How to Save Money and Lose Weight

It’s the beginning of the year which means you (and many other people) have begun working to meet their New Year’s resolutions. Most people resolve to lose weight or save money but why can’t you do both? Below you will find some tips on how to save money AND lose weight.

How to Save Money and Lose Weight

About 72 million people in the United States are obese. Additionally, more than half of Americans would be caught unprepared if they were hit with a $1,000 emergency. Many people set out to lose weight in the new year. People also resolve to save more in the new year. It has always been one OR the other. Why not both? Here are some of the easiest ways to save money and lose weight:

Cut portion sizes. Cutting portion sizes is a great way to save money and lose weight. Obviously scaling the amount you eat down will help you drop a few pounds and if you cut your meal in half you can cut your cost in half. For example, if you normally spend $5 per plate for a meal at home it will now only cost $2.50 per plate.

Shop at Farmer’s markets. Farmer’s markets are great places to find great, fresh produce and save a buck or two. You can pick up healthy veggies, fruits and snacks at a farmer’s market for far less than you’d spend in the store and stick to your diet as well.

Don’t buy soda (or red meat). Soda and red meat are both a diet’s worst enemy. Both products aren’t that great for you health wise and if you cut them out of your diet and budget you’ll be able to save money and lose weight.

Cut alcohol. Alcohol, like soda, is not something you should include in your diet to lose weight. Some alcohols (like wine) have been proven to have some health benefits but by cutting alcohol you’ll shed weight more quickly and your wallet will thank you too.

Skip Starbucks. There are a ton of people that swing through the Starbucks drive thru every day. Skip the latte and make a cup of coffee at home. You can get a cheap coffee maker and purchase coffee fairly cheap.

Losing Weight Can Save You Money

If you follow some of tips mentioned above you can save some cash while losing weight. There’s something many people don’t realize though. For the most part the focus has been on how to save money and lose weight at the same time, however, losing weight can actually save you money in the long run.

Losing weight can ultimately save you money on food (because you’ll be eating less). You’ll also spend less on health-related expenses like doctor’s appointments and insurance premiums. Overweight and obese individuals generally spend more on insurance and doctor’s visits throughout the year. Dropping weight can save you some of that cash but it can also help you earn money.

Losing Weight Can Earn You Money

Not only can losing weight save you money but you can also earn money losing weight. A new weight loss incentive program called Diet Bet has been getting national attention. Essentially the program has people bet on themselves losing weight. You get a betting group together and then (if you and the others meet your goals) you split the pot between one another.

Losing weight can be a huge task for anyone. If you’re also trying to watch your budget closely, it can put a strain on your diet. However, if you are looking to save money AND lose weight in the new year it is possible and remember that it will be worth the effort in the long run.

Photo: TipsTimesAdmin