The best way to build a home gym on a budget is to invest in knowledge and not gear. I don't mean an exercise video where you simply parrot someone else's workout - I mean books and seminars where you learn how the most fit people set up their workouts.

Workout equipment has never been the key to getting fit -- the most important elements are hard work, progession, and intelligent programming. STUFF won't make anyone fit. There are a lot of exercise programs, including bodyweight-only workouts, that can get people into Superman/Superwoman levels of fitness.

You don't need ANY equipment to get in shape or get a good workout. Unless you are bodybuilding or training for a specific sport, you can get in fantastic shape with just bodyweight exercises, and you can find a jillion of them on Youtube for free.

Look for videos by Strengthproject, Tacfit, EricWongMMA, bongobear43, and for TRULY low-budget home gym ideas, check out these kids from Eastern Europe...

http://www.youtube.com/watch?v=5dejhPcuB8g

What you need is will and imagination, not fancy equipment designed to make you think you're going to get results without hard work.

Buy used equipment, especially weights. You can typically get weights for ½ to ¼ their cost new.

Get an organic treadmill, aka a dog. Medium or large dogs need about an hour of brisk walking everyday, just like us. They provide lots of affection if they get their walks and behavioral disincentives if they do not get enough exercise. Many different models are available at widely variable prices. Beyond their exercise effects, data show that they lower blood pressure as well.

Spending money on exercise equipment, clothes and a gym at home is a waste of money. Exercise equipment will end up as clutter that you hang your exercise clothes on and you home gym will be used as an extra storage room. The majority of people with good intentions will burn out after January and in February they will be back on the potato chips, the giant burgers, fries and soft drinks. Big is beautiful in the land of plenty excessess.

I bought an elliptical and it has improved my life greatly. We got it used for about 60 dollars- not as nice as the ones at the gym by a long shot but still had good resistance and was big enough that i can go fast without worrying about it toppling over. While I went to the gym regularly before- now i can work out more then once a day- 1/2 hour in the morning and again if we watch any TV. Also, we bought a pull up bar for the doorway in the hall so when I pass through I always do as much of a pull up as possible (before I could do any I would just get as high as I could and hang there for as long as possible), now I can do 2 full pull-ups and I'm hoping to get better.

Lastly, I do lots of sit-ups and push-ups, lunges, and stretching at home. While I don't think all of this replaces the gym for me (it would if I was willing to run outside but it is so cold and icy out there I would rather use a treadmill at the gym), I feel it does make doing regular exercise more convenient and therefor I do it more often.

I'm going to start skipping rope & jogging with my dog. Fun things so it doesn't feel like exercise. This article had some good ideas, I want to get a small trampoline!

http://www.fourgreensteps.com/infozone/lifestyle-health/green-fitness-tips-that-save-time-a-money

I was a little disappointed in their ideas for affordable home-based workout equipment. I've been working out at home for quite a while now, and my current workout requires only a stability ball (OK - they DID mention that one) and a few hand-weights.

Tabata-workouts are high-intensity, so no extra machines are needed for cardio, and can be turned into a comprehensive full-body workout if you plan them right. And they're extremely time-efficient (20 minutes and you'll be ready to drop from exhaustion, knowing that you've had a GOOD workout).

Here's more details, with a few recommended workouts :

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