Ride Your Bike & Save Some Bucks

When you ride your bike instead of driving to work, school or the store, you gain a lot of benefits. Biking is both aerobic and anaerobic exercise, improves cardiovascular fitness, strengthens bones and prevents disease. Bike riding is also good for the environment as pollution-free transportation–and it’s great for your wallet.

According to AAA, the average yearly cost for owning and operating a personal vehicle is $8,558, approximately 15% of the median household income. This equates to over $700 a month or 57 cents per mile. And while regularly riding a bicycle won’t cut out all auto-related expenses, it can significantly decrease the amount you spend annually on your car or truck.

Less gasoline

First and foremost, you’ll save on fuel. Gasoline’s average cost has decreased significantly in the last five years (from $3.87 per gallon to $2.34 a gallon), but it’s still more expensive than a breakfast smoothie or granola bar—the fuel of a cyclist. And when gas prices start to rise again, which they probably will, you won’t have as much anxiety.

Less maintenance

It costs a lot less to maintain a bike than a car. By not driving as often, you’ll decreased maintenance expenses, which average almost $800 annually. You won’t have to change your oil as frequently or replace your tires as quickly. Plus, with less wear and tear on your vehicle, it will be on the road longer.

Other advantages

Some companies will reimburse employees who bike to work $20 per month, tax-free, because of the Bicycle Commuter Act. This is intended to cover related expenses, such as accessories, repairs, improvements & storage. Check with your employer to see if it’s offered. Additionally, select insurance companies will lower your premiums if they learn you’re no longer driving to work each day.

Finally, there are incidentals such as parking. Most bike racks are free of charge and, as an added perk, are usually close to the building. Plus, you won’t pay as much for the gym. After all, when you ride your bike, you’re getting plenty of exercise. And all that physical activity can mean less trips to the doctor.

As you can see, there are many benefits to commuting via bicycle. Besides becoming healthier and environmentally friendly, you’ll also be spending less on fuel, maintenance and insurance. In fact, when you ride your bike regularly, the only thing you may miss is the morning traffic.