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How much money are you saving?

by Commute by Bike

You ever wonder how much money you’re saving by riding your bike to work? Well check out the new little calculator we’ve added to the sidebar. Enter your info and find out how much money you’re saving on a daily, weekly and yearly basis.

Here’s mine… 14 mile round trip, $2.75 for a gallon of gas, 30 MPG and I ride at least 4 days a week.

Daily Savings: $1.28
Weekly Savings: $5.13
Yearly Total: $266.93

What’s yours? Leave it in the comments…

 
Burley nomad 229

15 Responses to “How much money are you saving?”

  1. Josh Lipton says:

    The savings on gas is just the start of it.

    Another way to evaluate the savings generated by biking to work is by applying the rate that the IRS estimates that the average use of a car is valued at, currently 40 cents per mile.

    Then we can get into the other costs with roads, infrastructure, parking, pollution, economic subsidies, and the list goes on. This site does a good job of coming up with a full costs calculator. http://www.commutesolutions.org/calc.htm

    Though, harder to pin down, these estimated costs give an interesting insight into the true savings that are obtained by riding to work.

    The $266.53 reported savings are less than a quarter of the $1160 that the IRS would evaluate those miles at and only a drop in the bucket of the $3470 in overall costs that the commute solutions calculator estimates.

  2. Cyclo Kitty says:

    A monthly transit pass costs nearly $100. So, I save about $600 per year (more if global warming keeps the season going longer).

  3. Doug says:

    I agree with Josh. You severely underestimate your savings. You have to think about stuff like wear, tear, depreciation on the car, and the risk of getting in an accident and making your insurance rates go up. Those two things are generally more expensive than gas, but everybody forgets about those costs of driving.

    Then there’s also the health benefits. Right now I’m living in an area that’s very car oriented, and everybody has a bit of a spare tire around their middle. That has a cost, both monetary and quality of life.

  4. Fritz says:

    Lessee: car payment runs about $350 a month, insurance another $100, gasoline for my commute would be $400/month. Add in another $50/month average for maintanence and that’s $900/month I’m not paying right now for the privilege of having a commuter car.

    Expenses (in round numbers): $200/month in bus and train passes. I buy extra clothes because cycling wears things out: call that about $20/month on average. Bike maintanence maybe another $20/month. I use rechargable batteries on everything. I buy new bike shorts and jerseys and gloves and socks and helmet every year also, so divided out over the year that runs to around $40/month.

    So my yearly total savings runs in the neighborhood of $6000/year.

  5. Joe Harris says:

    Tim,

    You could more than triple your savings in the UK where petrol (gas) costs.£1 ($2) per litre!

    1 gallon = 4.546 litres >>> $9.00 per gallon!!!

    You have to get used a to huge increase in rain and mud though, so there are trad-offs.

    Joe

  6. Evan says:

    Not only do I save on gas and other car expenses, I also save $150 a month parking costs.

  7. Mark says:

    Daily Savings: $3.35
    Weekly Savings: $10.05
    Yearly Total: $522.34

    Although I will admit that some of that gets offset by the fuel required for the commuting engine (me). Although the health benefits more than make up for it.

  8. Jett says:

    You’ve given me an idea. What sort of things would you calculate if you wanted to determine your improvement in mental state? This could be an interesting subject to explore.

  9. Jerome says:

    I’m moving in about a month and my commute will change from 12 miles round trip to 48 miles round trip. I keep telling everyone that I’m still going to bike to work (just to keep me liable) and now I’ve got even more reason to.
    Currently:
    Daily: $2.35
    Weekly: $11.73
    Yearly: $609.82

    New bike commute(5 days a week):
    Daily: $9.38
    Weekly: $46.91
    Yearly: $2,439.27
    Gas is really expensive here in Alberta even though it’s our biggest industry. Seeing these numbers is a great incentive to make the long haul everyday. I’m thinking that riding to work everyday would justify an extra $2,500.00 per year in bike stuff. Maybe a new bike every year? Yippy Skippy! I’ve got to show this to my wife!! She’ll be so proud of me!

  10. Kaz says:

    16 mile round trip @ $3.00/Gallon, 16mpg (Jeep Cherokee), 5 days/week

    $3/day
    $15/week
    $65/month
    $780/year

    Not sitting in traffic and and being in a good mood when I get to work/home= Priceless!

  11. Fritz says:

    Jerome, I used to have an extreme commute like yours — 24 miles one way — but that was when I was much younger and had fewer responsibilities and commitments. I ended up either driving every other day or driving halfway to my church and biking the rest of the way in.

  12. Steve says:

    Daily miles commuted: 8
    Price of gas per gallon: $2.75 (um, I guess)
    Your car’s MPG: 0 (don’t own a car)
    Days you travel per week: 6

    Daily Savings: $Infinity
    Weekly Savings: $Infinity
    Yearly Total: $Infinity

    Where do I get my $infinity? :-)

  13. Bruce says:

    My numbers, using $0.40/mile, 28 mpg, and $2.85/gallon, show that if I rode every day (I don’t because I’m coming up on 45 yrs. old and it’s 43 miles round trip) it would be $5394.20. That’s not factoring in emotional and phys. improvements, wear on infrastructure, and car insurance.

    Nor does it factor in costs, but my bike was free (except for rubber and brakes). Clothing involves work uniform (I deliver propanem so there are “uniforms”), and I ride with Power Straps on flat pedals.

    Besides, it’s fun racing the Amish buggies to/from work around here.

  14. Josh says:

    Well I live next to the public transit train, so I only get to save $3.50 a day since I cant park downtown at work anyway. It adds up but in no way offsets the amount of cash I spend on bikes and stuff for them. The real savings is in the fact I dont need anger management classes since I’m blowing by traffic and beating the train by 20 minutes each way. Not to mention I dont have to do any cardio at the gym anymore.

  15. Anonymous says:

    ive got gas

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