A New Year often brings the resolve to do better - whether it be with finance, health, emotional well-being, spirituality. The possibilities are endless. If I had to guess, I said the most popular are getting out of debt/reducing debt and losing weight. Yesterday, I shared a tid-bit about saving money this year, so today I thought I would talk about losing weight.
Earlier this year, I learned about Healthy Wage. It was being promoted through our wellness department at work. Essentially, you create a team of 5 individuals committed to losing weight. You pay out money and compete against other teams over the course of several weeks. The team with the highest percentage of weight loss wins a hefty cash prize split among the team. You're literally competing against thousands of other people. There are other details and competitions too - you can check the website for more details.
Today, I heard about Diet Bet. It's a similar concept - the focus is losing weight. Teams are not limited to 5 people. The team organizer specifies the "bet" amount ($10 and up). Unlike Healthy Wage, winners are not limited to five member teams. Essentially, as the team grows the money pot does too. Team members losing 4% of the starting weight will split the pot. Obviously, the larger the team - the larger the bet - the larger the possible rewards. Diet Bet runs for 4 week periods of time - Healthy Wage runs for around 12 weeks (maybe a little longer - again, please refer to websites for specifics).
Anyway, I've been thinking about the two a lot today and I'm considering joining a Diet Bet team or creating a team. I'm always up for extra motivation for a healthier lifestyle. What do you think about the new angle on "dieting" (I prefer "healthy lifestyle").