One of my favorite movie scenes is Jerry McGuire’s “Show me the Money”
The bottomline with Cuba Gooding Jr’s character, Rod Tidwell, is to show him the money. This famous line won Gooding an Oscar.
Appears that money talks when it comes to retaining a football client and money talks when it comes to losing weight.
A recent study by the Mayo Clinic found that a mere $20 per month incentive helped dieters meet their weight loss goals.
100 Mayo clinic employees were given a goal of losing 4 lbs per month. There were two groups.
Group 1 was given a cash incentive. This group received $20 if they reached their 4 lb weight loss goal each month. If they failed, they had to pay $20.
Group 2 received no financial incentive.
The study was conducted over a one year period which helped dieters cement new habits.
Only 26 percent of dieters made it to the finish line with no cash motivation while 62% of dieters with money on the line met their weight loss goals.
“The take-home message is that sustained weight loss can be achieved by financial incentives,” lead author Steven Driver, M.D., an internal medicine resident at Mayo Clinic, said in a press statement. “The financial incentives can improve results, and improve compliance and adherence.”
Since you can’t be part of a Mayo Clinic Study, there are still three ways you can apply this study.
Set a weight loss or fitness goal. Plus a time period for achieving the goal.
Have a trusted friend or family member give you a cash incentive to lose weight.
Ask a trusted friend or family member to hold a motivating sum of money that you don’t want to lose that you put on the line..
Use a website to hold your money or pay you for achieving your goals.
There are several websites but Healthy Wage is one of the better known websites. Healthy Wage offers different individual and team challenges.
You can be rewarded without putting any money in the pot or you can put some of your dollars on the line for greater financial rewards.
Use money as a powerful motivation tool to find success.