This article is part of a 30-day series called the 30 Steps Program to Financial Independence.

As you work towards financial independence, you start realizing that some things aren’t as essential as you once thought. Owning a car might be one of those things. Maybe you bought a car back in college because everyone was doing it, without thinking about the long-term costs.

If you bought the car with cash, going for an older but reliable model, you might have spent around $5,000 initially, plus $500 annually on insurance. And that’s not even counting maintenance, gas, and parking costs, which can add up quickly. It’s even more expensive if you bought your car on credit or are leasing it.

While cars are a necessity in rural areas, in big cities like New York or San Francisco, owning one can seem unnecessary.

I grew up in Paris, moved abroad, and at 32, I’ve only owned a car for seven months in my life. I’ve had numerous bicycles and used to roller skate. Now I prefer walking, taking the train, or the bus because they don’t require my full attention like driving does. If I need a car for a specific reason, like moving stuff or taking a short trip, I just rent one. This keeps my annual expenses significantly lower than if I owned a car.

How much am I saving? I don’t know the exact amount. Not having a car means I only rent one when absolutely necessary, justifying the expense. But let’s break it down roughly: parking in my area could cost $100 a month, insurance was $100 monthly, gas was $80 per month, and I spent $200 every three months on oil changes and minor repairs. Plus, add $20 a month for travel costs like ferries or toll highways, and another $100 for depreciation. That totals $600 a month. If I had bought on credit, it could be upward of $1,000 monthly.

My bicycle cost $500 and is cheap to maintain, maybe $50 a year. I spend around $30 a month on subway, bus, or train tickets. Two big holidays cost $100 each for train tickets, and I rent a car three times a year at $100 each. Over the year, that’s $910, which isn’t even a month’s worth of car expenses.

So, do you want to save over $6,000 a year? Learn to live without a car. Walk, run, cycle, skate, ski, or carpool – do whatever you need to get from point A to point B. If you own two cars, start by getting rid of one. Plan your trips so you can run errands, do grocery shopping, drop the kids off at karate practice, and pick up the dry cleaning all at once.

Work out an agreement with friends or family to borrow their car occasionally in exchange for gas money or another service. I always return a borrowed car with a full tank, which makes people happy and costs much less than renting one.

In the end, you’ll learn to live without a car and your journey to financial independence will be much smoother with significantly reduced expenses.