Where there's a wheel there's a way to save big money

DAMIAN Walsh is convinced of the financial windfall that cycling to work provides; it has helped pay for his home renovation and will pay his son's private school fees.

While Mr Walsh, a Collins Street lawyer, cycles to work from Brunswick, his wife, Junko Kobayashi, uses the family car for errands and school drop-offs. They have been a one-car household since 1997.

Mr Walsh said the money they have saved has helped pay for a $450,000 energy-efficient renovation to their home.

''Car insurance alone would cost us $1000 a year,'' he said.