• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Financial Panther

Financial Independence, Side Hustling, and Ebikes

  • Home
  • About
  • Blog
  • Side Hustle Reports
  • Best Credit Card Offers
  • Current Money Bonuses
  • 70+ Side Hustle Apps/Gigs
  • Bank Account Bonuses
  • Ebikes
  • Archives

Save $100,000 By Solving The Last Mile Problem

Last Updated on April 12, 2023April 8, 2017 19 Comments
This post may contain affiliate links. Affiliate Disclosure.This post may contain affiliate links. Financial Panther has partnered with AwardWallet and CardRatings for our coverage of credit card products. Financial Panther, AwardWallet, and CardRatings may receive a commission from card issuers. Some or all of the card offers that appear on the website are from advertisers. Compensation may impact on how and where card products appear on the site. The site does not include all card companies, or all available card offers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

One of the fun things about living in a college neighborhood is getting to see all of the different modes of transportation college kids use to get themselves around town.  If you’ve never spent time in a college neighborhood as an adult, take a weekend afternoon and just hang out in one for a bit.  I promise that you’ll never see so many creative ways to get yourself from Point A to Point B.  Folks travel around on skateboards.  Scooters.  Rollerblades. Basically anything with wheels.  These college kids are masters at figuring out how to get around a city quickly, cheaply, and efficiently.

Non-car based modes of transport that go beyond walking are totally normal in college areas but seem oddly out of place in many “adult” neighborhoods.  I know that when I lived in neighborhoods populated primarily by young professionals, I saw far fewer people using bikes as a primary mode of transportation.  In even fancier neighborhoods, you’ll probably rarely catch a full-fledged adult biking as a means of commuting.

An even more minuscule amount of people use what I’d deem to be “alternative” modes of transportation.  These weird modes of transportation – things like skateboards, scooters, rollerblades, and other non-motorized wheel based forms of transport – are actually pretty common on a college campus.  They’re not quite enough to be a sole form of transportation in themselves, but they do a great job of handling trips between 1 and 2 miles and connecting people to bigger forms of transportation.

These alternative modes of transportation essentially help to solve the Last Mile Problem.  In the world of mass transit, the Last Mile Problem – sometimes referred to as the First Mile Problem – refers to the challenge of getting folks from their homes to a transportation hub and vice-versa.  Think of things like train stations or major bus stops.  Each of these transit hubs has a sort of zone of influence around them.  Generally, that zone stretches out about 1/4 to 1/2 of a mile.  Take a look at the below image:

Last mile problem
A typical zone of influence around a light rail transit stop. Most people won’t walk any further than the green circle to get to the train station.

That green circle is about the limit that a regular person will walk to get to a train station or bus stop.  Any further, and most people will likely opt for a different mode of transportation – most likely their car.  It’s faster to drive, of course.  But it’s also expensive, worse for your health, and terrible for the world.

But college kids, by adopting these alternative modes of transportation, are showing us that the Last Mile Problem can be solved pretty easily and cheaply if we’re willing to think a little bit outside the box.  By being willing to use alternative modes of transport to get to mass transit, that green circle can be extended quite a bit.  I’d say by a mile at least.  Take a look at how much more space that extra half mile can draw.

Last Mile Problem

With major transit stops pretty much spread out throughout any city, almost everyone should be able to quickly commute to a transit hub.  And the savings in solving this last mile problem are pretty big.  According to one study, the average person saves $812 per month by making the switch to public transit for their daily commute.

The Last Mile Problem In Action

My own living situation is a great example of the Last Mile Problem.  I have a bus stop just a block from my house, and that’s what I typically use to get to work in the winter or if it’s pouring rain.  Buses, however, are bumpy and take a little bit longer.  I much prefer the luxury of a train.

The only problem?  My nearest train station is approximately 1.3 miles from my house.  That’s about a 25-minute walk.  Short enough that I could make the walk if I wanted to.  But far enough away that I probably won’t do it.

And here is the problem of the last mile.  This train station that can take me basically anywhere in the city for just 2 bucks (actually less for me because I have a subsidized pass giving me unlimited rides) is so close, yet so far. Faced with the decision of figuring out how to get to that train station or just driving to my destination, I’d probably just opt to drive.

