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Author Topic: How Biking Saves Me $10,000 a Year Back to Topics
mastermariner
Champion Author
Texas

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Message Posted: Jul 27, 2013 10:51:39 AM

Mr. Money Mustache retired at age 30 with roughly $800,000 in cash and investments. One of his biggest money saving tips is: ditch the car and ride a bike. He estimates Americans can save up to half their incomes by switching from automobiles to bicycles.
You don’t even have to totally give up the automobile. You just have to use it less. So, instead of the usual strategy of buying two expensive cars and living far from work and then replacing your cars every five years, you can buy two old cars like I have. Bike to work. And that can make a difference in your auto costs of somewhere like $12,000 to $15,000 a year,” he calculates. “A lot of people aren’t even saving that much right now, so they’re more than doubling their saving rate — possibly even saving half their income when you
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REPLIES (newest first) Post a Reply
PDQBlues
Champion Author San Diego

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Message Posted: Jul 28, 2013 7:51:22 PM


And this savings doesn't even include the health benefits. Unfortunately, too many people live too far away from their working places.
bston
Champion Author Oklahoma City

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Message Posted: Jul 28, 2013 5:44:54 PM

Nice savings, until the government figures out a way to heap taxes on bicycles from fuel savings.
MadFueler
Champion Author Winston-Salem

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Message Posted: Jul 28, 2013 5:21:38 PM

Would be nice - but there's no room for a bike in my apartment and no place to lock a bike where I work, and the motorists around here think a bike's a toy instead of a vehicle. And to make it worse, some of the cyclists here ride discourteously (way out into the road, two abreast, against traffic, etc.) so drivers assume that all bike riders are like that.
TruthMatters
Champion Author New Jersey

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Message Posted: Jul 28, 2013 12:36:34 PM

Great article, much needed for a country which is two-thirds overweight and one-third obese!
blupupher
Champion Author Houston

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Message Posted: Jul 28, 2013 11:46:16 AM

Not practical for all
lindy5049
Rookie Author Maryland

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Message Posted: Jul 28, 2013 11:11:13 AM

The bike my husband rides is a Suzuki Boulevard -- my Honda Accord gets max city 28mpg, his Suzuki gets 60+mpg. With his rain suit, chaps, leather jacket heated grips and seats there are only a few months he doesn't ride.
RAE344
Champion Author Virginia Beach

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Message Posted: Jul 28, 2013 9:41:01 AM

Even if you have a bike, you still need to keep a car in a non urban environment.

These numbers don't even make sense. The only thing you save is a few thousand in gas. But you subject yourself to riding on the road with the cars.
crep1291
Champion Author Ottawa

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Message Posted: Jul 28, 2013 9:12:23 AM

For those on longer commutes, perhaps it's also possible for you to combine biking with public transportation... Or get an electric bike that lets you go faster...

[Edited by: crep1291 at 7/28/2013 9:12:55 AM EST]
citrat
Sophomore Author Indianapolis

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Message Posted: Jul 28, 2013 2:18:11 AM

The cities have to be made bike friendly. This obesity epidemic is killing us.
goldrose1
Champion Author Cleveland

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Message Posted: Jul 28, 2013 1:39:52 AM

ok...
alterman156
Champion Author New York

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Message Posted: Jul 28, 2013 1:19:53 AM

Bicycles can save one on transportation costs. Mass transit where available is also less expensive.
VanIsleRover
Champion Author British Columbia

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Message Posted: Jul 28, 2013 12:59:50 AM

Another ** article.
TripleHs
Champion Author Austin

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Message Posted: Jul 28, 2013 12:47:38 AM

many people don't even spend that amount of money on autos a year
leeac
Champion Author Ohio

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Message Posted: Jul 28, 2013 12:19:00 AM

Bikes are great for short trips and no need to carry anything.
millerin
Champion Author Orlando

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Message Posted: Jul 27, 2013 11:16:34 PM

nice3
Hemond
Champion Author Providence

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Message Posted: Jul 27, 2013 10:53:41 PM

QUOTE :::Or live where you can use public transportation to get around.:::

Public transport is hardly a panacea.

There is public transport all around me - bus and train, but you couldn't pay me enough to take the bus. Too many low lifes on the bus. There is a nice antique trolley which I do take.- only because the bus company won't let it service the low life neighborhood. They want to keep the trolley nice. The low lifes will ruin it like they destroy everything.
skempton
Champion Author Vermont

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Message Posted: Jul 27, 2013 10:52:30 PM

I'll think about it.
esq262
Champion Author Asheville

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Message Posted: Jul 27, 2013 10:11:32 PM

Interesting.
carloco75
Champion Author Richmond

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Message Posted: Jul 27, 2013 8:40:05 PM

$1000 to $1250 a month on a vehicle..Bull siT..!
carloco75
Champion Author Richmond

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Message Posted: Jul 27, 2013 8:35:00 PM

Bull-sIt...
nicven
Champion Author Virginia Beach

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Message Posted: Jul 27, 2013 7:15:31 PM

Great idea.
windup
Veteran Author Austin

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Message Posted: Jul 27, 2013 7:12:11 PM

Or live where you can use public transportation to get around.
RRBC
Champion Author Victoria

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Message Posted: Jul 27, 2013 6:39:42 PM

Save money and live longer
Infidels
All-Star Author Alberta

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Message Posted: Jul 27, 2013 5:59:29 PM

Great if it works for you.
USMCturtlehead
Champion Author Lexington

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Message Posted: Jul 27, 2013 5:46:56 PM

Great idea if you want to stay and ride locally.
mike56MI
Champion Author Michigan

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Message Posted: Jul 27, 2013 5:01:32 PM

Not me
bklynse
Champion Author Los Angeles

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Message Posted: Jul 27, 2013 4:50:29 PM

Sorry, this just doesn't work for the overwhelmingly vast majority of Americans who are married, have children, and have to drive to work...
FuelishGuy
Champion Author Edmonton

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Message Posted: Jul 27, 2013 4:39:03 PM

That may work for people in the sun belt but up here on the tundra the window for peddle power is 3 months.

