Imagine an invention that makes people more muscular, in a better mood, reduces transportation costs, extends life expectancy, combats excess weight, eliminates the need for gym memberships and finding time to work out, helps solve traffic congestion, eliminates parking problems, reduces taxpayers’ mobility expenses to almost zero, and is pleasant to use, eliminates noise pollution and fine particle emissions, reduces the risk of heart disease, dementia, and the need to use hospitals, encourages socialization, develops the autonomy of children, adolescents and seniors, in addition to giving us a better complexion and making us more attractive to a current or future partner.
Oh yeah, and imagine that this invention also combats the problem of the billions of dollars we give each year to fossil fuel producers. And that it reduces the release into the atmosphere of gases that dangerously and forever warm the only habitable planet in our solar system.
How much would such an invention cost? Probably a few million, right?
Would you believe me if I told you that it only costs a few hundred dollars? And that in Montreal, Laval, Longueuil, Boucherville, Terrebonne, Westmount, Mont-Royal and Montreal East, this invention is already available in 10,000 copies on street corners, 24 hours a day, ready to permanently enrich the life of anyone who brings their smartphone near it?
I often try to give advice here on how to reduce your expenses.
It’s easy to fall back on clichés. Stop buying coffee outside. Eat less at restaurants at lunchtime. Choose a less expensive motor vehicle.
But there is a much better way to reconcile money and happiness. If it were a pill, many people would be fighting over it – and rightly so.
The bicycle is often not seen as a money printing machine. But it should be.
In Quebec, we often think that cycling is only good for people who live in the city. And it’s true that cycling is perfect for short and medium distances, say less than 10 kilometers.
The good news? The 13 million Canadians who drive to work travel a median distance of 8.7 kilometres in each direction, according to Statistics Canada.
Does the commuter who drives 50 miles to work exist? The mom who drops off the entire soccer team in the middle of nowhere? Of course they do, and they need a car. But those cases are a minority of trips. The majority of trips are short.
Also, many people see cycling as a means of transport for young people in excellent physical shape. This is all 100% cultural and variable: in places in Europe where cycle networks have been prioritised since the 1970s, it is common to see elderly people doing their shopping by bike in small, medium and large cities.
Age has never been a factor in my mind. Along with walking, my bike has always been my main mode of transportation. That was true when I was 15 and it’s true today at 47. In the country, in the suburbs or in the city, it makes no difference: I use my bike like I use my eyes, my hands or my legs.
And for longer distances, or for people who are less fit, the electric bike is revolutionary. You can get to work without breaking a sweat, even when going up hills on hot days. There are hundreds of electric bikes on Kijiji or Marketplace, with several models under $1,000. There are also used trailers that can transport children, groceries, etc.
I think one of the barriers to using a bike is psychological. Many tasks in our day are automated. So when we want to go somewhere, we reach out to grab our set of keys.
Even if it’s 25 degrees, the sun is shining and we’re about to move a 2000 kg metal and glass crate to drop off a 23 kg child 4 kilometres from home.
I understand that people live on roads where the speed limit is 70 km/h or 90 km/h with a lot of traffic and which do not allow cycling. That said, the majority of people live in an environment where quieter roads exist, and where cycling is safe.
In fact, it is not using the bicycle which is dangerous.
Eight out of ten Canadians suffer from a sedentary lifestyle, a condition that is conducive to the development of various cancers and cardiovascular diseases, the two leading causes of death in the country.
Cycling eliminates sedentary lifestyles. It’s that simple.
I know the people reading this column are interested in big money. So I’m going to stop beating around the bush and talk about the real deal.
Driving a motor vehicle burns 70 cents per kilometre in operating costs, which include depreciation, wear and tear, gasoline, maintenance and insurance, according to the Canada Revenue Agency (CRA).
A 5.4-mile morning and evening bike or e-bike commute, five days a week, yields about $274 in savings per month.
Maintained six months a year, this habit generates $23,000 in savings per decade, when we calculate a 7% return on our investments.
Over a career that can last from 20 years to age 65, taking up cycling during the nice months of the year could make us $500,000 richer. And I’m not including the health benefits here.
This is just the beginning. Perhaps the person who integrates cycling into their daily life will be able to do without a second car. Or choose a cheap second-hand vehicle that will be used less often.
Since many vehicles are financed (I’m breaking out in a cold sweat just writing this), this person could, at a conservative estimate, get away with not having a $500 per month car payment – according to JD Power Canada, the average monthly payment for a new vehicle is currently $880.
An amount of $500 per month invested from age 20 to age 65 yields $1.8 million if we estimate an annual return of 7%.
Millionaires, strong, and healthy, simply by pedaling part of the year.
I can’t imagine giving that up.
Question of the week: Do you use your bike as a means of daily transportation?