Experian estimates that the US average new car payment is $523 per month, not counting insurance, gas, parking, and repairs. By not owning a car in the Bay Area specifically, I'll be saving around $14,625 per year, according to Fortune.
There are still times when using a car is the best option, such as when the weather isn't ideal for biking, there's no bus stop within a reasonable distance of my destination, or my cat has to go to the vet.
In those cases, I simply borrow a car from a friend, take out a GIG car share, or summon a Lyft whenever I need a car (though a recent study from AAA found that relying solely on ride-hailing services would cost twice as much as owning a car in a major US city).
If you decide to ditch driving altogether, consider taking public transit, biking, walking, and/or working from home to make car-free living even more economical. You can also save by trying bikeshare programs like Citi Bike or purchasing a scooter.
For many people, owning a car equals freedom, but having the extra cash frees me to spend my money on travel, home improvements, or whatever else makes me happy.