Yahoo Finance Gym rats: $27 expense actually losing Aussies $1.9 billion every year
Unused gym memberships are costing Aussies billions. Here’s how to stay fit on a budget.
While the average Aussie spends just $27 per week on their gym memberships, the amount going unused is shocking.
Australians are forking out billions on fitness memberships, despite some well-intentioned people never setting foot in the gym.
The average Australian gym-goer spends $1,404 a year on memberships, equating to a national spend of $11.1 billion, according to a Finder survey of 1,073 respondents.
However, almost one in five (17 per cent) Aussies with a membership admitted they had never gone to the gym. That’s $1.9 billion in wasted fees and, in a cost-of-living crisis, every dollar counts.
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Time to ditch the gym
Finder head of consumer research Graham Cooke said it was time for some Aussies to break up with their gym.
“Many of us have been moving less since the pandemic began, but some of us are forking out hundreds of dollars a year for nothing. It's time to put that money to better use,” he said.
Cooke said for those who did turn up at the gym, exercise was an investment in their health but, for those who didn’t, there was no point in paying for the membership.
“If you do sign up for a gym, look for one with a short cancellation notice period – and never agree to a long lock-in contract. Also, ask them to waive the joining fee,” he said.
“However, you don’t need to have a gym membership to enjoy the benefits of exercise – walking or running and at-home workouts can be just as beneficial. Home gym equipment can be much cheaper than a membership, if you have the space.”
How to keep fit on a budget
Look for a gym with a short cancellation notice. If you're signing up to a new gym, ask them to remove the joining fee.
Workout free. Instead of the gym, consider workouts like body-weight exercises, running, walking or swimming. You'll also get to enjoy the great outdoors instead of a crowded room.
Consider "pay per visit". Infrequent gym goers may be better off paying for casual visits rather than signing up to a costly membership.
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