HealthyWage Review: Payout and Conclusion

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I’ve been so busy lately trip planning and traveling that it wasn’t until a few days ago that I remembered that I never wrote a final post about my experience with HealthyWage! If you are new to the site and have no idea what I’m talking about, check out my original post and update below for some background.

Overview

Overall my experience with the company was wonderful and seamless. Even though I read tons of great reviews and did plenty of research on the company prior to starting my challenge, in the back of my mind I was a little nervous that for some reason I wouldn’t actually get the payout in the end. That was likely due to the large amount that I bet on myself, and the thought of losing that much money was terrifying. It turned out that the worrying was a waste of time as everything went smoothly including the payout. I never had problems with weigh-ins using the smartphone app, no problems with payouts from challenges, quick verification of my ending weight, and the final payout arrived in the mail within a few weeks of requesting it. Whitney also won her challenge and had no problems whatsoever on her end.

Recap

I originally bet $3,976 on myself to lose 45 lbs in 8 months. I knew that this would be achievable for me since I had been in that weight range about three years ago during grad school. Potentially, I stood to make $720 from reaching that goal, which would have been a little over a 18% return on investment during that 8 month period (beat that VTSAX)!

In reality, I was able to get a much better return than that from referral bonuses to friends ($40 each both for me and for them) as well as signing up for a ton of “mini-challenges” throughout the process. These additional challenges were a perfect compliment to my main diet bet, because not only did I win money from them along the way, but they also kept me on track to reach my main goal with smaller goals as stepping stones.

A couple of the smaller challenges I participated in were for averaging 10,000 steps per day, but I soon found these to be more hassle than they were worth since I had to manually enter my steps and the payouts were usually less than $5 on a $60 bet. The rest of the small challenges I signed up for along the way revolved around losing 6% of my body weight in a three month period. Since I had to lose about that much every three months anyway to reach my main goal, these challenges ultimately just meant additional return on my investment. It wasn’t uncommon to win $30 or more on a $60 bet for these weight loss mini-challenges, which I thought was pretty awesome.

Cash Winnings and Return on Investment

In total I cashed out $6,186.05 on June 2nd once my challenge ended, which meant a total gain of $2,210.05 in an 8 month period, while losing over 45 pounds!

That’s a 55.6% return on my investment for losing weight that I needed to lose anyway!

If that isn’t awesome enough, I also took advantage of the monthly payments for my bet by putting those charges on credit cards that I was trying to meet the minimum spending requirement on for the sign-up bonus. Because of that extra spending, I was able to sign up and get the bonus for two additional credit cards during that eight month period.

It was a WIN – WIN – WIN for me!

Why Wait?

If you’ve been procrastinating with losing weight and want an extra incentive and way to keep yourself accountable, I can’t recommend HealthyWage enough!

The $2,200 I won from them was part of the reason that I felt financially secure enough to take six months off and embark on our current around the world trip.

The 45 pounds I lost along the way has made me feel much more energetic and better about myself overall, and I don’t think I would have followed through with the weight loss without having a significant amount of money on the line.