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Yeah helping the economy is another benefit. I’d expect that cars would be much more expensive than public transport. You’d have to account for depreciation cost, maintenance and repairs which are usually overlooked when calculating a “single ride”. Insightful comment thanks.
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Feel free to add more bikes!
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I created a geeky spreadsheet and a not-so-geeky blog post for those who consider cycling to work. Here it is:
Beating the Stock Market with... Cycling
People usually get obsessed about how to invest, or the "best place to put their £10k". But they forget that lifehacks like this go a long way. People can in fact make an extra £10k in the next few years if they start cycling.
TL;DR:
For a 5-day commuter:
- Total Savings: £6,876
- 5-year Return On cycling-cost Investment: 294%
- Year 1 cost: £980, £340 every year thereafter
- Public transport cost assumption: £154 per month (ONS says people spend £79.70 per week on transportation.
3-day commuter:
- £3,869 in savings over 5 years
Studies have shown that you also become healthier, more attractive and happier at work. I have definitely experienced the happiness bit.
My stress levels are low and combining exercise with travel time frees up time to write blog posts like this one :)
What do you think? Have I over/under estimated the numbers? What is your commute like?
- Total Savings: £6,876
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Very fancy bike!
Software engineer based in London who has been cycling to work for 3 years, on and off. I have an interest in personal finance as well, and blog on making money, saving money and financial independence on FoxyMonkey.com.