I did it. I canceled my membership at the local boutique gym in my neighborhood and I feel great about it. My membership dues at this gym were roughly 70$ monthly. In the rest of 2019 I will save about 630$ which can be used towards a number of my goals… making an extra payment towards my student loan… contributing towards the max on my Roth IRA account… saving towards the down payment on a multi-unit investment property. I have so many thoughts on how to make this money work for me and my goals of attaining financial independence.
630$ isn’t chump change. That’s a substantial amount of money that I get to reclaim and put towards my plan. And while quitting the boutique gym membership is hardly the epitome of frugality, it WAS a major financial decision that put money back in my wallet for minimal loss. Of course I loved the sauna and the steam room and the new weight racks but none of that stacks up to my goal of being financially independent and free from the need for a 9-5 grind. Especially not when I can get that same level of fitness on my own.
This decision was made easier by the fact that last fall, my girlfriend and I jointly bought a 115$ folding stationary bike that does the same job as the expensive bikes at the gym. And now that it’s getting nicer outside and summer is almost here, we can bike outside for real. I’ve been running all winter regardless but now will have all the more reason to keep myself accountable to that routine. For strength, I have a 20lb kettlebell that I’ve had since college (6 years ago) and a set of 25lb dumbells that I found by the side of the road last summer.
Free exercise outdoors, a better use for my money, and being even a small amount closer to my financial independence goals made this decision to quit the gym an easy one. If keeping your gym membership is meaningful to you, then you-do-you, I absolutely support that decision. But for me, this was the right decision, what about you? Let me know in the comments if you feel moved.