Saving money in the great 21st century recession.

[silverbow]

I was wondering how much money we are all saving by commuting by bicycle. I just read on the forum that some have spent £1000's on their bikes and so the net gain is likely to be an initial loss, but they still have the asset and it will/should last years.

I returned to bicycle commuting this year after a 14 year break, and of course wonder why I stopped.... Admittedly I spent 8 of those years walking across London (commuting, I wasn't lost!)

We (the current Mrs Silverbow and I) see no reason to keep a second vehicle if I'm going back to cycling to work and it would now seen pretty much everywhere! This started me thinking how much my vehicle would cost just to sit outside. Total is a staggering £795.00 plus around £350 in diesel commuting costs I'm in for £1145.00!

I've spent £550 on a soon to be collected new to me (second hand) commuting bike and lights, LOUD cycling gear and better tools and pump.

So I'm still up by circa £600 - that’s a lot of tyres, chains and extra bits I just 'need'!!!

Oh and I will probably drop the £600 gym membership!

Anyone else keeping/getting fit by cycling to work and saving a nice tidy sum?

 

[LLB]

All that money you save can be squandered on another foreign holiday - we generally live up to the resources at our disposal

 

[janm399]

I'm not sure I'm saving money by commuting on my bike. Probably not, because the bike costs quite a bit and I tend to eat more after I get home/to work.
Still, even if I could drive to work for free, I would not do it. I love the freedom on the bike. And I use the commutes as training for summer events.

 

[Eat MY Dust]

I spend a lot on cycling but even then it's dwarfed by the £2500 Mrs EMD spends on her train pass every year!

 

[redjedi]

I don't drive, but I save about £5 a day on buses and overground. Over a year that's over £1000 saved.

But even once you have a decent bike, there is always something else you need like new clipless shoes, lights, computer, clothes....etc.

If your carefull on what you buy you can save money, but I don't think I do.

 

[hackbike 666]

I don't really think how much I spend although I have just splashed out on four more Kenda innertubes.As i've cut down on the booze I reckon im saving money anyway.

 

[silverbow]

I don't drive, but I save about £5 a day on buses and overground. Over a year that's over £1000 saved.

But even once you have a decent bike, there is always something else you need like new clipless shoes, lights, computer, clothes....etc.

If your carefull on what you buy you can save money, but I don't think I do.

You may well be right. Also, the 'need', whom ever it is created by, for super light components, usually means they wear quickly, and so maintenance costs can be expensive. Back in the day when I was at college and an apprentice I used a road bike with a 3 speed hub, steel rims, side pull breaks, steel mudguards, dynamo etc to commute on. I did this commute 10 miles eachway for 5 years (20k+ miles). Servicing costs where tyres and break pads and a new can of 3 in 1.

It wasn't the quickest or the coolest but it just keep going and for nowt!

 

[Arch]

The alternative for me, day to day, would be walking, so I don't save anything really.

 

[hackbike 666]

I don't really look on it as saving money as it's my main mode of transport and yes I can basically use the train for free on my commute as I have a residential pass.Already paid for.

 

[palinurus]

I used to save money when I had one bike and used it to get to work.

 

[DJ]

I kind of kid myself about saving money, As others have said I spend a lot on equipment, gadgets for the bike etc. I initialy saved money by not replacing the car, but then as I got more in to cycling that profit has dwindled and if I add the cost of traveling by public transport then I am sure I spend almost as much, what I can do is not spend anything on commuting in one month, by simply not spending any money on the bike.
I still feel smug about owning a bike rather than a car as what it does do is free up my finances, I don't have to go and buy road tax or an mot, which are things that are unavoidable if you own a car.

So ye cycling makes me feel good, green, ethical and smug, so there that's why I do it.

 

[fossyant]

I still have my car....sits on the drive and only did 2500 miles last year....

I ride to keep fit and to get to work/home on time, and to be able to go fast at weekends on the nice bikes...nothing worse than grovelling up big hills when you are supposed to be out on a 'fun' ride.

Moving jobs nearly 2 years ago, coincided with commuting by bike (I had a plan) and it saved me £3,500 in petrol, but I've spent a small fortune on bike kit, and not even bought a new bike.

I think I've spent over £200 on bike kit so far this year......OK some birthday pressies.... and very little of it was essential.

 

[Downward]

Saving £70 in 09 on Car insurance reducing mileage and taking off buisness mileage.
Save £2.30 ish per day in Petrol - Although this is because petrol is a lot lower than back in July.
So in Petrol I hope to save £300 in 09, £80 in 08 (Since August) and add the £70 on Insurance.
Bike cost £450
Various bike purchases £350

Total £800 spent

 

[hackbike 666]

No car has saved me money for years.I think.

 

[HLaB]

I can spend quite a bit on my bikes some months but I can also have months when I spend nothing or almost nothing; when I was taking the train the spending was continuous. If I had the patience to sit in congested roads I'm sure a car would be a chore too, the constant spending on petrol alone. I also feel better spending money on something I enjoy rather than a chore.