Initially, I probably didnt save much. I bought clothes, bags and other gear - those expenses probably offset any savings. Now, I'm pretty well stocked up on gear and only need to replace things that wear out. I've lost 30lbs and feel much better now than before I started - there's no price tag on the health benefits. Now, my commute is the highlight of my day. When I have to drive, that is not the case. I wouldn't completely discount the gas savings despite your compensating bike expenses. If you're like me, most of the bike gear you bought, you would have bought for recreational riding anyway.