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Published at Monday, March 25th, 2019 - 08:31:20 AM. Cycling. By Roxanne Martin.

Cycling is not always a welcome universe for anyone hoping to save a few pennies, which makes it testing for those who don’t own many pennies at all. Many riders in their 20s will know the hardship of the twin ambitions of trying to kickstart a career AND trying to keep your bike above the standard of roadie ridicule. When (more financially viable) club-mates compare their state-of-the-art whale technology carbon rims, you might have to slink off into the background to avoid admitting how much your wheels actually cost, or that you got them from Gumtree.

Collectors spend the most money on their hobbies (£3,328), but cyclists are most serious about having the latest fashionable gear with over half (51 per cent) admitting it was important that they had the most up-to-date technology or equipment. On average, millennials have spent £2,533 on their hobbies so far, while retirees have spent £2,092. Over two-thirds (37 per cent) of millennials surveyed said they were likely to upgrade their kit, equipment and invest in the latest technology every year, versus just 15 per cent of 45 – 54s or seven per cent of retirees (65+). 14 per cent of millennials estimate they have spent more than £5,000 on their hobby equipment during their lifetime so far.



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