How I saved £1500 and a month of my life
Regular readers of this blog and my comments on other blogs will be aware of my love for the ultimate quick and cheap commuter motorbike I use everyday.
When I first moved with with my partner and moved out of the city center, it imposed upon me a necessary commute for the first time in my life. The key considerations were cost and time involved, with enjoyability a close 2nd. I’ve previously discussed the negative impacts of a long and stressful commute, so was keen to avoid becoming one of those statistics.
While I would love to be able to measure my miles-per-calorie in the form of cycling to work, the distance/time required would make too much of a dent into an already busy lifestyle and I wouldn’t risk cycling along some of the main roads required for my journey.
Being the calculated guy I am.. I figured it was best to work out the costs in both wealth and time associated with the options.
The Bus
I have a very strong love/hate relationship with public transport. At times in my life it has been a godsend, providing quick transportation while leaving me to free to concentrate on other activities. However on the other hand I hate having to rely on things which are out of my control. If the bus is late.. you’re late. If the bus company raises the ticket prices.. guess who has to stump up the extra cash. It can be miserable stood waiting at a bus stop in the rain wondering when (if) the next bus will show up!
My local bus costs £5 for a return ticket, and took at average time of 50 minutes each way (plus 10 minutes waiting for it to arrive). 5 days a week at 48 working weeks in the year gives a cost per year of £1200 and 480 hours.
The Bike
Unlike most bikers i know, I didn’t grow up with a love for motors or a need for speed. Instead my decision was influence purely by time and cost considerations. In the UK, you can ride a 125cc bike after a half day training course and only a helmet required for gear. I found an online dealer selling brand new cheap imported bikes and had it delivered the same day at no extra cost. It gets 100 miles to the gallon and requires very little in the form of maintenance. The initial start-up costs were:
Cost for first year: £1264
Costs for following years: £414
And the best bit about being on 2 wheels is never being stuck in traffic! The ride into work takes me no longer than 25 minutes each way, no matter how busy the traffic is.. Total time for the year: 200 hours.
Although the initial expense was high, the bike pays for itself within the first year and saves massively each subsequent year. It’s been almost 3 years since I first started commuting on the motorbike so comparing the 2 options:
Bus: £3600 + 1440 hours
Bike: £2092 + 600 hours
Total Savings: £1508 + 840 hours
That’s an insane amount of money to save on the commute! And over a month in total time not spent stood in the rain or stuck in traffic. I ride the bike all year round and in all weather unless it’s snowing heavily and the office is closed. Eventually it will need replacing however I expect to get a good few years of use out of it yet.
Additionally; having your own form of transportation provides a huge amount of flexibility. I’m able to stay later at work if I’m in the middle of a large project or nip off early if everything is quiet. Plus it becomes only a small divert to swing by the hardware store if required on the way home, saving a 10 mile round trip just to pickup minor DIY items.
How much do you spend on your commute? And how much time of your life is spent sat in traffic? Let us know in the comments below.
12 thoughts on “How I saved £1500 and a month of my life”
Mate, what city are you in again? The Underground ROCKS in London! I couldn’t believe I never had to wait more than 3 minutes per train. Chicken Shashlik Bhunna on Brick Lane!
Well done saving money on transport.
Sam
City near London but not London itself. I agree; the underground system is amazingly fast (When they’re not on strike!). Unfortunately it’s the buses and regular trains in this country which are so slow/expensive.
I was more amazed by the amount of time saved calculated over the past 3 years than the money. That’s a month worth of free time saved!
Hi,
I’m a public transport fan – partly (well maybe mainly) because I have never learned to drive. But there’s other reasons too – I find a bus or train ride so much more relaxing than I would having to drive to work and I also like the smaller carbon footprint it gives me.
You’re very right about the cost though. I pay around £600 a year which a lot less than you but it still feels quite pricey to me as I spent some years in Sheffield where the public transport is very much cheaper. What we need is a government transport strategy that encourages the best use of our roads, rail and resources. That has to include cheap, reliable and efficient buses and trains. Maybe one day it will happen :-)
Hi Cerridewn,
Funny you should mention Sheffield; I went to university there and fondly recall the 50p fares! I find it difficult to relax on public transport; I’m forever checking my watch or looking to check which stop we are at.
