During the COVID-19 pandemic, gyms were closed in an effort to curb the spread of COVID-19 so many fitness enthusiasts took to using the Peloton exercise bike.
If you’re not familiar with Peloton, it’s the exercise bike that Mr Big was riding right before he had his fatal heart attack in the Sex and the City revival, And Just Like That, last night.
Peloton’s resident medic Dr Suzanne Seinbaum, said in a statement to US Weekly; “I’m sure SATC fans, like me, are saddened by the news that Mr Big dies of a heart attack. Mr Big lived what many would call an extravagant lifestyle – including cocktails, cigars, and big steaks – and was at serious risk as he had a previous cardiac event in Season six.”
But Really Simple Money has another suggestion for what caused that fatal attack. Perhaps Mr Big just did we we did – and examine his Peloton costs against those of the gym round the corner.
In Australia, the bike alone will cost you $2,295, which equates to $191.25 per month, or if you spread the payments over 12 months it will set you back $44.13 per week. If you take up Peloton’s offer of paying monthly then it’s $59 per month spread over 39 months.
If you subscribe to unlimited virtual classes you’ll pay $59 per month and Peloton offers an app. A subscription to the classes after the 90 day free trial period will cost you $16.99 per month.
If you subscribe to the classes then after a 90 day free trial period the cost is $16.99 per month.
Peloton’s website has a calculator so you can see the financial impact of choosing Peloton over a gym membership. If you pay for a gym membership then you will actually be better off monthly than if you were to choose Peloton. The bike alone will cost you $118 per month whereas if you choose the All Access Membership on top of it you will pay $134 per month.
So how does the cost of Peloton stack up against the cost of a gym membership? A platinum membership with Fitness First starts at $29 per week and gives you access to dozens of their clubs all over Australia, some of which are 24/7.
Anytime Fitness charges a joining fee of $99 plus $79.95 for your 24/7 access card and then $15.95 weekly.
If you sign up for a base membership at Crunch Fitness you will only pay $9.95 per week or $43.12 per month. For access to all clubs and other benefits, the maximum fee is $19.95 a week, or $86.45 per month. There are no joining fees.
There is no fee to join Jetts, just a $21 fee for the access card and then $16.95 weekly or $73.45 monthly.
It costs $159 to join women’s only gym, Fernwood Fitness, and then the weekly fees for an 18-month membership are $26 or $112.67 per month.
City Fitness is the cheapest gym with a sign-up fee of $29 and the lowest weekly fees at $6.99 or $30.29 per month.
That is $28-$91 more per month than a gym membership, so you will actually be worse off financially choosing Peloton.
With gyms open again, you may be able to free up hundreds, if not thousands of dollars in the final weeks before Christmas and some are already taking advantage of the opportunity to make a quick buck.
Home gyms and other fitness equipment
eBay Australia spokesman, Ms. Sophie Onikul said; “During the March 2020 lockdown, gym closures saw Aussies head online to find new ones to stay fit at home. eBay’s fitness category was up 323 percent and people bought four times as much running, yoga, and training equipment as they had the previous March.
“We’ve continued to see similar patterns during lockdown periods and during the recent restrictions in NSW and Victoria, exercise bikes were up 64 percent and outdoor activities like surfing rose by 45 percent.”
The trend continued well into August with an increase in fitness equipment sales coinciding with the Olympics.
“In August, shortly after the Olympics began, sales of skateboards increased by 51 percent and table tennis was a hit with sales bouncing 300 percent,” she added
With restrictions being eased and gyms reopening, eBay has already seen an increase in people selling pre-loved fitness equipment as they return to gyms.
Ms. Onikul notes; “We’re also seeing more demand for these items with the average sale price increasing by 23 percent. If you’ve got unused fitness equipment lying around it’s a great opportunity to make some extra cash to put towards Christmas.
“We expect to see more people list their second-hand fitness equipment as restrictions ease and people become more comfortable with exercising in shared spaces.”