Unused gym memberships
The average gym membership fee can cost up to $50 to $70 a month. You can easily pay more money than that for membership in the newer, hype-crazed, exclusive gyms that open. When you add in initiation fees, that can add up to $800 a year, or more. Over 60 million Americans paid for membership in a gym or fitness club in 2017.
The sad reality is that most of them give up or never even make sure of their paid gym memberships. Many never go after paying for a membership. They give up completely after a few visits within six months. Only about 18% to 20% of Americans ever make regular use of their gym memberships. Of that number, only half will visit the gym 100 times or more a year and make the most of their memberships.
Gym owners project their financial profits based on the probability of you ditching your membership. Almost all sign up more members than can be reasonably be accommodated. They know everyone won’t attend. If you sign up via credit card, check your statement. Make sure that your gym is not automatically renewing your monthly membership. It’s a stealthy way to increase their margins on the 82% of members they know will drop out.
For all of this financial drama, you are better off researching workouts online and working out at home. Safely make the most of your home environment to get the most out of your workouts. Invest in few pieces of home workout equipment if desired. It doesn’t make sense to buy expensive workout equipment just to use it as a clothes hanger shortly after purchase.
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