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Embarassing but true - credit card balances due to cycling!!(33 posts)

Embarassing but true - credit card balances due to cycling!!ashleyrenfroe
Aug 15, 2001 10:36 AM
I hate to admit it, but I have spent mucho dinero on my credit card due to cycling, over the years. Does anyone else have some similar experience, to make me not feel so bad???
It ain't cheapTypeOne
Aug 15, 2001 11:01 AM
I hear you. But well worth it, I think.
By your message title, I thought you were saying that by cycling you had somehow paid off your credit card balance. I just had to see how that was done!
It ain't cheapLone Gunman
Aug 15, 2001 11:09 AM
Decided a long time ago, if it is not in the checking account today, it won't be bought until it is.
LOL! good one! Lance did it! (nm)ET
Aug 15, 2001 11:19 AM
Nothing to be ashamed ofThioderek
Aug 15, 2001 11:06 AM
I wont even go into what kind of credit card debt I have charged on my credit cards over the last two years. I have since put two of them away and use my check card for all purchases now. I try not to carry a balance, but there is one that goes down every month slowly.

I never actually put all my purchases on my cards, but the little things add up: shoes, tape, tires, etc.. I rationalize all my expenses by riding to and from work everyday, training for upcoming events and committing myself to actually using one of my bikes all the time. It works out in your mind a little easier this way. Makes the expense easier to handle.

I have a pretty big stable which I want to whittle down, but cant rationalize the loss in money. I would rather give the bikes away.

My .02 cents. (charged on my checkcard)
re: Embarassing but true - credit card balances due to cycling!!ashleyrenfroe
Aug 15, 2001 11:10 AM
Well, I have only one card, but whoa!! Just that one has been used for everything from baby stuff, to a new air unit for our home, to gifts for my wife, travel, and of course, biking. I can't help it. If I have the money, I will buy instead of charge. But, by GOD, when I see something and I at first walk away from it, it is only a matter of time till I rationalize enough to charge it.

And having steady internet access sure doesn't help either. If I had more time to ride, and less time to shop, maybe that would help some.
How about earning bike gear?TypeOne
Aug 15, 2001 11:14 AM
I don't want to be accused of shilling for Performance, but I recall reading something that said you could get a Visa that would allow you to earn some percentage of your purchases toward "Bike bucks" at Performance. It's probably explained on their website. And your Visa card would have a picture of a peloton on it.
Maybe you can earn some gear like this...
count me inET
Aug 15, 2001 11:14 AM
Good question; I was thinking of posting a similar one but was hesitant.

With several kids in private schools costing upwards of $15,000 a year (for personal religious reasons I consider myself not to have the option to send them to public schools), anything we buy gets us into trouble. We take no vacations and have old cars. But I take my exercise and cycling seriously, so I made a conscious decision that I would put the bikes on the credit card because if I waited till I had the cash, I might never ride. All I have is one road bike (Lemond Zurich, one of the best bikes for that $ level, which is low by the standards of this forum) and one hybrid. And, of course, some clothes and accessories, some of which end up being thrown out or not used because after trying them, you don't like them as much as other stuff or see it's not good. But that's all relatively minor stuff; I'm not changing wheelsets or anything like that. No that there's anything terrible about that if you have the money for it.

