Would you 'Invest' redundancy in an new bike ?

degsy_103

Well, the credit crunch has finally caught up with me. After dodging a few bullets over the last 18 months, I will be losing my job in the summer.

Not really that disappointed. The company has been in decline for a while now, and hasn't been the most pleasant place to work for a while.

I will, however, have a reasonable redundancy to soften the blow, which if I am a little careful, could see me though 12 months or more without a job. I am pretty experienced, well educated, so I am hoping there is job out there for me, even if the T and C's are somewhat less than I am an used to.

So the question is, should I spend some of this money on a new bike ? Was planning on buying one last year, but with things a little precaurious thought the better of it. Nothing flash, £1500 or so, heart set on a carbon frame ( side note : a visit to Halfords completely put me off a Boardman)

My conscienious is nawing at me. To be fair, my wife would be pretty indifferent - it is me that needs convincing !!

Stuey01

I wouldn't without another job, but you can bet that as soon as I had secured a new job a chunk of that redundancy would be going on a bike.

tri-sexual

buy one on the bike to work scheme, it will save you hundreds.
oh sorry, you dont have a job

sorry, not funny but couldnt help myself

simonaspinall

Job First
Then new bike

stonehouse

Not that I've been unlucky enough to lose a job in a long time, but I've always taken the immediate baton down the hatches approach, limit spending to a minimum until a new job comes along. Once secure, fill your boots with a nice new one!

Radioactiveman

I would spend my redundancy on a bike if......... I was stupid

On a more serious note I would consider it if I had started a new job that I knew I would stay in and had some left over. Failing that I would keep the money

degsy_103

You are all, of course, correct. I know that is the right answer. Thought I might just have been being a tight ass. ( I have that reputation !!)

Time to redouble the job hunting efforts, which have been somewhat half hearted to this point.

Now not looking for an new job, looking for a new job and a new ( carbon !!) bike.

I'm off to tart up the CV

jgsi

degsy_103 wrote:

I will, however, have a reasonable redundancy to soften the blow, which if I am a little careful, could see me though 12 months or more without a job. I am pretty experienced, well educated, so I am hoping there is job out there for me, even if the T and C's are somewhat less than I am an used to.

Good luck and start searching now is my advice.
If you get another job offer - take it and forego the redundancy.
12 months without a job sucks - presume you are youngish.
I have ended up economically idle in a way and there is no route back for me into employment that will offer more than min wage and even those are rare as hens teeth at mo.
(employers want a pint of blood per week as well as your 40 hours + it appears)
Go get your opportunity and grab it.

fast as fupp

degsy_103 wrote:

Well, the credit crunch has finally caught up with me. After dodging a few bullets over the last 18 months, I will be losing my job in the summer.

Not really that disappointed. The company has been in decline for a while now, and hasn't been the most pleasant place to work for a while.

I will, however, have a reasonable redundancy to soften the blow, which if I am a little careful, could see me though 12 months or more without a job. I am pretty experienced, well educated, so I am hoping there is job out there for me, even if the T and C's are somewhat less than I am an used to.

So the question is, should I spend some of this money on a new bike ? Was planning on buying one last year, but with things a little precaurious thought the better of it. Nothing flash, £1500 or so, heart set on a carbon frame ( side note : a visit to Halfords completely put me off a Boardman)

My conscienious is nawing at me. To be fair, my wife would be pretty indifferent - it is me that needs convincing !!

GET THE BIKE!!

IronHorse100

yeah hell, get the bike - you'll be renewing your enthusiasm for cycling and investing in yourself. You only live once. A lot of people telling you not to but without really knowing your circumstances. If you have dependants, that's maybe another matter altogether.

ex-pat scot

Bike as a present for yourself when you get another job.

Bonus points if you can get it on a C2W scheme with your new employer

Hope it's soon!

Ollieda

Why not put your bike budget in some sort of savings plan (there's loads out there) that way when you get a job the money is there tucked away for the bike and if theres any interest earnt then you can get some extra kit!

If the sh*t hits the fan in terms of you not getting another job within 12 months you can always withdraw the money from savings if needed.

Stewie Griffin

Ollieda wrote:

Why not put your bike budget in some sort of savings plan (there's loads out there) that way when you get a job the money is there tucked away for the bike and if theres any interest earnt then you can get some extra kit!

If the sh*t hits the fan in terms of you not getting another job within 12 months you can always withdraw the money from savings if needed.

