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Working Out On a Budget

Working Out On a Budget
Working Out On a Budget

Being on a tight budget, or removed from the gym, does not have to keep you from a healthy, active lifestyle. Working out on a budget will require creativity and focus.  It is possible to have stay fit while reducing costs.

Today, we welcome Kat, who is willing to share some tips for working out on a budget. She is a self-employed pilates instructor who shares topics on health, fitness, and finance.  She recently started an enlightening blog, AChatWithKat.com, that provides FREE resources on exercises and the anatomy.  Check it out!

I hope you find her guest post to be informative, interesting, and educational. Enjoy!

Introduction

Pilates, HIIT, Boxfit or Zumba? When it comes to workouts, you’re spoiled for choice. And the range is constantly increasing: since the Coronavirus crisis, a lot of gyms have moved their offers online

Top Tips for Low-Cost Workouts

So, how can you do an effective workout without breaking the bank?

The most effective exercise routine includes cardio, some weight or resistance training and some stretching. Overloading your muscles through weight training not only helps them to grow stronger and become more effective at burning calories, but it also has many secondary health benefits such as increasing bone density and heart health. One cost-effective way to work out is to buy a set of weights and combine the weight training with some running or swimming. Instead of the ongoing cost of the gym, you have a one-off expense. High quality weights can last for decades, so they are worth the cost.

However, if you have limited space at home or move around a lot, you can do bodyweight exercises instead. If done well, they have a similar effect as workouts involving weights. Here are my favourite types of free bodyweight workouts:

1.  The 5BX or XBX

This is a workout designed for the Royal Canadian Air Force. It contains five basic cardio, strength and stretching exercises that get harder as you progress through the levels. The 5BX is for men and the XBX for women and they can both be completed in a very small space in under 15 minutes. This is a great way to keep a base level of fitness with little effort.

2.  Youtube Workouts

There’s no shortage of workouts available on Youtube. If you’re new to exercising or have trouble getting motivated, consider starting with 10-minute segments. It is much less daunting to start exercising if you know it will be over in 10 minutes. For more experienced people, Pamela Reid offers a wide range of challenging workouts on Youtube.

3.  Free Outdoor Exercise

In most bigger towns, there is at least one free or cheap outdoor exercise group. This could be as simple as a running or hiking group or as organised as London’s Our Parks system, a community of trainers offering free sessions in countless London parks.

Motivating Yourself Without a Trainer

A personal trainer does more than just select appropriate exercises: he or she helps the client to stay on track and motivated over the long term and it can be hard to achieve this on your own. Let’s explore some strategies we can use to stay motivated when working out independently.

Firstly, make sure you know what type of person you are. If you are good at motivating yourself, you could draw up an exercise plan and tick off each workout when it’s done. However, if you need accountability to stick to your goals, speak to your friends about your goal and tell them to ask you about it in a month’s time. For an even stronger motivator, use the power of shame. Tell your friends:

“If I don’t stick to my routine, I must (insert something embarrassing here).”

For example, I would choose ‘sing at a Karaoke bar’, since that is something I really do not want to do. The thought of having to sing in front of strangers would definitely scare me into working out.

For a more positive approach, you could work out with a group. As mentioned, there are many free outdoor exercise communities available. You can find them through your local notice boards, a Google search or the Meetup app. As an added bonus, such an exercise group is a great place to meet new, like-minded people who are as focused on their goals as you are on yours. And if there’s nothing suitable, why not start your own group?

When to Pay for a Workout

So should everyone do free exercise, all the time?

Of course not! I am a Pilates teacher for a reason, after all. There are instances when a paid class or a gym membership is worth it. Here are examples of people who could benefit from classes or gyms, and some ways for them to keep their costs low and motivation high.

The injured person:  If you have a severe injury or condition, exercising on your own might not be safe. Many of my clients fall into this category. Consider doing private lessons for a while and then transitioning to small group training. You could also ask your trainer to make up a homework routine for you, so that you can exercise for free in between sessions.

1.  The Savvy Saver

If you are already saving 50%+ of your salary or if you are financially independent, you could consider adding some variety to your workout routine by attending a gym or a class. Personally, I joined a budget fitness centre that opened up near my home because I live in a studio apartment and enjoy having a dedicated place to exercise. With a savings rate of 60+%, this doesn’t break the bank for me and if my income or savings rate drops, this is an easy thing to cut out.

2.  The Elderly Beginner

This is another typical Pilates client. 65+ clients who are not used to regular exercise often need some guidance at first. A group class targeted at their demographic could be a nice way of easing into exercise. Many people in this age group also belong to the ‘savvy savers’, so paying for classes won’t harm their finances. If you are an elderly beginner with fewer financial resources, you could look for free outdoor exercise sessions near you.

3. The Pro

If you’re a very experienced athlete or want to do a specialised type of exercise like dance, you’ll need expert coaching at some point. Once you’ve exhausted all the free resources in your community, you have no other option than joining a class. Before you start, research all options in your local area to choose an instructor who’s both qualified and offers good value for money. You could also offer to coach younger students or beginners or do other tasks in the training centre in exchange for a reduced rate or even free classes. When I was dancing in university, I taught at my local studio and the wages covered all of my training costs.

Do you have more tips about exercising for free? What are your favourite tricks and tools to keep your fitness routine affordable?

