Moneywise24 Personal Finance

Being from The Netherlands originally, I have grown up with my bicycle. In The Netherlands, on average there is one bicycle per inhabitant, and there are more bicycles than cars. Yet I have managed to lose touch of using the bicycle as a main form of transportation when I went abroad; especially here in Germany, where people are pretty car-crazy.

Still I enjoy using the bicycle, and there are actually 3 main reasons, which I want to suggest here, why it could be a good idea to use the bicycle as an alternative form of transportation, at least partially.

It’s cheap

Let’s face it. Since this is a money-related blog, the first benefit of using a bicycle is that it’s cheap. Bicycles come for a few hundred Dollars already, and for a bit more you’ll be able to purchase a bicycle of good quality; it really does not have to cost more than 1,000 Dollars or Euros. The maintenance costs are also low: I had my bicycle maintained before last winter for around 60 Euros. I do this every year, so that I know everything is in good order, nothing is broken, and that I can fully enjoy riding it. I find nothing more irritating than having to deal with something that is half broken.

Perhaps the most important cost-savings factor is the money saved on fuel, road tax, and insurance.

If you have a bicycle of good quality, with a bit of precaution you would be able to ride for 10 years perhaps. I have mine for 12 years now… but it does need replacement.

It’s healthy

Getting some exercise is healthy. I feel we spend too much time behind our laptops, getting too little exercise. Even if it’s for 5 minutes per day, still it’s 5 minutes. I use the bicycle during summer to get to work, as an alternative to the metro. That makes 30 kilometers (or 18.7 Miles) per day. It took around one month until I was starting to get some very powerfull results. At winter, when I am not using the bicycle, I exercise one additional day per week at the gym, in order not to lose the beautiful results of summer.

You always get a parking space

The last benefit to using a bicycle is that you’ll always get a parking space. No more driving around blocks for hours, waiting for a parking space to become free, paying loads of money on fuel, or paying enormous amounts on parking fees (in the Amsterdam city center, you pay an average of 5 Euros per hour for a parking space on the street… if you are able to find some). You can virtually just hop on, go where you want to go, and leave your bicycle right in front of where you want to be.

All in all, I find cycling an excellent way to stay fit, healthy, and save some money in the process. Surely I won’t go through this trouble when I have to carry things around with me. But when I know that I am traveling lightweight, and I don’t need to go very far, and the weather permits it, the bicycle is my way to go.

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Quite a while ago I had a discussion with a some good friends of mine. We were discussing how and where to go on a first or second date, and it soon appeared that our opinions were quite diverse. We had spent the entire night discussing the topic, and finally came up with a number of conclusions. I have to admit, this article addresses mainly men, but still… Read the following tips carefully, it might save you a lot of money, as well as your date.

Keep it simple

“So what’s your favourite restaurant? Let’s go there”.

Personally, I find going to a restaurant on a date a bad idea; it will cost a lot of money, and you have no chance of ‘escaping’ if the date doesn’t go well. I know, we are all kind of conditioned to be the big romantic guy, but I prefer to keep it much more simple. If I absolutely need to sit down with her somehwere, I would choose a bar of my choice with a nice atmosphere. But how about a walk alongside the river or in a part with a takeaway coffee?

Dating does not have to cost you the world, just try to keep it simple. The main reason why you are dating is because you want to enjoy each other’s company.

Spending money on each other

I think it’s a great thing when people spend money each other, as a give-and-take habit. However, I am not a big fan of spending money on someone because I think it is expected from me; and if the other person does, then the date is really not worth it. I will usually wait spending money on a person until I know this person a bit better, and until a certain level of trust is established; it has to be earned.

Choose to be active

It can have a very big impact if you are actually active on a date. This can include cycling, playing squash or badminton, or something else which involves physical activity. Being physically active knowingly creates happiness, and you automatically have something to talk about afterwards. Also, being involved into something together intensifies the feeling of knowing each other for some time. Being physically active does not have to cost the world, and invites going for a drink afterwards.

Be creative

There are so many low-budget things you can do on a date; it really does not have to cost the world. Just sit down for a few minutes and write down some ideas; this migh vary from going for a walk somewhere to doing sports, to enjoying the afternoon on the grass in a park.

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We all want a big estate, a powerful car, stylish clothes from the finest brands, and so on. While many of these things certainly can be realised, having a grip on your finances is all about identifying your own and personal ‘needs’ and ‘wants’, and acting accordingly.

Let us look at what a ‘need’ is in the first place. Basically, a ‘need’ is anything which makes it possible for you to live in a safe environment and to reproduce, at least that’s how I look at it. This includes food, water, shelter, love and sex (including also social contacts). Be honest to yourself: do you really need anything else to survive? However, these basic needs may cause you to live fairly uncomfortable in the modern world. For this reason, I want to take it one step further for the purpose of this article and re-define what a ‘need’ is:

A ‘need’ is anything which makes it possible for a human being and his/her family to life a comfortable and exciting life.