Perhaps even a bigger problem than credit card balance is how to handle wife who wants to increase the balance on totally unnecessary things like interior wall painting, new carpeting and kitchen flooring, etc., and when I say we can't afford it, she always says, "Oh, yeah, but you have plenty to waste on all your bike stuff."
I hear the same thingTypeOne
Aug 15, 2001 11:19 AM
ET, I hear the same thing from my wife.
Whenever we spend $$ on decorating, furniture and other crap, it is for OUR HOUSE and it increases its value, while spending money on cycling is just my hobby and does nothing for her.
She makes a good point, and I have countered it well in several discussions, but there's no sense arguing with her. Man, your story really sounds familiar.
I hear the same thingashleyrenfroe
Aug 15, 2001 11:47 AM
We must all be married to the same woman or something. That is what I get too. Except, lately, I have been letting her BUY some things SHE wants with our cash. I think it is pretty sly. Like, she bought this 200 buck kate spade purse last weekend, and so I am building a case against her for my bike, which I have had on layaway for 2 months at my lbs. I have been paying 50 a week trying to get it paid for, but so far, I ain't even close. So, maybe, it is time for me to spring. I might wait a little longer and let her dig the hole a little deeper. Marriage is great!!!!!!
Marriage is great.terry b
Aug 15, 2001 12:06 PM
My wife could care less about how much I spend on my hobby. In her view, it's my hobby, I work, I make money and I can spend it however I want. My first wife however was another story. Maybe you'll get lucky too.
Does your wife have a sister???Taylor_|a
Aug 15, 2001 1:05 PM
from the other side...Spinchick
Aug 15, 2001 1:33 PM
Okay, okay, lot's of comments about wives. My husband did not understand in the least why I had to spend what I did on my new bike. However, after seeing me return from 60 mile rides on weekends, complaining (with a huge smile on my face) about my lead-like legs, he has decided he wants one too!!!! I'm hoping he doesn't get quite as hooked as I have become (someone has to be around for our three year old daughter).
good i'm not alonemoschika
Aug 15, 2001 2:52 PM
i can hear my wife saying those exact things. what's the deal with that? what she does improves the quality of OUR lives while bike stuff and biking is only for YOU.
so i don't feel so alone when this comes up. thanks for sharing.
A triple bypass is not cheap eitherLC
Aug 15, 2001 11:20 AM
It is hard to put a price on your health and I look at it as a investment in my own well being.

If you did not spend the money on cycling then it would just get spent on something stupid like a boat, sports car, or even golf. Most riders think that if they just had that new Dura-Ace/Record $$$$$ part then they will be so much faster. Of course I can't exactly brag since I have 5 bikes that I upgrade all the time, but I do avoid the temptation to get Dura-Ace or Record parts since they are not any better than Ultegra or Chorus. Also last years model of frame is usually just as good as this years model.
Tangent. Just curious, how do you figureraler
Aug 15, 2001 12:24 PM
Dura Ace and Record are no better than Ultegra and Chorus?
Cost per mile vrs. cost per smile.MB1
Aug 15, 2001 11:21 AM
Make a budget and stick to it.

Keep track of your actual expenses (equipmnet, travel & misc. bike related) and the original cost of the bike. I think you would do well to keep your costs below $ 0.50 per mile. We have finally gotten the cost of our tandem below $1.00 per mile.

Maybe Humma has the right idea, I bet he keeps the cost of that hunk of steel & rubber below $ 0.25 per mile.

Then think about how much pleasure you get from riding vrs driving. At least you will have a good idea of what you are spending and what you are getting.
Here is how I work my "toys" moneyDave Hickey
Aug 15, 2001 11:56 AM
Over the years I've accumulated various "toys"(my wifes term). Last year I added up the value and have determined their cost to be about $5000. Whenever I want a new part or frame, I sell of some of my toys on ebay. These toys range from bike, frames, parts and even old model cars. In the last year, I've sold over $2500 dollars worth of toys to support my cycling. Whenever I get the bug for a new frame, I sell off my old stuff. It's done wonders for the marriage.
Here is how I work my "toys" moneyashleyrenfroe
Aug 15, 2001 12:21 PM
That is a strategy that works well for me. But, the deal is, I ahve nothing left to sell!! I am having a yard sale in a couple of weeks, and I hope to get rid of some stuff then, like old suits, clothes, microwave, etc. That should get me the other 360.00 bucks i need!! Great strategy!!
That's what I do.look271
Aug 15, 2001 1:03 PM
I don't have much old bike stuff laying around because most of it I sold on e-bay. I figured out what it would have cost to equip my kg 271 as I have it now vs what I actually paid out-of-pocket. I could have spent about $3500+ on it. After selling my old bike + various extras ( a spare wheel set), I only paid about $1500, give or take. Not bad, and even my wife can appreciate a good bargain! Oh,I still have accumulated some credit card debt on bike stuff, but not nearly what I could have.
Think instead of the Frequent Flyer Milesterry b
Aug 15, 2001 12:04 PM
I always have a pile of free tickets on Southwest due to my cycling purchases. My step daughter has been out to CA several times to see her grandparents, my other stepdaughter has been up from El Paso for several holidays and I'm actually taking my first trip back to NY in ten years all free of charge. Thank God for Excel, Performance, Colorado Cyclist and RA Cycles.
If Increase in Happiness > 12.9% APR, then Charge It!JS5280
Aug 15, 2001 12:06 PM
You too can ride a Palmares for just $50/month!

