I work on bikes almost daily. Often my own, often others' as well. Over the years I have collected an impressive amount of tools, lubricants and polishing attributes. In article my 5 favorite tools. In no particular order!
With a pair of Allen wrenches, you can build almost an entire bike. An allen key tripod is therefore an indispensable tool. The big advantage of a tripod is that you can get the right size faster and the tool fits comfortably in your hand. The price is also good, with prices starting at €15.
Extremely useful for all sorts of things. Cleaning, blowing dry, inflating tires or making them pop. A compressor really does come in handy quite often. If you want to know more about it, we previously wrote an extensive article about it.
How I hate doing jobs on a bike that's on the ground! A good stand is really a must. The German budget supermarkets sometimes sell reasonable stands that don't cost much (about 25 euros). Great for the occasional home mechanic. If you are working on your bike almost daily, like me, you want something better. I bought the top model from Feedback Sports last year and I don't regret it for a second. Tacx and Park Tool also have very nice solutions.
It is always dangerous to start talking about chain maintenance, because everyone has their own favorite method. And that's right: there's more than one way of doing it right. What is certain is that a chain wash works super well and takes little time. Fill it with your favorite degreaser (I love Dasty) and turn the pedals I personally use the Parktool car wash, the big advantage of which is that the brushes are sold separately.
For those small and fiddly jobs, a dental hook is really a godsend. You can work with it very precisely and get into corners where you normally do not come. Also for maintenance of wheel bearings and cables really indispensable. You can find them online for a few euros, or just ask your dentist. They will gladly give you a scrapbook to take home.