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Should You Prioritize Fitness Spending?

Should You Prioritize Fitness Spending?

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Typically, financial experts recommend dedicating no more than 30% of your income to rent and setting aside 20% for savings. But what about budgeting for fitness and health?

For both Gen Z and Millennials, prioritizing fitness and health has become a financial necessity.

Maintaining fitness and regularly attending the gym has seamlessly integrated into the daily routines of health-conscious individuals in their 20s and 30s.

According to McKinsey & Company's Future of Wellness survey, conducted this year with over 5,000 consumers from the United Kingdom, the United States, and China, younger generations are investing in wellness products and health services more than their predecessors.

Taylor Price, a 23-year-old self-proclaimed "financial activist" with 1.1 million TikTok followers, suggests allocating between 5% and 10% of your income to health and fitness.

This approach ensures that you don't compromise on essential financial needs.

For Gen Z, spending a notable portion of their income on fitness and well-being is crucial because they view physical health as intertwined with mental health.

Price emphasized that the influx of aesthetically curated fitness content on social media is significantly influencing Gen Z and Millennial spending habits.

Financing Fitness Goals

Health—both mental and physical—remains a top concern for this generation. One in three people actively use health and wellness apps on their phones.

Expenditures on athleisure, gym memberships, and supplements are seen as investments yielding long-term benefits for the mind, body, and soul.

In Pakistan, changing attitudes towards gyms can be attributed to increasing urbanization and lifestyle changes among the middle and upper classes.

Once exclusive to bodybuilders and male athletes, gyms are now popular among men and women alike.

Pakistani society, traditionally linked to cultural roots and a generally sedentary lifestyle, is experiencing a shift towards valuing fitness as part of daily routines.

This growing focus on health is evident in the rising number of gyms and fitness centers across the country.

With increased awareness of physical fitness, the financial commitment to it has also grown.

However, prioritizing fitness financially remains a luxury not everyone can afford.

Long-term fitness commitments come with significant costs, such as renewing gym memberships, following specific diets, and keeping up with the latest athleisure trends in a consumer-driven society.

Despite limited means, many continue to prioritize these expenses, believing that this investment will enhance their overall quality of life.

Fitness is now seen as more than just physical benefits; it also serves as a means to relieve anxiety and stress.

It's a way to boost confidence and self-worth, positively impacting all aspects of life.

Driven by the belief that a healthier, more confident self can lead to better opportunities and richer experiences, individuals continue to invest in fitness.

Health Beyond the Gym

Many of us have been conditioned to think that achieving a healthy, balanced, and peaceful lifestyle requires high costs, such as expensive gym memberships.

However, not every girl needs to be a "pilates princess," nor does every guy need to be a "gym bro" who subjects himself to harmful diet culture to feel part of the health and wellness movement.

Nature offers numerous options for exercise and wellness—parks, beaches, walking trails, and other outdoor spaces where one can find peace and quiet are accessible to everyone.

These spots are usually free and serve as excellent venues for meditation and workouts.

For those uncomfortable working out in public spaces, home workouts are a great alternative.

Exercises like high-intensity weightlifting, cardio, Pilates, and yoga can all be done from the comfort of your home.

Accessing fitness spaces and the associated lifestyle comes with its own barriers, such as high gym fees, expensive workout gear, and societal pressures to look a certain way.

These barriers should not exist, which is why young people today feel the need to allocate a portion of their income to fitness.

At its core, working out is simple—walking, jogging, and basic bodyweight exercises are entirely free.

Ultimately, fitness, health, and wellness can be accessible to everyone, regardless of their financial situation.

 

Source: msn

The opinions shared in the GymNation blog articles are solely those of the respective authors and may not represent the perspectives of GymNation or any member of the GymNation team.