Might as well spend money on something that makes you happy and healthy, not too mention all the money you probably raise for charity rides if your conscience still bothers you. Of course, don't become a beneficiary for that last ride for the homeless you did ;-)
I track it on Quickenonrhodes
Aug 15, 2001 12:16 PM
I actually have an expense account setup on Quicken that I track my cycling expenses through. Plus two sub-categories of race entry and Race Lodging. It amazes and humbles me every year how much I spend on cycling. But it also lets me see a nice trend in my spending. Like tires, chains, etc. how often do I replace them. I have finally after 10 years reached the point of happiness with everything that I have. Sure, I'd love to own a CT1, but as long as I race, it is going to be the Giant TCR for me.
I'm apparently lucky though no wife, good job, no kids.
I have an expense column in my Excel training log...Bruno S
Aug 15, 2001 12:34 PM
Last year I spent about $2000 in bike stuff because I bought a my first road bike and all the equipment associated with it. This year I though that I really wanted to monitor the cost of the sport so I added an expense column to my training log. Everytime I make a purchase I record how much and what it was. From spare tubes, to fees, to clothes. This year has been terrible and I will probably spend almost as much as last year. I am hoping that next year the expenses will come way down since thre is little more equipment I can have.
My solution: ...Biking Viking
Aug 15, 2001 12:44 PM
...ONE car household and bike commute every day. Result: Can easily justify spending a lot of money on bikes and equipment.

And I do.

My wife says:"If you are going to have a vice..........Len J
Aug 15, 2001 1:02 PM
this is not a bad one."

Maybe I'm lucky, but this is the only thing that I spend any real money on. As long as I don't go crazy, she doesn't care.

I am Lucky!
re: Embarassing but true - credit card balances due to cycling!!Mel Erickson
Aug 15, 2001 1:45 PM
I have a second job that pays for my "toys" to a large extent. I referee soccer and probably make about $1500 a year. My wife has no problem with my biking hobby. She's got plenty of her own. I don't keep track of what I spend but it's probably not more than I make refereeing. Plenty of my referee money goes for christmas presents for the family. My newest bike is a '97 (not counting the tandem which is for both of us) and that was bought used. In fact, I haven't bought a new bike in over 10 years. I'm pretty frugal with my purchases, do most of my own maintenance and am happy with what I ride. Remember, it's not about the bike.
Second job at bike shopRiptile
Aug 15, 2001 6:14 PM
Try getting a part time job at a bike shop. The prodeals are fantastic and make up for the measly wages. The people you'll work with are cool. The customers are cool. The swag is cool. And most bike shops will realize that it's not your highest priority and will be cool about time off and work hours. They are usually just happy to have knowledgable people on staff. I've worked part time at a shop for 6 years now. I have way way too many bike toys due to all the awesome deals that manufacturers offer
Cycling is not that expensive....DINOSAUR
Aug 15, 2001 3:58 PM
If you end up using it, it's worth the expense. Always purchase stuff that is on sale, as in the long run you end up saving money.
This is the line I use to my wife when she see the receipts from my bike purchases. Last month I was in the middle of working on my bike and I had to stop what I was doing to drive down to my LBS the buy a roll of rim tape. I walked out of the store after dropping $77.00.
Actually cycling is a relatively cheap sport once you are set up with everything you need. My main expense is tires and tubes, and every once and a while I'll buy a clothing item (on sale of course). Try golfing or sking, or even classic cars. Gas alone cost $2.00 a gallon for supreme, that's 20 cents a mile on top of the lead additive I add to every tank. Parts for classic cars? If you can find them. An NOS sideview mirror for my Plymouth Satellite costs $150.00, if you can find one, body parts are near impossible to find. Cycling is cheap...
Sounds like you've given this some thoughtmike mcmahon
Aug 15, 2001 4:53 PM
Please help me come up with a list of expensive hobbies/activities so the next time my wife complains about bike costs, I can say: "At least I don't ____________." Here's a work-in-progress list:

