Do you want to save up to $10,000 a year? It is very simple, drop the car and grab a bike! Hard to believe? Let’s go into details.
An average car can cost you up to $10,000 a year. This can be broken down into $3,000 for depreciation, $800 for insurance, $700 for financial charges, $700 for fuel, $600 for maintenance, $400 for tires, $600 for other unexpected repairs, and the rest for taxes, parking costs, indirect costs, and other hidden costs. And not to mention, all of these expenditures may inflate each year.
Truly, the convenience of having a car is quite expensive. Its yearly cost can be even equivalent to a decent living of a single bicyclist. With $10,000 a year, he can already live a relatively comfortable life!
A rented place can cost about $300 per month ($3,600/year), utility expenses which include electricity, gas, phone, water, and Internet from $150 to $200 monthly ($2,400/year) , and $70 to $100 monthly for food ($1,200/year), and about $300 for monthly miscellaneous ($2,800/year). If you know how to manage your money really well, you could still have a monthly savings from the $300 intended for monthly miscellaneous expenses.
Being a bicyclist, you can save half of your income while you are working. In a year or two, you could be able to afford to take a year off from work, go on a vacation or travel, or go back to school.
Indeed, biking can do a whole lot more than tone muscles; it allows you to accomplish goals and lets you enjoy your rewards. It can make you $10,000-richer every year and can definitely change your life!