Tire levers
If you possess Mavic wheels, the proper way to change the tires is with the Mavic levers which cost $10. Even if you don’t have that kind of wheels, the large, flat blade and hard plastic frame make them sensitive to rims and tires and just as efficient on stubborn ones.
Cable cutter
The cable cutter is probably one of the first things you need to acquire for your tool box. Maybe it’s not so cheap, but it’s very essential. You can buy a quality thing for about $50.
Compact scissors
A lot of professionals love Fiskars 5 inch Micro Tip scissors, especially the price of them ($17). They’re handy for trimming handlebars wrap and cutting vinyl tape. And you’ll immediately know where they are the next time you need to liberate a new toy from an annoying blister pack.
Hex keys
This tool is also known by its name, Allen keys. You can buy them of certified toolmakers, or you can get quality metric keys at any hardware store. Bondhus is very famous and popular brand.
The trademark of Bondhus is a ball-shaped tip, which enables you to quickly spin bolts from an angle, on the places where access is limited. Get the next sizes: 1.5-, 2-, 2.5-, 3-, 4-, 5-, 6-, 8- and 10mm. These are perfect for tiny set screws on suspension-fork adjuster controls, crankarm fixing bolts, etc.
Vise-whip and cassette lockring tool
When you have to change your cog-set, the one piece of tool won’t help you. But, Pedro’s Vise-whip (the price $70) locks into place on the cog, eliminating the possibilities of a knuckle-busting slip of a regular whip. Combine it with the $25 Cyclus cassette lockring tool that has both Campagnolo and Shimano lockring compatibility formed into a single two-sided tool.
Multi-tool
A quality multi-tool is a useful thing to have. Always carry something like Lezyne RAP 13 which has eight sizes of hex keys, a chain tool, a Phillips screwdriver, third spoke wrench for Mavic splined nipples and two sizes of standard square-spoke wrenches. It cost around $25.
Four-way screwdriver
Those who cherish space efficiency will love this bike tool. Choose a version with solid steel tips that won’t round off. The four sizes will fit almost every flat or Phillips screw on your bicycle.
Spoke wrenches
We can’t recommend the perfect wrench for you since there are so many of them on the market. If you have standard square spoke nipples on the wheels, you can’t make a mistake with Park Tool’s SW-0, SW-1 or SW-2; they all cost $8 each. The design has barely changed since the 1960s—the reason is it doesn’t need changing.