Changes on the Path the FI
Since starting on the path to financial independence, there have been a lot of changes in the waffle household.
Fortunately for you, most of these changes I have already written about. These changes include how I:
- reduced my phone bill
- learned to compost
- started decluttering
- cut back on my carbon footprint
- started a company
- moved in and out of my parent's house to save money
- got rid of those pesky monthly memberships
Lots of little changes that have all made a big impact on my life.
But one of those changes I have yet to write about. I briefly mentioned it when I discussed my monthly memberships, but I didn't go into much detail.
I used to be an avid monthly membership-er (not sure if that is a word, but you get my point). I had memberships to everything: yoga clothes, music, massages, regular clothes, etc. Once I realized how much money I was throwing away each month, say upwards of $400, I started cancelling all of my memberships.
The Hardest Change
Most of them were easy to do away with, since they really didn't add too much value to my life. But one of them was much tougher to cancel than the others. It would also be one of my biggest money saving hacks.
For years, I went to a gym that I absolutely loved. It was a small circuit training/ boot camp gym that I attended 5-6 times a week. They were closed on Sundays, otherwise I probably would have been there every day of the week. I had an awesome group of friends there, loved the trainers, and really got a lot of value out of going there.
This gym was located one block away from my house so I could literally roll out of bed and head to class. It was also two blocks away from the beach so sometimes we would head down to the beach to do our workouts in the sand. It was brutal, but it was a great workout!
It was awesome and I was in the best shape of my life too.
But this awesomeness came with a hefty price tag: $200 *gasp* a month.
A few times, I paid in full for a year which dropped the price down to $166 a month. It helped, but it was still a lot of money coming out of my pocket each month.
Being that I went so often, I was typically paying about $8-10 per class, which really doesn't seem all that bad and I was getting a lot of value out of it.
At the time, I thought it was completely worth it. I knew it was a lot of money, but I felt great and I had the salary to cover it.
But now with the increased financial knowledge that I have, I know that money could have done much more for me if I had invested it instead, especially being that I was in my mid-twenties during this time. Hindsight is always 20/20, right?
Cancelling My Gym Membership
After awhile the price tag started to wear on me. I decided to forego my fancy gym membership and try out ClassPass in order to drop the price a little bit, but still have access to a gym.
At this point, I was paying $125 per month for an unlimited membership. Better than $166-200, but still a lot to be paying for a gym. I did it for about one year and enjoyed it while it lasted, but I finally reached my breaking point and no longer wanted to be paying for a gym membership.
What To Do Without a Gym
At this time, Mr. Wow and I had moved from our termite-infested beach apartment and out of my parent's house to the place that we are in now. One of the perks of our current spot is that we have a big garage.
And you know what they say about a big garage... so much room for activities.
So we decided to convert half of our garage into a home gym. Bye bye monthly gym membership!
Fortunately, when Mr. Wow left one of his previous jobs they happened to be moving offices and getting rid of all of their gym equipment. Being the savvy frugalist that he is, Mr. Wow snatched up a lot of the gym equipment, including a dumbbell weight set, weight bench, resistive bands with handles, jump ropes, combat ropes, yoga blocks, a fan, and floor mats. All for free!
Weights, weights, weights... everybody!
The dumbbells alone would have cost around $1,000 if we had bought them.
Oh and he also acquired all the Insanity videos, including T25 and Insanity Max, P90X, and Hip Hop Abs.
Over the past two years, I have added a few things to the gym as well, including a hand-me-down TRX trainer, wooden box that my dad built, and resistance bands.
The box my father built
When everything was said and done, we had spent all of $10 (being that we only had to buy the resistance bands) on getting this home gym set up. For what it is worth, I'd say it was a steal.
And it's pretty sweet if I do say so myself.
What I have Gained
While I originally thought that I wouldn't enjoy working out at home, I've actually gained so much more than expected.
- Time: It only takes me one minute to "commute" to the gym aka walk out my front door, open the garage, and turn on the music and fan. I now have more time to devote to other parts of life.
- Intrinsic motivation: I used to rely on others to help me get fit, but now I
have learnedam learning how to rely on only myself. - Choice: I no longer have to do what someone else wants me to do. I have control over the exercises and routine that I do.