But the amazing thing is that, by using a self-powered mode of transportation that contains a wheel, I can basically cut down my travel time by half or more.  Instead of a 25-minute walk to that train station, wheeling my way over there might only take me 10 minutes.  Suddenly, that far off transit hub isn’t so far away.  And I get the added health benefits of using my own body to propel me to my destination.

Alternative Modes Of Last Mile Transportation

There are so many ways to bridge that last mile beyond just walking or using a traditional bike.  At the outset, I’d like to note that, while a traditional bike is probably the most obvious form of last mile transit, I’ve always thought of it more as a primary mode of transportation akin to a car.  You can bike miles and miles on a bike very quickly.

When I think about last mile transit, I’m thinking more in terms of methods of transportation that you can’t really sustain over long distances.  These are basically methods of transportation that you’re using solely as a means to get yourself to another form of transit.

And, as much as I love biking, I’ve always preferred more compact modes of transport when I’m commuting.  I’ve always hated having to bring my bike onto a train or bus.  I much prefer being able to just walk onto it without having to think about anything.

With that out of the way, here are some alternative modes of transportation that I’ve been observing in my neighborhood that are helping to bridge that last mile:

Bike Share Systems

Without a doubt, bike share systems are my favorite mode of last mile transport.  I’ve written before about what a terrific form of infrastructure these systems are for cities.  Place a few bike share stations in strategic locations and suddenly, you’ve created an entire form of mass transit based solely around the bike.  They also have the added benefit of normalizing biking.  When biking seems normal, more people are apt to do it.

In addition, bike share systems are super cost effective.  For a user like me who uses them at least twice per day, my cost per ride comes out to just 26 cents per ride.  And that’s assuming I only used them to commute to and from work.  My actual cost per ride is much lower considering that I use these bikes for pretty much any short distance trip I take.

You can see just how well bike share systems can bridge that last mile with my own situation.  I have a bike share station just a block from my house.  My closest train station has a bike share station right outside of it.  By having these two bike share stations, that far off train station becomes an 8-minute bike ride away.  And I never have to worry about fumbling with my bike on the way out the door, getting my bike onto a crowded train, or locking it up when I get to work.

A bike share station located right next to my closest light rail stop. A 25-minute walk becomes an 8-minute coast to the train.

If you live in a city, seriously consider signing up for a bike share system.  I promise you it’ll change the way you move around the city.

Skateboards

I’ve always thought of skateboards as a recreational vehicle, but it turns out they’re actually terrific modes of transport to help bridge that last mile.

Take the example of my brother.  A few weeks ago, he came to visit me for my bachelor party weekend.  His flight landed around lunch, leaving him with an afternoon of waiting until I was done with work.  Instead of sitting around at a coffee shop, he hopped on his skateboard, did some Postmates deliveries, and then skated on over to my house in the evening.

What makes the skateboard such a great last mile tool is its compactness.  All you need to do is pick it up and carry it with you.  My brother brought his skateboard with him on the plane.  The downside with skateboarding is that you need to learn how to skateboard.  I’ve tried to skateboard myself, but it’s not so easy for me and I don’t think I’d be comfortable doing it in a street.  I did recently see some kid skateboarding using ski poles.  Not quite sure if it was because he didn’t know how to skateboard or if it was faster, but an interesting move nonetheless.

Notice how the cars are stuck while this college kid on a skateboard glides right past them.

We’re not in the Back to the Future world of hoverboards just yet, but the skateboard will do just fine to get you to where you need to go.

Scooters

There’s a surprising world of scooter commuters.  When I talk about scooters, I’m referring to the kick scooters that you might see kids using.  They look like this:

Last mile problem

This is a surprisingly effective mode of transportation that’s about twice as fast as walking.  I should know.  Back when I graduated college, I moved back home and needed a way to get myself around town a little bit quicker.  One day, I spotted an old Razor scooter I had sitting around in my house and thought I’d try using it in order to get to the subway a little bit faster.

Turns out those kick scooters are awesome if you can just ignore how goofy you might look.  My nearest subway stop was about a 20-minute walk away.  By using a kick scooter, I reduced that commute to a mere 10-minute scoot away.

Like a skateboard, scooters are super compact.  All you need to do is fold it up and hold it.  My scooter even had a strap, allowing me to sling it over my shoulder like a bag.  It was basically no work to carry it onto a train.

