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Are Gym Memberships A BIG Waste Of Your Money? – A NEW solution!

Gym memberships are underused!

Do you know that Britons spend more than £4billion a year in unused gym memberships?

The survey here revealed that although 23 per cent of Britons have gym memberships, only 12 per cent go regularly!

What about Aussies?

Report here revealed that $1.8 billion on unused gym memberships is wasted! 27% of Aussies with memberships go less than once a week!

I couldn't find any data on gym memberships for Singapore but I believe that there's a large portion of gym memberships are signed during the first few months of the year. You may be considering it too.

Eventually most of them go to waste.

This post is to share more my experience and a new solution called "THE GYM POD"!

Gyms want us to take their Monthly Memberships

To be honest, i hate it that some private gyms have no per entry access like anytime fitness.

Some other gyms even if they do have, they would purposely raise prices to the point that it makes sense only if you join as a member.

For example Dennis gym. I'd been a loyal customer for the past 4 years or so because of their affordable membership.

They once had a cheap per entry payment which made me really satisfied.

But in recent times, they've doubled their per entry price from $5 to a whopping $10. In addition, you could only do the per entry ONLY between 7am to 10pm. 

Cost analysis on Per Entry vs Monthly Membership using Gym Boxx

This analysis is on gym memberships in Singapore.

Gym Boxx has an active 24/hr desk service and an entry price of $8 only.

For their monthly membership, it is $780 (1 year membership) + $30 (Joining Fee) = $810.

You would have to go at least twice a week for it to be worth it as compared to their per entry rate.

Do note that the per entry visit is limited to 3 hours each time.

As mentioned above, quite possible 27% will eventually go less than once a week. They would benefit much more with per entry visits.


What if you go to the public gyms instead which is ActiveSG gyms.

They have branches scattered across Singapore and is quite possibly the cheapest.

If you work out in the gym is about 2 times a week so if we convert it to per entry of $2.50 * 2 * 4 * 12 = $240/y only.

Especially if you are new, i strongly recommend you guys to go to the ActiveSG gyms to work out first.

Get a feel on whether going gym regularly suits you.

Extremefitness is another option and it is located at West Coast Recreation which cost $3.50 per adult entry. This is a list of gyms that I've compiled for you to have a quick glance.

Description of Personal Trainer rates!

Gary Vaynerchuk has a personal trainer!

Beyonce has a personal trainer!

You may think you need a personal trainer to get you in shape. I totally understand it.

Many of the personal trainers in Singapore charge between $60 to $130.

But as all sports, in order to get good at it you need to practice.

This means starting from the beginning and sucking at it. 

Students definitely should not take on Personal Trainers

I feel the fitness training industry is aiming at students a lot and it makes me feel uncomfortable.

Students rely on their parents to pay for trainer fees.

I've seen students depend on personal trainer programs and after spending their parent's money, they don't continue to exercise.

My secrets and learning training myself

Coaching does help but it can come in many forms.

Thanks to fitness blogs and youtubers, getting into fitness has never been easier.

I've a few Fitness Youtube guru's to recommend you.

Damien Patrick and Abel Albonetti are great place to start when trying to learn exercises.

Omarisuf teaches you the science behind the training used and needed.

You can even learn from people at the gym. Most are super friendly and polite.

I've even asked them about exercises and diets to check on whether I was doing it correctly.

Not only do I learn, I think the other guy felt good sharing. It's a win win situation so no need to worry.


Yes a personal trainer helps you stay accountable and help you persevere and push forward.

But its all about your own goals. You decide if it's worth it IF you can afford.

A solution to going working out affordably and privately

You may have a new year's resolution to lose weight and look better for the year. 

The most important part is to be consistent and these are 2 considerations you may have.

1) What if you can avoid committing to a year long gym membership while you figure things out?

2) What if you actually prefer to work out in private because you are just not the extroverted kind?

Have you heard of The Gym Pod? - A solution for Gym-troverts

The Gym Pods uses repurposed shipping containers and is in operation for 24hrs.

It's one of the few public/private gyms that keeps their per entry prices as close to public gyms.

The Gym Pod uses a pass system which is SO much more customizable than a gym membership.

Why?

It is not on a per month basis. And the best part IS THAT YOU CAN SHARE WITH YOUR FRIENDS!

This is a way better package then a per month membership fixed to you.

You can even rent the entire pod if you want more privacy.

This is a small portion on the backstory of The Gym Pod from vulcanpost.com which I think is pretty cool.

"As the sole founder, Damian didn’t want to rush into things as he wasn’t sure if many people shared his gym insecurities.

I talked to everyone to understand their motivations and challenges of working out regularly, and also to get their thoughts of a private ‘share-able’ gym,” he recounted.

The idea of using a shipping container for the pod actually came from one of his friends.”


Download The Gym Pod App and get your 1st session FREE with code NEWGYMPODDER

Heads up, from The Gym Pod founder, a new gym pod has already been confirmed & is set to launch on 17 april 2019!! Find out more here https://www.thegympod.com


PS: This is another post that you may like on "Top 5 things your money is wasted on!"

Last updated on March 16th, 2019 at 07:54 am

The Astute Parent

A parent who has a sharp acumen on sieving through 'alien' financial jargon to dish out bite size financial tips from a parent's perspective.

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