Author Topic: Saving $184.80/mo by riding to work!  (Read 4512 times)

Maseroni

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Saving $184.80/mo by riding to work!
« on: June 17, 2014, 08:53:36 AM »
I have recently started riding 3 times per week to work, I plan on increasing that to 5 days per week as my stamina builds.  Based on my calculations, I estimate that we are saving (as the title suggests) $184.80/month when using the IRS Standard Mileage rate ($0.56/mile or $0.35/km).

My Bike commute is 18 km (~11 miles) each way, whereas my car commute is is 22 km (~13.6 miles) each way (due to trails).

In just gas alone, I estimate we are saving $68.57/month.  This is based on my 2008 Mazda 5 getting 10.22 L/100 km (23 MPG), according to the EPA, and the average gas price in my Province of Ontario in 2013 being $1.27/litre ($4.40/Gal in USD).

So according to MMM's 10 year savings calculation - I will have saved $11,862.61 in gas, or $31,971.40 in car expenses!  Assuming, of course I can keep this up 3 times a week for 10 years, or don't retire before 10 years is up!

skunkfunk

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Re: Saving $184.80/mo by riding to work!
« Reply #1 on: June 17, 2014, 10:00:00 AM »
You only get the full savings if you can actually get rid of a car. This is because you still pay insurance and still have capital tied up in the car.

Much of MMM  calculations include the direct fitness and general wellness benefits of biking.

GuitarStv

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Re: Saving $184.80/mo by riding to work!
« Reply #2 on: June 17, 2014, 10:05:54 AM »
Nice job!

I worked out that my 10 mile each way commute saves a little more than 5$ a day in gas costs alone, based on our actual distance traveled and time between fill-ups for our Toyota Corolla (stop and go traffic kills the fuel economy).  Going just by that number my bike that was purchased new has been paid off already, and I'm into the pure profit zone at this point.

However, if you take into account that my increased extreme sexiness due to bike commuting caused us to have a child I think we may be revenue negative on this one.

enigmaT120

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Re: Saving $184.80/mo by riding to work!
« Reply #3 on: June 17, 2014, 10:53:25 AM »
Nah -- a vasectomy would only cost a couple of month's gas savings.


Maseroni

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Re: Saving $184.80/mo by riding to work!
« Reply #4 on: June 17, 2014, 12:05:40 PM »
You only get the full savings if you can actually get rid of a car. This is because you still pay insurance and still have capital tied up in the car.

Much of MMM  calculations include the direct fitness and general wellness benefits of biking.

Yeah you are right, I'm not sure how the winter is going to go, so I will have to see if I'd be able to get away with one car.  We live in the country outside of town, so walking to amenities is difficult when biking can't be done.

Nah -- a vasectomy would only cost a couple of month's gas savings.



Not here!  They are covered by healthcare!

GuitarStv

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Re: Saving $184.80/mo by riding to work!
« Reply #5 on: June 17, 2014, 01:09:24 PM »
You only get the full savings if you can actually get rid of a car. This is because you still pay insurance and still have capital tied up in the car.

Much of MMM  calculations include the direct fitness and general wellness benefits of biking.

Yeah you are right, I'm not sure how the winter is going to go, so I will have to see if I'd be able to get away with one car.  We live in the country outside of town, so walking to amenities is difficult when biking can't be done.




Winter on a bike in Canada is fine.

Deflate your tires a bit, wear very bright clothing, front and rear lights, and tape over the holes in your helmet (keeps you warmer), get a watering can and pour hot water over your bike to knock the salt off after each long ride to keep corrosion down.  Fenders also help.

Occasionally you'll have to carry your bike over unplowed areas of road, but most of the main streets are bikeable most of the time.
« Last Edit: June 17, 2014, 01:11:17 PM by GuitarStv »

Maseroni

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Re: Saving $184.80/mo by riding to work!
« Reply #6 on: June 17, 2014, 07:38:31 PM »



Winter on a bike in Canada is fine.

Deflate your tires a bit, wear very bright clothing, front and rear lights, and tape over the holes in your helmet (keeps you warmer), get a watering can and pour hot water over your bike to knock the salt off after each long ride to keep corrosion down.  Fenders also help.

Occasionally you'll have to carry your bike over unplowed areas of road, but most of the main streets are bikeable most of the time.


You are absolutely right Guitarstv, I am really excited to try bike commuting to work this winter.

