Betting on Myself With A Drastic HealthyWager

I’ve done something drastic. I bet $450 that I’ll lose 40 lbs. in six months using HealthyWage.

To put that in perspective, I’m spending actual money (that I can’t really spare) while committing to achieving a lofty goal that I have been trying and failing to achieve for years. And I’ve committed to achieving it in a mere six months. I haven’t even lost ten pounds combined over the past two years.

Am I crazy?

Or am I finally ready? I think I’m emboldened. Quitting smoking (171 days of today!) in 2016 after YEARS of trying and failing has given me confidence that I can, in fact, do hard things. My year of cognitive behavioral therapy gave me the tools I’ve been lacking, and taught me how to use them. At the start of this year it was incredibly clear that practice was over. It was game time. And I’ve been playing my heart out since.

Okay and maybe I’m a little crazy, too. Not to mention excited by the prospect of making money off my own success. That’s right, there’s more than just my $450 on the line.

Using HealthyWage

In late December I stumbled upon HealthyWage, a site & app where you bet on your own weight loss (I am in no way affiliated with them nor are they sponsoring this post). I’ve tried apps like GymPact in the past to incentivize me to work out more by placing cold hard money on the line. When I lost my Fitbit back in July I stopped. HealthyWage is similar but different. You specify the amount of weight you want to lose, how much time you want to do it in, and how much money you’re willing to put on the line. HealthyWage collects some other information (like your current weight and height) and calculates how challenging it thinks your goal is and spits out a prize amount which is funded by other members who failed to meet their goal.

Apparently, they must think my goal is a bit of a stretch. If I don’t make my goal, I’m out $450. If I do, though, I walk away with $1,308.29. That’s a gain of $858.29 on my initial investment of $450 (I will be charged $75 monthly for the duration of the 6 month challenge). Not bad!

I’m all about finding motivators, carrots and being challenged in measurable and competitive ways. I’m looking at this as an opportunity to combine two of my goals: financial independence and weight loss. That $1,308.29 would make a nice little dent in my student loan (who am I kidding, my student loan would barely even acknowledge that.) But I digress. If I can make $858.29 losing weight, then sign me up! I am quite literally making an investment in myself. I’m putting my money on ME.

So I signed up. And I’m super excited! With Mike’s help, I verified my starting weight. To do so you submit a quick video filmed in a mirror or by someone else where you weigh yourself and spin around slowly so they see you don’t have a bag of rocks on your back or anything. There’s guidelines on what you’re allowed to wear (short sleeves, nothing longer than the knee) and how to film it. It was super easy.

If this sounds like something you’d like to try for yourself, then please use this referral link when you sign up and $40 will be added to each of our prize pots. Sweeten the deal for us, would ya?

The pot is bigger the higher the stakes. I can hardly believe I committed to losing 40 lbs in 6 months! I have never achieved a goal like this EVER. But that’s roughly 7 lbs a month, which I know from experience is doable. I’ve just never been able to do it consecutively. With $1,308.29 on the line, I know I have to try my damnedest.

This is yet another carrot in a long road in which I have planted many carrots. With this one, I’m trying out the power of financial incentives. I’m energized by the prospect of making $858 while doing something I desperately want to achieve anyway.

There’s side group challenges, too! For example, I also joined a three month challenge for a $60 total investment to lose an average of 6% of my weight by the end of March. In order to be on track to meet the main challenge of 40 lbs in six months I need to be closer to 9% by the end of March anyway, so I figured… why not? (All the winners who achieve the 6% will split the prize money).

I’m loving HealthyWage. Hopefully I still am in six months. If you see a donation button appear on this site, you can safely assume I’m out $450. (I kid.)

Again, please use this referral link if you want to give it a shot. Remember, you pick all the terms. A conservative bet will still get you some extra money. It’s all up to you to determine the stakes. Good luck!

As for me, I’ll be sure to keep you all posted on my progress.