The festive season is here and for many of us that means eating, drinking and spending in excess. According to Nutrition Australia the average Australian gains 0.8k-1.5kg over the Christmas period, so it’s no wonder a lot of New Year resolutions will include signing up to the local gym.
But how much is that gym membership really costing you? According to Your Money Magazine, joining a gym might be the most straightforward way to exercise but not necessarily the most cost effective.
Your Money Magazine managing editor Jackie Pearson says gym memberships often come with complicated fee structures and terms and conditions that can cost unwary exercisers dearly.
“Before you sign up to your local gym, do a bit of research and make sure you’re getting good value in terms of what’s included in your membership and the number of machines available,” says Pearson. “It also pays to check the terms and conditions and how easily you can cancel your contract so you don’t get gouged by shady tactics and hidden fees down the track.”
As for buying your own fitness equipment, it’s not always the cheaper option. Shelling out for a $3,999 cross trainer will cost you about the same as three and a half years of gym membership so unless you are certain you can stick it out long enough to get your money’s worth, you’d be better off going to the gym.
To find out which fitness option is the best value for you, see the latest issue of Your Money Magazine. On sale at local newsagents or online at www.yourmoneymag.com.au.
Your Money Magazine
Your Money Magazine is for all Australians looking to increase their personal wealth and achieve the lifestyle they desire. Your Money Magazine’s key focus is to educate the Australian public about money management by providing down-to-earth, easy to comprehend content, detailed product comparisons across a range of categories, and recommendations from some of the country’s leading industry experts.
Combining in-depth research and product comparison tools with shrewd financial education materials Your Money Magazine takes a unique place in the Australian market allowing readers to not only compare existing products but to educate themselves and take decisive action all in one place.
Find us on Facebook: www.facebook.com/YourMoneyMagazine
Follow us on Twitter: @YourMoneyMag
P: 02 8437 4797