This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

10 Strategies for the Best Gym Membership Deal

5. Family plans

If you and your spouse plan to join the gym together, inquire about a special family or couples rate. This way you and your family have access to the gym, but you're not all on the hook individually for separate membership fees and contracts.

6. Negotiate

Especially in January, when gyms are under pressure to attract members, you'll find the negotiation process more flexible, so it's worth being honest about what you can and cannot afford.

"Tell them your financial situation -- that you want to work out but you're on a budget and you can afford only up to X dollars per month. Ask them what they can do to make this work," Pavini says.

7. Extra perks

If you're not able to negotiate a lower membership fee, see if you can ask the gym to throw in some freebies, such as sessions with a personal trainer.

"Now if you're on the fence as to whether or not you should join, the gym will sense this and start to throw in some incentives if they feel like you're going to walk away," Pavini says.

8. Wholesale memberships

On the flip side, if you're ready to commit to an extra-long gym membership -- we're talking two years -- you can score a great deal by buying a membership at wholesale membership clubs.

"If you are sure you want to make a long-term commitment, turn to warehouse stores like Costco (COST), which sells a two-year membership to 24 Hour Fitness for $349.99," Pavini says. This amounts to just $15 per month.

And, as mentioned, be sure to ask the gym how you'll get your money back if the gym closes.

9. Health issue

Especially in a long-term gym contract, in eight months if you become injured and can't work out anymore you don't want to be paying for a membership you can't use.

"Make sure there's a release clause in the event of a medical condition -- the gym will try to put the membership on hold, but it's better to have the membership canceled," Pavini says.

If the gym freezes the membership, you're still responsible for paying the remainder of the contract after the freeze period ends, which is why it's ideal for the membership to be canceled in the event of an injury.

10. Cancellation policy

And speaking of cancellation, be sure you know the cancellation fees before you sign the contract. These fees can be as high as three months' worth of membership dues.

There may be certain circumstances in which the cancellation fees can be waived or lowered, especially if you move to another city and are no longer near the gym. If you're joining a gym with locations throughout the country, inquire about the cost of switching to the same gym in another city.

Gamm is the founder of the personal finance website . He has appeared on NBC's TODAY, MSNBC and CNN. Follow Scott on Facebook and Twitter .
2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $111.31 0.00%
FB $92.80 0.00%
GOOG $645.44 0.00%
TSLA $241.46 0.00%
YHOO $30.96 0.00%


Chart of I:DJI
DOW 16,790.19 +13.76 0.08%
S&P 500 1,979.92 -7.13 -0.36%
NASDAQ 4,748.3610 -32.9030 -0.69%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs