Bicycle Network Victoria: Save money

Even if you are running a cheap used-car for getting in to work, it’s going to drain $11,000 of your precious income each year if you are paying for parking.
Riding a bike to work? A lightweight $1,000 a year. And that’s a good bike.
That gives an annual saving of at least $10,000 ($833 a month) for those drivers who switch to the two-wheel option.
Bicycle Network Victoria CEO, Mr. Harry Barber doesn’t think people realise just how much money their second car is costing them.
“A lot of people run a second car without a clear idea of what it’s costing them – if you run the numbers you’ll find the bomb is costing you a bomb.
“There is so much more people could be doing with that money than burning it up in a vehicle that spends 94 per cent of its life doing nothing.” said Mr. Barber.
If you are 45, you are going to have to be satisfied with half a million dollars – but a diligent young saver of 25 stands to make a million dollars to spend in their retirement.
Think about it – you can pay yourself to pedal.
A detailed report is included in the latest edition of the Bicycle Network magazine, Ride On, released in August 2011.