Fitness and Finances #3: The Cost of Investing in Your Health
You've read Fitness and Finances Part One and realized how much poor health costs you. Then you read Part Two which talked about how much eating out costs with some more information on the cost of poor health. Hopefully, you are beginning to be convinced of the need to make a change and I hope you are convinced that it makes financial sense to make that change. Investing in your health is a sound financial decision. Benjamin Franklin had it right.
What are your options?
#1. You could join a gym.
There is a whole spectrum of gyms offering a variety of amenities depending on your budget. Average cost is almost $60 per month, you are often locked into a contract for a year and on top of that you will likely pay a fairly large initial fee. And studies have shown that two thirds of gym members don't go the gym! [1] That means even if you join a "cheap" gym like Planet Fitness for $10 per month, if you are one of those 67%, you are wasting $120 per year. Average gym attendance is less than 5 times per month. Are you going to stay in great shape only working out once per week?
Why the low (or no) attendance? I believe it is because most people simply feel lost or overwhelmed. They are surrounded by machines, free weights, sometimes racquetball and basketball courts, group classes, swimming pools, saunas, and boatloads of cardio machines. Imagine you are new to a gym and this is what you walk into:
Do you know what to do?
Or how about this?
Wow! It is sensory overload. It is enough to make your head spin and keep in mind those pictures didn't even show group classes, courts or pools. Most people do not know a whole lot about fitness, so how can we expect them to succeed with countless options and no guidance?
#2. You could join a group class.
This could be simultaneous with #1 or separate. There are studios which offer only group classes and you will likely be paying $35 per class [see image below]. If you are like the average gym goer mentioned above, attending 5 classes per month will leave your wallet $150 lighter. You may enjoy the group environment and receive some encouragement from it. You will have an instructor teaching and they may correct you, however, this will be limited by class size. Don't expect a lot of correction in a very large group. Additional downsides include scheduling and goals. You have no say over when these classes occur, you are stuck working it into your schedule. Also, the instructor does not have your goals in mind. Granted, you can pick a group class most closely related to your particular goal, but there will still be no individualization for you. That's a large amount to pay for a lack of personalization and flexibility.
#3. You could hire a Nutritionist.
You may consider a nutritionist and you will get dietary recommendations. But now you are only getting half of the picture. You are missing out on the weight training part of the fitness equation. Additionally, this option will likely cost you between $150 to $500 per month. Too much to pay while not getting the guidance you need on weight training and cardio.
#4. You could hire a personal trainer.
This could be in conjunction with #1, or strictly through a private personal training studio. There are some great benefits to hiring a trainer. You will get one on one attention. You will get feedback on your exercise form. They will likely suggest exercises to go on the days you do not see them for a session. A personal trainer will be more flexible than group classes but you are still not fully free to workout whenever you want. A good personal trainer will help you get the most out of your gym membership and will also know how to help you with nutrition.
Granted, personal training can cost a couple hundred dollars per month, but the cost of poor health and eating out is much more than that! You recoup your investment very quickly with a good trainer.
Think about your options!
Reference:
1. https://www.cheatsheet.com/money-career/why-a-gym-membership-is-usually-a-bad-investment.html/?a=viewall
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