With the economy in shambles and many people without a job, it’s no wonder that everyone’s looking to cut costs wherever they can. One great way to cut down on bills and automobile-related costs is to get rid of your car entirely and start riding a bike. For many people this idea is not practical, but for people who live 10 miles or less from their place of employment, it’s a great way to save some money, help the environment, and get into shape for yourself. The following is an example of how riding your bike to work instead of commuting by car can help the average consumer save hundreds, even thousands of dollars per year.

The most recognizable cost that will disappear from sight when you switch over from car to bike is the cost of fueling up at the pumps. Depending on what you drive, you may pay as much as $500 per month to fuel up your vehicle. For all intents and purposes, let’s assume the average commuter spends about $250 per month on gas. Not buying gas is also great for the environment because it means you’re not burning any gas either, or contributing to the world’s resource woes.

Insurance on your vehicle can cost upwards of $200 per month. The average car or truck owner pays about $100 per month, all things considered, for insurance. This also takes into account the average off all the deductibles paid by consumers when they make a claim. Feel free to insure your bike, but by spending half of what you normally would on your car insurance for one month, you can buy a really great bike lock to securely lock your bike up at work and at home. That’s all the insurance you’ll really need anyway.

The cost of maintenance and basic upkeep on your car can be astronomical depending on what you’re driving. If a CV boot gives out or your brakes need to be redone, it can easily run you hundreds of dollars to get relatively small problems like these fixed. Of course your bicycle will require some maintenance and upkeep but even the most expensive repairs usually are not more than a couple hundred bucks at the most for parts and labor. And if you’re really mechanically savvy, you can often do your own maintenance and repairs and save even more. The average American spends about ten cents per mile to maintain their vehicles, so the more you drive, the more expensive it can be. If a person commutes to work roughly 1000 miles per month, that’s at least $100 in maintenance costs.

If you add it all up, riding your bicycle is not only a great way to get the calves you’ve always wanted to have, but will save you thousands annually over driving your car. In just the last few paragraphs I’ve outlined how the average consumer can save about $500 per month by dumping their car and picking up a bike. In today’s turbulent economic times, this may just be the solution you’re looking for.