard-earned dollars, too. AOL Autos reports that a new study conducted by the Centre for Economics and Business Research and traffic data company Inrix claims to be the first study to assess the “economic and environmental costs of traffic.” The findings are as infuriating as the act of sitting in traffic itself.

Cumulatively, between 2013 and 2030, the study reports that traffic congestion could cost the U.S. as much as $2.8 trillion. In 2013 alone, Americans wasted $124 billion – averaging $1,700 per household. In 2013, the average driver sat in 65 hours of traffic. How’s that for depressing?  By 2030, that figure is predicted to skyrocket about 50 percent to $186 billion wasted annually in traffic.

These wasted funds are attributed to a number of factors: direct factors include lost productivity, fuel, and wasted time, while indirect factors like the increased cost of goods that are being transported as a result of traffic congestion were also considered.

While many studies suggest that as many as 30 million more vehicles will make their way to our roadways by 2030, it is important to also to consider driverless cars, which may drastically reduce traffic accidents, more fuel efficient transportation options for goods, and younger drivers looking for alternate forms of transportation may ease the costs associated with worsening traffic.

Only time will tell what the cost of sitting in traffic in 2030 will be, but for now we just have to suck it up, turn on a good audio book or ballgame on the radio, and make the best of being held captive in our cars.

Finding yourself stuck in a car you love just may help ease the pain. Stop by Hatfield Buick GMC to find a car that is comfortable, connected, and fuel efficient to ease the frustration of your daily commute.

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