Posted by : Terence Yeo Wednesday, January 15, 2014
[savings type - $$; >$200 over 8 weeks ]
Did we say they will pay you to lose weight? Yes!
Fit to Win is Singapore's first social weight loss challenge where participants are incentivized to lose weight via a financial reward system. Here's how it works:
1. Players begin by placing a bet of $20 into a general money pot.
2. Everyone who loses 5% or more of their starting weight over the course of eight weeks gets to split the pot equally.
3. The top three players who loses the highest percentage of their starting weight will be further rewarded with prizes worth up to $3000.
In case you're wondering where the $1 fitness class is sitting in all this, read on.
Besides creating an innovative concept of providing a platform for like-minded Singaporeans to lose weight together, the challenge also provides an 8-week fitness program for every participant who signs up. What this means is that upon registration, you will gain free access to a list of fitness classes including Zumba, Kickboxing, Pilates, Capoeira etc. conducted by the associated fitness partners. Well, how do the numbers look?
$20 bet + $5 registration fee = $25
3 free fitness class credits per week x 8 weeks = 24 credits
Effective cost = ~$1/fitness class
Assuming an average fitness class out there sets you back ~$10/session, you're looking at more than $200 of savings over an 8 week period.
Now we know that the program is enticing because you have the potential to win some money from the pot; but think about it, even if you miss the 5% mark, you're effectively signing up for a 2 month fitness program at a dollar per class.
So, happy 2014 to you all from Lifehacksg! Stay fit, healthy and win some money!
p.s. share some winnings with us will you?