We dont just talk about weird ways to make and save money here at The Penny Hoarder welivethem.
He was fortunate to evade thedreaded daily commute.
The truck is a beast, long and wide, and has that diesel sound, he points out.
Samantha Dunscombe/ The Penny Hoarder
Its not ideal for driving and parking in the city.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help…
Coelhos wife is home with the kids while hes at work.
They needed a creative solution.
A little more surprising, though?
Its an electric bike.
Did you know?
But Coelho is the first person Ive met to choose anelectric bicycle.
Its the first time Id heard such a thing existed, to be honest.
Why the throttle, instead of good, old-fashioned manpower?
Its too far, and Im not in shape, Coelho admits.
An electric bike is basically the easiest way to get here.
And the bike trumps a vehicle in convenience.
How Much Can an Electric Bike Help You Save?
With no previous daily commute to compare to, the bikes impact on Coelhos budget isnt straightforward.
But its hard to deny hes saving money compared to driving his truck or purchasing a second vehicle.
Lets say he bought a second car: an average vehicle that gets24 miles per gallon of gas.
So, hell save up to $2,212 in his first year commuting with the electric bike.
And that doesnt include the cost of buying a second car.
How Much Does an Electric Bike Cost?
Coelho paid $2,000 upfront for his used bike.
He shopped around and found new models between $3,000 and $7,000.
I dont think Im getting a $7,000 bike, he says, emphatically.
With a tight budget after the cross-country move, the used bike fit his familys price range.
The bike is also cheaper and easier to maintain than abeater carwould be.
In the almost eight months hes owned it, Coelho has spent about $640 in bike maintenance.
The biggest share of it was a $500 new battery.
A factory warranty would save money by covering basic maintenance this stress necessitates, usually for two years.
If he sold the bike now, Coelho estimates he could get about $1,700.
And of course, since the bike runs on battery power, he has to plug it in.
What Happens When It Rains?
A bicycle is fine transportation when the weather is perfect.
And a pedal-optional electric bike is fine even if the heat is sweltering.
But what do you do if it rains?
It does that a lot here.
Ive ridden in the rain, and I just bring my rain gear,Coelho explains.
I imagine Ill ride during the summer and Ill ride during the rain, and Ill ride during everything.
With about 248 annual days of sunshine, St. Petersburg makes an electric bike an attractive option.
Other Things to Consider When Buying an Electric Bike
Coelho mentioned few downfalls to the bike.
Finally, the bike runs on battery power, so you have to keep it charged.
Is that a hassle?
Coelho says not at all.
Theres no need to call someone for a jump or pay for a tow truck.
Your Turn: Would you replace your car with an electric bike to save money?
Dana Sitar (@danasitar) is a staff writer at The Penny Hoarder.
When you log into your bank account, how do your savings look?
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
