On yer bike! Save money on two wheels

If you’re looking at ways of saving money on transport and commuting, it seems like there has never been a better time to start biking.

A range of schemes across the UK has created a cycling revolution – and the activity not only benefits your health, but your bank account too.

Without hefty train fares, car insurance and parking costs, getting around on two wheels has never been more attractive.

The number of people taking to the roads with bicycles has almost doubled in the past 24 months.

Research from Mintel reveals the number of people interested in taking up cycling has gone up significantly in the last two years, up from 10 per cent in 2014 to 19 per cent last year.

Prudential Ride-London which took place last weekend, saw thousands of people of all ages complete the 100-mile journey from London through to the hills of Surrey – proving there is a real hunger for the pastime.

While the average cyclist spends around £340 on their hobby every year, this is in stark contrast to the thousands spent on driving and taking some forms of public transport. On top of this, there are ways to keep the costs down.

If you’re interested in cycling, take a look at Cyclescheme. This is a government-backed initiative, which helps you pay for a bike and accessories through salary sacrifice. This means that your employers can organise monthly payments out of your gross salary up to £1000 – effectively allowing you to not pay tax or insurance on the purchase. All that needs to happen is that your employers need to sign up to the scheme.

Another option is to hire a bike in one of many cities across the UK which include Manchester, London and Brighton. This can work out extremely cheap – with no bike insurance or storage problems to worry about.