06/01/2012 02:28 pm ET

Get Out Of A Contract Without Paying A Termination Fee: Tips

Want to cancel your gym membership in favor of outdoor exercise this summer? Beware the cancellation fees. A key part of customer retention strategy, these hefty charges are designed to keep you hooked.

The good news is that if you're smart about it, there are some cheap ways to back out of contracts. Here are some tips to help you get out of service agreements without paying exorbitant early termination fees:

Avoid Hefty Charges For Ending A Service Contract: Tips