The financial aspect was a big factor in getting rid of our car. That was brought home recently when we got checks in the mail with rebates on money that we'd already coughed up for our car. Our insurance company sent us a refund of our insurance (very promptly, I might add) for $436. And the town of Brookline refunded our excise tax to the tune of $25.
Besides buying pizza and ice cream (the default choice for any money that comes our way), I want to look into signing up for a class on bike repair and buy a bike repair stand and maybe a few tools. Being able to do repairs ourselves is a big advantage for us over owning a car (I wasn't good for anything but the very, very simplest repairs to our car, if any). Trips to the bike shop can add up, and now that they're getting more miles, it's important to keep them in good shape.
(I think there still will be some money left over for ice cream.)