And the nice thing about scootering is that it takes no skill.  Anyone can pick it up immediately.  Even learning how to ride a bike takes more time than figuring out how to use a scooter.  If you’re thinking of scootering, you can grab a scooter on Craigslist for as little as $25.  Those of you who are more hardcore will probably want to opt for an adult scooter with bigger wheels.  I’ve personally used a kid’s scooter without any problems.

*For further reading, check out this post on scooter commuting in the DC area.  Interesting stuff.

Rollerblading

I’ve seen a bunch of college kids rollerblading to class as well.  When you think about it, rollerblading is a terrific way to bridge that last mile.  You’re effectively putting wheels on your feet.  When you get to your destination, all you need to do is take those rollerblades off and go back to regular shoes.  Seems like an interesting form of transportation if you know how to rollerblade.

How Much Is That Last Mile Worth?

Think outside the box and you can open up the entire world of mass transit to you.  If you’re fortunate enough to live in a city with good mass transit, any transit station within a mile or two of you can now become accessible if you’re willing to use multi-modal transit options to bridge that last mile.

Since this is a personal finance blog, what we probably care about is how much that last mile is worth.  Here’s a chart from the American Public Transportation Association showing the average monthly and annual savings of using mass transit to get to work instead of a car.

Last mile problem
Source: American Public Transportation Association

Recent estimates suggest that a person can save an average of $9,738 per year by opting for mass transit over a car.  What this means is that, if you’re not using mass transit because you think it’s too far away from you, you’re leaving thousands of dollars per year on the table.

How much are you missing out on?  $9,738 per year over a decade comes out to $97,380.  And that’s assuming we don’t invest that surplus.  If we invest it, that $9,738 can turn into about $143,962 over a decade.  That’s good enough to generate $5,758 per year for the rest of your life!  All that just from spending $75 or so per year on a bike share system.  Or dropping $25 on a scooter from Craigslist.  And don’t forget the health benefits and other external societal benefits that come along with not using your car.

This post may contain affiliate links. Financial Panther has partnered with AwardWallet and CardRatings for our coverage of credit card products. Financial Panther, AwardWallet, and CardRatings may receive a commission from card issuers. Some or all of the card offers that appear on the website are from advertisers. Compensation may impact on how and where card products appear on the site. The site does not include all card companies, or all available card offers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

More Recommended Ebike/Scooters

Check out these other ebikes and scooters I've reviewed:

