I may have bought my last bike

[Selkie]

NY biker, I have 3--a back-up bike, a road bike and mtb.

It's not just bikes that I've felt this way about, it's everything here lately.

I'm with you.

Something Indysteel wrote in the Best Bike Advice thread resonated with me: considering each purchase carefully and reminding myself that financial security is more important buying ______________. Saving for things and being content with what one currently possesses.

That said, a finding a good deal on something and buying it is also very wise.

[Blueberry]

I'm with you.

Something Indysteel wrote in the Best Bike Advice thread resonated with me: considering each purchase carefully and reminding myself that financial security is more important buying ______________. Saving for things and being content with what one currently possesses.

That said, a finding a good deal on something and buying it is also very wise.

+1

I'm not buying much right now - I doubt I've bought my last bike (I'm just 30), but I also doubt I'll do much adding to the fleet. They will likely be replaced as they wear out...or need it. I think I'll see significant changes in technology before I'm done riding.

We've been enjoying dinners in with friends more, riding just for the enjoyment of it, etc. We've been trying to slow our lives down, and it's working. And that's worth a LOT more to me than the latest______. That and financial security.

[BleeckerSt_Girl]

We've been enjoying dinners in with friends more, riding just for the enjoyment of it, etc. We've been trying to slow our lives down, and it's working. And that's worth a LOT more to me than the latest______. That and financial security.

Yes we have been doing the same. More time with friends locally...potluck get togethers, way less driving definitely.
I hope to buy my last bike when I'm 70 and then ride it for another 15 years.

[andtckrtoo]

We also slowing down a bit on our spending and really picking and choosing what is important. We are both working still and both doing well, but as we keep saying, "Ya just don't know". We're putting more money aside as a "just in case".

[ny biker]

I wasn't planning to buy a new bike anytime soon. The road bike I bought in 2002 is still in good and shape and I see no need to replace it. It would be nice to have something lighter, but I'm fine with what I have.

The mountain bike hardly gets any use these days, so certainly no need to replace it with a new one.

And since I have to store them in my living room, there's no room for a third, or a fourth.

As for other stuff, I haven't really cut back all that much on day to day expenses, because I already cut back a couple years ago when I bought a new car and had to adjust my budget for the car payments.

I'm still making some large purchases, but they are planned well in advance so I can make sure I have the cash for them and can take advantage of sales. I bought a new dishwasher in October, when there was a sales tax holiday on energy star appliances. I just bought a new TV in January (replacing one I bought in 1994) but I'd been planning to do that for a year. And I got it on sale, plus had some gift cards to knock down the price a bit more. So I got a good deal.

I'm still planning to make some upgrades to my condo. I will probably be replacing my water heater as my next project, because I think it's nearing the point where a leak will be a problem. And then I want to finally move ahead with painting the living room/dining room and bedroom, which literally has not been done for something like 15 years.

But I'm still putting money into savings every month, too.

[kfergos]

And since I have to store them in my living room, there's no room for a third, or a fourth.

Me, too! This is as good of incentive not to keep collecting bikes as anything. I may not mind bike-themed decorations, but after a while my dh might have something to say about it.

[Selkie]

... We're putting more money aside as a "just in case".

Very smart. Last year, we have several major unexpected expenses: new water heater & replace the remaining steel pipe w/copper; new A/C and furnace; new computer; and big car maintenance bill. Luckily, my parents (not DH's) taught me to "pay myself" first by putting money away each paycheck. This is something I, in turn, taught my spouse.

[BleeckerSt_Girl]

Very smart. Last year, we have several major unexpected expenses: new water heater & replace the remaining steel pipe w/copper; new A/C and furnace; new computer; and big car maintenance bill.

Ooof- furnace, that's a big one. We got a new furnace this past year too- major expense, especially when you have to redo a lot of the old inefficient ductwork. Our old furnace was over 50 years old- definitely was time to replace it.

[Selkie]

Furnace AND A/C. Actually, our electric and gas bills have gone down. The newer systems are so much more energy efficient!

Wow, getting 50 years out of a furnace! That's incredible, Bleecker.

A new roof be next, I suspect. Hopefully, not for several more years. We should replace the windows, too, before long. Maybe it's time to start buying lottery tickets

[indysteel]

I'm with you.

Something Indysteel wrote in the Best Bike Advice thread resonated with me: considering each purchase carefully and reminding myself that financial security is more important buying ______________. Saving for things and being content with what one currently possesses.

That said, a finding a good deal on something and buying it is also very wise.

I'm glad that resonated with you MichChick, but in the interest of full disclosure, I have to admit that I'm in the middle of buying a new bike, and not a cheap one at that. In keeping with what I said in the Best Bike Advice thread, I decided to buy the bike after much consideration (a) because I saved diligently for it and am paying for it with cash; (b) because I didn't compromise on expenses that are more important to me, e.g., charitable giving, my retirement fund, home and car repairs (in the past three years, I've replaced some of my siding, my roof, the blower on my furnace, and my hot water heater and I've spent another 2k to keep my car running over the past 2 years); and (c) because I've otherwise been fairly frugal these last few years to offset it. I've also done what I could do to limit the costs in building it where possible.

I hope my bike purchase doesn't seem contrary to the advice I gave Smurf. If I were broke and 27, I sure wouldn't be buying it, nor would I buy it if it meant compromising my other financial goals. Yes, I could have invested it or simply kept that money in the bank--and believe me I've thought about it--but I know I'm going to ride this bike to death (figuratively speaking, hopefully) and it's one of the few luxuries--beyond a bit of travel--that I've ever allowed myself.

[BleeckerSt_Girl]

In general, having a bicycle is certainly a wise investment in our good health.

[Selkie]

Indy, I still think you are wise. You saved for the bike, you thought long and hard about your decision, etc.

I try not to judge other folks' decisions as to how they spend their money, so long the purchase doesn't have an adverse impact on others. That said, I don't think irresponsible spending is very smart (particularly since my taxes will be going up and funding the big bailout, but that's besides the point). I'm old school and strongly believe that people should take responsibility for their choices/actions.

[indysteel]

Indy, I still think you are wise. You saved for the bike, you thought long and hard about your decision, etc.

I try not to judge other folks' decisions as to how they spend their money, so long the purchase doesn't have an adverse impact on others. That said, I don't think irresponsible spending is very smart (particularly since my taxes will be going up and funding the big bailout, but that's besides the point). I'm old school and strongly believe that people should take responsibility for their choices/actions.

Thansk, Michchick. I do sort of feel like a hypocrite at times though. I typically talk myself out of larger purchases, especially with furniture. I was 36 when I finally pulled the trigger on bedroom furniture. I had lived so long without a dresser that I had a hard time believing that I actually needed one--notwithstanding the piles of clothes in my laundry room, closet and bedroom and my inability to find anything in less than 15 minutes.

So, the bike is a big step believe it or not in enjoying the fruits of my labors. It's not that I'm a miser; I just have a hard time with anything that costs over, say, $100. I run the pros and cons over in my head until I usually just don't feel like buying it again.