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Save 7 grand by ditching your car and biking to work?

Man riding bicycle to work © iStock

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Editor’s note: Each week, one of Bankrate’s personal finance reporters is reporting on a new way to save and chronicling the savings journey.

We know biking to work is healthier for you and better for the environment than driving. But can it actually save you cold hard cash?

A few years ago, my wife and I sat down with our budget, and she brought up the idea of cutting one car. It was stupid to pay lots of money for an item that ultimately spent most of its time sitting in our driveway or baking in the parking lot at work, she argued.

After some (OK, lots of) discussion, I finally agreed to sell one of our cars and try biking to work instead, and it proved to be a game changer for us financially.