  • Urban Arrow Ebike – Last year, I made one of the largest purchases I’ve ever made – I bought a $9,000 electric cargo bike from Urban Arrow. In my Urban Arrow review, I will discuss what it is and why I decided to buy this bike, as well as discuss how impactful a bike like this can be on your journey to financial independence.
  • Troxus Explorer Step-Thru Ebike – The Troxus Explorer Step-Thru is a fat-tire ebike that I’ve had the pleasure of riding for a while now. It has amazing power, great looks, and awesome range. If you’re looking for a great fat-tire ebike that offers a lot for the price, the Troxus Explorer Step-Thru is definitely one for you to consider. Check out my Troxus Explorer Step-Thru Review.
  • Hovsco HovBeta Ebike – The HovBeta is a folding ebike with great specs and a lot of interesting features, and importantly, it’s sold at a good price point. I’ve had a blast commuting with it and using it to do deliveries with DoorDash, Uber Eats, and Grubhub. Check out my Hovsco HovBeta Ebike Review.
  • Vanpowers Manidae Ebike – The Vanpowers Manidae is a fat tire ebike that I’ve been riding as my primary winter commuting bike and have also been using it to do food delivery with apps like DoorDash, Uber Eats, and Grubhub. After clocking in a decent number of miles with this ebike, I wanted to write a post sharing what my experience with the Vanpowers Manidae ebike has been like. Check out my Vanpowers Manidae Review.
  • Sohamo S3 Step-Thru Folding EBike Review – A Great Value Folding Ebike – The Sohamo S3 Step-Thru Folding Ebike is an entry-level folding ebike that offers a lot of value for the price point. I’ve been riding the Sohamo S3 for a while now, putting the bike through its paces, and I have to say, this bike has exceeded all of my expectations. Check out my Sohamo Review.
  • KBO Flip Ebike – The KBO Flip is an excellent bike. I’ve had a great time riding it and think it’s a versatile bike that can be used for a lot of purposes and can fit a variety of lifestyles. It’s worked out great for me as a general commuter bike and as a food delivery bike. Check out my KBO Flip Review.
  • Hiboy P7 Commuter Ebike – The Hiboy P7 is an excellent electric commuter bike that’s offered at an affordable price point. The range and speed of this bike are both very good, so you won’t have any trouble getting anywhere you need to go with it. As a food delivery vehicle, this is also good – with how much range it offers, you’ll be able to work all day on a single charge. Check out my Hiboy P7 Commuter Electric Bike Review.
  • Himiway Escape Ebike – The Himiway Escape is an interesting bike for anyone looking for a moped-style ebike. If you’re a gig economy worker, the Himiway Escape is particularly interesting and it’s possible to think of it as an investment, especially if you can opt to do deliveries with the Himiway versus using a car. It’s not cheap, but you can definitely make your money back when you compare the mileage you’ll put on your car versus using an ebike. Check out my Himiway Escape Bike Review.
  • Espin Sport Ebike – The Espin Sport is a good ebike for someone who is looking for an ebike that feels and rides more like a regular bike. There are many ebikes that are really only bikes in name. In reality, they’re basically electric mopeds. The Espin Sport, by contrast, is a bike you could probably ride without the battery and you’d feel like you’re just riding a regular bike. Check out my Espin Sport Review.
  • Varla Eagle One Scooter – The Varla Eagle One is an excellent scooter that can make sense for a lot of people. It can work as a primary mode of transportation. You can use it to work on gig economy apps like DoorDash, Uber Eats, and Grubhub. And it can also be a recreational vehicle if you’d prefer to use it for that. Check out my Varla Eagle One Review.
  • Varla Falcon Scooter – The Varla Falcon is an excellent scooter that offers a good amount of power at a lower price point compared to more powerful scooters. It’s not exactly an entry-level scooter, nor is it a high-powered scooter. I think it fits somewhere in-between those two categories – an intermediate scooter if I had to give it a category. Check out my Varla Falcon Review.
  • Hiboy S2 Scooter – The Hiboy S2 is an excellent entry-level commuter scooter that's perfect for someone looking to save some money in transportation costs and improve their commute. Check out my Hiboy S2 Review.
  • Hiboy S2R Scooter – The Hiboy S2R is one of the more interesting electric scooters I’ve been able to test out. It’s not a high-powered scooter, but for an everyday transport option, it’s very useful, especially given some of the unique features that it has. Indeed, for the price, the Hiboy S2R might be the best value scooter I’ve used. Check out my Hiboy S2R Review.
  • Fucare H3 Scooter – The Fucare H3 is a fun scooter and I’ve enjoyed testing it out. For a daily commuter or quick trips or errands, the Fucare H3 is probably the scooter I’ll use. It’s portable and easy to maneuver, so it’s just easier to take on the road when I need it. Check out my Fucare H3 Scooter Review.

More Recommended Investing App Bonuses

For additional investing app bonuses, be sure to check out the ones below:

  • M1 Finance ($100) – This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $100 for opening an account. Check out my M1 Finance Referral Bonus – Step-By-Step Guide.
  • SoFi Invest ($25) – SoFi Invest is an easy brokerage account bonus that you can earn with just a few minutes of work. Use my SoFi Invest referral link, fund your SoFi Invest brokerage account with just $10 and you’ll get $25 of free stock. I also have a step-by-step guide for the SoFi Invest referral bonus.
  • Webull (20 free stock shares) – Webull's current promotion gives you 20 free shares valued between $3-$3,000 each if you open an account using my referral link. Here’s a guide I wrote about how to earn your free shares using Webull.
  • Moomoo (15 free stocks) – Moomoo is a free investing app currently offering 2 different referral bonuses if you open an account using a referral link. Read my Moomoo referral bonus guide for more information.
  • Robinhood (1 free stock) – Robinhood gives you a free stock valued between $2.50-$225 if you open an account using my referral link.
  • Public (1 free stock) - Public gives you a free stock valued between $3-$70 if you open an account using my referral link.

More Recommended Bank Account Bonuses

If you’re looking for more easy bank bonuses, check out the below options. These bonuses are all easy to earn and have no fees or minimum balance requirements to worry about.

