So I’m trying to save about $2,700 by the end of the year.
The thing is, that $2,700 is going to be for a mountain bike and not necessarily anything to improve our financial situation.
So this is the one I’m looking at. Let’s throw some link authority Trek’s way.
Pretty nice, huh?
And if you’re not familiar with bikes, know that you could easily spend upwards of $10,000 on a top of the line mountain bike if you wanted all the bells and whistles. So $2,700 isn’t too out there.
As someone who has blogged about finances (inconsistently, I might add), it seems a little hypocritical. And honestly I have a hard time myself trying to justify spending that much money when we also have student and car loans to pay off.
But on the other hand, mountain biking is a hobby, something I’ve done for a loooong time, and something I’m passionate about.
On top of that, it’s essentially like an investment in my health, which as I’ve written about before, is always a good investment to make. Granted, a $500, entry-level bike would also do the trick, so I suppose that extra $2,200 is for my hobby.
Deciding How to Spend that Money
So I could technically walk out of the house right now and go buy that bike. We have the money and we could certainly afford the purchase.
But at the moment, I’m treating this as something that I have to “save” for, even though I don’t technically have to.
Since it’s for a hobby, it’s going to ensure that a few months down the road it’s something I still want. It will give me time to continue to assess my options (although I’ve already spent a month researching and testing).
It will also allow me to create a bike fund of sorts, to know how much money we’ve been able to afford to set aside for the bike and not take our savings down. If you’ve read my last few articles, you know I’ve been mentioning this social savings platform I’ve been checking out called ZigZig, and I’m actually testing that platform out to see how it can help keep me on track.
I’m not going to open up another account or anything for my bike fund. It will all be sitting in our savings account, so using ZigZig to denote what money is for my bike and track my progress should be a good way to stay motivated.
I’m finding that methodology about spending big money on hobbies is good, and 1) think it’s a good idea for other to do the same and 2) would be interested to hear how other people allocate and spend money on big hobby purchases.
I obviously speak for one side of the mountain bike-purchasing crowd, but what else is out there? I would love to hear it.