1. golf (the cost of country club memberships is outrageous)

2. collect stereo equipment (a co-worker just spent more on a tube-amp than I spent on my new bike)

3. ski (lift tickets, skis, boots? forget it.)

4. collect cars (e.g., your Satellite mirror)

5. smoke cuban cigars ($25 each, if you can find them)

6. hunt (this may not be expensive, but she hates the idea of hunting so I'll throw it in)

7. fly a plane (yeah, like that's going to happen)

8. buy front row seats for every Laker home game (hell, I can't even afford to watch them on TV any more)

I'll be happy to consider any other suggestions out there.
Sounds like you've given this some thoughtcycleguy
Aug 15, 2001 6:11 PM
I have been riding bikes that I have purchased with my own money for 35 years. The total price of those bikes is 5,500.00. Including all bikes for my family. The ones I have left are;

74 Fuji Ace with dura ace (mine)
91 Trek 1420 with 105 (mine but now the boys also use)
93 Bridgestone 400 mixte frame mixed componets (my late wife's)
two mid 90 trek kids mountain bikes (now to small for the boys)
mid 90 schwinn prelude (again for the boys)
2000 Trek 5200 (all mine)
2001 Mondonico Nemo with Daytona (all mine but still on layaway)

Lets see 5500/35=150+ And just for the heck of it. I still have every short, jersey, shoe, and peddle that I have bought specific to cycling in the last ten years. Pack rat that I am. Under 200 dollars a year for something that has more then once brought me back from the edge. The best investment I have ever heard of!
re: Embarassing but true - credit card balances due to cycling!!Dutchy
Aug 15, 2001 6:50 PM
I am lucky my wife enjoys recreational cycling, she has an MTB with slicks that she rides only about 2-3 times per month but she loves going downhill fast, makes her feel like a kid again. She even watched every stage of the Tour de France. So when it comes to buying bikes etc it's not too hard to sell her on the idea. I have 3 bikes at the moment a 96' Giant CFR1, a 98' Balance FS and a 99' Cannondale (rigid MTB) with slicks. We are moving to a new our new house in the next 6 months, it's in the country about 35 kms from the city so I will have plenty of new roads to ride on. I get the feeling a new bike might be in order to explore our new environment. I haven't told her yet but if talk to her about it she will probably let me get one. I plan on buying a bike that I will ride for the next 10 years so it won't be a cheap one about $4000 AUS ($2000US). We only have 1 car (hers), I sold my Nissan 200sx (sylvia turbo) to help with the house payments so I should have some leverage there for my new steed. I ask her to come with me when I buy the bikes so it makes her feel part of the purchase. Her advice is to always buy the better one. Wish me luck.
re: Embarassing but true - credit card balances due to cycling!!Pogliaghi
Aug 15, 2001 11:25 PM
I was getting tired of riding a mtb on road rides. So last year, I decided I WANTED a road bike. I did NOT have the cash so I got one on plastic. Still paying for it, but I've been happier since I got it. No remorse.