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Exercise

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Peloton recently announced that you could now finance the purchase of a new Peloton bike.  Is it a good deal? Here are my thoughts:

Buy Without Financing:  As detailed in my earlier  Peloton App blog purchasing a Peloton bike without financing costs about $3,000 when you add in delivery, $468 class subscription fees for the first year ($39 per month), $125 for clip-in shoes, exercise mat, etc.  Way outside of my budget.

0% APR Financing:  While a 0% down APR sounds like a great detail, the devil is in the details.  For qualified buyers, Peloton allows  you to make 39 monthly payments of $58 for the bike.  This does not include the Peloton classes.  In addition to the cost of the bike, shoes, etc. to qualify for the 0% financing you need to commit to a 39-month class subscription of $39/mo. totaling $1,521.   By my math the grand total over the 39-month period will be almost a $4,053 commitment when you add all the extras.

WARNING: What you are about to see is a budget friendly home gym that will not look anything like you have pinned on Pinterest.  You have been warned…

Last year we converted an unfinished area of our basement into our own mini-exercise room.  We put up one wall, installed a couple of doors, a dropped ceiling with recessed lights, a TV and interlocking rubber floor mats.  We painted the cement walls bright yellow and bingo – a home gym.  The only thing left is mirrors.  Here is a step-by-step (budget conscience) guide to how we did it.

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