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  1. #1

    Default Could a financial incentive help you lose weight?

    I saw a story on the news today about stickk.com, a new website that allows you to place a financial bet on your ability to lose weight, quit smoking, or kick any number of bad habits.

    Let's say you want to lose 20 pounds. You sign up on the site, give them some money, and post your goal. If you reach your goal, you get the money back. If you fail to lose 20 pounds by the date specified, then the money goes to a person or charity designated by you. They even recommend designating the money for a charity you dislike so that the incentive is increased! You need to designate a person you know as your "referee" to confirm to the site that you have indeed accomplished your goal so you can't lie. You can also have the site send emails on your progress to your friends and family for more accountability and encouragement.

    Does anyone think that this incentive would work for them? I'm seriously considering it. I'm nothing if not cheap.
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  2. #2
    you are right mippus's Avatar
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    The money wouldn't do the trick for me, but maybe the mails on my progress would...
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    Dhampyr Economica's Avatar
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    Quote Originally Posted by FMWarner View Post
    Does anyone think that this incentive would work for them? I'm seriously considering it. I'm nothing if not cheap.
    Yes, this works (for some, at least), for the same reason that causes health clubs to make you commit to flat fee memberships instead of paying per visit: The incentive counteracts the so-called present bias that causes you to not want to do now what you would like yourself to do in general (such as exercise). Go for it!

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    ish red no longer *sad* nightning's Avatar
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    Quote Originally Posted by FMWarner View Post
    I saw a story on the news today about stickk.com, a new website that allows you to place a financial bet on your ability to lose weight, quit smoking, or kick any number of bad habits.

    Let's say you want to lose 20 pounds. You sign up on the site, give them some money, and post your goal. If you reach your goal, you get the money back. If you fail to lose 20 pounds by the date specified, then the money goes to a person or charity designated by you. They even recommend designating the money for a charity you dislike so that the incentive is increased! You need to designate a person you know as your "referee" to confirm to the site that you have indeed accomplished your goal so you can't lie. You can also have the site send emails on your progress to your friends and family for more accountability and encouragement.

    Does anyone think that this incentive would work for them? I'm seriously considering it. I'm nothing if not cheap.
    No... why give a company money? For me... I hate to fail publicly. So the best way would be to announce to people that I'm going to do something. Make a small bet with people I know about carrying it out. The money doesn't matter... it's face. But that's me though... might not work for you. =]

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    Senior Member ThatsWhatHeSaid's Avatar
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    FM, I use bets to motivate me for anything. The difference being that there's something to GAIN, in addition to something to lose. It doesn't even require that you give up the same thing, just that the considerations are equivalent (or that the odds are adjusted). For instance, you have to lose 10 pounds in 2 months while your friend, Uber, doesn't post on MBTIc.

    Current bets: first one of my brother and I to smoke pot must pay the other $75; first two to drink or smoke between my 2 friends and I must pay $100. I'm thinking of giving up caffeine, too.

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    almost nekkid scantilyclad's Avatar
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    I don't think money is important enough to me for it to actually be an incentive.
    My health and wanting to be around for a long time for my child is really the only thing that motivates me.
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    Senior Member Grayscale's Avatar
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    i think people can be motivated by things external to the problem they are attempting to resolved for short periods of time, but in the long run the motivation needs to come from the willingness to sacrifice to solve the solution itself or it the motivation will be short lived

    the problem with being overweight is that it unhealthy, the motivation to change should be founded in a sincere and strong desire to live a healthy life... that attitude is the commonality between people who are able to not only become healthy but stay healthy
    Last edited by Grayscale; 03-05-2008 at 07:23 PM.

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    Per Ardua Metamorphosis's Avatar
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    At first glance, I would think it would work. But then I think...wait...health and looks wasn't enough...so probably not.

    especially if they are just getting the money back that they put in
    "You will always be fond of me. I represent to you all the sins you never had the courage to commit."

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    than to serve and obey them. - David Hume

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    Protocol Droid Athenian200's Avatar
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    I think it would work better if you got paid to do it rather than just getting the money back... but honestly, I've actually paid money to eat healthier so that I could lose weight before, so I don't know. Also, I think the trick is keeping weight off, not losing it in the first place.

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    Senior Member alcea rosea's Avatar
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    Could a financial incentive help you lose weight?

    No.
    It's all about my own inner motivation that is needed.

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