Number 7 – Get Fit
About two years ago, I began a search for new term life insurance policies – one for myself and one for my wife.Â When the quotes started rolling in, I noticed something.Â Her premiums were lower – much lower – than mine.Â At first, I thought this might be because she’s a woman and I’m a man.Â I called an agent and asked why there was such a discrepancy, and he told me that it had much more to do with the fact that I was overweight, than it did with my wife being a woman.Â As a test, I ran a few more quotes, using my ideal weight, instead of my actual, and I was shocked.Â The premiums were reduced by more than 50%!Â Moral of the story?Â It pays to get fit.
Lower Insurance Costs
If you plan to purchase life insurance, disability insurance, or heath insurance, and you are not covered by a group policy from your employer, more than likely, the more in shape you are, the lower you premiums will be.
Lower Gasoline Costs
Back in July, Lazy Man wrote a very interesting post about saving money while driving – and he included a quick tip about how losing weight increases gas mileage.Â I’d never really thought about this, but after doing a bit of research, it looks like reducing the weight in an automobile by 100 pounds will reduce fuel costs by 2%.Â As some of you know, I also blog about weight loss, over at No. Calories Needed, and my ultimate goal is to lose (about) 80 pounds.
Lower Health Care Costs
When I write “get fit” – I usually mean “lose weight”.Â The truth is, obviously, that getting fit is about much more than simply losing weight.Â Here are two big time health issues that cost billions each year –
Smoking – If the fact that it causes cancer doesn’t deter you, perhaps the fact that it’s a very expensive habit will?Â At $3 a pack, per day, your habit costs you more than $1000 per year.
Type 2 Diabetes – From WebMD: Anyone can get type 2 diabetes. However, those at highest risk for the disease are those who are obese or overweight… My grandmother had diabetes.Â She had to learn to give herself shots, she was constantly checking her “sugar”, and she dealt with terrible pain in her joints and limbs.Â Diabetes is a debilitating, expensive disease.
Lower Clothing Costs
This one might be stretching it – (get it? stretching it) – but, as a big dude, I pay more for clothes than a skinny dude does.Â Well, I did, until last week when I moved down from 2X to XL shirts.Â That’s write, after losing more than 8 pounds, I bought a new shirt in the regular sizes department.Â Larger sizes, of the same style garment, cost more (at certain retailers).Â Losing weight not only reduces the cost of new clothes, it also makes those “one day I’m going to get back into these” clothes in the closet into “wow, these fit” clothes.
I’m sure that there are other benefits that I’m forgetting.Â Can you think of some more ways that losing weight helps us save money?
4 thoughts on “Top 10 Ways To Save Money – Number 7 – Get Fit”
You eat less, which saves cash. We also share restaurant meals which makes our dinner’s out half the price of most people’s nights out. Mr Chiot’s and I have been fit all of our lives, it’s one of those things that you don’t want to neglect because it’s much harder to get back into shape than it is to maintain proper fitness.
This year we have been trying to eat locally and seasonally and this has helped make us healthier than ever. We eat tons of fresh veggies (we grow some ourselves) and we’re buying locally raised pastured meats (beef, pork, chicken & turkey). We have found that we’re eating a lot less processed food and that is saving us tons of money each month. Local veggies in season are inexpensive (I just got a bushel of apples for $2 – yes that makes them about .06/lb try finding that price at a grocery store). On average we’re saving about $100 a month on groceries.
That’s an interesting take. In addition to insurance costs, don’t forget the reduction in actual medical costs. Long-term treatments for obesity-related illnesses like diabetes, heart disease, hypertension, joint and back problems, and the like can be ruinous.
If you belong to a gym and have insurance, look into your policy. I know mine (and others) credit you for your gym membership if you go more than 100 times in a year. Usually have to ask your gym to print you out a sheet, send it off to them and they’ll credit you for it. Not a bad deal, getting paid for staying fit.
If you can, commuting to work by bike will save you money and help you lose weight. I’ve lost 60 lbs and returned my blood pressure to the normal range – and my commute is only 3 miles one way. I’m also lucky to live in an urban area and this has allowed me to forgo purchasing a car. So no payments, no gas, no insurance, no major expenses. Bicycle repair is dirt cheap in comparison and it’s a whole lot easier to learn to do basic mechanical repair than with a motor vehicle. I also know some families who have been able to live easily with just one car thanks to bike commuting.
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