# Setting up correct Time Rate and Mileage Rates

MyWay Route Planner has outstanding analytics which can provide you valuable insights, but it's important to set it up with correct data
MyWay Route Planner has outstanding and detailed analytics on board. For example, it can show you how much money you saved by using an app and can be used to calculate the cost for claiming expenses, for analytics purposes, as a performance report, or for any other purposes.
MyWay has two critical parameters we use to calculate the money that the app saved you:
1. 1.
Time Rate (salary cost, remuneration cost, etc.)
2. 2.
Mileage Rates (petrol cost, amortization, insurance, etc.)
We use Standard Mileage Rates recommended by the government when we provide default Mileage Rates and Salary Average when we provide default cost on Time Rate. You can set up your own salary and mileage rates for better estimation and more accurate cost prediction.

### How do we calculate saved costs?

It's important to understand how the app calculates Money Saved. Please see the formula we use below:
TimeBO - Time Before Optimization
TimeAO - Time After Optimization
DisBO - Distance Before Optimization
DisAO - Distance After Optimization
$Saved Money = (TimeBO - TimeAO) * Time Rate + (DisBO - DisAO) * Mileage Rates$