Cost of annual versus a series of five-week season tickets

[tannedfrog]

Let's say someone intends to commute within the London zones 1 - 6.

How much more expensive would it be to buy a series of five-week Travelcards than one annual Travelcard on 31 Dec 2011?

Taking into account:

- Interest that could have been earned on the cost of the annual Travelcard
- The increase on 2 Jan 2012
- Not needing to travel at weekends after every fifth week
- Five weeks holiday where no Travelcard is needed

Anyone willing to suggest a percentage?

 

[barrykas]

Let's say someone intends to commute within the London zones 1 - 6.

How much more expensive would it be to buy a series of five-week Travelcards than one annual Travelcard on 31 Dec 2011?

- Interest that could have been earned on the cost of the annual Travelcard
- The increase on 2 Jan 2012
- Not needing to travel at weekends after every fifth week
- Five weeks holiday where no Travelcard is needed

Anyone willing to suggest a percentage?

Annual would be £2016.00.

Assuming you want to end the individual "odd period" ones on a Friday and took a week's leave in Spring, two in Summer, one in Autumn:

Month 1: 31st December - 3rd February (01M04D) - £50.40 * 4.36 = £219.80 (rounded up to the next 10p)
Month 2: 6th February - 9th March (01M04D) - £53.40 * 4.36 = £232.90
Month 3: 12th March - 13th April (01M02D) - £53.40 * 4.10 = £219.00
Assume 1 week off here
Month 4: 23rd April - 25th May (01M03D) - £53.40 * 4.23 = £225.90
Month 5: 28th May - 29th June (01M02D) - £53.40 * 4.10 = £219.00
Month 6: 2nd July - 3rd August (01M02D) - £53.40 * 4.10 = £219.00
Assume 2 weeks off here
Month 7: 20th August - 21st September (01M02D) - £53.40 * 4.10 = £219.00
Month 8: 24th September - 26th October (01M03D) - £53.40 * 4.23 = £225.90
Assume 1 week off here
Month 9: 5th November - 28th December (01M24D) - £53.40 * 6.92 = £369.60

The latter "extended" period taking you to the last Friday before 30th December, giving a total of £2150.10, or £134.10 (about 2.5 weeks) more than the Annual.

Cheers,

Barry

 

[calc7]

Annual would be £2016.00.

Assuming you want to end the individual "odd period" ones on a Friday and took a week's leave in Spring, two in Summer, one in Autumn:

Month 1: 31st December - 3rd February (01M04D) - £50.40 * 4.36 = £219.80 (rounded up to the next 10p)
Month 2: 6th February - 9th March (01M04D) - £53.40 * 4.36 = £232.90
Month 3: 12th March - 13th April (01M02D) - £53.40 * 4.10 = £219.00
Assume 1 week off here
Month 4: 23rd April - 25th May (01M03D) - £53.40 * 4.23 = £225.90
Month 5: 28th May - 29th June (01M02D) - £53.40 * 4.10 = £219.00
Month 6: 2nd July - 3rd August (01M02D) - £53.40 * 4.10 = £219.00
Assume 2 weeks off here
Month 7: 20th August - 21st September (01M02D) - £53.40 * 4.10 = £219.00
Month 8: 24th September - 26th October (01M03D) - £53.40 * 4.23 = £225.90
Assume 1 week off here
Month 9: 5th November - 28th December (01M24D) - £53.40 * 6.92 = £369.60

The latter "extended" period taking you to the last Friday before 30th December, giving a total of £2150.10, or £134.10 (about 2.5 weeks) more than the Annual.

Cheers,

Barry

I would say you'd get that 2.5 weeks down to almost 0 by the time you factor in 25 days' holiday (30 for many people), and bank holidays.

 

[MikeWh]

I would say you'd get that 2.5 weeks down to almost 0 by the time you factor in 25 days' holiday (30 for many people), and bank holidays.

Well, he's factored in 20 days holiday already. However, most of that difference is accounted for by the annual at the old price. Start the process a week later and the totals are pretty much the same, especially if you take a week off that last ticket to lose the Christmas bank holidays.

 

[hairyhandedfool]

I would say you'd get that 2.5 weeks down to almost 0 by the time you factor in 25 days' holiday (30 for many people), and bank holidays.

Well, he's factored in 20 days holiday already. However, most of that difference is accounted for by the annual at the old price. Start the process a week later and the totals are pretty much the same, especially if you take a week off that last ticket to lose the Christmas bank holidays.

Bank holidays in 2012 are January 2nd, April 6th, April 9th, May 7th, June 4th, June 5th, August 27th, December 25th and December 26th.

So I think you could avoid about two using five week periods (plus the odd bit at the end), taking into account that the first ticket should be 3rd January to 3rd February (01m01D) as December 31st is a Saturday and the Monday is a Bank Holiday (saving around £8 with the new prices for next year).

You might be able to lose the 27th and 28th December (saving around £28), depending on your work schedule and the calculation takes only four weeks leave into account when the op stipulated five (potentially saving £48).

The season ticket price quoted (£2016) is the current price, the new price is £2136.

All in all I'd say it is not worth the effort (unless you can recoup more than £50 in account interest), especially as you wouldn't get a Goldcard discount on other tickets in the Southeast for upto four adults and four children.

Edit: if you paid separately for the 24th December, or if you didn't use it, you might get it down by another £10-£20 or so.

 

[tannedfrog]

Great answers, thank you!

Anyone worried about not having enough as a lump sum to buy an annual ticket, just needs to plan their ticket-buying over the year very carefully, and they won't lose too much

 

[Greenback]

I would much rather have the convenience of an annual ticket unless there is a good saving in getting other period tickets. I like the flexibility of being able to use the ticket when I'm not working, and there are ways around the lump sum issue!

 

[tannedfrog]

Is this right - a month is 3.84 * weekly cost, and an additional day is 0.13 * weekly cost? Thanks

 

[MikeWh]

Is this right - a month is 3.84 * weekly cost, and an additional day is 0.13 * weekly cost? Thanks

Yes and nearly. A month is 3.84 * weekly. Each day adds 0.13 to the multiplier, except that every 5th day only adds 0.12. So 5 days adds 0.64 and 30 days adds 3.84, or another month. Ten months and twelve days is 39.94 and after that the multiplier stops at 40, the price of an annual.

 

[hairyhandedfool]

Is this right - a month is 3.84 * weekly cost, and an additional day is 0.13 * weekly cost? Thanks

yes, but every fifth additional day is 0.12 of the weekly cost (01M30D is the same as 02M00D) and the year is 40 times the weekly cost.