Two of the most common New Year’s resolutions out there are to, 1) lose weight and 2) save money. It’s no secret that these two are related in many ways. By doing one, you could easily achieve the other. Here are some examples courtesy of Philip Taylor of PT Money:

The Hidden Costs of Poor Health Care

Individual health insurance will actually cost you a good deal more if you are obese. Substantially overweight people are at an increased risk for having health problems so the cost of your insurance premium will indeed be higher.

A recent study on the costs of being obese in America reported, “The overall, tangible, annual costs of being obese are $4,879 for an obese woman and $2,646 for an obese man. The overall annual costs of being overweight are $524 and $432 for women and men, respectively.”

The expenses adding to the costs included direct medical costs, absenteeism, and employer costs, as well as personal costs such as clothing, daily needs, gasoline, and others. The big difference between women and men is due to the connection between obesity and lower wages in women. Basically, obese women face much more wage discrimination.

Using Money as a Health Motivator

Try using the website stickK if you want to try the strategy of making a bet with friends to improve your health. At stickK, you can put your money at risk while you work toward your goal of dropping a few pounds. You could also try HealthyWage, a site that actually pays you/team members to lose weight.

Head over to Consumerism Commentary’s Why You Should Care About Your Wallet and Your Waistline to read more.