When you really think about it, do you really need a car? In most cities, parking is expensive and scarce. Insurance is expensive, car maintenance is expensive and if you break the law, even in the most minor of ways, tickets and vehicle recovery fees can really mess with your bottom line. Try walking, it will help you get in shape and public transportation can save you an average of $9,200 a year. Most cities have a bike rental system on various streets around the city, so even if you don't have a bike, you're still free to use one at your convenience. A car sharing service is also a great option.

Approximate Savings: $8,000 a year.