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A recent report by the charities commission found that a quarter of charities have experienced a drop in donations due to the recent economic downturn which is to be expected as people tighten their purse strings across the board and unfortunately charity donations are an easy target for people looking to make quick and easy cut backs.
But there are other ways to donate other than financial.
When I wrote my last quarterly review of my finances the FTSE100 stood at close to 5000 points, little did I know within a matter of weeks it would drop by 24% as the world came to terms with a global recession. But closer to home, how did my own finances fare during this period of economic turmoil?
As we enter the new year millions of people will be making their new years resolutions and for many top of the list will be to lose weight, get fit and atone for the excesses of the festive season. This explains why January is the busiest time of year for Gyms up and down the country, with over 3.5 million people signing up in the first two weeks of January according to research by Sainsburys Bank.
As I wrote at the start of last year, typically many people have a blitz in the first fortnight, attend once a week in February, and by Easter are rarely making an appearance on the treadmill. Meanwhile, the direct debits continue to be paid and with the average gym membership costing £372 it will be peoples pocket rather than their physique that will be shedding the pounds.
So this year I am going against the crowd and giving up the gym for my new years resolution. Well actually not quite, when I told Fitness First that I wanted to cancel my gym membership they offered to reduce my monthly fee to £7.95 for 3 months which is a substantial saving on the £31.25 I currently pay.
I might still give the gym up altogether come April when the weather is nicer and I can get out on my bike, but for now I’ll keep dragging myself and the extra pounds to the gym. To be precise I’m £69.90 better off over the 3 months.
£69.90
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