I guess it really depends on your use for a bike. If you need a high end bike for whatever sports you are into, then you would probably need to invest in a new one. On the other hand, if you are like me and use your bike as a tool, to commute or run errands instead of using a car, investing in a little time to fix your bike by yourself is worth the effort. In my case, I basically stripped down an old 1970s 10-speed bike and retrofitted it into a single-speed, coaster-brake workhorse, which I use summer and winter alike (I live in Calgary, winter is already here as of yesterday...). A single-speed bike has very few components that will require maintenance and adjustments, and is a great way to bike effortlessly around town if you gear it properly for the type of environment you live in, plus it is a cheap way to add the cool factor into your commute. It takes a little time to get used to it but after a few weeks, you will surprise yourself passing people riding 30ish-speed bikes, even on long hill climbs!