Want to Get Paid to Lose Weight? Join the Penny Hoarder Weight Loss Challenge

After my first two semesters in college, I knew I had to make a change. I had always been a skinny kid (heck, I graduated high school at 5”11 and 130 lbs.), but after a year of eating non-stop pizza, Funyuns, and um… “beverages,” I had gained nearly 25 pounds!

I might have looked in shape with a t-shirt on, but I knew I was way too young to be out of breath after going up a single flight of stairs.

Does this sound familiar?

How to Get Paid to Lose Weight

If want to lose weight but don’t know where to start, now’s your chance to grab a few friends, family members or colleagues and lose the weight together.  We’ve got something that will make the process fun and exciting, instead of nasty.

The Penny Hoarder has partnered with HealthyWage to offer a private Jackpot challenge for PH readers and their friends, family and colleagues.  It’s going to be a blast! Here’s how it works:

We are all going to form teams of 4-9 people — sign up and let us help with inviting your friends and family.  Each participant puts money into the Jackpot ($20/mo or $60 total).  Your team will be competing along with mine to lose 6% in three months.  Winners (teams that lose 6% before the end) each get an equal share of the Jackpot.

The sky is the limit on how big the Jackpot can grow, and each participant’s payout depends on how many people enter and how many people win.  Typically, if your team hits the goal, you double your money or more.

Why HealthyWage?

HealthyWage is based on some important research out of Harvard, Penn and Mayo over the last few years that says, not surprisingly, that financial games with social components make us more likely to lose weight.  In short, the biggest secret is your desire to avoid letting your teammates down.  You wouldn’t want to be responsible for preventing your teammates from winning a share of the Jackpot!

So join us for some fun and to see who can win a share of the Jackpot.  The goal:  get as many people to sign up as possible, have a ton of fun and lose at least Boeing 747’s worth of pounds!  The challenge runs for 12 weeks starting on Thursday, May 21, and registration is on now!  After registering, you can either make a team or join an already-existing one.

A Few Tips to Help You Win…

And for inspiration, here are my go-to weight loss rules:

  • Limit going out. This will help you control your portions. When I stopped eating 3x the amount of pizza I should have at each meal the pounds began to disappear.
  • Create a meal plan. If you plan your meals ahead time, you’re more likely to stick with it.
  • Cook with black tea instead of olive oil. No really. You don’t realize how many calories / fat is in each teaspoon. I used to brown chicken in black tea and no one knew the difference.
  • Get to know and love unsweetened applesauce. It’s a great snack. Sweet enough to curb any craving.
  • Allow yourself a dessert every now and then – but follow the portion size. 1/2 cup of ice cream is about right. I used to eat half a container (he hides in shame)!
  • This is a marathon not a sprint. It’s great to have high expectations, but make it a life decision. Don’t set unrealistic goals. Do what you can and don’t be hard of yourself when you slip up. We are all human. Make the decision to lead a healthier life and stick with it. That doesn’t mean you have to stop enjoying your favorite treats. Just live life in moderation.

So – are you ready to drop 6% in three months? Click here to sign up and to find more information.

Good luck everyone!