Buying monthly bus passes for the year would cost me about $500/year. I ditched the car and started bike/bus commuting two years ago--if I don't spend another penny on my bikes for three more years, I'll be back to break-even with taking the bus every day. Most of that money went for a new bike, tools, and clothing, and I'm pretty well stocked now, so from here on in I'll just be buying consumables and things I want, rather than need.
On the other hand, I've never taken the long way home on the bus just for fun. It's only money, after all. They print more every day.