rocket finance

I Rode My Bike Alot This Fall

In August, I had a car that got great gas mileage, could carry a canoe, and could fit my whole family in a pinch. It was paid off and reliable.

Then I hit a Ford F-150 and totaled the vehicle.

I was pretty bummed. We were unable to afford a replacement since we only had liability coverage on the car. It was a 1989 and not worth the premium payments for collision coverage. So I began walking and riding my bike. Sometimes it was a little awkward since I wear a coat and tie every day. Dress clothes are not made for riding bikes and dress shoes are not made for walking. Once in a while, I was able to drive our family car, but only if my wife did not need that day. Fortunately, we have had an unusually warm and dry fall in Wisconsin, so things worked pretty well.

We saved money in more ways than I expected:

• Gas – we did not use as much because I walked or rode my bike – pretty obvious. However, we also saved gas by planning our trips a bit more. I didn’t just drive away on a whim and my wife had to plan her trips in advance because we never knew if we would have the car or not.
• Car Insurance – even though I only had liability coverage on the vehicle, we still save $40+ a month by not having a second vehicle. Nothing to sneeze at in our budget.
• Fast Food – I am much less likely to go through the drive-thru at McDonald’s when riding my bike.
• Oil Changes – we only have one vehicle to worry about now.
• Incidentals – windshield wipers, tires, vacuuming, car washes, etc.
• Car Repairs – These savings will likely increase over time as we don’t have to worry about the inevitable.

Now there are downsides to only having one car in the family. I often need to arrive at church earlier than the rest of my family. Now all of us must come at the same time. What if our remaining car, breaks down? We have no plan B. Furthermore, I always enjoyed storing fishing gear, tools, and other odds and ends in my car. Items that don’t work in the family vehicle.

I’m not sure if we can go indefinitely as a one-car family.  A Wisconsin winter will certainly test our limits, but this experience has shown me that many times we view certain things as essential when they really are luxuries. I never thought we could survive with only one car, but we are doing okay. It requires a little extra effort and creativity, but those kinds of things don’t burden our budget.

Sometime, figure the “per mile” cost of driving your car and see if it is worth it.