It's called 'the better way', but it sure won't be the cheaper way...

If you use the TTC, you're going to be paying 5 cents more starting on New Year’s Day.

The Toronto Transit Commission passed their 2013 budget, which included the fare hike, on Wednesday.

The increase applies to single adult tokens along with other fares, and would bump up the adult metro pass an extra $2.50 to $128.20.

Previously, CEO Andy Byford indicated that a fare increase would be a better option than cancelling services.

But those who spoke in front of the Commission on Tuesday said they were paying more for less, indicating service levels haven't really changed, but prices keep going up.

When this increase goes into effect, it will have been one full year since the last increase, when tokens and passes went up 10 cents.

The TTC is wrestling with a 30 million dollar budget shortfall and this fare increase is expected to earn them around 18 million dollars.