  • Upgrade ($200) – Upgrade is a free checking account that’s currently offering a $200 referral bonus if you open an account and complete a direct deposit. These bonus terms are easy to meet, so it’s well worth doing this bonus as soon as you can. Here’s a post I wrote with more details: Upgrade $200 Referral Bonus – Step By Step Directions.
  • Ally Bank ($100) – Of all the banks out there, Ally is, without a doubt, my favorite. At the moment, Ally is offering $100 to customers who open an eligible Ally account and meet the requirements. Here are the step-by-step directions to earn your Ally Bank referral bonus.
  • Fairwinds Credit Union ($175) – Fairwinds Credit Union is offering a referral bonus for users that sign up using a referral link. Fairwinds has no fees or minimum balance, so this is a particularly easy bonus to earn. Since this is a smaller credit union, my gut instinct tells me this offer won’t be around long, so if you’re in a position to meet the bonus requirements, grab this bonus before it’s gone. Here is my step-by-step guide on how to earn your Fairwinds Credit Union bonus.
  • Chime ($100) - Chime is a free bank account that offers a referral bonus if you use a referral link and complete a direct deposit of $200 or more. In practice, any ACH transfer into this account triggers the bonus. This bonus is easy to earn and posts instantly, so you’ll know if you met the requirements as soon as you move money into the account. I wrote a step-by-step guide on how to earn your Chime referral bonus that I recommend you check out.
  • US Bank Business ($900) – This is a fairly easy bank bonus to earn, since there are no direct deposit requirements. In addition, you can open the Silver Business Checking account, which comes with no monthly fees. Check out how to earn this big bonus here.
  • GO2Bank ($50) - GO2Bank is an easy bank bonus that I recommend people take advantage of if they have an easy way of meeting the direct deposit requirement. I like that it’s easy to open the account and that the bonus pays out quickly. Check out my step-by-step guide on how to earn your GO2Bank $50 referral bonus.
  • Current ($50) – Current is a free fintech bank that’s offering new users a $50 referral bonus after signing up for an account using a referral link. Current is an easy bonus to earn and also gives you access to three savings accounts that pay you 4% interest on up to $2,000. That means you can put away up to $6,000 earning 4% interest. That’s very good and makes Current an account I recommend to everyone. Check out my step-by-step guide on how to earn your Current Bank bonus.
  • Novo Bank ($40) - Novo bank is a free business checking account that’s currently offering a $40 bonus if you open a Novo business checking account using a referral link. In addition to being a good bank bonus, Novo is also a good business checking account. It has no monthly fees or minimum balance requirements and operates a good app and website. Indeed, it’s the business checking account I currently use for this blog. Check out my post on how to easily open a Novo account.
  • Varo ($25) – Varo is a free fintech banking app similar to Chime or Current. It’s currently offering a $25 bonus to new users that open a new Varo account with a referral link. The bonus for this bank is very easy to meet, all you need to do is spend $20 within 30 days of opening your Varo account. Check out my step-by-step guide to learn how to earn this bonus.
financial panther

Kevin is an attorney and the blogger behind Financial Panther, a blog about personal finance, travel hacking, and side hustling using the gig economy. He paid off $87,000 worth of student loans in just 2.5 years by choosing not to live like a big shot lawyer.

Kevin is passionate about earning money using the gig economy and you can see all the ways he makes extra income every month in his side hustle reports.

Kevin is also big on using the latest fintech apps to improve his finances. Some of Kevin's favorite fintech apps include:

  • SoFi Money. A really good checking account with absolutely no fees. You'll get a $25 referral bonus if you open a SoFi Money account with a referral link, and an additional $300 if you complete a direct deposit.
  • 5% Savings Accounts. I'm currently getting 5.24% interest on my savings through a company called Raisin. Opening a Raisin account takes minutes to complete, it's free, and all of your funds are FDIC-insured. I explain how it works, why I'm now using it to store my emergency fund and any other cash savings I have, and why I recommend everyone check it out in this review.
  • US Bank Business. US Bank is currently offering new business customers a $900 signup bonus after opening a new account and meeting certain requirements.
  • M1 Finance. This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $100 for opening an account.
  • Empower. One of best free apps you can use to monitor your portfolio and track your net worth. This is one of the apps I use to track my financial accounts.

