How I save thousands of dollars by giving up my car

Bye, bye my dear car

Just last week I sold my car. One of the best cars I have had in many years. A Hyundai Elantra. It was gas efficient, it had great acceleration and it has a beautiful design.

But our relationship didn’t make sense anymore. I don’t have any real need for my car. In the past, I justified being a car owner because I could use it in my  Airbnb business, but I don’t have an Airbnb business anymore, so goodbye beautiful car. 🙁

Hello bike

Instead, I am reaffirming my relationship with my old bike. My bike has been with me for years, always loyal. I use it all during the year, I even use it in the winter at -20 °C (-4.0 °F).

How has my life changed since I did this change?

I am saving tons of money. Here are my savings per year.

Additional benefits of not having a car

• Not having to worry about parking the car in front of my apartment
• My car was broken into several times. There was nothing to steal but I felt violated every time.
• More walking/biking, which improves my health
• I am contributing less to the pollution of the planet
• I feel better when I consume less
• I don’t have to worry about where to park my car when I travel
• I don’t have to look for parking spaces when I go places
• I don’t have to worry about ever hurting anyone while driving (me too, I can be a distracted driver)
• I am a minimalist. I hate owning stuff
• I can get friends to come to my neighborhood, instead of me going to their neighborhood, because I don’t have a car
• I save a few minutes of my life by not having to worry about payments
• If I take the metro or an Uber, I get to read or make phone calls while being transported.
• Our cities are polluted with parking spaces everywhere. I am glad I am not contributing to that.

The downside of not having a car

• Occasionally I have to rent a car, about once per month at the cost of $5/hour plus gas. $25/month x 12 months = $300
• Occasionally I rely on others to give me ride

A car as a status symbol for insecure people

People like to display the wealth they don’t have. I know there are many people who have luxury cars or new SUVs and who don’t have savings accounts. No Tax-Free Savings Accounts, No RRSPs, no taxable account, no nothing. Just the illusion that they have money because they are wasting thousands of dollars in car ownership.

For those people, I ask you to reconsider your priorities. What’s more important. To lie to your friends by displaying the wealth you don’t have, or to start saving for your retirement?

People with gas guzzlers  are saying F**K YOU to the environment

Every time I see a gas guzzler, I feel that the driver doesn’t care about the environment, about the millions of people who recycle, and who try to reduce energy consumption. In a society where we have to share the natural resources, people with big gas guzzlers, are saying F. You to the rest of us.

Related posts

1. How frugality, some investments, and no debt have given me freedom
2. How I compensate for my lack of intelligence
3. I gave up my Airbnb business after 6 years

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