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Worth the weights? Why your New Year's gym membership may be harder to quit than you know (and what to do about it)
Yahoo Finance· 2026-01-06 13:00
Group 1 - A significant portion of the population, 48%, sets fitness goals at the beginning of the year, leading to a spike in gym memberships in January [1] - Gyms typically sign up 12% of their new members during the New Year period, often offering promotions to attract new customers [5] - Despite initial enthusiasm, nearly 50% of new gym members attempt to cancel their memberships within six months, facing challenges due to inconvenient cancellation policies [5] Group 2 - Americans collectively spend $397 million annually on unused gym memberships, highlighting the financial impact of these memberships [3] - Many gyms impose difficult cancellation processes, which may include in-person cancellations, specific time windows, or hefty fees [5] - The Federal Trade Commission's attempt to implement a 'click-to-cancel' rule for easier membership cancellations was struck down by a federal court, leaving gyms with the freedom to maintain inconvenient policies [2][6]