0n ya bike to cash in on serious savings

I AM the proud owner of a positive cash flow pushbike. Well, perhaps more “positive savings flow”.

It doesn’t generate extra money, but has paid for itself since I purchased it in January and now saves me even more.

The idea came to me while sitting in traffic, watching a green light turn amber and then red in the distance, despite the fact I had not moved an inch since the last red light.

I was spending two hours a day in traffic, just to pay $ 17 for early bird parking, $ 10 in tolls and $ 10 a day in petrol costs; $ 185 a week all up just to have a bad time.

In many world cities one could simply jump on a cheaper, faster public transport system and be whooshed off to work, but unfortunately, Sydney’s public transport takes as long as driving and is only marginally cheaper.

Where I live, public transport to work would require a bus, a ferry and finally a train or 40- minute walk.

In the interest of fitness, both physical and fiscal, I decided to purchase a modest, affordable pushbike, which I could ride to the wharf and lock up, before ferrying to the city and doing the 40 minute walk.

I bought a decent bike for $ 500 ( I won’t be winning Le Tour on it, but it has what I need) and spent another $ 150 on helmet, lock, lights and pump.

The ride to the ferry took 15 minutes – faster than the bus – and the ferry fare of $ 6.50 each way meant I had saved plenty by the time I got to the city. The 40 minute walk was actually quite enjoyable.

In total, I was at work in 75 minutes – roughly the same as when I drove. But rather than spend $ 37 a day to do so, I had spent $ 13. I also used the ferry ride to clear some emails.

A $ 24 saving each day added up to $ 120 a week, meaning it would take just six weeks to recoup the cost of the bike. Now here I am, seven weeks later, with a positive savings flow pushbike. I think I can estimate savings of $ 100 a week – more than $ 5000 a year – thanks to my bike.