Building a wealthy, healthy Cheboygan through biking

[Originally published in the Cheboygan Daily Tribune, August 7, 2018]

Most of us know that the humble bicycle is perhaps our best weapon to reduce carbon emissions, but less appreciated are the monetary savings that result from bike riding.

This is the story of my own family’s realization of this potential, which I share in the hope that it may benefit other families.

Five years ago my wife and I faced an important financial decision. For 13 years we’d been driving a 1998 Honda Civic that had taken us from one side of the country to the other as we changed jobs. But now it required frequent visits to the mechanic, and we felt it was time to buy a newer and more reliable car.

What, then, to do with the old Honda? Our friends urged us to keep it as a second car. They argued that it was now essentially “free,” and that a second car would be useful as a backup; and what if my wife and I needed a car for separate activities? Their arguments reflected conventional thinking about car ownership, which averages two cars per household in the US, according to data compiled by Statista.

Instead we decided to buck convention, trade in our old car for a measly $1000, and remain a one-car household. It has been one of our better financial decisions.

You see, for years I’ve been using my bicycle as my primary means of local transportation, and my car as a backup for longer trips that can’t be avoided. That was true when I lived in larger cities, but it’s also true in Cheboygan, where we’ve lived since 2016. Most people associate bikes with kids or tourists; but if you pay attention to traffic patterns in our town, you’ll see local people of all ages biking to the beach, to the library, and to work. And no wonder: with its compact footprint, mostly flat terrain, and light vehicle traffic, Cheboygan is actually the best place for biking that I have lived — except when snow covers the ground!

A few minutes with a calculator will impress the awesome savings that come from bike riding.

By foregoing a second car, our family has saved at least $4,300 in car insurance so far, and about $1000 in vehicle taxes and registration.

And then we have the cost of maintenance and repairs, which AAA estimates as costing an average $1,186 per year for new vehicles, but is much more for older vehicles. Thus a conservative estimate of our savings over five years comes to a total of $11,230. Those savings have been invested, and thus continue to grow thanks to compound interest. Meanwhile, we’ve experienced a few life changes: the birth of our daughter three years ago, and our move back to my hometown two years ago. But bike transportation — for groceries and errands, trips to the beach, and for work — remains a constant.

This year I’ve undertaken my longest bike commute yet: an 18-mile round trip from my home in town to a local farm, where I work three days per week. To make this trip easier I’ve been borrowing a bike fitted with an electric assist front wheel, which allows me to power up hills that might otherwise be a challenge. Electric bike conversion kits are available on the internet for a few hundred dollars, and can be fitted to any standard bike. Electric assist makes bike commuting a no-brainer, even for a pipsqueak like me: I’m a 43-year old nerd, who never played sports in school, and who still struggles to lift an unweighted barbell. Nevertheless, the commute has been easy enough for me to manage.

Bike riding has many benefits that make it an excellent alternative to driving: (1) No vehicle taxes, low maintenance, and little depreciation – incentives that everyone should love. (2) You always get the best parking spots, which makes biking sometimes faster than driving for short trips. (3) Medical studies have shown that bike riding is safer than driving, because of the benefits that accrue from exercise, and the negative health effects of prolonged sitting.

Regular bike riding is an excellent way to combat obesity and promote a healthy heart. (4) Finally, according to the Union of Concerned Scientists, cars and trucks account for 20% of all global warming emissions in the US. As a zero-emissions mode of transportation, bikes are one of the best ways to reduce our carbon footprint and slow global warming. For all of these reasons, make your other car a bike.