As summer approaches, many of us begin thinking about the extra weight we’ve put on over the winter, and how that is going to affect us as we wear our summer outfits and think about going to the beach (or at least the pool, for those of us who are land-locked). But losing weight isn’t just about looking good or fitting into those jeans that we could wear 6 months ago. Losing weight can also help you build wealth.
Building confidence and promoting your career
MoneyEnergy points out that there have been studies done linking how you feel about your weight to your personal finances. Here is what M.E. points out about losing weight and better finances:
The basic idea, as I understand it, is probably that (1) those
motivated to lose that much weight will also be motivated to improve
their finances and (2) once you start losing that much weight, there’s
a positive feedback effect, and you’ll feel like doing more to improve
your finances. I would also guess that (3) the overall health and
confidence benefits might also help you get a new job or kickstart a
new direction in your career, contributing to the same rise in overall
I think there is some merit in this train of thought. Confidence can accompany a change in how you perceive your body, leading to new opportunities. And I know that exercise in general helps me feel more energetic and motivated. I am more productive and I earn more money when I have been exercising — even if I haven’t been losing weight.
Healthier lifestyle = lower costs
One of the indirect benefits of living a healthier lifestyle (which may be accomplished, for some people, through a certain amount of weight loss, includes lower costs. Insurance companies have yet to reward you for living better, but you can reduce the number of doctor visits and other expensive treatments if you improve your overall health. Additionally, you reduce the likelihood (although it always remains) of experiencing a financially devastating health problem.
If your shift to a healthier lifestyle includes growing your own food and cooking more meals at home, then you will also see some financial benefits. Your food costs will be lower, and you can put that money toward savings or investing.
Can you think of other financial benefits of living a healthier lifestyle?