off on his first attempt .. it was very surprising how much cash is needed for those things that have nothing to do with the attempt, such as rent rates electricity etc they come to quite a tidy sum
I don't see why it is at all surprising, what would be surprising is that anyone would be surprised. Do you think Steve was surprised? Unless he had a Tardis (if the Beeb has finished with it) and could be dropped down on the edge of a road to start cycling and then be warfed (don't bother to look in the dictionary for that word, I just made it up) back up into it at the end of the day, he was bound to have expenses and quite steep ones.
It would be a shame if all this ended up with him being deep in debt, but it was his choice to undertake it and, as much as I admire him for the effort, he must have known what he was letting himself in for, not only the need for a cast iron bum but also the considerable financial outlay.
Searvogel left the running of his business to his wife (the first) whilst he did his ride so the money continued to flow, but it seems from what you say that Steve has no such cushion.
I am afraid he may be in for an extreme emotional letting down at the end of all this and will need a good supply of good friends around him for support.