Jumping in here as someone with almost 20 years in the fitness industry (mostly as a collegiate strength coach, now running a sports performance/fitness center.
Lots of great info on here, in fact nothing that I have any objections to, which is more than I can say in any fitness site's forum that I have read/commented on in the past.
I believe that hiring even a $200/hr personal trainer is worth it, IF it is the only path to improvement. IMO all this saving is worthless without the health to reap the benefits from. The question that you need to ask yourself is what do you need to get you where you want to be? The cost worth every penny if it gets the results you want.
If you are a complete beginner, and/or want someone to talk with during your sessions, maybe a personal trainer is the way to go. Want to be with a big group and enjoy the social/competitive aspect of working out? Maybe group classes is best. Just need a little direction and want to be held accountable? Maybe Lagom's situation of a higher monthly membership but with coaching (personally my belief of the most value and the way I run things at my gym) is the way to go. Totally self sufficient? You can either rent the equipment (which is what you are doing with any typical gym membership) or buy it for a home gym.
As mentioned in other posts, as with a lot of other services, when choosing where your fitness spending is going, be slow to hire and quick to fire. Some red flags to look out for in my opinion:
-Any trainer that talks about how great they are/what they offer UNLESS it is related to how it's going to help you (YOU are the customer, almost everything should be about YOU)
-Any trainer that promises quick results. I know it sucks, but fitness is a process. It takes dedication and commitment. To use fat loss as an example, losing ten pounds in a month for anyone other than extremely obese individuals is not only unlikely, it is dangerous.
-Any initiation/cancellation fee. A gym that has these are more interested in making money than serving their customers
-Any long term contracts initiated by them. Year long contracts that get you a better deal (after the gym has been tried out for a few months) is ok, as long as it is your decision.
There are more fitness options than even I know about (and it's my job to know about them). The key is to find what consistently gets you closer to your goals.