Change and a $20 bill:   In case your cell phone’s battery dies, it’s nice to still be able to use a payphone if you need to.   Also, the $20 is a great thing to have in case you lose your wallet or have some other mishap.   I’d rather be able to sit in a coffee shop or fast food restaurant when it starts raining while I’m waiting for my friend or cab ride, and a hot cup of tea or coffee or the beverage of your choice and a snack makes it all the more pleasant.  Just try to remember, this is for emergencies, and if you use it, replace it ASAP!
For the budding mechanic:  A good pocket sized repair guide.   One good option is the “Pocket Guide to Emergency Bicycle Repair”  by Ron Cordes and Eric Grove.   It’s only 3.5×4.5 inches and a half inch thick.   I don’t carry this myself, but for someone who’s new to this whole bike repair business, it’s really helpful to have. A future blog post will cover this book in detail.

Man, if you're starting out and you know you'll need several components for a bag... just get this. It will save you so much time picking everything out that even if you balk at the price (amazing value, by the way) I bet that if you did the math using your hourly wage and the time spent picking everything out and making sure it fits... you'd save a lot of money and a lot of irritation if you just got this. Just get this.

Unlike floor pumps, most hand pumps do not have pressure gauges. To get readings during my original round of testing for this guide, I built a special rig involving simple hardware-store parts. But the experts I spoke to seem divided on the usefulness of gauges. Half thought they were unnecessary, added bulk, and drove up cost. Why do you need a gauge if you know 100 pumps inflates your tire? But the other half liked them, because the “thumb test” is notoriously inaccurate.
Over the years, I’ve come across plenty of articles that claim to tell you how to build up your cycling toolkit for cheap. Somehow the word “cheap” stops recurring in the long list of “essential” bike repair bits and pieces. The truth is, there is no real way to build a whole shop of tools all at once without plopping down a few hundred bucks. But in an attempt to show everyone that not all of us truly need a full complement of bike tools, I present the truest, most budget-conscious, and barest of bones options to you.
Whether you ride a single, 7, or 10 speed bike or anything in between, you will need a slightly different chain. The major difference is that they come in varying widths to accomodate the different spaces between the gears, but quality of construction is also a factor in choosing a chain. Inspecing the chain should be a part of your regular cycle maintenance procedure- It’s important to keep a chain well lubricated, but oil will also attract dirt and so different oils for specific riding conditions are available. Remember to clean your chain regularly to get the longest life out of it and the gears.