More about the writer:

Kat with AChatWithKat.com
Kat with AChatWithKat.com

Kat provides biweekly posts on topics such as health, anatomy, finance, self-employment and even philosophy. She loves meeting new people and learning with others. Please take the time to visit the informative website AChatWithKat.com and subscribe to her weekly updates.

Stocks on Sale!? 3 Cheap Dividend Stocks

"The basic story remains simple and never-ending. Stocks aren't lottery tickets. There's a company attached to every share." - Peter Lynch
"The basic story remains simple and never-ending. Stocks aren't lottery tickets. There's a company attached to every share." - Peter Lynch

As the world essentially stopped these last few months, many of us finally had the time to do things that we had always wanted to do, learn new things that had always interested us, and focus on new hobbies that were always on our to-do list, but never able to come to light. One of the unexpected, but great things that I have come to encounter during this time period is the network of new friends that could come out of this pandemic. Some of the most valuable friendships that I have come from those who know things that I do not, and who can teach me to be a better self.

As I launched this blog, I was able to do just that. I met a new friend (and fellow Engineer), who is an expert in areas of finance that I consider to be foreign to me, but that I want to learn. I am fortunate enough that this new friend has agreed to right a guest blog post on the website. Derek is knowledgable, well-spoken, and skilled at picking dividend stocks (the subject that I really want to learn more about). So let me formally introduce him! Derek, a Financial Independence blogger and author of EngineerMyFreedom.com, invests in dividend stocks as mentioned above. I hope you find his guest post below to be enlightening, interesting, and educational. Enjoy!

Intro

Investing in the stock market sure has provided a bumpy ride so far this year. The COVID-19 pandemic has upset the applecart, so to speak, and many stock investors are selling their shares and fleeing the market.  This has given rise to depressed stock prices and a major increase in market volatility, mostly due to concerns and fear about the future. Wise investing sages tell us that it is precisely at times like this that one should be on the lookout for great investment opportunities in the stock market. Seesawing stock prices enable the savvy investor to purchase strong, well-run companies at bargain prices. In particular, the value and dividend investor can make some excellent buys of stocks on sale during these tumultuous times.

Having a list of high-quality companies that one would buy at a discount is the first step in my process.  My current hot-watch list has three dividend-contender stocks, which are highlighted below.  These are quality name companies with a long history of paying a generous portion of their profits back to investors as quarterly dividend returns. I believe they are now available at bargain prices.

3 Great Dividend Stocks on Sale

Stock Pick #1 - Comerica (CMA):

The COVID pandemic has hit many banks and financial service firms particularly hard. CMA, founded in 1849 and headquartered in Dallas, Texas, is no exception. It’s share price near its yearly low. With the light beginning to appear at the end of the COVID tunnel, analyst firms are beginning to notice CMA and some are raising their views on its future performance. In late April, the chart of CMA daily prices printed a bullish “triple bottom.” At current prices, CMA pays out a yield of over 9%. It goes ex-dividend on July 15, paying an expected 68 cents per share to its investors.

Stock Pick #2 - Iron Mountain (IRM):

Founded in 1951, IRM is the global leader in storage and information management services, and provides its goods and services to over 225,000 firms and other organizations around the globe. It has increased its quarterly payments to shareholders each of the last 10 years. It is currently hovering near its 52-week low and pays a generous 11% yield at current depressed prices. The ex-dividend date of June 12 is expected to pay out 62 cents per share to its stockholders.

Stock Pick #3 - Simon Property Group (SPG):

The pandemic has not been good for retailers and real-estate firms. Not surprisingly, with the COVID lockdown, people are not shopping or dining out. Since February, Real Estate Investment Trusts (REITs) have been skewered across the board. SPG is the owner of premier properties in the shopping, dining and mixed-use space and conducts business in North America, Europe and Asia. Its properties generate billions in annual sales. This highly rated issue currently sports an amazing 16% yield at current low prices. SPG appears to be in a much stronger financial situation relative to some of its chief competitors, Kimco Realty (KIM) and Macerich (MAC). It is a favorite holding of many exchange-traded funds (ETFs), including Schwab U.S. REIT ETF and the Real Estate Select Sector SPDR Fund.

What a deal!
What a deal!

Effective Ways To Time Your Buying

Buying solid dividend-paying stocks such as these could enable the intrepid investor to generate a reliable income stream during times of heightened market volatility. This income could be spent, or better yet, reinvested in additional shares of quality companies available at a price discount. Over time, by reinvesting returns, an investor's regular income stream and net worth should grow. Here are two techniques I use to help me judge if I am buying these issues at an excellent price:

  • Technique #1:  I wait for a down day in the market. Buy the shares on a down day and when the stock is at or near the low for the day. The issues you are after are already discounted relative to their 52-week high. This puts discipline in my buying and helps ensure that I am obtaining a nice price for my stock.
  • Technique #2: I consider selling puts to obtain stock. This is a somewhat sophisticated way to obtain stock. In essence, the put seller earns a premium to take on the obligation to purchase shares at a certain price. The savvy put seller wants to get his or her shares at an even lower price than is currently available and is paid to do so. This technique may be the subject of a future blog post.

In Conclusion: This Is A Great Time To Find Quality Stock Investments

All market downturns in the past have been followed by higher prices later. It is during the fog of uncertainty that develops in market drops that shrewd, long-term investors upgrade their portfolios. We appear to be in one of those times now when quality, well-run firms are presenting themselves on the bargain table.

What other stocks are on sale right now?

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