I want to talk about how walking to work is saving me $14,000 per year.
What I hope to convey here is twofold.
First, is that if you can avoid a car payment, you should do so! Why? Because the money saved can be invested into something big.
Second, understand just how big these seemingly small amounts are.
Walking over buying a car was one of the best decisions I ever made.
I will not go into the numerous benefits walking has on your physical and mental health here. Rather I will just stick to the financial numbers.
Furthermore, I understand that depending on your lifestyle, not owning a vehicle may not be an option (especially if you have kids).
Of course, this does not mean you need a $65,000 car (or two). Your money is best directed elsewhere.
Walking vs Public Transportation vs Automobile
I made a lifestyle choice many years ago to get an apartment close to were I work just so I could walk there each day.
For me, it is a 35-minute walk back and forth and I love each minute of it.
I live in New York City and the subway is nearby and takes me to work in 7 minutes, but I still walk. Only if I need to go someplace far, then I can use public transportation.
The fare for the subway and buses here is $2.90. That means a round trip to and from work would cost me $5.80 per day.
That is $29.00 per week, meaning $116 per month.
Thus, $1,392 per year in costs if I took a train/bus to work and back each day.
I am saving $1,392 per year by walking.
The average cost of car ownership for 2025 according to AAA (including insurance, gas, and maintenance) is about $1,025 per month.
This adds up to $12,300 per year to own a vehicle.
That is just the average with some paying less and paying more (sometimes much more).
Altogether, public transportation and car ownership would cost in total $13,692 per year.
To keep things round, I will round that up to $14,000 per year in expenses.
Saving to Maximize Investing
By walking to work I am saving $14,000 per year!
All of that is money that can be used elsewhere such as paying off debt or investing.
I have no debt, so nearly all of that is being invested into the stock market.
The stock market has returned an average of 10% over the past century (minus inflation).
Imagining investing that $14,000 per year into the stock market each year.
If you did that for 10 years, your money would have grown to around $259,436.
If you did that for 20 years, your money would have grown to around $896,034.
Finally, if you did that for 30 years, your money would have grown to around $2,547,207.
That is the power of compound interest!
Conclusion
And that is how walking to work is saving me $14,000 per year.
If you can walk, do it! If you can get by without reliance on a car, do it!
All that money saved can be invested and grow into a fortune.
I cannot count the number of times I get the look from people who think I am crazy because I don’t have a car and walk the 35 minutes to work each day.
You will get those reactions as well. Ignore them. These are the people who are broke, in debt, compliant to a society that tells them; car = success.
In the end, when you are financially free and they are still slaving away at a 9-5, you will realize what real success is.
These seemingly small amounts do add up big over time.
What do you think of this post? Let me know in the comments below!
Like this:
Like Loading...