Following this definition, what a person needs differs per individual. No two individuals are completely the same, and their needs may lie far apart.

Have you ever heard one of your friends say ‘but I needed this new pair of shoes’, knowing that the pair will end up in the closet together with 52 other pairs? Probably yes, and this is the essence why many people end up in a situation of debt, sometimes so severe that there is no way out of it but to file for personal bankruptcy (if you are such a person, please seek professional help from an independent advisor; the information on this website will not be sufficient to eliminate your debt).

Knowing the difference between needs and wants, it is essential to ask this question each time. If you are not used to it, it is very easy to let yourself go in the process. If you have a credit card readily available, it does not make things easier. The essence is that each purchase should contribute to the quality of your life significantly; it should enhance and enrich your life. If this is not the case, you may do yourself a big favour and leave the item where it is.

Reminding myself of my own definitions of ‘needs’ and ‘wants’ have significantly helped me to keep my own finances in control.

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Owning a car can be quite expensive. Fuel is one of the highest cost factors, especially for people who need their vehicle on a regular basis. However, the cost of fuel is controllable up to a certain extent. With 10 easy-to-implement tricks, you will be able to significantly decrease the fuel consumption, thus saving money.

Think about fuel consumption when you buy your vehicle

The first step in reducing fuel consumption is to consider the future costs when purchasing your car. Two major factors to consider when buying a car is the size of the engine, and the size of the car in general. Large engines deliver more power, and therefore fuel consumption is much greater. Often you will not need such power, and a vehicle with a smaller engine would do just as fine. Furthermore, a large car which is heavy will consume more fuel, since the engine will need to move a larger mass. For these reasons, you will want to consider what size of car you really need, and what engine size would be appropriate for the that size of vehicle. Additionally, your car dealer will usually have statistics available on fuel consumption for that particular type of car. If you have the possibility to select between multiple vehicles, it might prove to be beneficial to compare the average fuel consumption.

Do regular check-ups

If car parts start to become older and wear out, they might actually increase fuel (and oil) consumption. Therefore, you should have your car checked on a regular basis, and have old car parts replaced with new ones.

Keep the weight as low as possible

Additional weight in your car drives up fuel consumption. Many people use their trunks as trash collectors, leaving all sorts of heavy items in their cars, unaware that this is unnecessary. In stead, make sure that you keep your car as light as possible. You might even consider taking out the spare wheel. There are many alternatives available (such as special sprays) which can be used in the event of a flat tire.

Know when to shift gears

If you drive a manually shift car, you can safe fuel if you know when to shift gears. Usually, a car will consume more fuel with a high RPM (rotation per minute). For this reason, you can start saving money by shifting up your gear as soon as possible, and shifting down as late as possible. Generally try to keep your RPM as low as possible.

Turn off the engine

If you are not moving for more than one minute, it may be recommendable to turn off the engine completely. As long as the engine is running, fuel is being consumed, and turning off the engine may add to your fuel saving strategy. Also, in winter it makes little sense to turn on the engine and let it heat up the car while it is not moving; it is better to turn on the engine and immediately start driving.

Keep the vehicle rolling

When you are driving, look ahead to see what is coming. Your main goal is to keep the vehicle rolling as much as you can; “stop and go” consumes lots of fuel. If you notice that there is a red light coming up ahead, you may want to slow down slightly in the hope that the light turns green before you come to a full stop. Some people make it a sport to rush from one red light to the other. This consumes lots of fuel and is not recommendable.

Drive smoothly

Sometimes it may be fun to drive in a very sporty way, accelerating and driving fast. However, this driving hardly saves any time, and certainly does not save money. Try to drive as smooth as you can, accelerate gently, take the curves gently. Additionally this would significantly reduce the risk of getting involved into an accident.

Check your speed

Driving fast will increase your overall fuel consumption; the engine will operate at a higher RPM and the air resistance is greater. Driving at a moderate speed may greatly contribute to saving money on fuel.

Complete your tasks in one trip

If you have different tasks or business to complete on a day, try to complete them in one single trip. This way you can create a synergy effect; the total driving distance for this one trip is shorter than multiple trips, and you are saving time in the process.

Consider whether you need your vehicle at all

Some businesses can be attended without vehicle. It is sometimes astonishing how many people drive to the grocery shop around the corner with their card. In stead, you may want to consider walking or driving by bicycle. Also you may want to consider whether and when you can take public transportation. This also has additional benefits, such as not having to look for a parking space. Sometimes, in large cities taking public transportation is much more time-efficient than going by car.

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