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Money

Annual Travelcard, or Pay As You Go…

Just over seven years ago, I moved to London. Before that I had always had houses and jobs that I could either walk or drive between. Now though, I had to get the train every day, and also to pay for it. I started off paying for each journey from my Oyster card top up balance, but in January 2014, I realised that I was topping up a lot and that it might make more sense to get an annual travelcard. The main advantage of a travelcard being that all journeys within the chosen zones would essentially be free, so the more journeys made, the better the saving.

So why is that relevant? Well, I’ve kept a record of every journey I’ve made, and every January I compare how much I would have spent on pay as you go versus how much I paid for the travelcard (plus the extra journeys outside my travelcard zones). Unfortunately I no longer have the exact statistics for the first few years, but in 2017 I saved £246.50 (and I think a few of the earlier years were even bigger savings).

2017 Travelcard2017 PAYG
£1581.70£1828.20

Fast forward to 2018 and I moved house from zone 3 to zone 4. Now, not only was the travelcard cost more, but there were fewer transport options so I was less likely to use public transport. The calculations were more complex because I moved halfway through the year, but I think I ended up spending £96.40 extra by having a travelcard and not making the most of the journeys.

2018 Travelcard2018 PAYG
£1869.90£1773.50

For 2019, I decided to renew my travelcard. Yes, I had lost some money the previous year, but it was complex with moving house, and maybe I would make more journeys this year. And so, in January 2020 I calculated how much I had spent the previous year, and unfortunately found that I overspent by £234 by having a travelcard.

2019 Travelcard2019 PAYG
£2052.80£1818.80

In order to confirm my calculations (there’s daily and weekly PAYG capping I hadn’t taken into account), I decided to do a three month trial of using pay as you go (though obviously on contactless now, rather than having to top up an oyster card) until the end of April 2020. But then COVID and lockdowns came in, so my three month trial ended up becoming a one year trial. With an increased number of days working from home and less travel away from London, it should be clear that PAYG was going to win this year, but by how much? A couple of weeks ago I calculated my travel costs for 2020…

2020 Travelcard2020 PAYG
£2086.80£1354.30

With a £732.50 saving, PAYG was a clear winner for 2020. I imagine it will still be the best option for the rest of this year until things get back to normal again. I’ll review this again next January, but at the moment, I can’t see a travelcard being a sensible option for me, at least until I can make a lot more journeys.

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Discussion

Travel 2020

Having returned to work after my week off, I took in some biscuits as is customary after being away. Normally this is some sort of local delicacy from where you’ve been away to, but in this case, as I had been at home all week, it was just something from the supermarket on the way into the office. Anyway, it started a conversation with a colleague about how no-one has really been away at all this year, and particularly not overseas.

Looking back through my calendar for 2020, I’ve surprisingly been away for around 33 nights, which at 10% of the year seems very high. But the majority of those were in three distinct chunks with a large proportion of those nights being work related, and about a third were staying with family or friends.

But none of those trips have been overseas, in fact I’ve not even left England this year. By my estimation, I should have travelled abroad 5 or 6 times this year, both for work and for fun. My travel has fluctuated over recent years, with a spike in 2015 and last year where I managed 5 trips abroad spending 45 days out of the country (although mostly for work). This is the first year in a long time where I’ve not been out of the country (I can’t remember what happened prior to 2013).

Number of days abroad (solid bars). Number of trips (line)

There’s still over a month of 2020 left, but it’s highly unlikely that I’ll be travelling abroad this year at all. Hopefully things will be back to normal for 2021…