My parents emigrated to France recently and the train system on mainland Europe is fantastic. Reliable and cheap despite traveling much further average distances in the UK. Clearly something has to change over here.
Nice looking bike. Does your weather allow you to ride the motorcycle year round? We have long and harsh winters where motorcycle/bicycle are pretty much out.
Luckily my commute is zero since I work from home. In about 1 month it will be 1 year since leaving my old job, taking a sabbatical and starting working from home.
Nice work on the cost savings!
I managed to ride it almost all year round. We only get about a week’s worth of snow here and when that happens all the buses get cancelled anyway so it’s a work from home week. It can get pretty miserable when it’s cold and wet but it’s only 25 minutes of discomfort and the thought of being on a hot over-crowded bus isnt much better!
Congrats on starting the work from home! I’m in 2 minds about it; obviously it has alot of benefits but I worry I’ll miss out on the office social interactions.
ERG,
Nice looking bike!
I used a scooter to get around for quite a while down in Florida. Loved how cheap it was. Spent under $20 per month in gas, and no insurance.
It’s tough to ride a bike where I’m at now (Michigan) year-round, but I would if I could.
Enjoy those savings!!!! :)
Best wishes.
Hi Jason,
Thanks! It’s only a little 125 but still looks pretty sweet. I love being able to nip around town and avoid traffic, and the cost savings are pretty awesome too.
I used motorbikes to commute 58 miles each way into London. My shifts are two days and two nights on an 8-day cycle, so I’m going with the rush hour for a maximum of 2 days a week. Some of my days are at the weekend, so it’s not like I’m doing the normal Monday to Friday hell.
Yours costs don’t include waterproof riding gear. This stuff isn’t cheap!
I also found that if you include the time taken to dress in bike gear before you set off, and add the time spent ‘undressing’ the bike gear at your destination, then the time saved isn’t anything like as much as you think.
Lastly, working in the emergency services means I get to see just how vulnerable motorcyclists are. I sold my bike and happily listen to audiobooks in my super-frugal VW Golf bluemotion.
I’m fully on board with FI and looking forward to RE in about a year (age 53). Well done for spreading the word.
This is one of the things that reinforced my FI journey: http://www.thesimpledollar.com/onepage/
Hi Matt,
Some excellent points. My commute is nowhere near as long or fast as I’d guess 58 miles on a motorway would be. As a result I rarely go above 30mph and am only on the bike for 20 minutes at a time so get away with having far simpler bike gear. I ride with a reinforced jacked and carry a waterproof all-in-one which goes over normal clothes if it’s raining. Time spent getting dressed/undressed from this would take a minute, maximum. The jacket was £100, the waterproof I picked up 2nd hand for free.
I agree, bikes are very vulnerable. However it’s a calculated risk for me, especially as it’s all inner-city commuting at lowish speeds.
I know it’s a few years now but I wondered if you could let me know the model that you bought and whether you’d recommend it or not. I really like this idea.
The model was a Huoniao HN125, it’s a chinese clone of the famous Honda CM125. I read that when Honda stopped making their version the original factories were sold to 3rd parties who started making the same model but under their own name so the Huoniao HN125 has the exact same engine parts and most of the same body work.
I would absoloutly recommend this model if you are only using it for an ultra cheap commute over short distances. It really is one of the cheapest methods you’ll find of getting around.
My Huoniao HN125 lasted me for about 4 years, eventually one of the fuses blew on a particularly cold night and the original frame bolts had rusted over due to the all-weather usage I put it through and not having a garage to store it in at my old rented flat. Because of this we were unable to get the bolts off to change the fuse so I decided to give the bike away to someone who was intending on modifying it for his daughter to use as a learner bike. Had I looked after it better I’m sure I’d still be using it now as the engine itself was perfectly fine.
If you want to spend a bit more you can pick up a brand new Honda CB125F for just under £3k which is the bike I currently ride. Again, perfect for short commutes and dirt cheap to run.