The other day I received our monthly statement for the 407 ETR (toll highway). The amount due was $0.00. To put that number into context, over the last 14 months our average monthly bill has been $108.27. A bill of $0.00 may not be surprising, but it is an indicator of broader implications.
Over the last 63 days, since March 13th, the day we started our quarantine, we have driven 107 km. We usually drive 1,885 kms per month, so over this period we should have driven 3,893 km. Our fuel consumption is about 10 litres / 100 km. Statistics Canada reports that the average cost of regular unleaded gasoline in Toronto in 2019 was $1.164 / litre, so over this period we have saved $453 in fuel charges.
While our food expenses have remained about the same, other discretionary expenses, such as books, clothing, household items and restaurants, (but excluding tolls and fuel) have dropped to about 27% of our usual monthly spend.
While these reductions offer some awareness into how much one can cut back, they also give insight into the broader economic impact.
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