How long is it until your bike pays for itself?
Discussion
I think that I am saving lots of money, on fuel, parking charges, wear and tear on the car and so on, by riding my bike. I haven't set up a spreadsheet yet in order to work out exact numbers, but I reckon the bicycle I bought in Febuary for about a grand, has probably paid for itself now. How long would you estimate a break even point would be achieved for your current bike(s)?
Can't imagine it ever will pay for itself in terms of money saved on journeys as I only ride it for fun. As such it is a bit of a money pit requiring replacement parts and upgrades. That said in terms of enjoyment and my improved fitness I would say it has paid for itself 10x over - SWIMBO might disagree very strongly though!
I've cycled since October last year. Allowing a few weeks off for Christmas, holidays, and training, I think I've ridden to work over forty weeks. Train fare would have been £8.40 per day, so £33.60 x 40 = £1334.
I have easily spent double that on kit and a new bike. However, when you count the cost of the lyposuction I would have needed to shift the stone and a half which has vacated my belly in that time, I'm quids in!
I have easily spent double that on kit and a new bike. However, when you count the cost of the lyposuction I would have needed to shift the stone and a half which has vacated my belly in that time, I'm quids in!
Bbunter said:
I think that I am saving lots of money, on fuel, parking charges, wear and tear on the car and so on, by riding my bike. I haven't set up a spreadsheet yet in order to work out exact numbers, but I reckon the bicycle I bought in Febuary for about a grand, has probably paid for itself now. How long would you estimate a break even point would be achieved for your current bike(s)?
Why don't you do an spreadsheet then? I keep a spreadsheet on google docs and update it after every commute.
Since June of last year, I have saved £1087. This has effectively paid for one bike and the first lot of accessories. I have another spreadsheet from 2010/11, but this got lost when my old work laptop went bang
My original Giant Defy 2 cost me £625 and I probably spent another £200 on initial accessories. Obviously I've bought more kit since then, but most of it is geared round commuting and keeping me warm and comfortable. I try not to go too mad on kit as it can eclipse the money saved by commuting by bike!
Never....
My first bike saved me money. It was a cheap MTB for running around town on.
The next five cost increasingly large sums, the last one is worth about 8 times what my car cost (admittedly it was a cheap car).
From here on in it's down the financial rabbit hole with no end in sight...
My first bike saved me money. It was a cheap MTB for running around town on.
The next five cost increasingly large sums, the last one is worth about 8 times what my car cost (admittedly it was a cheap car).
From here on in it's down the financial rabbit hole with no end in sight...
Costs directly attributable to the condition of type 2 diabetes are (according to the American Diabetes Assoc, could not find UK costs) £8,500.
Given that by riding your bike you massively reduce your chances of developing said condition I'd say that justifies spending at least £6,000/year.
64% of the population of the UK are clinically obese, the latest research* shows that pollution levels are higher inside cars than outside - so you are reducing risks of emphysema, asthma etc, so the question might be better asked how much money would you pay, on top of what you spend now, in order to ride your bike?
I genuinely, no question, look forward to my commute every day - I'd challenge the majority of the UK to be able to say that.
Given that by riding your bike you massively reduce your chances of developing said condition I'd say that justifies spending at least £6,000/year.
64% of the population of the UK are clinically obese, the latest research* shows that pollution levels are higher inside cars than outside - so you are reducing risks of emphysema, asthma etc, so the question might be better asked how much money would you pay, on top of what you spend now, in order to ride your bike?
I genuinely, no question, look forward to my commute every day - I'd challenge the majority of the UK to be able to say that.
- http://road.cc/content/news/129814-testing-mps-reveals-worst-air-pollution-inside-cars
bakerstreet said:
Bbunter said:
I think that I am saving lots of money, on fuel, parking charges, wear and tear on the car and so on, by riding my bike. I haven't set up a spreadsheet yet in order to work out exact numbers, but I reckon the bicycle I bought in Febuary for about a grand, has probably paid for itself now. How long would you estimate a break even point would be achieved for your current bike(s)?
Why don't you do an spreadsheet then? I keep a spreadsheet on google docs and update it after every commute.
Do you upload your ride to Strava first or crunch the numbers?
Saves either train fare (£4.50) or petrol (circa £5)
X4 times a week = £20
X52 weeks = £1040
All Man Maths, obviously. I don't cycle in every day (hence x4) and certainly don't cover 52 weeks of the year. But still, the (last) bike is a year old and cost a grand so it's now paying for itself.... Kind of.
X4 times a week = £20
X52 weeks = £1040
All Man Maths, obviously. I don't cycle in every day (hence x4) and certainly don't cover 52 weeks of the year. But still, the (last) bike is a year old and cost a grand so it's now paying for itself.... Kind of.
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