4 Ways Riding A Bike Will Save You Money
It is a sad fact that the cost of living in Australia only increases with each passing year. Finding creative ways and means to lower expenses and save money is one of the more reliable ways to manage a limited budget.
Beat the price hikes in petrol and public transport costs and make your bike your best friend. Compared to using public transport and driving to work, the costs of riding a bike are relatively low. For example, whereas the Myki system costs Melbourne residents an average of $37.60 per week, maintaining a bike amounts to around $20.50 per week in travel costs. Opt to ride a bike instead of driving and save money with these budget-friendly methods.
1. Beat petrol price hikes
It’s no secret that petrol prices have been steadily rising in recent times. This is a result of high exchange rates, price increases in global crude oil, and high gross retail profit margins. Riding your bike to work and driving less means you can avoid the hefty fuel prices at the petrol pumps.
2. Save on car maintenance expenses
Keeping a car on the road can be a drain on your monthly budget. Australian motorists can spend up to thousands of dollars every year in car-related expenses such as insurance, mechanical repairs, registration and toll fees.
3. Avoid annual adjustment changes in public transport costs
Public transport costs can leave huge holes in a household budget. For 2018, Public Transport Victoria increased public transport fares by 4.7 percent. Ride a bike, and you not only pay less in travel costs, but you also avoid late transport, limited services, and long waits.
4. Ditch the gym membership
Why pay pricey gym membership fees when you can exercise for free? Cycling to university or work offers savings in commuting expenses and provides desirable benefits to your mental and physical health.
Don’t let the increase in living expenses hold your household budget to ransom. Ease the financial pressure by finding smarter ways to save money such as riding your bike instead of driving a car.