The Hidden Gym Membership Fees People Say To Ask About Before You Join
You’re going to get healthier this year. And to take your first steps toward meeting that goal — even if they’re on a treadmill — you’re seriously considering joining a gym. But as you contemplate your future health gains, you should also be aware of the financial pains that can come with gym memberships, especially the fees that show up after you’ve already signed up.
Members of the MoneyLion Community know this all too well. They’re committed to both their financial health and staying in shape, so they had plenty of advice when we asked them about the hidden gym membership fees worth asking about before you join.
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The Trap of Annual Fees and Surprise Charges
There are some surprises you’d welcome at the gym, like discovering you can lift more than you expected or that you’ve shaved 20 seconds off your mile pace. Other surprises, like fees buried in your membership agreement, aren’t nearly as welcome.
Our Community members say this is one of the biggest traps to watch for. One member said point-blank that any gym membership costing more than $10 a week simply wasn’t worth it. When promotional discounts and sign-up offers expire, members can find themselves on the hook for higher-than-expected charges.
“The monthly fee can be tricky, as they lure you in. Then next thing you know, you’re paying a fee that is more than you were told,” said one member. “Kind of like a bait and switch ... be careful.”
Make sure you read your contract carefully — especially the fine print — so you’re not surprised later by annual fees, processing charges or sudden price increases.
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Cancellation Charges Can Sneak Up on You
You’re really going to do it this time. You’re going to the gym every day before work. Then the snooze button wins. OK, you’ll go after work instead. But now you have to pick up the kids, the weather’s nice and walking outside feels easier.
Suddenly, you’re not going to the gym regularly enough to justify the cost. You decide to cancel your membership. Ah, you sweet summer child, it’s rarely that easy. Just ask the MoneyLion Community.
“I got stuck in a yearly membership, and it totally sucked because I couldn’t cancel it when I stopped going due to injuries,” said one member.
That frustration was so common that another person joked a gym membership is basically a yearlong donation.
One MoneyLion Community member said they’ve had only two gym memberships in their 43 years of life, in no small part because getting out of a 12-month contract was so difficult.
“Yeah, they definitely raked in money off me,” they said.
Before you sign up, ask how and when you can cancel and whether there are cancellation fees, notice requirements or lock-in periods.
You Can Be Charged for Premium Amenities You Won’t Use
One person’s gym perk, like red light therapy or a jacuzzi, could be another person’s waste of money. Sure, that Olympic-size pool or elite Pilates studio sounds impressive in the sales copy, but if you don’t plan to use them, you could be paying extra for benefits you never touch.
In addition to reading the contract carefully, MoneyLion Community members also advise being realistic about your fitness goals. You might find that walking around the block, lifting at home or using free workout videos online can help you accomplish the same objectives without the added cost.
One Community member suggested weighing what’s included in your membership against the monthly price.
“It depends on the fees and how much is included in the membership,” they said. “Facilities, class access and location access all factor into the equation.”
The Bottom Line
If MoneyLion Community members had one key piece of advice, it’s this: Be honest with yourself before you sign up for a gym membership. Otherwise, your money could feel the burn long before you do.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal, or tax advice.
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