When I moved to downtown a big city, I bought a Chinese folding bike and it was awesome tool, replacing a good deal of e-scooter and taxi rides. The one I bought in '23 cost ~€250, plus ~€50 for a sprung saddle, long saddle tube and minor accessories. Works very well. Taxi here is cheap, so I haven't yet saved much -- roughly it just broke even, but it saves me the pain of some routes where public transit is inconvenient, and taxi gets stuck in traffic jams.

I remember having mountain bikes and the lycra cyclist fashion norms -- like no road bicycle fenders, no basket -- it looks ridiculous in retrospect. When I lived in a 80K ppl town with fields 5 min ride away, and almost never used bikes as a transport -- almost exclusively for leisure.