Losing Weight with Bets

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Since returning from Thailand in November I have regained almost 10 pounds of the over 18 pounds I lost while in Thailand. Since returning to the U.S. I have been indulging in fast food, junk food, and Dr Pepper a little lot too often. I have a goal of getting to an under 25 BMI this year. That isn’t going to happen if I’m gaining weight rather than losing weight. I’m sure I’ll lose weight when I return to Thailand, but to reach my goal I need to be losing weight now.

To get myself back on track, I decided I needed a little extra motivation to start losing weight again. I know from prior experience that I can lose weight when I eat better and exercise. I just need to actually do those things. Long time readers may remember that I lost 30 pounds in 6 months a few years ago. That was accomplished by betting $3000 with HealthyWage. The fear of losing $3000 was enough to make me get serious about losing weight. The reward of winning a few hundred dollars for making my goal also provided motivation.

Since betting on myself to lose weight has worked in the past I am now trying it again. HealthyWage has a policy that to make a second wager with them you must be at or below your weight at the end of the first wager. Since I’m still a few pounds away from that, I am using DietBet to help motivate me to lose weight right now. I’ll do a bet with Healthy Wage later this year.

At DietBet I am doing what they call the Kickstarter Challenge, where the goal is to lose 4% of your body weight in 4 weeks. DietBet has smaller bets so I’m participating in 3 different games. They are for a $25 bet, $30 bet, and a $100 bet. The combined total should provide me with enough motivation to lose the weight.

Update: It is now 3 weeks into my DietBets and I still need to lose 4 pounds to win my bets. I lost quite a bit of weight the first week and then got lazy thinking it would be easy to win the bets. After not paying attention to my eating and exercise I gained some of that initial weight loss back. This last week I need to be completely committed to eating properly and exercising regularly. It will be a challenge to lose the remaining weight. If I didn’t have $155 on the line I’d probably give up. With the extra motivation of wanting to avoid losing my money I’ll be trying hard this week. Ideally, after getting in the habit of eating better and exercising regularly this week those activities will continue after the bets are over.

Want to get in on the “dieting for dollars” craze and up your potential for weight loss success? Bet on yourself and start your HealthyWager today. Then lose the weight and get paid, simple as that!

This post contains affiliate links to Healthy Wage and I may be paid a commission for sales at no cost to you. I personally used Healthy Wage and would not recommend them if I didn’t think it’s a great service.

January Expenses – $975.67

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Here is a breakdown of my expenses for January.

Household$1.02
Rent$257.23
Entertainment$83.16
Transportation$36.65
Food$97.78
Travel$69.59
Phone$28.27
Student Loan$132.58
Health$269.39
Total$975.67

My January expenses were very low. I managed to get my expenses under my target of $1000 for the month.

Rent was low because I’m paying my mom’s utility bill as rent while I’m staying with her. This will probably be about $100 higher this month since it has been much colder since the end of the last billing period.

Transportation was for one tank of gas for my car. I also received a gas gift card for Christmas that got me most of another tank. Living in a small town and working at home I don’t use much gas. In January I drove to KC and back once and to Springfield and back twice. This month I won’t be going to KC so I should use even less gas. I should only have to get gas once this month. Since I won’t have any free gas this month the total expense will remain about the same.

My food expense went down quite a bit. It isn’t as good as it seems since my mom provided me with a lot of meals at home. My food expense was mostly for fast food and junk food snacks. I’m going to eat better this month so this expense will go down significantly.

Travel was for my Thai Visa application fee plus visa photos and postage to send the application to Chicago and to get my passport returned to me. I was going to wait until this month to get the Thai Visa. Since my expenses for January were so low I decided to go ahead and get the visa done. Applying for the visa here allows me to get a 60 day visa rather than the 30 day visa they issue upon arrival.

Phone was for one month of Google Fi phone service. This is about what my phone bill will be for the next few months. If you sign up for Google Fi through my referral link we will each get $20 Fi credit after your account has been active for 30 days.

Health was for the February premium on my health insurance plus an eye exam and a dental visit. I also had a doctor visit and 90 day refills for 2 different medicines which didn’t cost me anything out of pocket. This month my only health expense should be my health insurance premium so this expense will be cut in half.

My entertainment expense should go way down this month. I may go to the movies once to use up a gift card. The gift card should almost cover my admission. If I don’t get popcorn the movie visit will be very cheap. I also pay $1 a month for Hulu which I got super cheap as a Black Friday deal. If I stick to just those expenses I should have an entertainment expense of under $10 this month.

January was a low expense month and I think February will be even cheaper.  How was your month?

