Podcast Summary: How to Money
Episode: "Biking is a Money & Life Hack (Bestie Ep) #1012"
Release Date: July 21, 2025
Introduction to Biking as a Keystone Habit
In this engaging episode of How to Money, co-hosts Joel and Matt delve into the multifaceted benefits of biking, presenting it not just as a mode of transportation but as a fundamental habit that can transform one’s financial and personal life. They introduce biking as a "keystone habit"—a foundational practice that precipitates positive changes across various aspects of life.
Notable Quote:
Joel mentions, “[Biking] it can be the secret sauce to why it is you and I are so happy, why we're so wealthy. It's because we bike so much” (02:38).
Financial Benefits of Biking
Joel and Matt meticulously break down the financial advantages of biking over driving. They compare the substantial costs associated with car ownership—such as depreciation, maintenance, insurance, and fuel—to the relatively minimal expenses of maintaining a bike. For instance, they highlight that owning a bike can cost significantly less annually compared to a car, citing that the average person spends approximately $10,700 a year on car-related expenses (29:59).
Notable Quote:
Matt observes, “Your car is way more of a drain on your finances than you think it is” (32:36).
Environmental Impact
The hosts underscore the significant environmental benefits of choosing biking over driving. Referencing a study from the University of Oxford, Matt shares a compelling statistic: “Choosing a bike over a car one time a day reduces the average person's carbon emissions by 67%” (26:05). They discuss how even minor shifts from car to bike usage can lead to substantial reductions in one’s carbon footprint, contributing to broader environmental sustainability.
Notable Quote:
Joel expresses astonishment, “I still don't understand how that's possible, but I'm just going to trust the science here” (26:05).
Health and Well-being
Biking is presented as a powerful tool for enhancing physical and mental health. The conversation highlights how cycling regular miles contribute to cardiovascular health, muscle strength, and mental well-being. Additionally, Matt connects biking to reduced healthcare costs, emphasizing that an active lifestyle can lead to fewer medical expenses in the long run.
Notable Quote:
Matt humorously suggests, “A bike ride a day keeps the doctor at bay” (35:07), while clarifying it’s not medical advice.
Community and Lifestyle Enhancements
Joel and Matt explore how biking fosters a stronger sense of community. They share personal experiences of increased social interactions and a deeper connection to their neighborhoods. The hosts argue that biking encourages a more engaged and connected lifestyle, contrasting it with the isolating nature of automobile travel.
Notable Quote:
Joel reflects, “It allows us to enjoy the scenery a little more, too, and enjoy the place where we live” (38:57).
Practical Tips for Embracing Biking
To encourage listeners to incorporate biking into their lives, Joel and Matt offer actionable advice:
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Acquiring a Bike: They discuss options for buying new or used bikes, recommending platforms like Craigslist, Facebook Marketplace, and local bike shops. Emphasis is placed on test-riding bikes to ensure proper fit and functionality (47:13).
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E-Bikes and Cargo Bikes: The episode covers the rising popularity of e-bikes and cargo bikes, explaining how these variants make biking accessible to a broader audience and enhance its utility for tasks like commuting and carrying groceries (49:28).
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Safety Measures: Hosts stress the importance of safety gear, such as helmets and proper lighting, especially when biking in low-visibility conditions or urban environments (56:46).
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Gradual Integration: They advise starting with short trips, like grocery runs, to build stamina and confidence before committing to longer commutes (60:17).
Notable Quote:
Matt encourages, “Start with a little grocery store run this week and see what happens” (60:17).
Overcoming Common Barriers
Joel and Matt address typical obstacles to biking, such as lack of infrastructure and weather concerns. They advocate for advocacy and community involvement to improve bike lanes and facilities. Additionally, they offer solutions for dealing with inclement weather, like investing in waterproof gear and planning routes that minimize exposure to harsh conditions (54:38, 55:22).
Notable Quote:
Joel emphasizes, “Don't let that be an excuse like get on your bike” (58:57).
Personal Anecdotes and Experiences
Throughout the episode, both hosts share their personal biking journeys, including memorable trips like their road trip to Scotland and life changes prompted by adopting biking as a primary mode of transportation. These stories serve to illustrate the profound impact biking has had on their finances, health, and overall happiness.
Notable Quote:
Matt recounts, “I think that was helpful. I don't know that, you know, you should necessarily start from square one, sell your car tomorrow and then like, you might find that your specific situation doesn't lend to becoming a full-time biker, but it's, it's worth” (32:36).
Conclusion: Biking as a Comprehensive Life Hack
Joel and Matt wrap up the episode by reinforcing the idea that biking is more than just a way to save money—it's a holistic life improvement tool. They encourage listeners to take incremental steps towards integrating biking into their daily routines, highlighting the cascading benefits it offers across financial stability, health, community engagement, and environmental stewardship.
Notable Quote:
Joel summarizes, “You're going to be in this vastly superior financial position that most people aren't in, allowing you to funnel your dollars to more productive areas” (29:59).
Final Thoughts and Encouragement
The episode closes with a reaffirmation of the podcast’s mission to help listeners thrive financially and live richer lives through practical advice and lifestyle changes like biking. Joel and Matt invite listeners to reach out with questions and continue exploring how simple habits can lead to significant life enhancements.
Notable Quote:
Matt concludes, “You're going to be happier, you're going to be healthier, you're going to be a little more fit. You'll also bring money back into your life” (60:17).
Listener Engagement and Resources
Listeners are encouraged to subscribe to the How to Money newsletter for more insights and to share their biking experiences. Additionally, the hosts provide resources and recommend tools for those interested in starting their biking journey.
By framing biking as a central habit with extensive benefits, Joel and Matt offer a compelling narrative that aligns financial wisdom with personal well-being, making a strong case for why biking is an essential life hack in today’s world.