...on the other hand it'd sure cut down on texting and driving.
Zuegma
Champion Author Nova Scotia

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Message Posted: Jul 27, 2013 4:35:29 PM

I think a lot of people can't be overly fussy on how far they "need" to travel versus a limitation on how far you can comfortably bike. And, it also depends on how often you can actually bike in varying weather conditions.
velichita
Champion Author New Jersey

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Message Posted: Jul 27, 2013 4:18:53 PM

That's not for everyone.
kag2010
Champion Author Winnipeg

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Message Posted: Jul 27, 2013 3:40:06 PM

GOOD FOR HIM,,,,
Hemond
Champion Author Providence

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Message Posted: Jul 27, 2013 3:27:11 PM

It costs me plenty to ride bike. I often fly to some biking event. Then spend a week on the road cycling. (sometimes I ride home, maybe 600 miles)

Air ticket, camping, eating on the road. Sometimes the event fees are high - just to participate in the ride costs plenty. I had to skip one particularly tantalizing ride as the fee was $2000.

Oh yeah, the bike itself. $1500 and up.
greywolves
Champion Author Las Vegas

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Message Posted: Jul 27, 2013 3:13:13 PM

but, then i wouldnt need gasbuddy!?!
streetdesign
Champion Author Illinois

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Message Posted: Jul 27, 2013 3:01:50 PM

Sounds good if you fairly close to work. I can't afford the homes near work which is why I live further west. Sometimes there has to be trade offs. I do however ride my bike around the area and to run errands instead of driving.
BUSMAN1105
Champion Author Atlanta

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Message Posted: Jul 27, 2013 2:59:15 PM

GOOD FOR HIM!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
bwatchingu
Champion Author Arkansas

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Message Posted: Jul 27, 2013 2:55:20 PM

interesting
endymion
Champion Author New York

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Message Posted: Jul 27, 2013 2:43:58 PM

I don't know about the savings, but it is good for physical fitness and exercise.
RitaVespa
Champion Author Oregon

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Message Posted: Jul 27, 2013 2:43:33 PM

Interesting
highdesertman
Champion Author Albuquerque

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Message Posted: Jul 27, 2013 2:05:13 PM

First thing the doctor asked me at my last physical was whether I owned a bicycle. Apparently the darn things are bad for your prostate as well a danger in traffic. Not for this old man, thanks.
whitebear1883
Champion Author Oakland

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Message Posted: Jul 27, 2013 2:02:25 PM

With 31 miles for me to work from door to door, I don't think this would work so well for me. I'd have to wake up at 2 am!
Patty7841
Champion Author Boston

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Message Posted: Jul 27, 2013 1:16:44 PM

Not everyone can drive to his/her place of employment or even around town to do errands. It is very dangerous where I live to hop on a bike and ride around. You just do not see that much biking in my area. People in their motor vehicles where I reside do not drive safely. But what you save is amazing. I am glad you are able to do this.
amerk73
Champion Author Dallas

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Message Posted: Jul 27, 2013 1:15:18 PM

good
dudleydog
Champion Author New Hampshire

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Message Posted: Jul 27, 2013 1:00:58 PM

in order to live close enough to bike, my house would cost 50% more.... not a good $$ tradeoff
Cothrom
Champion Author South Carolina

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Message Posted: Jul 27, 2013 12:55:19 PM

To actually retire at thirty with only 800K in investments. And looks like a big house with a few young kids. Oh good luck to staying retired without some money backup
Yooperheart
Champion Author Michigan

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Message Posted: Jul 27, 2013 12:55:01 PM

Area has a lot to do with this and climate.
Had to do in the northern tier states.
Your job too!
bsnort
Champion Author Huntsville

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Message Posted: Jul 27, 2013 12:44:43 PM

@ humblepie - good one!

this is great if all the stars line up.............in order to live close enough to bike to work in a great number of areas, you probably wouldn't be able to afford the mortgage (there goes the savings) or you have to live in a crackerjack box.
335d1
Champion Author Virginia

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Message Posted: Jul 27, 2013 12:30:13 PM

If he can do it, great.
Night Owl
Champion Author Toronto

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Message Posted: Jul 27, 2013 12:19:48 PM

Good for him.
sarasotasingle
Champion Author Sarasota

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Message Posted: Jul 27, 2013 12:16:49 PM

I am in Outside sales, I cant bike it.. I Would love to though..
zuess28
Champion Author Allentown

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Message Posted: Jul 27, 2013 11:58:15 AM

How close do you have to live from work in order to bike it? It is a great Ideal if you can do it.
NilesBishop
Champion Author Philadelphia

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Message Posted: Jul 27, 2013 11:56:20 AM

Buying 2 expensive cars every 5 years? Must be nice.
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