Taking care of your body by maintaining a fitness regimen is so important for your physical and mental health, but the cost can really add up. With some group fitness classes averaging $40+ per drop-in or ranging from $275 – $450 for a membership, burning calories can burn a hole in your wallet really quick! When you are working on a personal budget, if fitness ranks high for you in importance, and you can budget other expenses to afford these classes, then you do you, boo! But if this spend is unachievable or taking up too high of a percentage of your income…here are some thoughts to help you cut while you cut expenses:
Online Fitness– While COVID brought about many not-so-great changes to our day-to-day lives, one blessing it did bring is access to online fitness! Most fitness studios still offer online access to classes for a fraction of the cost to take an in-person class. While it does require personal motivation and may not have the same energy as being in studio, you will still benefit from physical (and now financial) fitness. Here are some studios:
Rumble Boxing – shadow boxing/HIIT workout
Harbor Yoga– bootcamp style vinyasa flow yoga
Sweat– variety of workouts from HIIT training, strength training, low impact, pregnancy, Pilates
Core Power– vinyasa flow, Sculpt (yoga w/ light weights)
Home Studio- If you have the space in your apartment/home, turn some empty square footage into a fitness studio! With a yoga mat, range of 3 dumbbell sets, band, and if you splurge, a bike or treadmill, you can get in great workouts at home! Like hot yoga? Buy a space heater and crank that sucker up! By making the majority of your workouts home workouts, you can save money to put toward a couple group fitness classes or budget elsewhere. If you do want to purchase equipment, check out Facebook marketplace for a used one!
Group Fitness Packages- Even though group fitness is pricier than your average gym membership, it does carry more benefits beyond your physical health. It is a place to meet people, socialize, gain energy, and if it’s a boutique studio, support small businesses! For many, home workouts or gym workouts are just not motivating enough, and they need a studio schedule to maintain their performance. No problem, we have advice for that, too…Packages!
Do not waste your money on drop-in classes. They will always be your most expensive way to buy. Commit to a package or an unlimited membership, but make sure you do the math and the research. Many studios offer an intro-package so take advantage! Try out different instructors, class styles, etc. Make sure it is a workout that you can commit to multiple times a week, so that your cost per class is as low as possible and you are getting the most out of your membership. If you only like one instructor, or can only make one class time, it’s not worth it! Also, check in with the studio and see if they do any discounted packages during the year. Studio anniversaries, New Years’ Resolution, Summer-time slump, all can bring about discounts.
Gym Memberships- If home studios aren’t enough, and group fitness is too $$$, gym membership will be the way to go. You will have the flexibility to go at a time that works best for you, and most gyms offer free group fitness with their membership pricing, so you receive that benefit, as well. If it is a large gym corporation, you will have access to the gym in other cities, so you can maintain your workouts while out of town. Along with that, many gyms will offer family plans or buddy passes. This is a great way to not only save money as a household, but also have an accountabili-buddy to get you to the gym! Again, check with the gym and see if they are offering any seasonal discounts, referral discounts, etc. Here are some great ones to check out:
Whether you do home or studio workouts, taking care of your physical fitness is so important, and we are here to tell you, it is also important to flex your financial fitness. Become a true Money Athlete by training your bank account just as you train your body and make your money work for you. An easy place to start is by opening up an investment account.
Or, use the savings to pay down credit card debt.. STOP giving your money (in interest) to the credit card companies, you are basically throwing the cash into the street each month.. pay down/off that credit card debt!
Become a Money Athlete, so you can bulk up BOTH your body and your bank, your future self will thank you!
