Put Your Money Where Your Fat Is!
With the new year in full swing, one of the big goals for me this year was to lose weight and reach my healthy target. I’ve agreed to join my fellow coworkers on a 5k run, but there really wasn’t any motivation in that for me. I started strong – running 3-4 times a week, eating healthy, even cutting out the sodas and increasing my water intake exponentially. But, I’ve started to fizzle. I’m facing the same challenge I face every year that I make this goal…I’m bored with it.
I’m not the only one that’s felt this way. Sometimes, we all need external motivators to get us moving…sorry, but I’m just not blessed with that self-start attitude when it comes to physical fitness. It takes a lot of work for me. Anyway, this year has seen a major increase in diet betting. To put it simply, putting your money where your fat is. Across the nation people are starting office pools that closely resemble “The Biggest Loser.” Each person participating contributes money in the pool and the person with the highest percentage of body fat lost (or pounds, depending on how each office plays the game) wins the pool.
We’re doing this at the credit union. At first I was kind of turned off by the idea. To enter our little competition you have to fork over $50. That’s an awful lot of money, especially if I lose. But, we’ve got 20 people participating, so if I win that’s $1000. The frugal side of me says no. The health-conscious, not-so-frugal side says yes. What’s a girl to do?
I should also mention that I’m going the Nutrisystem route. Last month I spent $650 between eating out and going to the grocery store. Nutrisystem would run me about $300 a month. I figure since one of my biggest challenges with eating healthier is that I never have enough time to cook and do the other things I need to do, this would be a great way to go. Nutrisystem is all pre-packaged, portion controlled food. This will definitely play a part in the time factor, plus it keeps me from stopping for food on the go. That should save me money right there.
In regards to the competition at work, I went for it. I figure paying out the cash will be incentive enough to get me to the gym and continue my running schedule, but adding the Nutrisystem to the mix will help me cut back on my eating out, which will save me money, too. So, on top of being a health benefit, this will totally be a financial benefit as well. Plus, when I win that $1000, I’ve already planned how I’ll spend it.
First of all, $500 is going to a new wardrobe. Balk if you will, but I haven’t bought new clothes in three years…I’m entitled, particularly after working my butt off to win. The rest will be going to my IRA for the year. Many of you may be thinking that I’d be better off putting all of that money into my IRA, but I need an incentive to keep going. Sure, I want to contribute to my IRA, but that’s not nearly as fun as thinking of all the cute outfits I can get with my $500. Besides, after losing the weight, I’ll need clothes that fit.
This competition isn’t going to be easy, though. One girl is already running up and down bleachers. Prior to the competition, she’d already lost 9 pounds. Another is doing the low-carb diet and you can already see results for her, as well. This competition runs through the end of April and I’m already behind the curve. If I’m going to keep my $50 (and everyone else’s), I need to get moving. I’ve put my money where my fat is, now I just need to do something about it.
What do you guys think about diet betting? Is it more motivational? Do you think you’d stick to your weight loss goals for 2009 if you had a financial incentive?
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The issue I have with betting, or working on time frames, is that often the work one does to get the weight off stops once the bet is won/the time frame is up. You push really hard when the external motivation is in place, and then revert back to old habits once it’s gone. At least that’s my own experience. This time, I’ve decided to change my lifestyle, one destructive habit at a time. It may take me way longer to lose the weight, but I am more likely to keep it off. My focus is now on my lifestyle instead of the scale. Even if I never reach my “goal” weight, I can’t help but be much healthier.
Good luck on your bet! I hope you win.
We have a Wii Fit pool at work. The $20 buy in gets me off my butt more often for the next three months (we log our total workout time among other things). Yours sounds much more high stakes. Good luck and remember, your health is always a good investment!
@ PJ – I look at it as an opportunity to get into a specific routine. They say is takes 28 days to make a habit (some say 21, but I’ve heard 28 too). So, I figure with this competition running through the end of April, it gives me plenty of time to establish the habit. The only difference for me will probably be that I don’t continue with Nutrisystem and will learn portion control on my own. We’ll see. But, you make a great point. A lot of people don’t stick with it after the fact.
@ Nicole – Thanks! I’ll need it if I want to come out ahead on this. I just went in for my official weigh in today – ugh! Good luck to you on your pool, as well. I haven’t played the Wii Fit, but I’ve seen people do it. I was never very good with the hula hoop growing up, so I’m not so sure I’d look remotely graceful attempting it now, lol. But, I hope you win your pool as well!
This is actually a cool idea. I understand what PJ is saying, that setting yourself up for a timeframe “deadline” (can) essentially erase the motivation once the time has passed. But for you, since you are investing in the NS meals, and you are planning to work out more, I think it makes sense. This is another little goal you’re giving yourself. And if you’re anything like me, if you see enough results by the final date, you will not care as much even if you lose. You will want to continue to see results (that is, if you have more to lose after the deadline passes).
haha, I think it’s a great idea! def. more motivating, esp. if you’re pretty competitive ;) And much healthier than playing poker for hours straight to earn a little money! good work.
@ breagha – Yeah, I definitely think this idea will give me enough incentive where I’ll feel good, win or lose. But, I still wanna win! ;)
@ J – This may be more motivating, but it certainly isn’t as FUN as playing poker for hours! I wish I had the time to get a little poker in…but, here we plat Hold ‘Em, so I guess that makes hours of it more entertaining. And, it just so happens I am pretty competitive, so I plan to win this thing with my eyes closed.
@ Jonathan – Are you trying to say something with that picture? Hmmm??? LOL. Kidding.