Joining A Gym For Less

It's January, and that means many Americans are making resolutions to stay fit in the new year. Kelli Grant, Senior Consumer Reporter for SmartMoney.com, discusses some ways you can save on gym memberships.

Thanks so the recession, Grant says it's currently a buyer's market when it comes to gym memberships. People are cutting back on memberships to save money; instead, they're opting to buy workout videos and get fit in the privacy of their own home.

This leaves for some negotiation when it comes to joining a gym. Some gyms are offering month-to-month memberships or shorter contracts in hopes of getting people to sign up. "Most will let you do a month-to-month membership," says Grant. "You're going to pay more for it, which, of course, is not the best deal if you really are serious about this commitment, but for most people who make New Year's resolutions... they fall by the wayside by February or March." If you're not sure if you'll be able to stick to your routine, start out with a month-to-month plan and sign up for a longer contract later.

Some employers and health insurance companies offer discounts on gym memberships, too. "A lot of these companies do offer extra discounts because they want you to be healthy to; you'll continue to go to work and you won't cost them money," says Grant. Check with your company's human resources department to see if there are any discounts you qualify for. Or, you can visit www.GlobalFit.com.

Other deals come directly from the gym itself. "You want to look really everywhere because negotiation is a key factor here," says Grant. If you're considering a chain, check the offers in different locations - the branch closest to your home, for example, may not be the cheapest. It pays to shop around. "If one gym is offering you a better deal, see if someone else will match it," says Grant.

When calculating the best price, be sure to pay attention to any fees involved. "Try to go for a low initiation fee and obviously the lowest month-to-month," says Grant. Factor in other costs, too. Your goal should be to get a clear picture of what a total year's membership will cost you.

If a gym membership still seems out of reach, consider buying second hand. "You can actually find gym passes and even memberships on eBay and Craig's List," says Grant. People who realize they can't stick to their resolutions often sell the remaining part of their contracts to the highest bidder, which can mean big savings for you. Before you pay up, though, check with local gym and state laws about buying a second hand contract to be sure your deal isn't a scam.

You can also consider low-cost alternatives to a chain gym, like joining a locally owned gym or your town's YMCA. If you live near a college or university, check with the school's fitness center; often times, schools will allow non-students to use their facilities for a minimal fee.

For more information on joining a gym in the new year, visit www.SmartMoney.com.

By Erin Shea