- Money: You don't need to spend a lot of money in order to be in shape. You just need to dedicate some time. And it doesn't hurt that almost $5,000 has stayed in my pocket over the past 2 years and has the chance to be invested in order to continue making more money.
- Podcasts: I used to be a music person, but I have learned the life changing magic of listening to a podcast while I work out. I've found that listening to an inspiring personal finance 'cast is actually really motivating to work out to and once I am done, I feel great and am ready to take on the world that day.
Jump ropes and combat ropes and bands, oh my!
The Purpose of This Post
Now, I'm not writing this post to shame people who pay for a gym membership. If you actually go and you get value out of it, then you keep doing your thing.
I am more writing this post for people who think they HAVE to have a gym membership in order to stay in shape. I'm writing it because I was one of these people up until 2 years ago.
I thought that the only way that I could be in shape was to go to a fancy gym. I thought it was the only way to provide me motivation both socially by wanting to impress the trainers and other members, but also monetary since I was paying to go there.
When I first cancelled my membership, I honestly thought that I would test it out for a month or two and then go right back to the gym.
I was so wrong.
Since cancelling my membership I have continued to use my home gym almost everyday.
I figured out a weekly routine that I enjoy, but that also challenges me and helps me get stronger. My workouts for the week usually consist of some blend of Insanity or P90X videos, free weights, 100+ burbees, running, and going for a bike ride to meet Mr.Wow after work.
It's true. Some days it's tough to find the motivation, but I experienced those days going to the gym as well. Overall, I have gained a lot more from having a home gym than I would have from continuing to attend the fancy gym I used to go to.
Ain't she a beauty?
The Cooldown
If I've learned anything while on the path the FIRE, it is to challenge the norm and lean into the discomfort. I thought I needed a gym membership to stay healthy. I thought I needed to spend money in order to stay in shape.
I quickly learned that working out at home also had its benefits. While it took a little adjusting on my part, it's actually become easier and easier. I lucked out getting so much free equipment and I have found so much value in working out at home.
Come to think of it, it's time to hit the gym. See ya next time Wafflers!
Who else works out at home? Any equipment that you use that I didn't mention? Know of any cheap places to buy gym equipment? Also, who here finds value paying for a gym membership? I'd love to hear your thoughts.
💬 48 comments
I've done the research though and came away with similar figures and the payback period is only around 5 years after everything. The kicker is the space, it's hard to find a spot in our home for it. Plus part of me enjoys going to a place and out of the house. :)
The life changing piece of equipment for me was a power cage complete with a bench and barbell set. That’s actually all I have and it’s everything I need for a complete workout. Beautiful simplicity! It also allows you to bench and squat safely by yourself.
When I lived out in Hermosa Beach that was the one spot my company didn’t have a gym so I’d just do beach workouts and run on the strand all the time!
We have a workout room at home, but also still pay our gym membership. We pay about $15/month each only because they have a lot of good equipment and it's right down the street. Probably also keeping the gym membership because it's the only public place I go to some weeks :)
Your gym looks good and your muscles will probably make me look puny, but I am okay with that! Keep on working out.
But really though, as someone that's seen that awesome home gym with my own eyes, I can attest it's pretty epic!
nice job on quitting that gym. i just run around with the dog.
I've never had a gym membership, ever. Never paid a dime. Granted once in a while I used to use the gym at my office for a treadmill or weights. But over time I started to hate working out indoors and now do 90% of my exercise outdoors. Sometimes that just means burpees on my patio.
And not to forget, you can always go for a run or do a jog in your nearby park, which again is super healthy and FREE
So I seem similar to you in this department, at least the former you. I love the accountability of the fitness classes. Currently, my boss pays for my gym membership so no need to cancel. I am very lucky in that department.
However, if it ever changes you've inspired me to know that I can push myself equally as hard in a home gym.
I get by with considerably less equipment than you guys, but a lot of my workout has shifted to doing yard-work these days. Regular morning walks are also part of my workout ritual.
Nothing like the best gym in the world -- the good ole outdoors!
We were just in the middle of whether to sign up for the gym or having one at home!
We also happen to have an extra room which stays empty in the past two years since we moved in. Why didn't I think of turning it into a gym room in the first place?! 😝
P/S: I reckon that it'd be a plus if you also have a treadmill at home!