Advice needed -- Should I buy off my expensive fitness contract?

MrStudent_2

Hello,

A few months ago I signed a year contract with a gym.
I regret that I signed the contract because it is quite expensive, I do not use all facilities and I only sport once a week (because of the costs and problems of the gym it really demotivated me).

I paid 69,90 euro registration fee. The first month I paid 44,75 euro and after that I had to pay 65,95 euro every month. (I currently paid them a total of 246,55 euro)
At that time I had an income of 107,56 euro each month, so it costed me 61% of my income!! I had money on my saving account but I didn't want to use that money.
I had to find a job next to my study and I currently earn about 275 euro's a month (So my fitness currently costs me 23% of my total income).

I made a list of the advantages and disadvantages of my current and maybe 'new gym'.
Current gym:
+ The enviornment looks good
+/- It's a big gym
+ My friends are also at this gym
- I do not use all facilities (no sauna, swimmingpool and grouplessons, only fitness equipment)
- It takes about 20 minutes to get to my current gym with the bus.
- It's expensive
- It's a year contract

New gym:
+/- I will only use the fitness equipment (no grouplessons)
+/- It's a small gym
+ It's close to my home
+ I found another gym where I could walk to in less than 5 minutes and it costs about 42 euro each month (registration fee is 45 euro).
+ I could end my contract after 3 months
- The enviornment looks quite cheap
- No friends at this gym


I have three options:
1) I have read about some people wanting to buy off the contract and they actually had to give up a good reason to buy it off.
If I would buy this contract off what is the maximum amount of money I should pay? (I have read about other people paying around 160 to 200 euro's)

I currently have paid: 246,55 euro (3 months + registration fee)
If I would look at the future of my current or 'new' gym:
Current gym = 9 (months)*65,95=593,55 euro
New gym = 9 (months)*42 =378+42 (registration fee)= 420 euro
Difference = 593,55-420=173,55 euro


2) It might be possible to change my contract type from a year contract (65,95 euro a month) to a 3 months contract (about 95 euro a month)
This means I will fitness for another 3 months at my current gym and after that I will end the contract.

I currently have paid: 246,55 euro (3 months + registration fee)
Another 3 (months)*90=285 euro

* The new gym's 42 euro contract is and I can fitness unlimited, but it's also an option to fitness once a week 29 euro a month

3) Live the contract out
9 (months)*9=593,55 euro

I am wondering if it is financially worth it to buy this contract off. If it's not worth it to buy it off or change the contract, when is it?

mrs-d_3

Hi I don't have the answer I'm afraid but wanted to bump up your thread so others can see it. I do have to ask do you really need to go to a gym? It's a lot of money that would be better off in a savings account.

MrStudent_2

This morning I couldn't find my topic and was worried that nobody would reply on it, so thank you mrs-d for kicking my topic!

I need to exercise (to prevent RSI/obesity/etc) because I sit down behind my computer all day for my study and work.

Interesting point of view.
There is another solution I could swim once a week (5 euro a month)
Fitness at the 'new gym' with a contract which lets me fitness there at most once a week (29 euro each month)

I could also buy the fitness equipment (which is quite expensive but if I use it long enough I think I will have benefit over the long run)
I think the last option isn't the best option because I don't have a lot space for the fitness equipment and I think I am more motivated at the gym.

I would like to keep my main question on topic:
"I am wondering if it is financially worth it to buy this contract off. If it's not worth it to buy it off or change the contract, when is it?"

Sea78

I think that changing it to the 95euros for the 3 months and then cancelling might be worth it - then also just going swimming after that so you don't get caught in the same position another 6 months down the line.

Sea xx