Given the state of the economy, I thought I would talk about my own financial situation.
I still have yet to actually complete a full month of money-spending record-keeping, but it’s pretty scary. Lets just say my credit card balance seems to rise every month, not decline, despite my best efforts.
Having biking as a hobby is certainly not helping anything. It’s actually the only thing I spend money on other then the bare essentials (most of our furniture was free or found for cheap on Craigslist, most of my clothes are 3+ years old, I never buy tickets to anything and only go out to eat twice a week at most…)
So how much do I actually spend on bike-related things? I would guess that about 30% of my income, after taxes, goes to biking. Yeh. That’s like…what your mortgage is supposed to be or something. I actually spend less on my rent/electricity then I do on biking. OK, my rent is insanely cheap, but still.
So actually, I probably spend something like : 5% student loans, 10% car payments/gas, 25% rent/bills, 15% food, 15% other, 35% biking. (yes, that equals 105%).
I’m not entirely sure why I’m posting this, as its dumb to have a “I spend more then you” contest. I think its more about the constant drain that biking seems to have on me in terms of “want”. There is always another thing to buy. Always something more that you need (want). And when I say that I “need” new gloves or that I “need” a new carbon frame, I have to remember that I only want these things. And getting them isn’t going to satiate me, it’s only going to make me want more. I remember when I first starting biking, and I bought everything used, and I waited to buy things until I absolutely felt like I deserved them. I biked in running pants over my 1 pair of cycling shorts for my first rainy season, wearing my Portland Marathon tech shirt. My first pair of pedals were SPDs, used from the Community Cycling Center. I resisted buying arm warmers for 4 months. What happened?
It’s hard to put yourself entirely into a sport, to train your ass off, to fully mentally commit, and to have crappy equipment. But of course, its only crappy in comparison to the $4000 bike the person next to you has. To compare my crap Shimano clinchers to someone’s carbon deep dish tubulars.
But in the end, these things don’t make you (much) faster. You have to figure out how you can get the most bang for your buck (going from a 25lb bike to an 18lb bike, as compared going from an 18lb bike to a 16lb bike, for instance). The nicer the lighter you get, the more each gram costs. Cutting seconds off your time starts equaling hundreds, if not thousands, of dollars. Is it worth it?
I have to say: ABSOLUTELY NOT. If I’m trying out for a pro team, then maybe. Otherwise, considering where I am in my biking career, it’s fairly ridiculous to buy such expensive equipment. What happens when I crash (and I will)? Somehow the cycling industry has everyone believing that they need the equipment of pros for amateur racing. Because expensive equipment makes you feel better, faster, like maybe you’re better then you actually are. Frankly, I would rather rise to the top on shitty equipment. Much more of a “pulling yourself up by your bootstraps” kind of story, which is much more interesting anyway.
I’ve already decided to stop spending money on my cross bike (no pit wheels this year). I’m considering selling the Miyata (I know), and instead winter-izing my track bike to use as a commuter (otherwise I know I will start sinking money into the Miyata, fixing it up). I will likely get a new road frame for next year (rather then buying a whole new bike), since my Fuji just doesn’t really fit me at all. I will either buy used or use one of my team deals.
Perhaps the biggest source of want for me right now is a new, very cool, very fancy team road frame that PV is having made. I feel like I’m being teased. It’s almost within my budget–but that’s just the frame. I know I would need new everything to make that bike look as cool as it should. Which is why I should probably save that for another time. I think that’s the real trick of biking stuff: it’s not just a new bike. It’s all the other crap you end up needing (saddle, pedals, shoes, fenders, bartape, lights, etc etc etc). It’s never ending.
Despite what you might think, having discounts and deals through friends and teams DOES NOT HELP. Especially for those of us with shopping addictions and weakness for sales. You just end up buying way more then you ever would have without the discount. Just what I need: more stuff.
So perhaps its also time to go on a bike-equipment diet.

I can totally relate.
I hear you! I just ran a report in Quicken, and year-to-date I have spent a little over four grand on bike stuff. A little over half that was for a new road bike, and the rest for clothes, parts, service, etc. Right now, I think I’m set for awhile and don’t see any more needs/wants on the horizon (especially with the economy going into the toilet), but you know it won’t long until something I “need” comes up.
Running is cheaper. Just some clothes and shoes!
Hmmm… of course, barefoot running would be even cheaper.
Hmmmmmm….. I suppose there’s also nudist barefoot running. That’s gotta be super cheap.
Of course, cycling is *way* better than running.
Sarah
The only problem with running is that I would have to factor in physical therapy!
Man, I totally hear this. I want the team frame soooo bad, and I actually need a road bike since old Nonna is about to have her 10 year birthday.
Going from 25 pounds of crappy aluminum to sub 20 pounds of sweet carbon is so f-ing tempting it’s crazy. But where does it end!?
Worse still, if I get the team frame, Sal will want it.
It makes me nuts.
I am considering this frame: http://www.salsacycles.com/podio09.html
Unfortunately its not supposed to be available until February. We shall see.