Biking for Budgets: Your Household Can Save Money, One Pedal at a Time
It's 2024 and the cost of living seems to be on a relentless upward trajectory, so finding ways to save money has become a priority for many families we see locally. So, can you make significant savings simply by riding a bike? Yes! In this blog post, we'll explore how choosing two wheels over four can make a positive impact on your budget, especially in the face of skyrocketing petrol prices and the hidden costs of parking.
Breaking Down the Numbers: The Petrol Predicament
As of 25 February 2024, the average cost of petrol in New Zealand has reached unprecedented levels, with the price for both unleaded 95 and 98 hovering over $3. The last 28 days alone have seen an increase of 8.94c and 12.58c, respectively. For those feeling the pinch at the pump, opting for a more fuel-efficient and eco-friendly mode of transportation becomes not just a lifestyle choice but a financial necessity.
Do this quick exercise: estimate how many of your car trips are short range, less than a 10 minute drive. For many of us, it's around 30%. Now, what's your weekly fuel cost? Maybe around $150 for a single tank? So switching around your transport decisions for short trips, you could be looking at a third of your petrol being burnt through when you really could just jump on your bike for those shorter trips.
Sure you'll still need to fill the car up every week but you might find you start to get more days out of one tank saving you money every week. Mission accomplished!
Active Transport: Your Wallet's Best Friend
Enter the concept of active transport, a term that not only refers to physical activity but also represents a practical and cost-effective way to get from point A to B. Biking not only helps you avoid the rising costs of petrol but also contributes to improved health and well-being. In addition, incorporating cycling into your daily routine may reduce the need for costly gym memberships or fitness classes, further adding to your savings.
Parking Woes: The Unseen Expenses
Beyond the pump, the cost of parking in urban areas can add up quickly. In smaller cities like Napier and Hastings, parking fees are $1 per hour. Forget to pay or exceed your metered time, and you could be facing a hefty fine of $40. In NZ's larger cities it's $3 or more per hour and that's when you can even find a park.
The ongoing cost of parking can be a real headache, and biking provides a convenient and cost-free solution.
By choosing a bike as your mode of transport, you not only save on parking fees but also sidestep the stress of finding a parking spot, avoiding fines, and ensuring your commute is hassle-free.
Let the savings roll in!
In the face of mounting living costs, the bicycle emerges as a beacon of financial relief. The savings from reduced petrol expenses, combined with the freedom from parking fees and fines, make biking an attractive alternative for those looking to cut down on unnecessary expenditures. Embrace the pedal power revolution, not just for the environment and your health, but for the well-being of your wallet. Ride on, and let the savings roll in!