How Much Money I SAVE By Living WITHOUT A Car

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Don't buy a car, at least not unless you absolutely have to. Transportation expenses are one of the largest expenses for the average person, but, by riding a bike instead of owning a car, I'm saving $169,472 every ten years. Even better, I need far less money to retire.

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#personalfinance #financialfreedom #retireearly

I am NOT a financial advisor, and I am definitely not YOUR financial advisor. Everything I share is my own unprofessional opinion or reflects my own personal strategy for increasing my personal wealth. Many financial decisions, including investing, comes with the risk of losing money.
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Cutting out a car allowed me to add 7% to my saving rate. Which is $140 extra month for me.
Plus since i am doing coast fire and not working 4-6 months of the year it made sense to get rid of it. Cycling / walking is my route.

befree
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Comparing the cost of a new car to a second hand bike is disingenuous. I can point out that I was in a bike shop the other day and I saw a brand new bicycle that cost TWICE what I paid for my car. And it was not the most expensive bicycle in the shop by a long way. And I can testify, not all transportation needs can be met with a bicycle. Do you include those in your list? My cost to drive a car (including the depreciation of the car) is about $4, 000. But that includes quite a few long distance trips and trips with cargo.

spacecadet