Next time you're sitting in traffic on the way to work, here's a happy thought to entertain you: You're probably overpaying for the privilege.
A new Citibank survey found that workers spend an average $2,600 on their commute. That's an average of $12 per day, they estimate, with some city residents shelling out more—in Los Angeles, for example, an average $16 daily.
Time is money, too, of course. While 2013 Census Bureau data put the average commute at 25.8 minutes, 8.4 percent of commuters routinely travel an hour or more each way. (That includes 6.4 percent of those driving alone, 10.5 percent who carpool and 36.5 percent of commuters taking public transportation.) The number of jobs within typical commuting distance for suburban residents fell 7 percent between 2000 to 2012, according to a 2015 Brookings Institute study, while city residents saw a 3 percent drop.
Easing the pain of a long commute doesn't have to require telecommuting or shifting work hours so you can avoid traffic jams. Check out the video above for some less-talked-about strategies to minimize costs, including programs that can significantly reduce tolls (from $14 to as low as $5.75 crossing New York City's George Washington Bridge, for example) and reward-point redemption options that benefit commuters.