Feel free to send Kevin a message here.

Filed Under: S/I, Saving

Reader Interactions

Comments

  1. Charu says

    May 22, 2018 at 6:32 am

    Overcoming the challenges of last mile deliveries is a need of the hour to fulfill the drastically increasing demand of the consumers. For this, last mile delivery software can help us overcome some of the biggest obstacles faced by the courier industry today. Thanks for sharing the above information.

    Reply
  2. Lars-Christian says

    April 12, 2017 at 2:13 am

    Access to mass transit was one of the most important criteria for me a couple of years back, when I decided to relocate from inside the city centre to a suburb. Because the location was picked with this in mind, we’re as well connected to the city as a large part of the populace living within the city limits, being a five minute walk and a 15 minute train ride away from the city central station.

    And we live in a house which, at best, would cost twice what we paid for it. So I’m a huge fan of public transit, as a way of “geo-arbitraging” yourself to better living conditions in decent locations. Within the local community, everything is within walking distance as well, which has made our car all but redundant. And that has resulted in significant savings, as opposed to relying on the car for transportation every day.

    Reply
    • Financial Panther says

      April 12, 2017 at 9:43 am

      That is awesome to hear! And great job picking access to mass transit when figuring out where to live. I always do the same thing, more out of necessity, simply because I don’t have my own car and rarely drive.

      Reply
  3. Troy @ Market History says

    April 10, 2017 at 11:48 pm

    Fortunately in Sydney the public transit is very well developed here. The trains come every few minutes and they’re really clean (unlike the subway in some north a,era am cities).

    Reply
    • Financial Panther says

      April 12, 2017 at 9:49 am

      I’ve never been to Sydney but I’ve heard great things. It’s always a huge benefit when you’ve got access to really good transit like that. Do you find that more people use it then or is there still a sort of stigma with using mass transit? Here in the states, in some cities, people act as if using mass transit isn’t possible because it’s dangerous or something (which to me sounds ridiculous). I have a buddy in Atlanta for example who swears he can’t take the buses or trains there because of danger. I’m always like, really? because that sounds like an excuse to me.

      Reply
      • Anonymous says

        April 12, 2017 at 10:37 am

        While mass transit may no longer be “dangerous” in the sense that you risk life and/ or limb, as it was in NYC in the late 70s/ early 80s, some cities still have a ways to go before folks with alternatives elect to take public transportation over a private car. Atlanta is an example. Their elevated train is called the MARTA (Metropolitan Atlanta Rapid Transit Authority), but look up what Atlantans say it stands for and Google some reviews…

        Reply
  4. Gwen says

    April 10, 2017 at 11:28 am

    Last year I spent $2700 on various auto costs (insurance, gas, oil changes, etc). I would LOVE to be able to take the train, but my area doesn’t have anything like that. Just a bus. And that bus would take me almost 90 minutes to get to work when driving takes me 20. Add in my variable schedule and driving is the only option.

    Hopefully, though, the train to Chicago will be done next year and I can take the train to the city instead of driving myself!

    Reply
    • Financial Panther says

      April 10, 2017 at 7:27 pm

      Admittedly not every city has great transportation. Your options will unfortunately be limited if you’re living far from a city center.

      It’s one of the things I look at when trying to figure out where to live just because I’ve never owned my own car and hate driving. That’d be sweet if that train gets finished!

      Reply
  5. The Luxe Strategist says

    April 9, 2017 at 5:55 pm

    The people who have cars where I live either have families or second homes in upstate NY. And then you spend half the week driving around to find a new parking spot because of street cleaning days.

    As someone who doesn’t have a car, I’m always curious to know how much people are spending on gas, insurance, etc., so see how it compares to a subway pass. For me, it costs $121 per month for a pass, which you can use for the trains AND the bus. I almost never take cabs or anything, unless it’s late and I’m in a sketchy neighborhood. I count my lucky stars the ticket price isn’t distance-based, too. You can literally go from one corner of the city to the other end for $2.75!

    As for your alternative options, I like the scooter one best because it’s the most portable. I see guys in suits here doing it, and don’t think it’s weird at all. For the bike share, how long do you have the bike for before you have to dock it? I tested one out here, and I felt like I was in a stressful video game because you only have 30 minutes to dock the bikes at another station.

