My Last Name Means Money

Photo credit to pasotraspaso.

Over the past few weeks we’ve discovered there is only one sure aspect of our current economy, and it is that we are in uncertain times. Some analysts believe we’re on the verge of hyper-inflation, others believe we’ll likely see deflation, while still others foresee stagflation on the horizon. Uncertainty is the one constant we have now and in such uncertain times it is wise to cut spending, invest in self-sufficiency and hold at least a small reserve of cash, food, and water at home. Now, Mr. Money does not believe we should all put on our tinfoil hats and jam on the panic button, but being cautious is never a poor decision, especially in uncertain economic times. It is not only in that light but also in general that Mr. Money brings to you today’s tip.

Buying a used road bicycle is one of the single best investments a capable person can make. By capable I refer to those of us fortunate enough to have full control over our muscles and limbs and in good enough shape to move. Obviously, if you have a pre-existing medical condition consult with your doctor before buying a bicycle or venturing into any new strenuous activities. In fact, the best and safest thing to do would be to consult with your doctor no matter your perceived current health.

Assuming you’re fit enough and of sound mind, a used bicycle can easily and quickly pay for itself. Even now, with a heightened demand for bicycles due to high gas prices a good used bicycle can be found for $100 to $400. It might seem like a lot of money but if you replace driving with pedaling you will quickly recoup the upfront cost. In fact, a few months into biking your improved health, decreased dependence on fossil fuels, and increase in confidence will match and possibly surpass nearly any other investment you can make. The ROI is literally off the charts.

Photo credit to bamse16.

Mr. Money sees many of his friends, family and even strangers take a great interest in their wealth, but few seem to carry over the same concern to their health. At its core, health and wealth are both economic decisions. To pursue wealth while damaging your health is simply a poor economic decision. Consider your body and mind as investments. Just like you can take a pile of cash, tuck it under your mattress and forget it, you can do the same to your body by ignoring its maintenance. In both cases, inflation will slowly decrease the value of your pile of cash and your body. Regular exercise, a proper diet and moderation are like a high yield savings account for your body. Taking care of yourself is essentially a guard against inflation.

So we return to the bicycle. Mr. Money sees many, many commuters who are either frustrated sitting in traffic or absent minded, moving their boxes on wheels from point to point without enjoying the journey. Too many times we consider our lives based on achievements rather than enjoying each day. Many of us simply do not consider how much of our day we waste performing activities we do not enjoy. It is for these reasons that Mr. Money quit his day job, abandoned the car and public transportation, and bought a bicycle and began riding it everywhere while enjoying life every day.

In April of this year Mr. Money purchased a used single speed Shogun from the non-profit used bike shop Bikes not Bombs in the Jamaica Plain neighborhood of Boston for $350. Since then, I’ve easily saved that much money by not spending it on insurance premiums, gasoline, public transportation fees, gym membership and by making more frequent trips to the supermarket I’ve had less food spoil and get thrown out too. Though I’ve had to spend a few extra hundred dollars on supplies and repairs for the bicycle (new tires made from Kevlar, extra tubes, lights, helmet, etc.) I’ve still saved money over the past seven months.

In addition, I’m in much better shape than I was in April, have gotten sick much, much less frequently and overall have more energy each day and actually enjoy the journeys to my destinations, rather than simply sitting in a car, bus or train wasting time. Not only does my bicycle save me money, but often it also saves me time too! Mr. Money lives in the fine City of Boston, which is small enough that a bicycle is often the fastest mode of transportation! My bicycle can get me to nearly anywhere in the city in under 30 minutes, which is a feat rarely achieved by car or public transport!

Even when the bicycle takes a few more minutes than other forms of transportation, you’re still getting exercise in and essentially moving for free (or very, very close to free) while also having time to enjoy the sights. If you do not own one yet, Mr. Money highly, highly recommends you save up enough cash and purchase a used bicycle as soon as possible. It is literally one of the best investments you’ll ever make!