In my series of articles on frugal hobbies, I break down an individual hobby for people who want to have fun without breaking the bank. The overview will include the details of the hobby itself, how to go into it with a frugal mindset, and the best ways to make use of your money. Not all of the hobbies covered are cheap or easy to get into, but I find ways to help you save money while still being able to partake in your favorite pastimes.
Exercising
If you’re older, hopefully you already laid the groundwork for your health in your youth, so that it’s easier to stay healthier as you approach old age. Exercising and eating healthy with budget-friendly meals is a must if you want to live a long, healthy life. Even if you slacked off previously, it’s still a good idea to take your health seriously now. If you have always been on top of it, then keep at it! Your future self will thank you, and it can give you the energy you need to stay engaged in all aspects of your life. For those who are young and just starting out – there is no better time than the present to get the ball rolling!
Walking
Let’s get this out of the way – hiking and walking are not quite the same. All hikes are walks, but not all walks are hikes. Make sense? So, for the purposes of this article, let’s just say “walking” is your casual 10-40 minute stroll through the neighborhood or park. It’s light exercise, easy to do, and even easier to fit into your schedule. It may not sound incredibly beneficial, yet it is. Walking daily can help you stay in decent shape and it can help you clear your mind. For those moments where you’re having a hard time figuring out a problem, a walk is the perfect way to relax, brainstorm, and figure out the issue at hand.
Short, Frequent Walks Are Completely Free
Walks through the neighborhood or a nearby park are perfect as a frugal pastime. It’s free, after all. Walks are a good way to use your time, and it’s an easier alternative to hiking if you find that to be a bit too much to handle.
Hiking
Hiking is a bit of a level higher than walking. For the purposes of this article, we’ll call hiking any long walk. So, let’s say anything that is at least an hour long, but it could be an all day event! This has all the same mental and physical benefits as walking, but kicked up a notch. Need to clear your head? A long hike may serve you better than a short walk. If you want to get in better shape, mixing hikes into your schedule can help a lot.
Do Bodyweight Exercises
If you don’t want to go the gym and are on a tight budget – you can always get started with some bodyweight exercises. Most are fairly simple so beginners can start with them, but they’re usually something you can ramp up over time too. There are absolutely no excuses for not working out!
Create A Home Gym
If you’re willing to spend $600-1200, then you’ll be able to afford a home gym. That sounds like a lot of money, but it pays for itself pretty quickly if you consider how much gym memberships cost these days.
The Basic Equipment
For most people, it should be safe to say that you’ll be spending significantly less than $1,200 on a solid home gym even with current equipment costs. After all, a home gym doesn’t require a ton of equipment – just the core essentials (which should cover most workout routines).
The main things you will need are:
- A barbell (ideally an Olympic barbell)
- A squat rack, preferably with a pull-up bar
- A bench
- Enough plates to push your limits and continually increase the weight
- A jump rope (or other miscellaneous items you may want)
Now, building a home gym on a budget may mean you need to find sales and cut corners when possible, but don’t forget to prioritize safety above all else.
Olympic Barbells
This will likely be your core piece of equipment that you’ll use for most of your exercises. It’s also one of the main things you don’t want to be cheap about. Cheap barbells tend to have low weight limits and are prone to breaking. So, to avoid that make sure you do your research and get a high quality barbell.
I’m not affiliated with either brand, but Rogue Fitness has some great all-rounder options, but if you’re looking for a cheaper option Rep Fitness also has some good barbells. I am an affiliate of Amazon, and I was surprised to find that they do have good deals on some barbells. However, for the widest selection you’ll need to use a vendor’s site. A good barbell will likely cost you $200-300.
Squat Racks
A squat rack is just as important as a barbell, especially since it’s main function it to help you stay safe and prevent injuries. Fortunately, there are a lot of good deals on squat racks like this one on amazon. A solid budget squat rack with a pull-up bar will probably cost you another $250-300. If you want one with more bells and whistles it could cost a lot more. Again, this one from Amazon has a good price, and it has a good weight capacity of 800 pounds – more than enough for most lifters. On top of that, the assembly is fairly easy for a project like this.
Plates
Obviously, since you have a barbell you’ll also need some plates for it. There are tons of different types of materials you can use for weight plates, but iron Olympic plates are the best bet for most people. If you want new, individual plates then CAP usually has the best mixture of quality and price. However, in recent years the price of plates has almost doubled, so your best bet might be to get some used from Ebay, yard sales, or some other storefront.
Depending on what you exercises you want to do, you may also need to get some bumper plates. The plates are much more expensive so, if you decide you want them, try to only get what you absolutely need for those exercises and use other types of plates for everything else.
If you’re determined to get a set of new plates for cheap, try to get a complete set from a store like Dick’s Sporting Goods. Again, I’m not an affiliate, but they (and a few other stores) have a couple of sets that are about as cheap as you can get – sometimes they come with a free barbell (be careful though, as sometimes those barbells have low weight capacities). All-in-all, how much you spend on plates will vary wildly, based on how experienced you already are. Let’s assume you’ll spend $200-400 on plates, if you’re buying new.
A Bench
The best solution for this one is to keep it simple. There are three things you’ll need to know when you get a bench:
1. Flat benches are usually the cheapest.
2. You need to make sure the bench is the right width and height so that you can do exercises properly. 10-12 inches is the most common width, and 17-18 inches is the standard height.
3. Make sure the weight capacity of the bench is enough to support you AND your barbell (and plates).
A good option is something like this. It’s not the best bench, but it is only $60, has a solid width and height, and a maximum weight of 600 pounds (which is more than enough for most people). It also goes on sale, which makes it even cheaper. All-in-all it’s one of the best budget picks currently on the market.
Jump Rope And Other Items
Last, but not least, you need to get any other exercise equipment you may need. For example, you can get a jump rope for $5-20 if you want to do some cardio. Additionally, if your barbell or plates didn’t come with a clamp, you can get one from Amazon for about $10. That, coupled with everything else, will nicely round out your home gym setup. Of course, you might need nothing from this category.
Let’s Do The Math
Now, let’s estimate how much a home gym will cost, and how long it will take for yourself. Assuming you got the items I recommended or got something even higher quality, your total cost will be about $1080. That’s not bad for a home gym, especially since it is basically assuming you got top of the line equipment and didn’t get anything second-hand (which would reduce the total to something potentially much more manageable like $700-800). But, for argument’s sake let’s go with the higher number of $1080.
Gym memberships can vary wildly, but most sources I found say that the average one costs about $58 per month. Assuming that, and the higher figure for the home gym cost, your home gym will pay for itself in just under 19 months. In other words, the home gym makes up for itself after about a year and a half – while also being for more convenient than gyms. That’s hard to beat in my book!
Your Diet Is The Most Important Part
As I said earlier, your diet is important too. If you exercise all the time, but don’t eat healthy food, then you’ll probably have a hard time seeing the progress you’re hoping for. Do yourself a favor and make sure you eat a healthy diet and exercise regularly!
Conclusion
Remember, your mental and physical health are just as important as your financial health. Sometimes it can be easy to forget your priorities, especially in the chaos of modern life. Besides, certain workout routines can be loads of fun. If you have any other tips for exercising on a budget, let us know in the comments!
For more content like this, and a free budgeting template and financial goals worksheet, be sure to sign up for the Bitter to Richer newsletter.
