Let us just say that we tend to ignore what’s good.
And when it comes to money, we overspend.
Both of these statements aren’t good practices to lead a good life.
In order to make money more appropriately used, you need to aim for both making it and saving it.
And that is what Vincent, from the neighbourhood, can tell us.
“Well, I used to love biking when I was a kid. Back then, I was a lot thinner compared to what I am today. But people still envy my athletic looks and it is because I bike to my work, I bike to gym, and I even bike to my retail store. While it might be a little odd to say that I have not been using my car for five years straight and sold it 2 years ago; I can tell you that I am leading an economically useful life with a happy wife; two children, and our dog Pete.”
Vincent (you can call him Vince) is not a biker. But he just transferred his life from the driver to the biker.
He gave us a statement of his savings from various areas of his life.
We are going to share those points here in this blog.
You Can Save a Lot of Money by Biking
Vincent bought this very bike with a small loan for the unemployed with no fees from a trusted lender while he was a student. He worked in a company as a freelance designer then.
And he says it has been one of the best decisions he made.
Here is why:
- Biking Saves the Cost of Parking
- It Can Help You Save More Money on Maintenance
- You Might Not Need Auto Insurance
- You Waste Almost Zero Money in Daily Transportation
- Biking Keeps You Healthy and Reduces Healthcare Costs
- You Can Cut Down Gym Costs
- Biking Saves Money from Entertainment Fees?
Want to know how a bike makes all of these happen? Read more to find out.
Biking Saves the Cost of Parking
Parking in public areas cost you money.
When you are parking a large vehicle such as an SUV or any sort of four-wheeler in a public space, then you are required to offer a charge.
Probably, you might find areas in the suburbs to park your car at low fees. However, that means you still need to pay for it.
Besides, owning a car also requires you to have a garage.
A garage also needs maintenance costs.
In the UK, parking your car can cost you from 1.10 pounds to 1.65 pounds in an hour.
With bikes, you pay noting of that (not to mention the zero garage fees).
It Can Help You Save More Money on Maintenance
Bike maintenance costs way less than maintaining a car.
We’re just going to put some facts before you.
We found this from money shake:
“According to research by Kwik Fit, the average UK driver spends £1,295.52 per year on car maintenance and servicing. This includes the price of fuel, taking the car to be cleaned, and any repairs or breakdown recovery needed.”
Now, it is the turn for the bike.
According to NimbleFins, your bicycle maintenance cost can vary from just 30 pounds to 160 pounds.
Bikes are required to be serviced once every 3 months to 18 months, depending on how you use them.
You got the statistics.
You Might Not Need Auto Insurance
If you consider insurance for your car, which you have to do because it is an asset, you will spend somewhat 444 pounds as a premium on an average rate.
That is still a lot of money when other car repair expenses, car maintenance and driving costs are added.
If your bike is damaged, you can repair it with 45 to 50 pounds.
In case you want insurance, you can still buy a premium that starts from the same 50 pounds.
Again, you can determine where you want to invest the money had you taken out a small loan for the unemployed with no fees online a few moments ago.
You Waste Almost Zero Money in Daily Transportation
Bikes save the rider in many ways. One of them is reducing transportation costs.
Before you choose bikes, let us look at some scary facts.
You spend somewhat 84 pounds on public transportation fees per month. If you choose a car, then you can spend almost 84 pounds again just on car fuels (don’t even think of the other costs).
With a bike, all these costs are nullified.
And you achieve nearly zero transportation costs.
Biking Keeps You Healthy and Reduces Healthcare Costs
Biking keeps the heart healthy. It helps the mind be refreshed, and it increases your productivity stretch.
It even controls your joints fit.
Regular bikers have a really good time biking and have fewer health problems. This means fewer numbers of visits to the GP and way more money saved in their pockets.
Don’t believe it?
Well, believe The Conversation:
“…cycling to work was associated with a 41% lower risk of dying overall compared to commuting by car or public transport. Cycle commuters had a 52% lower risk of dying from heart disease and a 40% lower risk of dying from cancer.”
You Can Cut Down Gym Costs
With increased cycling, you already take care of your health.
You really don’t need to pay more in the gym for advanced weight training sessions.
Keep your gym fees to the minimum, and bike your way to good health.
Biking Saves Money from Entertainment Fees?
Biking keeps you busy.
It would take you out even on holidays for an off-road trip rather than spending the day on your couch (in the most unproductive sense) dipped in lethargy.
And that can make you feel the ‘dopamine desire’.
So, you cook or buy unhealthy foods and watch your favourite streaming shows back to back until the clock startles you.
That’s not needed, right?
You spend more than 10 pounds in case you subscribe to two different streaming services.
Instead, stick to one service. Make a schedule to watch your favourite show.
And bike more to increase productivity in your bodily system.
Biking is definitely good for health but exercises it with caution.
The first thing you need to do is to bike in moderation.
Don’t exhaust yourself just because you have to save money. If you need help immediately, then you still have financial services such as personal loans for bad credit or personal loans for people on disability benefits or small loans for the unemployed etc.
We might be able to help you with these services.
But that comes later.
Tell us what you think about how biking saves money.
We’ll be happy to hear from you.
Lisa Ann has developed a well-experienced professional career. From managing the staff of more than 50+ loan experts at Fastmoneyfinance to boosting the delivery of various loan offers, she has acquired many challenging roles to come out with the best results for the company. Lisa Ann is a Senior Content Author and the Chief Financial Advisor at Fastmoneyfinance. To back her massive experience in the UK’s financial industry, she has the postgraduate degree and diploma in Business and Finance.