Getting fit sounds like a money-losing proposition -- after all, gym memberships, exercise equipment, diet books and healthy foods all cost bucks. But you may be surprised to learn that you can actually save money by living a healthy lifestyle. Read on to find out how you can boost your bottom line -- both physically and monetarily.
#1 Cheap Eats
Eat less, pay less. If you cut out pricey snacks like ice cream and cookies, your waistline will get thinner as your wallet gets fatter. Bring cheap, low-cal snacks to the movies, and you'll save more, since most movie theaters offer giant-sized buckets of popcorn at giant-sized prices. The same goes for restaurant food. "You can save money and be healthier by keeping restaurant portions in check," says Ellie Krieger, MS, RD, author of Small Changes, Big Results (Clarkson Potter, 2005). "Get two meals for the price of one by splitting an entree with a friend or taking half home. And always order the smallest size available — you'll eat less, and that helps reduce both your waistline and your expenditures."
#2 Don't Guzzle Gas
Gas prices are at an all-time high. And costs aren't going to drop anytime soon, according to economic forecasters. Why not get around the cheap — and healthy — way? Run your errands and get to work by bike or on foot, and you can save not only on gas money, but also on wear and tear to your auto. "Nearly every day for two years, I've been commuting via bicycle," says Jay Snyder of Ivins, Utah. "As far as saving money, my car typically sits in the driveway Monday through Friday, so rising gas prices are just as relevant as the price of the Big Macs that I pass by each day."
#3 Better Health
Equals More Pay
Studies show that people who are healthier are more productive and use fewer sick days at work. For example, one study of 884 subjects showed that those who exercised at least once per week took, on average, 4.8 fewer sick days than those who exercised less or not at all. That may not make much difference if you work 9 to 5 and get sick days, but what if you're a freelancer? Or you've used up your sick days? Or you work part-time? Get thee to the gym, and you may be able to boost your income.
#4 Shrink Your Waistline —
Save On Wardrobe Costs
If your weight yo-yos, so does your wardrobe. But if you slim down and maintain your fitness level with regular exercise, your constant shopping for clothes that fit no longer applies. A regular exercise regimen makes shopping for new threads easier and thriftier.
#5 Save on Gym Memberships
Some employers and insurance plans offer free or reduced-cost gym memberships. "After 90 days of employment, firm members are given the option of joining Lifetime Fitness under our corporate membership," explains John F. Rippinger, president and chief visionary officer of Resource Brokerage, located in Schaumburg, Ill. "We pay the full initiation fee and set them up on a monthly reimbursement schedule for their monthly club dues."
And some offer even more goodies as incentives to get fit. Destiny Health's consumer-driven health plan, Vitality Destiny Health, will reimburse member families up to $1,000 for joining any gym, smoking-cessation program or weight-loss program; the company even offers perks like movie tickets and airline miles. "I've earned a total of eight movie tickets and 12,000 airline miles, and the best benefit was a $500 savings with the birth of my twins," says Brian Cannon of Chicago. "That's an estimated savings of $760 in the last 17 months."
#6 Join the Club
and Save Money
If you belong to Weight Watchers to pare pounds, you can win by losing. Weight Watchers meetings average $9.95 per session. If you reach your goal weight and maintain it for six weeks, meetings are free. For more information, call (800) 651-6000.
#7 Less Rx
Prescription meds can be expensive, even if you're just shelling out for an insurance co-pay. Get fit, and you may be able to drop the pricey prescriptions. According to a study by the Mayo Clinic, male executives who are categorized as obese spend $80.31 per month on prescription medications, and overweight executives spend $39.27 monthly. Healthy executives spend only $22.84 on prescriptions. These executives are an average of 47 years old, but you can see how the benefits of fitness can cut anybody's drug costs.
Take Kat Carney of Los Angeles, who was on three types of prescription medications at various times to treat her polycystic ovary syndrome (PCOS). "Until the age of 29, I was the stereotypical overweight couch potato," she says. "At 28, I was diagnosed with PCOS, and I tipped the scales at over 240 pounds. I'd been heavy all my life, but this was an all-time high." Carney researched nutrition and exercise online, joined a gym, started eating healthy, and lost 90 pounds in 14 months. Best of all, she no longer needs medications for PCOS.
#8 The Tax Man
Cometh—Not
Think Uncle Sam is all take and no give? Believe it or not, the IRS lets overweight people deduct the cost of doctor-prescribed weight-loss programs on their taxes if the expenses exceed 7.5 percent of their adjusted gross income. If you have heart disease, high blood pressure, high cholesterol or type 2 diabetes, doctor-prescribed weight-loss qualifies as a treatment even if you are not obese. Weight-loss programs that are deductible include those made available by hospitals, health-care providers and commercial companies. Visit www.irs.gov, and search for 2004 Publication 502 for more information.
#9 Get Healthy
for (Cheap) Life
"It's actually possible for men and women to cut their life insurance costs by more than half if they quit smoking, lose weight, and lower their cholesterol and blood pressure," says David Potter, public relations manager for Hartford Life. "If you're overweight and have elevated blood pressure and cholesterol, the same policy would cost you $1,385 a year. If you lose weight, eat a low-fat diet and lower your blood pressure and cholesterol, you'd pay $770, a 45 percent savings."
In addition, nonsmokers can save big, says Potter. For instance, a 45-year-old male in relatively good health can save 70 percent of the cost of buying a $500,000 term life insurance policy by quitting smoking. Hartford Life charges $2,905 annually for a person in good health but smokes, compared to $885 for someone who's in good health and doesn't smoke.
#10 Save on Health Insurance Costs
It's not just life insurance. People with chronic problems such as high blood pressure and type 2 diabetes pay more in health insurance costs. If you can alleviate these conditions through diet, exercise and a healthy lifestyle, you may be able to save on health insurance premiums. And, of course, cutting out smoking will help. Quit the habit and reap the benefits in your health — and your bank account.