For once I agree with the sensible approach, normally I would have had a go at you for not giving us the options of bike you had narrowed it down to. Stick in an account and forget about it until you need rewarding 8)

SCR Pedro

I agree. Once the new job is secure, then buy a new bike. That's what I did, and the extra time gave me the chance to sniff out the excellent deal I got on my TCR.

Pedro

brin

Get a bike now while you can afford it, and enjoy riding it in all the spare time you will have on your hands, providing it's not gonna be a big % of redundancy. Better than sitting on yer ass mulling, it will be a big boost for you, and never mind the credit crunch, a job will come along eventually, esp as you seem keen to find one.

mrushton

You may be able to get one thro' the bike 2 work scheme. There was an article on doing this yourself in the Guardian. If you could get the wages dept' to agree (and they might not give a toss) then you might wangle it.

solsurf

lifes too short, you say you have been known as being tight, so you probably have the savings so go and enjoy the time on a new bike , it will make you happy and you will get an even better job because of this, :twisted:

Evans have the Felt Z35 on sale at £1299 grab it while you can

Being sensible though it all really depends what dependants you have.

ScottieP

As someone who has taken a bit of a hammering in the recession - I would say get the bike if you can wangle the cash to do so. After being made redundant (without a payoff) I got to do loads of cycling and got fitter than I'd been for years. I'm still battling with finding work - but I've rediscovered cycling and am much happier if much poorer (and have spent loads more quality time with my wife and kids). I've been pining for a new bike for the last 18months and still don't have the money .... so am still pining. Do realise it can take a while to find a job - so you've got to find ways to keep happy etc in the meantime. In the last 20 years I've been made redundant 3 times ... I now think it's annoying but not a big deal. There are always more and better opportunities out there.... sometimes they just take a while to find their way to you.

guilliano

I say buy the mountain bike I have for sale and go get muddy while you search for a new job....... but I may be biased!

morstar

While you are out of work, there are two things you need to do. Dedicate serious time to finding a new job...and dedicate serious time to your wellbeing. Having a bike to ride may just be the most important in your life if there are low times. A healthy mental state may help you to focus on job hunting successfully.
Only you know your true situation. I wouldn't rule out the bike though.

rake

you will need something to do while unemployed to keep yourself sane. if its not too much of a chunk of your money i say get a bike and feel happy.

oldholborn

Buy it!!
First rule of redundancy, enjoy it.

deptfordmarmoset

My instinct is to say don't get the bike just yet, give it a little time. However....

If you're lucky, you'll get a job, so reward yourself with the bike.

If you're unlucky and you find yourself spending hours looking for work and getting nowhere, you may have to consider a bike as a personal investment. You'll have to ask yourself: ''Am I worth a decent bike? Do I deserve to feel good on the road even though I don't have a job?''
In which case your answer might be to invest in a bike. I'd guess you're going to be better prepared for a demanding interview if you keep yourself fit, energised and proud than if you've done nothing else but sit in front of the computer all day searching for that elusive job - and it can be very dispiriting. As long as your wife is happy and you're not riding to escape reality, getting that bike could be your ''because I'm worth it'' moment.

Hiring someone is an investment. Why should anyone hire you if you don't even consider yourself worthy of investment?

(I know this is a bit ''heads, buy a bike, tails buy a bike'' but I'm not being sponsored by bike shops...honest!)

SteveR_100Milers

deptfordmarmoset wrote:

My instinct is to say don't get the bike just yet, give it a little time. However....

If you're lucky, you'll get a job, so reward yourself with the bike.

If you're unlucky and you find yourself spending hours looking for work and getting nowhere, you may have to consider a bike as a personal investment. You'll have to ask yourself: ''Am I worth a decent bike? Do I deserve to feel good on the road even though I don't have a job?''
In which case your answer might be to invest in a bike. I'd guess you're going to be better prepared for a demanding interview if you keep yourself fit, energised and proud than if you've done nothing else but sit in front of the computer all day searching for that elusive job - and it can be very dispiriting. As long as your wife is happy and you're not riding to escape reality, getting that bike could be your ''because I'm worth it'' moment.

Hiring someone is an investment. Why should anyone hire you if you don't even consider yourself worthy of investment?

(I know this is a bit ''heads, buy a bike, tails buy a bike'' but I'm not being sponsored by bike shops...honest!)

Do you work for or indeed are you Tony Blair???