By YOUNG MONEY Staff
25 November 2010

Many young people are opting not to drive, car-sharing service Zipcar reports.

Forty percent of the 18-to-34-year-olds that the company surveyed said they were cutting back on driving in a bid to save money.

For members of Generation Y, the memories of $4-a-gallon gas still resonate - and with the economy still recovering from the recession, a lot of young people are trying to pinch pennies.

Among consumers looking to put their expenses to get the chopping block, driving is an obvious target. Above and beyond the cost of the vehicle itself, a driver must pay for gas, repairs, maintenance and insurance. The latter, in particular, can be costly for the young, inexperienced driver.

In fact, 80 percent of the young people whom Zipcar polled said the cost of driving made it hard to own a car in the current economic environment.

There are myriad options available for the driving-averse young person. Zipcar is indeed one option; public transit is also a smart way to get around from day to day. And bikes have a number of benefits: They provide exercise, use no fuel and have zero carbon emissions.