How Much Will I Save Cycling to Work? Cycling to work can be an ideal way of saving money, with train fares skyrocketing and car maintenance expenses skyrocketing, cycling UK and Cyclescheme having conducted research that indicates it could save up to PS750 annually in savings.
Cycling to work can bring health advantages too!
How much will you save?
Rising food and fuel costs have many people searching for ways to reduce their bills, with cycling an easy way of saving money while providing fun exercise that benefits their health and fitness. So how much does cycling to work actually cost?
One quick calculation shows that switching from car to bike would immediately save on fuel costs – potentially hundreds of pounds each year depending on type of car driven and distance covered. Plus, vehicle excise duty savings as well as maintenance and breakdown cover would all increase.
Health benefits also outweigh any inconvenience, with even short commutes by bicycle providing an hour of vigorous exercise that will burn off calories at an astonishing rate – providing your metabolism with an instantaneous boost and giving regular cyclists fitness equivalent to someone 10 years younger!
Though it may not be feasible for everyone to switch entirely to cycling for shorter journeys, those who make the switch can experience significant savings. Utilizing schemes like Cyclescheme allows riders to spread out the cost over 12 months with any necessary accessories deducted directly from pay before tax.
Do you have a car?
Cost of running a car has increased steadily in recent years with petrol prices reaching their highest in five years and rising electricity and food costs putting additional pressure on household budgets. Cycling to work can be an excellent way to cut expenses as shown by research from Cyclescheme – one of the main providers of government’s cycle to work scheme – showing driving will cost an average of PS732 annually while cycling will only set them back PS396 on an annual basis.
But there are other costs associated with cycling as well, including purchasing and maintaining a bicycle (it doesn’t need to be the most expensive model) and clothing; but these expenses still pale in comparison with owning and operating a vehicle.
Apart from financial benefits, cycling can also help you to become physically healthier and fitter. Regular cycling provides an effective cardio workout which burns tons of calories; cycling at speed for 25 minutes at can burn over 300! Furthermore, cycling may help lower risk factors related to heart disease, obesity, type 2 diabetes and cancer.
Studies have demonstrated that cyclists take significantly fewer sick days than drivers or public transportation users. Depending on your job, this could amount to substantial annual savings – in some cases hundreds of pounds in savings each year!
Do you live in a city?
Cycling to work can have numerous advantages: saving money, getting fitter, helping the environment and saving time by bypassing rush hour traffic by opting to ride your bicycle directly to your office.
Driving costs are rising fast; both petrol prices and transport fares have seen increases. London Mayor Sadiq Khan recently announced that travel cards in London will increase by 10% come January and rail fares are likely to follow suit.
Cyclescheme estimates that commuters could save almost PS976 by switching from driving their car to using an affordable bike in the first year of cycling commuting, according to their estimate of savings from switching. Of course, this estimate does not take into account vehicle type or fuel efficiency but serves as an ideal starting point.
Additionally, maintaining and purchasing your bike may increase this figure slightly; however, its initial outlay should not be as expensive. Utilizing it on more trips could really add up in savings over time.
Not to forget, biking to work also provides many other advantages – a free workout (without needing a gym membership!) and one less day spent in the office! Studies have also demonstrated that cyclists take one fewer sick day than non-cyclists.
Read this also: How Many Days Rest Before Cycling Race?
Do you have a bike?
At first, the major expense associated with cycling to work will likely be purchasing a bicycle itself – not necessarily the latest high-end carbon racing machine; you could find something suitable on Craigslist for less than $200 that will do just as well for commuter use. You will also require cycling clothing but that won’t add much cost over driving instead.
Fuel costs should also be taken into consideration, with Kiplinger’s online calculator providing a simple way to estimate savings by opting for two wheels as opposed to driving alone.
Insurance costs will also decrease significantly with proper cover; you’ll also save money on road tax and maintenance. Your employer might even allow you to use the Cyclescheme scheme which can cover part of the cost for buying a new bike! Furthermore, by ditching your car for bicycle transportation you will also help to mitigate global warming by saving around 130kg of CO2 each year while getting in a free workout on the way home each day! Now you know How Much Will I Save Cycling to Work?
