If you lose a lot of weight, you’re more likely to also gain in wealth. Thus finds an Ohio State University study from a few years ago. 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 wealth.
The study is interesting, although it’s not news (it’s from 2005). If you read it, try to overlook the tight controls and what might seem like strangely arbitrary units of numbers for deciding how to measure wealth. That’s just the only way the study can proceed.
There’s no way to tell from the data whether losing weight was the reason for the gain in wealth, but the linkage was definitely there, said Jay Zagorsky, author of the study and a research scientist at Ohio State University’s Center for Human Resource Research. “The typical person who loses or gains a few pounds had almost no change in wealth, but those who lost or gained large amounts of weight had a more dramatic change,” Zagorsky said. “If you really want to impact your wealth, you have to move from overweight or obese into the normal range,” he said. “You can’t just drop 5 or 10 pounds and change your wealth.”
Of course, studies like this always just confirm what many of us already know. It’s really not surprising to see this correlation. But there are always people who want to see numbers and “proof.” It’s great to have the evidence, but many of these studies have their own limitations. In the end, it always comes back to what you know to be true for yourself, I think. Which is part of the justification behind my ideas about fasting for “financial fitness.”
I know from my time as a personal finance blogger that many of my blogger friends are very highly motivated individuals, and many of us are equally motivated about losing weight and getting fit as we are about our finances. Some of us even have our own fitness blogs, too! Which reminds me, many of us are going to be taking the Personal Finance Blogger Weight Loss Challenge being held at ManVsDebt from June-July 2009. Find us there and follow along! My own goal is to lose 10lbs by July 31.
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I think that pretty much any action that leads to better physical health will increase your ability to get more financially healthy. I generally find that if I am making it to the gym and keeping my confidence levels up that I tend to stress less about money and even put more in savings.
Maybe when you start to make one part of your life healthier (in this case the physical aspect) some other areas start to fall in line as well?
Definitely. I’ve noticed that too, when you start making positive changes in one area, the others follow – or some of them do!:) It’s gotta be about confidence and momentum, and also you need to have it in your head that you can get to the next level, it’s gotta be part of your mindset.
My wife & I have both lost weight since adopting a more frugal lifestyle. We are both lighter, healthier, happier, and more secure financially!
I recommend it to everyone!
@MattJabs – that’s awesome! Extra weight is kind of a lot like extra debt. Some people hate that comparison, but it’s useful for me!
Great. Since I’m starting the weight loss challenge over at manvsdebt, I should be lighter and wealthier in 61 days!
Cool
You hit the nail on the head with this piece. And the same applies for those too thin who are trying to gain weight (e.g. work-out and bulk up). It is all in your head and the image of seeing yourself looking better just spills off into other things into their lives such as improving fianances.
@Neal – I’m doing the challenge as well – team Epsilon! I’m going gradually, just trying to make sure I can guarantee a 10lb loss. Anything quicker than that for me will probably just boomerang back.
Interesting article. I think it becomes much easier to eat healthier and become slimmer when you have more money. It also makes it easier to get a gym membership as well. It also becomes really important to become healthier and lose weight so that you can enjoy that money you are saving when you get older.
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