How To Pay Nothing for Your Next Home

Cars are expensive.  When you consider the cost of buying one, financing it, maintaining, insuring, licensing, storing and all the  other things you have to do to legally use it, well, it’s a significant part of your income.  I was curious as to how much it really costs to own and drive a car and so I did a little digging.  The best number I came up with is $9,000 per year.  That sounds about right to me.


“Carhenge” by Jacob Kamholz – Own work. Licensed under CC BY-SA 4.0 via Wikimedia Commons.

I grew up in the 1960s and 1970s at a time when everything was cheaper and people made more money relative to today, at least when measured in a common currency.  Back then, most families had one car.  Today, two or more is the norm.  Two times nine thousand  is $18,000 per year for cars. That’s $180,000 over ten years or $540,000 over thirty.  You see where I’m going with this, right?

Now I know that some of you might be thinking that you have to have a car because you have no other way to get around.  I understand, but  disagree.  There are a lot of things you could do.

Like what?  Well, you could move to  a place where you don’t need a car to go everywhere.  There are many places where this is possible.  I know because I spent a lot of time looking for them.  If this is something you want to do , you can shortcut the process by contacting me.  I’ll share with you what I learned.

You could also restructure your life so that instead of having two or three cars you could get by with one and supplement with a bicycle for short trips of five miles or less.    Let’s say you did that.  How much would you save?

  • Elimination of 1 car – save $9000 per year
  • Savings over 30 years – $270,000
  • Cost of decent quality bicycle – $500
  • Net savings – $269,500

The median home in America costs $188,900.  Sell a car and you’ve saved more than enough money to buy a good, decent quality home for nothing. It’s that simple.

Using a bike for transportation makes financial sense.  It also makes sense in a lot of other ways.  It makes you healthy.  It cleans the air you breathe. It brings peace and quiet and sanity to your neighborhood and world.

You don’t have to drive everywhere.  You choose to drive everywhere and you pay a bundle for that choice.  If you’re not happy with where you are financially, you have the power to change things. You don’t need anyone’s permission.   You already have everything you need.  If you don’t like where you are, fight back and get to where you want to be.  It doesn’t get much easier than this.

Bike 5.


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