From workplace health initiatives that reward employees if they lose weight to apps that will pay you if you shed pounds, there’s several ways you can earn a little cash while losing weight. But can a fatter wallet actually incentivize you to slim down your waistline? And, should workplace wellness programs be putting money on the line in an effort to improve employees’ health, thus potentially driving down healthcare expenses? We hate to go all Sarah Koenig in season 1 of “Serial” on you, but the answer isn’t totally clear and, in fact, studies really tend to conflict one another on this topic. Here’s what research has to say on the correlation between financial and fitness gains. [caption id="attachment_10150" align="alignnone" width="1500"]
Flickr | 401(K) 2013[/caption]
People respond best when their reward is threatened
A study last year from the University of Pennsylvania’s Perelman School of Medicine found that financial incentives intended to increase physical activity were most effective when the rewards were put at risk of being lost. Here’s how they figured that out. For the study, 281 obese or overweight adults were tasked with reaching 7,000 steps per day over a 26-week period. For the first 13 weeks, participants were randomly assigned to one of four groups:
- the control group, where there were no financial incentives
- the gain incentive group that received $1.40 for every day they met the goal, which could translate to $42 per month
- the lottery incentive group that was offered entry into a daily lottery with a possible prize that averaged $1.40 each day the goal was achieved
- and, finally, the loss incentive group, which gave $42 to participants at the start of the month, and took $1.40 away each day they didn’t achieve the goal.
(In the second half of the study, participants received feedback on their performance -- but there were no incentives offered). The results? Offering $1.40 each day the goal is achieved or offering a shot at the lottery were no more effective than offering no reward at all. In these groups, participants achieved the daily goal approximately 30 to 35 percent of the time, the study found. But the participants who risked losing their reward were much more serious about hitting their daily 7,000 step goal. They achieved their goal about 45 percent of the time, translating to an almost 50 percent increase over the control group. 
People lose more weight when they bet on their weight loss
You may have noticed there’s a lot of apps out there that will wager on your weight loss or fitness goals. (If you want to give it a try, check out apps like Pact or DietBet.) A 2013 study from the Mayo Clinic conducted a year-long weight loss study and found that earning $20 to lose weight could be enough to push the scale in the right direction. Two groups were tasked with dropping 4 pounds per month.
- One group was financially incentivized: if they hit their goal, they were $20 richer. But if they didn’t, they had to put $20 in the payout pot.
- The other group didn’t have any financial incentives.
Turns out, the cash reward (or fear of having to pay out) worked because those who had financial incentives lost an average of 9.08 pounds. Their peers in the group with no financial incentive lost, on average, 2.34 pounds. [caption id="attachment_12167" align="alignnone" width="1500"]
Getty Images | Guido De Bortoli[/caption]
Actually, money might not make you hit the gym
The first two studies sound promising for your pectorals, right? But, the latest study found that the potential of earning an Amazon gift card didn’t actually motivate people to hit the gym much more often. The National Bureau of Economic Research released a study that included 836 new members at a gym in the Midwest. Participants were divided into four groups. The first was the control group that received a $30 Amazon gift card after six weeks, no matter what. The other groups were rewarded for going to the gym at least nine times in the first six weeks of memberships—but the rewards differed. They were a $30 Amazon gift card, a $60 Amazon gift card and an item of their choosing on Amazon worth $30. The study found, though, that participants who were incentivized with rewards only made .14 more visits to the gym on average than those in the control group, according to Business Insider. 
So, what really motivates people to lose weight and get fit?
Cash aside, what really causes people to workout and move toward their health goals? Friendly competition might do the trick, according to a 2016 study from the Annenberg School for Communication at the University of Pennsylvania. Or, you might want to try to curate a kick-butt playlist. Numerous studies have found that music helps people work out harder and longer, and stay more positive throughout their exercise regimen. 
[H/t: Glamour, Men’s Fitness and Business Insider]
This story originally appeared on Don't Waste Your Money. Checkout Don't Waste Your Money for other great tips and ideas to make the most out of life.
