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When it comes to keeping fit and healthy,we all have our different coping mechanisms. Some of us are gym buffs,pilates enjoyers,runners (weirdos),cyclists,or hikers. Others prefer to keep our workouts less land-based and opt to swim at the pool a few times a week.
You don’t have to fork out hundreds of dollars to stay fit and healthy.Aresna Villanueva
While it’s impossible to say what form of exercise is best (it’s the pool),whatever your poison,it’s likely you’re shelling out a fair bit of cash to do it,either in gym/class fees,or equipment. And though it’s important to keep ourselves fit and healthy,it’s just as important to keep our finances fit and healthy too.
What’s the problem?
According to the,adults spent about $12.5 billion last year on participating in sports and physical activities,with the median spend being $624 for males and $648 for females. This marks an increase of about $2 billion on the year prior,a rise the ASC attributed to people getting back into regular exercise habits after the pandemic.
However,despite this bump,it’s clear that our exercise spending is something we’re cutting back on as cost of living pressures rise. The average amount we’re spending on gym memberships has,and CBA spending data for June shows the amount we’re paying for health and fitness services has declined nearly 6 per cent since 2022.
What you can do about it
If you’ve been putting your health and fitness on the backburner due to rising costs,here are some things you can try:
Advice given in this article is general in nature and is not intended to influence readers’ decisions about investing or financial products. They should always seek their own professional advice that takes into account their own personal circumstances before making any financial decisions.