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Cycling is an excellent way to save money, especially if you would like to get fit and save time around town. These are some of the ways that cycling can save Money

Bikes are Cheap.

A good commuting bike can be bought for £200 ($400). You can spend less and you can certainly spend more. But a £200 bike will be fine for commuting and getting around town. A well maintained bike can last for upto 40 years. There will be some maintenance costs, but compared to a car these are minimal.

Here I tried to work out the cost per mile of cycling As you can see it is pretty low - 6p per mile and that didn’t include resell value of bike.

Save Bus Fares / Petrol.

50% of car journeys are less than 2 miles; these distances are easily cycleable. With panniers they will be able to carry most of our shopping as well. With petrol and parking costs rising, the bike can provide an excellent alternative for transport.

Save Subscription to the Gym.

The problem with gym membership is that a) they are expensive b) many people then struggle to find time to go. Instead of buying gym membership why not buy a bike and cycle to work. In that way you can get fit without losing too much time from the day. Cycling in the fresh air is also much more invigorating than exercising inside with 10 other sweaty people keen to show off their biceps.

When Does Cycling Become Expensive?

Cycling becomes expensive if you become a keen racer, or wish to view cycling as the latest fashion accessory. Cycling is expensive when you start buying carbon fibre wheelsets for over £1,000.

The bike is well known as a cheap and environmentally friendly type of transport. These are some tips to get even better value for money from your bike. These tips may not  necessarily apply to the keenest cyclists (like me) who think nothing of paying £500 for just a back wheel. But, for most people these are some simple tips to get even better value for money from your bike.

1. Puncture Proof Tyres.

These armadillos are not completely puncture proof, but, they are very robust and I have experienced a dramatic fall in the number of punctures on my commuting bike since I have started using them. They are heavier and a bit slower than the average tyre. But, for most people the slight fall in speed is well worth the improved puncture protection. Not only does it save the cost of buying new inner tubes, but also the inconvenience of having to mend a puncture.

2. Look After Bike.

If well maintained, a bike can provide years of service. To keep the bike in good working order, it only requires basic looking after. Where possible protect from rain; if necessary build a suitable outdoor shelter. If the bike has been exposed to rain, give it a good spray with a water repelling spray such as WD-40. This will help prevent the bike rusting.

3. Don’t Lose It.

The biggest cost associated with cycling is the cost of having to buy a new bike because your existing one gets stolen. Don’t be one of the depressing statistics; take the necessary precaution to lock in a secure way. Avoid leaving in a hidden place where it could be lifted up and put in the back of a van. Buy a good lock; it is recommended to spend up to 10% of the bikes cost on a lock.

4. LED Lights

For some reason cyclists are reluctant to use lights, even when dark. However, if you use the new LED lights, the batteries will last for hours before needing replacing. If you commute a lot in the dark, buy rechargeable batteries. But, light is not and area to make some false savings.

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Cycling has often been voted as one of the most popular inventions. Cycling gives a sense of freedom, improves our health and fitness and also

1. Bikes are Cheap.

You can buy a good town bike for £150 ($300) If you compare this to the cost of buying a car, there is no comparison. If you do a lot of cycling you may want to spend more £300 - £400. However, it is not obligatory; also a good bike can easily last at least 10 years, if carefully looked after.

2. Bikes are cheap to maintain.

Many people have a bike rusting away in the garage because they are not able to repair a flat tyre. However, the cost of bike service is generally fairly low. You won’t get charge $80 an hour like you would in a garage. However, many of the cycle repairs are not that complicated to do yourself. For example, with modern quick release tyres, mending a flat tyre is relatively straightforward.

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Suggestions to make the most of any potential tax savings related to cycling. These are 5 tips which will help to reduce your tax bill (as well as your waist line)

1. Rates and Allowances – Travel for Work

If you use your bike for work a tax free mileage rate can be paid by an employer to an employee for all business miles. Unfortunately that won’t include the mileage getting to work from home but 20p a mile soon mounts up (in both senses).
Below is a list of the current rates allowable. Even if your employer won’t pay that mileage rate and you travel qualifying miles you can claim 20p or the difference to make it up to 20p on your annual tax return.
Approved mileage rates

From 2005/06 First 10,000 business miles in the tax year Each business mile over 10,000 in the tax year
Motor cycles 24p 24p
Bicycles 20p 20p

hmrc link

You don’t need to pay national insurance or put it on a P11D either. link

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