There are many financial benefits of losing weight. Therefore, if you’ve been thinking about shedding some pounds, and you want to improve your personal finances, losing weight can jumpstart your efforts. When thinking about losing weight, many people focus on the health benefits. It's a way to lower the risk of certain illnesses, improve anxiety and regular exercise can boost energy levels. But while you're improving your health, here are seven financial benefits of losing weight
1 Lower Healthcare Costs
The financial benefits of losing weight include lower healthcare costs. Losing weight reduces the risk of developing certain illnesses. And since regular exercise can contribute to a stronger immune system, you'll deal with fewer illnesses and probably schedule fewer doctor appointments during the year. Once you're in better health, this also alleviates the need for expensive medical tests, which can trigger medical bills.
2 Cheaper Life Insurance Premiums
Life insurance companies base premiums on your weight and medical history. Since losing weight can lower your risk of several illnesses, such as heart disease and diabetes, maintaining a healthy weight makes it easier to get life insurance at an affordable rate.
3 You Can Get Life Insurance
Losing weight not only results in an affordable premium, it also increases your odds of getting approved for life insurance. The ability to secure life insurance is a huge financial benefit for your family. If you have children or a spouse, the death benefit can cover the cost of your funeral and burial, plus provide your family with financial support.
4 Better Job Prospects
It's not fair or right, but some companies discriminate and refuse to hire people who are overweight or obese. You might have the experience and the skills to handle the responsibilities, but if you're overweight, employers realize that you have a higher risk for illnesses and health problems. Also, if you're unable to move around quickly, extra body weight might slow productivity in the office.
5 Better Fuel Economy
Did you know that for every hundred pounds you remove from the car, your fuel economy improves by 2%? This may seem like a minor difference, but the savings add up over time. Let’s say your entire family is overweight. If everyone in your household were to drop pounds, this decision might stretch your gas and reduce your transportation cost.
6 Lower Food Cost
As you lose weight, your body will slowly adjust to smaller food portions. Before you know it, you'll require less food to feel satisfied. And if you feel satisfied sooner, this reduces how much you eat. As a result, you'll eat less at restaurants, and the food in your house will last longer. Both changes help lower your food expense.
7 Exercise is a Distraction
Since being active and exercising is a big part of losing weight, the fact that you're busy and active can serve as a distraction. For example, if you normally go shopping when you're bored or feeling sad, focusing on your weight loss goals during this time can take your mind off spending money and help you reach your goal sooner.
So yes, losing weight has a multitude of health benefits and it can add years to your life. But while you're improving your health, don't forget how exercise and losing weight can benefit your pocket. What are other financial benefits of losing weight?