    Reply
    • Financial Panther says

      April 10, 2017 at 9:25 am

      The scooter option is great because right, you can do it in a suit! That’s exactly what I used to do and it didn’t seem bad at all. Just make sure you’re not wearing your fanciest shoes while you do it.

      Here in the Twin Cities, annual subscribers get 1 hour before we need to dock it again. I’ve never had a problem since an hour of biking is a pretty long time! 30 minutes is a little bit shorter, but I feel like most people can get to another dock within 30 minutes.

      Reply
  6. FullTimeFinance says

    April 8, 2017 at 3:24 pm

    This morning I was running a search on Google maps for something I didn’t know the exact location not far from work. The results of that Google search proved that carless is not an option. I’m five minutes by car from work. But as a rural resident I’m over an hour by public transit to the same place. Biking would be possible if it was safe, but it’s not (no shoulder blind corner rural roads). If I lived in a less remote area I’d be all over public transit.

    Reply
    • Financial Panther says

      April 9, 2017 at 12:10 pm

      Admittedly, this post was geared more towards city dwellers. If you’re in a rural area, it’ll be harder since transit requires density.

      Reply
      • Jack Catchem says

        April 9, 2017 at 2:46 pm

        Lol. “The Warriors” would have been a very different movie if set in the country…

        Reply
      • LadyFIRE says

        October 18, 2021 at 11:53 am

        This is even a problem in the city… I live in a city but not in the centre. Bike sharing or e-scooters are far and few between… My area is dense. Im 5 mins by foot from a major shopping street. But I guess its just not attractive enough for companies who offer first/last mile solutions, at least not compared to the centre. Strange stuff!

        Reply
  7. Jack Catchem says

    April 8, 2017 at 2:52 pm

    All excellent points FP, unfortunately my neck of the woods is a public transit nightmare. I’ve seen good public transit systems, I love good public transit systems, but Southern California is a ——— nightmare if you don’t have a car. Electric bicycle yes, car yes, but avoid the buses. Also the subway.

    The train system is worthwhile, but it is so Under built its more like a Last Marathon Problem.

    I’m not against public transport, but you have to treat it right. Hong Kong and Tokyo are amazing, Southern California’s is trash and smells like it. ????

    Reply
    • Financial Panther says

      April 9, 2017 at 12:08 pm

      Yeah, I hear a ton from friends living in California that using mass transit there isn’t possible. To be honest, I have no idea if it’s true or not since I’ve only been to So-Cal once. If it’s true, that’s a public policy problem there that should be addressed. Only way to do that I’d imagine is if is more people are willing to step up and demand better transit options.

      Reply
    • MarkinTex says

      October 31, 2018 at 12:40 pm

      Yeah, Houston is like metro LA in so many ways, including public transportation. I live only about 5.5 miles from my office. It’s 16 minutes by car, 33 minutes by bike, and an hour and 15 minutes by bus. Even though going by bike would double my commute time, I’d still consider it on nice days when I wasn’t in a hurry – if biking on the roads between my house and office during rush hour (or any time of the day, really) weren’t borderline suicidal.

      I have a Razor A5 Lux I enjoy riding around my neighborhood and on the hike and bike trail through the greenway along Buffalo Bayou behind my neighborhood with my daughter, and I’m always looking for places in Houston where I could ride it to a real “destination”, but few and far between in Houston, and most of the time I’d have to drive somewhere to get to where I could use it – kinda defeats the point.

      And note to Financial Panther, the two map graphics showing the radius people will travel from a rail station in the University of Minnesota, I think they would have been more impactful if you hadn’t changed the scale between the two. The size of the radius looks to the eye about the same in both pictures. If you had used the second map’s scale for both pictures, the radius would have immediately appeared significantly larger.

      Reply
  8. Matt says

    April 8, 2017 at 12:57 pm

    I live in Denver, where I commute 11 miles to work (each way). I’ve also lived in Chicago and DC (about 10 years combined), where I didn’t have a car and commuted by bus/ rail. Based on my experience the numbers just don’t sound accurate. Could it possibly be that the American Public Transportation Association-funded study’s methodology is just a little biased toward non-car transportation?

    Reply
    • Financial Panther says

      April 9, 2017 at 12:04 pm

      I’m sure there’s a bias towards it considering the mission of a non-profit group dedicated to improving mass transit.

