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Time Value of Money: How to Determine the Value of Money with Respect to Time

Money received today is more valuable than the same amount of money a year from now. It is essential to understand the relation between mone...

Real Cost of Owning a Vehicle


Most first time car owners neglect to anticipate the other expenses that comes with owning a car. Asides from your monthly amortization, you need to consider the cost of using and maintaining your vehicle. Some of these expenses costs an arm and a leg and will wreak havoc in your budget if you fail to prepare for it. Let us examine the expenses that are commonly over looked or under estimated by first time car owners.


Fuel


Fuel is one of the recurring expenses you will incur using your vehicle. The several factors that affect fuel consumption of a vehicle are engine displacement, weight of vehicle and engine type. Driving conditions, the style of driving and proper maintenance of the vehicle.

FUEL COST COMPUTATION
AVERAGE FUEL CONSUMPTION OF VEHICLE 8 Km/L
AVERAGE DISTANCE TRAVELED PER DAY 40 Km
AVERAGE PRICE OF GASOLINE Php 45 Per Liter
DAILY COST OF FUEL Php225.00
ANNUAL COST OF FUEL Php82,125.00



*BASED ON MY CARS AVERAGE FUEL CONSUMPTION (CITY DRIVING)

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