If you're one of the millions of people commuting by train each day, then you know that travel can be quite a financial burden - an outstanding average of 14% of your annual take-home salary!
In addition to this, research shows that, in London alone, commuters are losing out on over £400m of savings every year by not using Annual Travelcards.
What does this have to do with Commuter Day?
CommuterClub recognises this issue and announces today as the UK's first Commuter Day: the first day of the year that commuters' salaries are not accounted for by train fares. Up until today, all your hard-earned cash has gone directly to the train companies.
This statistic hits hard with CommuterClub. Irina Iovita, our COO, stated: "We all know that the cost of commuting is substantial, but we were surprised to find out that until February 21st the average commuter's entire salary is going to the train companies. We are marking Commuter Day as the first day that commuters start earning money for themselves!"
In fact, according to official figures from ONS, rail fares have risen twice as fast as wages since 2006: 24% wage growth versus an incredible 56% fare increase. If this trend were to continue, within 10 years, commuters would have to work until March just to pay for their travel.
Irina continues: "We started CommuterClub specifically to address this. We do this simply by making annual tickets affordable by spreading the costs into monthly payments. Our product was designed with commuters at heart, meaning understandable fixed monthly payments, no hidden fees and easy cancellation."
How much will I save with CommuterClub?
"Our research shows that CommuterClub customers are able to cut this figure to just 9% of their take-home salary, saving as much as a third on their annual travel over the average commuter."
Join the club today and save up to one-third of your annual travel costs along with many travel more benefits!
Representative example: Credit limit: £1,200. Interest: £67 Total payable: £1,267 in 11 monthly installments of £115. Representative 10.6% APR. Interest rate: 5.6% pa (variable)