How bicycle commuting is helping my pay off debt

I've been bicycle commuting for a few months now, mostly out of necessity, but now I'm really enjoying it. And, it has financial benefits too!

I am lucky enough to work only 2.5 miles from one of my two work sites and close to several grocery stores and other amenities. My other work site is about 8.5 miles from home and I only have to go there on occasion, but I still bike there! While I realize this post won't have value for people who live far from their work, stores, etc or people who live in especially harsh climates, I hope some of you will find this inspiring and will go out and brush off your bikes and get pedaling (safely, of course).

I have been riding my bicycle to and from work, to the grocery store and bank, to the library, and on various errands. It's had so many benefits!

The obvious financial benefits include:

• reduced gasoline costs
• reduced car maintenance costs
• reduced car insurance costs

I'm honestly considering selling my car entirely as I've worked out that renting a car one day every week will cost less than keeping up my own car! And, honestly, I don't even need a car once per week! If I get rid of my car entirely my car-related costs will drop a TON!

Less obvious financial benefits to my bicycle commuting have included:

• improved asthma control (less $ spent on medication)
• fewer impulse purchases (especially things like coffee or fast food and non-essentials at the grocery store since I can't carry too much on my bike!)
• better grocery choices as I need to consider the nutritional value of what I buy and eat if I want to keep up this lifestyle change

I'm experiencing a ton of health benefits as a result of bicycling so much as well. These health benefits have the potential to reduce my long-term financial expenses by reducing the amount of money I need to spend on health care. Because I've been bicycling and also paying more attention to my diet in order to promote the energy reserves I need for cycling, I have noticed:

• improved asthma symptoms, as mentioned above
• weight loss
• improved digestion
• clearer skin
• improved psoriasis symptoms
• more energy
• better sleep
• better mood

I haven't had any lab testing or a medical exam since I've started bicycling, but I do work in healthcare and I can see and feel huge health improvements!

{{Please note, I am NOT a physician or medical professional and NOTHING in this post should be taken as medical advice! Please see your doctor or healthcare provider before making lifestyle changes like I have undertaken.}}

Are you curious how much bicycle commuting might save you? Check out THIS calculator from Kiplinger's. My commute is short, but bicycle commuting saves me about $2 per day! I work an average of 16 days per month, so that's a savings of about $32 per month or $384 per year.

The downside of bicycle commuting
Now, I don't want you think bicycling is ONLY saving me money. There are some costs involved and if you take up bicycle commuting, you'll have to decide if these costs are worth it. 

If you don't have a bike, obviously you'd have to invest in one to take up bicycle commuting. For the moment, I am riding my step-mom's bike, but I am saving to buy a bike for myself and one for my son. My budget is $250 for both + $100 for accessories (baskets, panniers, lights, etc). We already have helmets, bike locks, and a friend gave me a tire pump. I've had to invest in some weather-friendly clothes, but bought them all on sale (about $30). I also had to replace a tire inner tube and bought a spare ($9 each at a bike shop within walking distance from my home).

At some point, the bicycle I'm riding will also need a tune up ($60 at the local bike shop). If you live somewhere with a lot of rain or snow, you might also need to invest in fenders and if you plan to haul cargo or lots of groceries, you'll want to consider panniers (bags that hang over your back wheel) or baskets and racks.

Also, I'm not sure this is a downside to bicycle commuting, but it does mean spending a little more money -- I'm LOSING WEIGHT! I don't own a scale so not sure how much I've actually lost but almost all of my clothes are too big now! I'm slowly replacing things as I see deals and find things that need to be replaced anyhow.

Staying safe
Of course, another significant concern is safety. Be sure to ALWAYS wear a helmet! Working in emergency medicine, I can tell you the consequences of a crash without a helmet on can be disasterous (and expensive!). Also, be sure you have a headlight and taillight if you will be riding in the dark.

Before I began bicycle commuting, I also looked up both local regulations about bicycling and bike routes. There are very few bicycle lanes here and not a lot of cyclist so drivers aren't used to bicyclists on the road. Be sure you know your local laws, customs, and bike routes!

ALWAYS be aware of your surroundings and use caution when approaching intersections or around cars.

If bicycle commuting isn't for you
Obviously bicycle commuting won't work for you if your commute is incredibly long or in extremely bad weather. However, you can probably still reduce your commuting costs if you can't bicycle. Make sure you keep your tires properly inflated (it actually can make a HUGE difference) and keep your car well maintained -- check sites like Groupon for maintenance deals and go directly to the websites for your local mechanic or car dealerships with service departments to find sales and coupons.

To save money on gas, be sure to check out Gas Buddy to price shop for the best gasoline rates and find out if your local grocery store has a savings program tied to gasoline savings.

If you take public transportation, consider buying weekly or monthly or even annual passes -- often the longer time period covered by the pass the greater the savings. Also, look to see if HOW you buy your pass makes a difference. I used to live in an area where buying your passes online saved you quite a bit of money!

What are your alternative commuting tips to help save money?