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New Year's Resolutions cost how much?! We tell you how to save money



We tell you how to save money

This is how much Money you’ll spend on your New Year’s Resolution. But don’t worry, we’ve got you covered...

When we set ourselves a New Year’s resolution, we really do mean well. Our intentions are good, we are full of motivation and we look upon the year ahead with excitement. But how long does that last? And, more importantly, how much do these resolutions cost us?

On average, New Year’s resolutions could cost more than £1,000 over the course of the year. Just think about Gym Membership, new gym kit, travel to and from workouts, exercise gadgets and, of course, healthy meals… It all quickly adds up.

What’s more scary is that only 10% of resolutions are actually successful and continued throughout the year, according to last year’s YouGov survey.

The Fitness Industry Association found that, rather depressingly, the majority of people who join the gym in January have quit or stopped attending after just 24 weeks.

Here’s the breakdown of average annual costs:

  • One year’s gym membership = £396
  • Annual slimming club fees = £301
  • Smoothie makers and juicers = £164
  • Sports equipment, gym attire and fitness DVDs = £146

However, this is not to say that New Year’s resolutions are a waste of time – it just means we need to be a little more money savvy. And that’s where GH comes in.

We spoke to our money saving experts over at the GHI for advice on how to build up to your goals without breaking the bank.

1. Set aside a resolution budget
Do some research on the best deals in your area – sometimes traveling a bit further may be worth it to save on that gym membership. Set yourself a monthly resolution allowance, like one new item of gym kit or one new superfood ingredient to try.

2. Try free exercise. Yes, free!
Community-based exercise groups are popping up all over the country. For example, parkrun holds free 5k runs on weekend mornings all over the country. Find you nearest event here.

There are also plenty of online programs that can help you get fit for free. The NHS Couch to 5K running program is a great way to monitor your progress.

3. Get the best buy
When it comes to buying those smoothie makers, juicers and other kitchen gadgets, make sure you’re getting the most for your money. Appliances breaking three weeks into your regime are hardly going to up your motivation.

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This post first appeared on The Latest Articles And Blog Posts From The FairFX, please read the originial post: here

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