The hidden cost of obesity and FIVE strategies on how losing weight could save you money!
Saving Money when the cost of living sucks!
At a time when the cost of living has skyrocketed with inflation and interest rate that just seem to be stepping up every month, it has never been a better time to reassess some of the more effective cost-saving strategies that also allow significant benefits in your physical and mental health. Many scientific studies are beginning to provide compelling evidence that a high BMI is associated with a high price of living.
Paying the Price for Those Extra Pounds
Excess weight harms health in many ways. It increases the risk of developing conditions such as diabetes, heart disease, osteoarthritis and some cancers, to name just a few and reduces the lifespan. This itself creates an increased expense on medications, doctors and hospital visits and the need for allied health support.
In an article published in MJA in 2010 researchers found that on average the cost of living almost doubled when as the BMI of their participants went from the normal range to the obese range.
Direct and Indirect Costs of Obesity
Two types of costs are associated with the treatment of obesity and obesity-related conditions:
Direct costs are those that result from the need for health services (including surgery, emergency ), laboratory and radiological tests, and most importantly medications.
Indirect costs, which have been defined as “resources forgone as a result of being overweight,”(2) fall into various categories:
- Value of lost work. Days missed from work are a cost to both employees (in lost wages) and employers (in work not completed). As per one study, overweight employees miss more days from work due to short-term absences, long-term disability and premature death than non-obese employees. (3) They may also work at less than full capacity (also known as presenteeism).
- Insurance. Obese individuals are likely to fork out higher premiums for their health insurance due to their higher reliance on health services.
- Wages. Some studies have shown that obesity is associated with lower wages and lower household income. You may ask what’s the relationship between body type and salary? Studies have identified several factors at play. Conscious or unconscious biases against overweight employees can influence hiring and promotional decisions that prevent overweight workers from moving as far up the career ladder as normal-weight employees. Obese workers also tend to work fewer days than their normal-weight peers due to poorer health.
- Gasoline use. Researchers looking into the relationship between weight and fuel use, found that almost 1 billion more gallons of fuel were used each year due to the average passenger’s weight increasing from the normal to obese range. (4)
- Value of lost life due to premature mortality. Studies looking into the value of years of life lost due to premature death as a result of being overweight were the most significant with morbidly obese men.
Indirect costs are harder to identify and measure than direct costs.
Top Five Reasons Why Losing weight could help you save more money
Losing weight isn’t just good for your waistline. It can also be good for your wallet.
A new study shows there are financial benefits to losing weight in addition to the well-documented benefits to your overall health. Researchers at the Johns Hopkins Bloomberg School of Public Health released a report finding significant cost savings in adults if they lose weight at almost any age. The findings were published in the journal Obesity.
Here are some of the ways you can save money by lowering your BMI
1. Lower medical bills
The most obvious place you can cut costs by getting to a healthy weight is your medical bills.
2. Higher income
Being overweight not only costs more, it can also limit the amount you earn, at least if you’re a woman.
3. Lower fuel and transportation costs
Perhaps surprisingly, additional body weight actually makes a difference in how much fuel your vehicle uses.
4. Save money spent on diets and weight loss pills
5. Reducing your portion sizes and relying less on takeaways
Cooking your meals at home is a great way to save money, while feeling great.
It has never been a better time to think about shedding those extra pounds that are costing you a lot.
A Holistic Approach to Weight Loss
At Body Genesis Institute we believe in a holistic Mind, Body and Gut based approach for weight management. Make an appointment with our patient advisor today to discuss your options.
1. Trogdon jg, finkelstein ea, hylands t, dellea ps, kamal-bahl sj. Indirect costs of obesity: a review of the current literature. Obes rev. 2008; 9:489-500.
2. Colditz ga. Economic costs of obesity. Am j clin nutr. 1992; 55:503s507s.
3. Wang cy, mcpherson k, marsh t, gortmaker s, brown m. Health and economic burden of the projected obesity trends in the usa and the uk. Lancet. 2011; 378:815-25.
4. The economic impact of obesity in united states. Https: //www. Ncbi. Nlm. Nih. Gov/pmc/articles/pmc3047996/