Cash-Strapped Brits Plan to Ditch the Gym in 2012
CHESTER, England, December 29, 2011 /PRNewswire/ --
- Two thirds of Brits believe the gym is an unnecessary cost
- Opting for a healthier lifestyle such as quitting smoking could help to reduce the cost of life and critical illness cover
Hitting the treadmill to work off the festive pounds traditionally tops the New Year resolutions list, but according to research by moneysupermarket.com Brits are shunning the gym this year.[1]
Research by Britain's number one comparison site found over two thirds of consumers (68 per cent) won't be joining or renewing their membership as they believe the gym is an unnecessary cost, and they keep fit and healthy in other ways. This is compared to 46 per cent of respondents in 2009.[2] One in ten Brits (12 per cent) are concerned about the cost implications with five per cent not planning to renew their membership as they rarely used it this year and need to cut costs. A further six per cent are unsure about signing up due to the current economic climate and needing to rethink their spending.
The research also found the younger generation favour the gym with almost one in five (18 per cent) of 18-34 year olds stating they already regularly exercise and plan to renew their membership in the new year compared to just six per cent of those aged over 55. Instead an overwhelming 81 per cent of this age group stated the gym is a waste of money and find alternative ways to keep fit and healthy rather than signing up to a fitness club.
James Clarke, Head of Protection at MoneySupermarket.com said: "Despite the indulgence of Christmas it seems gym membership is not high on the priority list for a New Year health kick as Brits look to cut costs. Joining a gym can be a huge financial commitment, and with many gym-goers admitting to rarely using their membership, it's important to consider whether their hard earned cash can be used more effectively."
Quitting smoking is also another resolution many vow to take as part of leading a healthier lifestyle. A recent poll run of MoneySupermarket site users found over 13 per cent of respondents successfully quit last year, and a further five per cent have vowed to kick the habit in 2012.[3]
James Clarke continued: "For those exercise fanatics who commit to the gym and work out on a regular basis it is worth knowing there are life insurance and critical illness policies that reward a healthy lifestyle. The same also applies for smokers who quit the habit, as there is a huge price difference between policies for smokers and non-smokers. Brits could see average savings of £4,347 over the term of the policy - a significant sum of money!"[4]
Notes to Editors:
[1]Opinium Research carried out an online poll of 2,013 UK adults from 21st - 24th October 2011. Results have been weighted to nationally representative criteria.
[2]2009 research:
Will you be joining, or renewing, a gym membership in the New Year?
- Yes - I've never been a member before but am considering it for 2010 (5%)
- Yes - I'm already a member of a gym and use it regularly so I will be renewing my membership (29%)
- Maybe - but the current economic climate is making me rethink my spending (5.7%)
- No - I had gym membership this year but rarely went and need to cut costs (10.1%)
- No - I don't want to cancel my gym membership but will have to as I can no longer afford it (4.5%)
- No - I keep fit and healthy in other ways and it is an unnecessary cost (45.6%)
The poll of 662 site visitors was conducted on the moneysupermarket.com forum - voting ended 18 December 2009.
[3]Thinking about the New Year's Resolutions you made this year, did you decide to quit smoking?
- Yes - I quit and haven't started again (13.6%)
- Yes - I managed to quit but have since started smoking again (7.6%)
- No - but I'm going to make that resolution this year (5.5%)
- No - I don't want to quit (6.7%)
- Not applicable - I don't smoke (66.5%)
Total Votes: 2113
Voting Ended: 18/12/2011
[4]Life and Critical Illness Cover:
Top five table based on a 30-year-old male wanting £100,000 over 25 years for single life or earlier critical illness cover:
Saving
Total Total per Saving
Monthly premium Monthly premium month by for term
premium over 25 premium over 25 not by not
Provider smoker years non-smoker years smoking smoking
Legal & General GBP37.31 GBP11,193 GBP23.15 GBP6,945 GBP14.16 GBP4,248
Ageas Protect GBP36.01 GBP10,803 GBP22.50 GBP6,750 GBP13.51 GBP4,053
AEGON Scottish Equitable GBP39.97 GBP11,991 GBP24.19 GBP7,257 GBP15.78 GBP4,734
Aviva GBP37.10 GBP11,130 GBP23.60 GBP7,080 GBP13.50 GBP4,050
Scottish Provident GBP39.67 GBP11,901 GBP24.17 GBP7,251 GBP15.50 GBP4,650
Sourced by http://www.moneysupermarket.com 06.12.2011
Top five table based on a 30-year-old female wanting £100,000 over 25 years for single life or earlier critical illness cover:
Saving
Total Total per Saving
Monthly premium Monthly premium month for term
premium over 25 premium over 25 by not by not
Provider smoker years non-smoker years smoking smoking
Legal & General GBP30.47 GBP9,141 GBP24.73 GBP7,419 GBP5.74 GBP1,722
Ageas Protect GBP29.33 GBP8,799 GBP22.78 GBP6,834 GBP6.55 GBP1,965
AEGON Scottish
Equitable GBP32.16 GBP9,648 GBP24.80 GBP7,440 GBP7.36 GBP2,208
Aviva GBP30.40 GBP9,120 GBP23.50 GBP7,050 GBP6.90 GBP2,070
Scottish
Provident GBP32.40 GBP9,720 GBP24.59 GBP7,377 GBP7.81 GBP2,343
Sourced by http://www.moneysupermarket.com 06.12.2011
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SOURCE MoneySupermarket.com
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