Several years ago I had joined a gym closer to my work because I wanted to get into shape and this was convenient for me. When I joined, I signed the 2-year contract because the salesman convinced me it was the best rate, and should I ever move then I could get out of the contract.
Unfortunately, like most gym memberships, I rarely used mine, and a year later I moved. What’s worse is even after I moved I didn’t allow myself to be bothered with canceling that membership for another 6 months. The money I wasted signing up and then not canceling my membership could have been put towards paying down other debts, $450 worth.
Submitted by: Mick
Lesson Learned:
Laziness or busy-ness are probably our worst excuses for wasting money. Something as simple as a phone-call could have saved a decent chunk of change in this scenario. Perhaps doing a trial run of exercising at home or in the neighborhood before signing a contract with a gym would have helped save all the money in this story.
Be diligent in canceling services you no longer use, or that you could do for free elsewhere. They are very unnecessary, and remind me of my favorite line from “Your Money or Your Life” that read something like…we traded in push mowers and free exercise from mowing our lawn for riding lawnmowers and gym memberships. I don’t have my copy of the book available to me right now, but you get the general idea. We waste so much time and money trying to save time and money.
Amount Flushed Down the Money Drain: $450
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