We just moved to Peterborough this spring so this is the first hose we've owned that has been close enough to work that I can commute by bike. Previously, I was  living in Burlington and commuting to Markham (~84km each way), now that both work and I have relocated to Peterborough this will be the first winter to test out winter commuting!

Thanks for the encouragement!  It's nice to know that it really is as simple as just doing it.

HairyUpperLip

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Re: Saving $184.80/mo by riding to work!
« Reply #7 on: June 18, 2014, 07:53:37 AM »
You only get the full savings if you can actually get rid of a car. This is because you still pay insurance and still have capital tied up in the car.

Much of MMM  calculations include the direct fitness and general wellness benefits of biking.

Yeah you are right, I'm not sure how the winter is going to go, so I will have to see if I'd be able to get away with one car.  We live in the country outside of town, so walking to amenities is difficult when biking can't be done.




Winter on a bike in Canada is fine.

Deflate your tires a bit, wear very bright clothing, front and rear lights, and tape over the holes in your helmet (keeps you warmer), get a watering can and pour hot water over your bike to knock the salt off after each long ride to keep corrosion down.  Fenders also help.

Occasionally you'll have to carry your bike over unplowed areas of road, but most of the main streets are bikeable most of the time.

Very impressive, good sir.

I tried to ride in the snow a few times in Iowa with my Trek hybrid and I kept spinning and sliding a lot. It was a lot of fun, but very dangerous. I'm guessing the deflated tires helps with that.

GuitarStv

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Re: Saving $184.80/mo by riding to work!
« Reply #8 on: June 18, 2014, 09:01:36 AM »
Yeah, deflated tires . . . using a tire with a little tread helps in the snow a bit.  It's worth lowering your seat a bit if you're going to be heading into snowy conditions too as getting a foot down quickly becomes important.   If you bike in the ruts that the cars make in the snow, this gets you down pretty close to the pavement which isn't bad for grip most of the time.  We usually get the roads plowed pretty quickly after snowfall, but this year the snow removal crews were kinda lazy/overworked so it was more exciting.

It's not terribly dangerous if you don't act stupidly.  Around here you get much safer passing distances from vehicles in the winter than in the summer.  :P

HairyUpperLip

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Re: Saving $184.80/mo by riding to work!
« Reply #9 on: June 18, 2014, 09:26:28 AM »
True. I'm originally from TDot myself and you guys do a much better job of clearing after a snow fall.


James

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Re: Saving $184.80/mo by riding to work!
« Reply #10 on: June 18, 2014, 10:26:46 AM »
I picked up a used fat bike this spring (when everyone was selling them instead of buying) and will use that for biking to work this winter. It has 5 inch wide tires, which run at about 5 psi... :D

I have a short ride, just 1.5 miles, so to be honest I could have walked instead, but I wanted the bike for winter mountain biking anyway. I am looking forward to biking in winter races, etc.

Not suggesting others do that, but fat bikes are getting more common and are certainly a nice bike for winter commutes up north here.

enigmaT120

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Re: Saving $184.80/mo by riding to work!
« Reply #11 on: June 18, 2014, 10:36:47 AM »
I picked up a used fat bike this spring (when everyone was selling them instead of buying) and will use that for biking to work this winter. It has 5 inch wide tires, which run at about 5 psi... :D

I have a short ride, just 1.5 miles, so to be honest I could have walked instead, but I wanted the bike for winter mountain biking anyway. I am looking forward to biking in winter races, etc.

Not suggesting others do that, but fat bikes are getting more common and are certainly a nice bike for winter commutes up north here.

I had no idea any would be coming up used, yet.  Nashbar has one for about a thousand bucks.  I think you can get studded tires for them.  We get snow rarely enough here that I just drive my pickup (or stay home!) until I can get back out on my bicycle or motorcycle.

Thegoblinchief

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Re: Saving $184.80/mo by riding to work!
« Reply #12 on: June 19, 2014, 11:35:09 AM »
Track your cost per mile on the bike. Even after almost a full year of riding, I'm still "only" saving $0.20/mile versus the car, $0.30/mile if you only count depreciated value on the bike.

Judith681

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Re: Saving $184.80/mo by riding to work!
« Reply #13 on: June 20, 2014, 10:36:55 AM »
That's great. I wish I could do that but I just prefer driving if I'm honest

skunkfunk

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Re: Saving $184.80/mo by riding to work!
« Reply #14 on: June 20, 2014, 12:07:33 PM »
That's great. I wish I could do that but I just prefer driving if I'm honest

http://www.mrmoneymustache.com/2011/04/18/get-rich-with-bikes/

Don't knock it til you try it.