Cancel your gym membership

March 12th, 2008 | By SebLiving

gym.jpgEveryone loves the gym. After all, it’s the number one New Year’s resolution. Odds are, if you haven’t joined a gym yet, you considered joining one around the same time the ball was dropping over Times Square. If you haven’t joined a gym yet, then good. If you have joined a gym, grab and phone and start dialing.

It’s time to cancel that service and start saving money.

Gym memberships typically run around $50 a month, and some as high as $100 a month. What do you get in exchange for your monthly dues? Treadmills, stationary bikes, weight machines and free weights. Now ask yourself, do you use all of the services that your gym offers? Chances are, your answer was no. Most people end up using the cardio machines or the weights, but not both. So if you’re not using them why pay for the services? Below are some cost effective alternatives toyour gym routine.

Cardio
Do you enjoy using the treadmill or the elliptical machine? How about the stationary bike? Use these (nearly) free alternatives to get the same great exercise while saving money.

  • If you’re already using the treadmill, odds are you have a decent pair of sneakers. Lace them up, and head outdoors. Whether you know it or not, there are some great walking/running paths in your neighborhood. Websites like Favorite Run will help you find them.
  • If you like to ride the stationary bike, check out your local Craigslist for some great bargains. You can buy a decent used stationary bike for under $100. And if you like to go places when you pedal, the same goes for a regular bicycle.
  • Rollerblading, while less stylish than it was in the 90s, is a great way to break up the monotony of the same cardio routine.

Weight Training
You can buy free weights and other workout machines for pennies on the dollar at yard sales or on sites like Ebay and Craigslist. What you will need, and which isn’t cheap, is space. Workout machines like a BowFlex or other weight training machines can take up a lot of room. Basements or spare bedrooms make for great home gyms. Just be sure to talk it over with the family before you start dragging complex equipment (that might pass off as torture devices) into your home.

More reasons to cancel your membership
Of course, you might be saying that you don’t want to cancel your membership for the convenience of it. After all, having all that excercise equipment in one space is a great benefit. But what if I told you that:

  • You are surrounded by bacteria, including on the equipment and in locker room towels.
  • Gyms typically aren’t equipped to handle emergencies.
  • Trainers don’t need any type of certification, at all.
  • Gyms try make it very difficult to quit membership. If you don’t pay your dues, you may get reported to credit reporting agencies even if you claim you canceled your membership.
  • There are no requirements to maintain equipment to any standards.
  • Gyms aren’t liable if the contents of your locker are stolen.

Granted, the motivational power that you get from working out with like minded individuals can be very encouraging. But next time you pay your monthly dues, ask yourself if you are getting your money’s worth out of it.

2 Responses

  1. Future Millionaire

    I totally agree with you Seb if some one’s not using their membership or the alternatives work for them that they should cancel their gym membership.

    Personally I’m quite content to spend $50 a month (and be more frugal in other areas) in order to have access to a gym. The alternatives don’t work for me on a regular basis. I train for long races and use both cardio and weights.

    Here’s why I pay for my gym membership:
    1. Its cheaper than long term health effects
    2. I live in a 1 bedroom apartment and don’t have space for gym equipment
    3. For my quality of life I work out early in the morning (say 4am) on the weekdays and its too dark at that time to run outside safely at those hours
    4. It holds me accountable – I know I’m paying that money every month so I better make the most of what I’m paying by going to the gym often
    5. I enjoy the camaraderie of the gym without having to have an official work out partner
    6. I like the variety of options at the gym so I can effectively cross train

    I think its all about choices; I’ll willing sacrifice other things in life in order to maintain my membership. Other people would be willing to sacrifice gym memberships for other things in life.

    Future Millionaire’s last blog post..Everyone’s in Debt? Really?

  2. No Debt Plan

    I actually wrote about this a while back: http://www.nodebtplan.net/2008/01/14/dumb-money-the-gym/

    For some people, if they use the gym every day, they get their individual costs down to the point where it might make sense. Most people just burn it away and never go.

    No Debt Plan’s last blog post..Our Cars Cost Us $0.242 per Mile

Leave a Reply

Disclaimer: The authors of Pinching Copper are not professional financial advisers and no text within this website should be considered financial advice. Any individual who makes financial decisions based solely on the information contained within does so at their own risk. Always consult a financial professional.