      At the same time though, I don’t think those costs are all that far off. AAA states that the annual cost to operate a vehicle is around $8,698, which doesn’t seem that far off from the amounts listed here assuming you’re dropping a car and going for mass transit instead.

      If it helps, here’s the methodology used by the APTA:

      APTA calculates the average cost of taking public transit by determining the cost of the average monthly transit pass of local public transit agencies across the country. This information is based on the annual APTA fare collection survey and is weighted based on ridership (unlinked passenger trips). The assumption is that a person making a switch to public transportation would likely purchase an unlimited pass on the local public transit agency, typically available on a monthly basis.

      APTA then compares the average monthly transit fare to the average cost of driving. The cost of driving is calculated using the 2016 AAA average cost of driving formula. That formula is based on variable and fixed costs. The variable costs include the cost of gas, maintenance and tires. The fixed costs include insurance, license registration, depreciation and finance charges. The comparison also uses the average mileage of a mid-size auto at 23.1 miles per gallon and the price for self-serve regular unleaded gasoline as recorded by AAA on January 26, 2017 at $2.29 per gallon. The analysis also assumes that a person will drive an average of 15,000 miles per year. The savings is based on the assumption that a person in a two-person household lives with one less car.

      In determining the cost of parking, APTA uses the data from the 2012 Colliers International Parking Rate Study for monthly unreserved parking rates for the United States which is the most recent report available.

      And if it helps, Mr. Money Mustache himself estimated the savings in biking to work over a decade at $93,000. He did include the monetary benefits in increased health, but still, numbers aren’t all that far off from what APTA has listed here, especially if we were to just include improved health into our numbers.

      Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Close
Side Hustle Income(View Reports)
chart-icon
$166,465
Get exclusive content delivered right to your inbox.
My Reviews
Bank Signup Bonuses (Step-by-Step)
Upgrade Bank Bonus ($200) Raisin Referral Bonus ($200) Ally Bank Bonus ($100) Fairwinds Credit Union Bonus ($175) Chime Bank Bonus ($100) US Bank Biz ($500/900) GO2Bank ($50) Current Bank Bonus ($50) Novo Business Bank Bonus ($40) Varo Bank Bonus ($25)
Other Signup Bonuses
M1 Finance ($100) Webull (20 shares) Moomoo (15 stock shares) SoFi Invest ($25) Arcadia Power ($25)
Side Hustle Reviews
Doordash Uber Eats Grubhub Rover Pet Sitting Wag Dog Walker Shipt Grocery Shopper Airbnb Lime Scooter Charger Observa IVueIt
Most Commented
Popular
  • Insight Card: A Step-By-Step Guide to 5% Interest(690)
  • Netspend Account: 5% Interest Savings and $20 Signup Bonus(680)
  • The Ultimate Guide to Bank Account Bonuses(142)
  • Bird Charger and Lime Juicer – Side Hustling As An Electric Scooter Charger(125)
  • My Postmates Review: Getting Paid To Bike Around Town(78)
  • I Quit My Job – Rejecting The Clear Career Path And Going Out On My Own(76)
  • Barista FIRE: Not Quite Financial Independence, But Pretty Close
  • The Reverse Latte Factor – How You Can Side Hustle Your Way To Financial Independence
  • Where To Get 5% Interest Savings Accounts Now That Insight Is Gone
  • Monetize Your Life And Get Paid To Live
  • The Ultimate Guide to Bank Account Bonuses
  • Over 600,000 Miles Earned In One Year – A Recap Of My First Year of Travel Hacking
Image of hands holding up phones
Personal Finance Blogs logo

Footer

Financial Independence, Side Hustling, and Ebikes

Company
About
Press
Media Kit
Contact

Resources
All Posts
Financial Independence
Side Hustles
Bank Bonuses
Ebikes
Deliveries
Articles

Legal
Privacy Policy
Disclaimer
Affiliate Policy

  • About
  • Blog
  • Side Hustle Reports
  • Best Credit Card Offers
  • Current Money Bonuses
  • 70+ Side Hustle Apps/Gigs
  • Bank Account Bonuses
  • Ebikes
  • Archives

Copyright © 2025 · Genesis Sample on Genesis Framework · WordPress · Log in

Financial Panther © 2024 All rights reserved.