Lose Weight for a Bet

Motivation is a big part of weight loss. Without some driving force, it's easy to slip back into bad habits and forget about your weight loss goals. Sources of motivation range from wanting to improve a certain health condition to fitting into those skinny jeans again. But how about your wallet? Would cash be a motivator for losing weight?

The bet dieting trend has taken hold in the U.K.. Dieters set the amount they think they can lose by a certain date (or dates); if they don't make their goal, money is subtracted from their account and donated to a charity of their choice.

The trend has actually been in the U.S. for a while now. One staked service is stickK.com. You can sign up for a free account, set your goal and then make a commitment contract where you set your own stakes. On weeks when you don't meet your set goals, you can opt to donate money to a charity you support or to a friend. For added incentive, you can even choose to donate money to a foe or to a charity with goals you oppose. If the money thing isn't for you, you also have the option to set non-staked goals. According to the sticK website, a commitment contract can more than triple your chances of success.

Incentives (and money is a big one) have long been considered excellent motivators for health goals. But it can be a slippery slope. If a bet or money encourages you to meet your weight loss goals, that's great. But there's a fine line between motivating and demotivating.

The weight loss journey isn't a straight path; plateaus and small setbacks are an expected part of the process. If you're going to set milestones for your weight loss progress, be sure to be reasonable. You might drop four or more pounds in your first week, but it's unlikely that you'll keep that pace the whole time. Don't set unreasonable milestones that will ultimately leave you feeling disappointed. The stickK.com website suggests a one-pound-per-week goal (though you can modify it to whatever you want).

Would placing stakes on your weight loss efforts motivate you?