Are you on track to meet your financial goals?

410.363.7211
Print

How to Save Money on Fitness

September 24th, 2018 | Written by

Save money on fitnessIn a recent survey by Myprotein, Americans spend an average of $155 per month on health and fitness. The cost of gym memberships alone can be enough to uproot any budget, especially when targeting more modern, boutique fitness studios with newer equipment. While investing in one’s health is a priority for many, there are still ways Americans can enjoy the health benefits of gym memberships without all the costs.

Free Trials

Many gyms and fitness studios offer free trials, typically between a week to a full month. This is a great opportunity to try a new gym to ensure it’s truly worth the membership costs. You’ll be able to see how crowded the facility is, the quality of equipment, the classes offered, and the service level before making an investment. Additionally, if a friend has a membership, there may be “buddy pass” options that allow you to visit a class at the studio with your friend for free.

Mobile Apps

Services such as the popular app ClassPass allow customers to try a variety of gyms in their area at a discounted rate. With many fitness studios to choose from, booking a class is simple through the app and customers can read reviews and information about the gym before visiting. As an added service, ClassPass also offers on-demand video classes you can stream from the comfort of your own home, at any time, and at prices less expensive than visiting a gym in person.

Discount Websites

Websites such as Groupon and Living Social often offer deals on local fitness studios. From hot yoga to cycling, customers can purchase fitness classes in advance at deeply discounted rates.

Negotiate

While your ability to negotiate a lower rate will depend on the specific gym, large chains may be less willing to negotiate than smaller, more boutique studios. However, it’s important to do your research. Look into what other local gyms are charging and any recent deals or promotions the fitness studio ran to help negotiate a lower rate. In addition, consider the extra fees involved – not just the monthly cost of membership. For example, many gyms require a one-time initiation fee at the start of a new membership but waive this cost throughout the year, especially during off-seasons. Lastly, visit the gym in person and speak with the manager to determine a suitable price point.

Investing in your health doesn’t have to derail your budget. Speak with your financial advisor about additional ways to manage your health and fitness costs.

Related Articles:

https://www.consumerreports.org/exercise-fitness/8-ways-to-save-on-a-gym-membership/

https://www.forbes.com/sites/learnvest/2017/03/07/8-smart-ways-to-shave-costs-on-your-gym-membership/#6675c6445998 

Let's Keep The Conversation Going

Send a note.

Building Relationships | Delivering Success®
The Prosperity Consulting Group registered as a Registered Investment Advisor (RIA) in 2005. We have with a passion for providing clients with objective investment advice and wealth management solutions. Our purpose, coupled with our fiduciary commitment, is essential in helping clients achieve their financial goals. Our firm is dedicated to providing unparalleled financial planning and investment advice to individuals, families, businesses and institutions. We have identified key areas that are critical and integral to a client’s financial success. These planning areas encompass: Investment Planning & Management Retirement Planning Estate Planning Tax Planning Business Planning Insurance Planning Income Protection & Asset Preservation Education Planning 401(k) Planning
10055 Red Run Boulevard, Suite 130
Owings Mills
Maryland
21117
United States