Is the bike worth it?

Getting a bike (or any vehicle or any big purchase) has two sides. The benefits are easier mobility from point A to point B, saved time and money over a long period of time. The costs are its regular maintenance, fuel, insurance and tax.

For any big purchase, the benefits comes with the costs. An important thing to consider is the opportunity cost. What’s the opportunity cost to having or not having a bike? Are you investing in an asset? If the bike can save you lots of time, create other income generating opportunities from it and give you a better quality of life, why not get the bike?

Opportunity cost

There’s an opportunity cost to every activity (or non-activity). As I’m writing this, I’m not on social media, talking with my friends, or reading a book etc. I’m giving this writing more importance than the other things I could have done with the time I have.

Similar to time, we make decisions with our money as well. We purchase certain things instead of something else. With limited time and money, we have to be very conscious of our decisions. Every moment has an opportunity cost. The choice is in your hands.