2018 Review and 2019 Plans

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Before I write about my 2019 plans I want to review my 2018 plans. In 2018 I didn’t make any New Year’s resolutions or specific goals for the year I just shared some things I planned to accomplish during the year. The three things I planned to accomplish during 2018 were to save/make money, finish hiking the Appalachian Trail, and lose weight.

I did not finish hiking the AT. I spent a couple of weeks hiking on the trail and didn’t complete much mileage. I wasn’t able to get in a consistent hiking groove so I decided to return home rather than keep hiking. I”d still like to finish the AT, but it isn’t a priority so I’m not making it a goal right now.

I did accomplish the goal of saving/making more money. My total earnings were actually a little lower in 2018. However, the more important goal of saving more money was accomplished. I put over $11,000 in my company 401k, $6500 in my IRA, $400 in my solo 401k, and also invested about $2k in dividend stocks. That was well over 50% of my after-tax income. I’m considering this plan/goal a win.

My third and final plan was to lose weight. The first half of the year I actually gained weight. The plan was not going well. After I moved to Thailand I made great progress losing weight. I started 2018 at 230.2 pounds, went all the way up to 234.6 pounds, before eventually getting all the way down to 206.4 pounds. I didn’t set a specific amount of weight to lose. I think losing 23.8 pounds qualifies as losing weight and consider that plan accomplished.

In summary, I accomplished 2 of my 3 goals last year. As Meat Loaf says, “2 out of 3 ain’t bad“, so I’m satisfied with those results.

This year I am going to make my goals a little bit harder. This year I intend to focus more on actions rather than end results. For example, I can’t completely control whether I lose 30 pounds. However, I can control how often I exercise and whether I drink soda. If I follow my actions I’ll probably reach my goal. Even if I don’t reach the goal I’ll make good progress and developed good habits.

I’m sharing some of my goals now and I’ll make further goals once I’m in Thailand and have ample free time to get things done.

My first goal is to be able to do 1 chin-up. I haven’t been able to do a chin-up since I was 21. That is 30 years ago so being able to do a chin-up would be a pretty big accomplishment. This is a repeat goal from a couple of years ago. I didn’t make much progress on it then. I’m bringing back the goal since my brother left behind one of those pull-up bars that hang over a doorway at my mom’s house. I’ve been using it several times a day and can tell I’m getting closer to being able to do a chin-up. I can now do 1 band-assisted chin-up and can lift myself up several inches without the band. Last year when I first tried to do a chin-up I couldn’t even lift myself off the ground so this is good progress. If I continue to use the pull-up bar several times a day and lose weight (see next goal) I’m certain I’ll accomplish my goal of doing a chin-up.

My second goal is to get down to a BMI of 24.9. That would put me in the normal range for BMI. Last year I managed to get my BMI down to 29.9 and below which put me in the overweight range rather than the obese range I had been in for several years. I have gained some weight back and now have a 30 BMI putting me back in the obese range. That means this year I need to go from obese to normal weight. To accomplish that I am going to resume my intermittent fasting. I got out of the habit once I returned to the U.S. Intermittent fasting consistently will help me lose weight. The big thing I’m going to do to lose weight is stop drinking Dr Pepper. Soda makes up a big portion of my calorie intake. Giving up Dr Pepper will be difficult, but I know it will help a lot in losing weight. The last thing I’m going to do is make sure I exercise at least a little every day. I bought a jump rope and am using it for a few minutes several times a day. It isn’t much, but I do think it will help.

I’m also going to set some goals for this blog. I will flesh those out once I’m in Thailand. The goals will involve writing more, improving SEO, and figuring out ways to make more money from the blog.

That is all my goals for now. I’ll add more goals during the year. Working at my tax job and then my trip to Thailand will take up the first half of the year. I’m unsure what I want to do for the second half of the year. Once I figure that out I can set more goals that will work with my plans for the second half of the year.

2018 Annual Expenses – $17,443

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My annual expenses in 2018 were almost $4000 higher than my annual expenses of $13,697 in 2017. My annual expenses for the past few years were $16,431 in 2016, $16,999 in 2015 and $15,775 in 2014. That makes 2018 my highest spending year of the past few years. I’m hoping I will be able to reduce my expenses this year a bit. I do have some travel and dental expenses planned that will make it difficult to reduce my expenses much this year.

My total expenses for 2018 do not include the $4105 I paid on my student loan. Since those were voluntary payments that I was not required I consider them to be more in the nature of savings then an expenditure. This year I am required to make $132 monthly payments on my student loan. Those required payments will be included in my expenses for 2019 which will make it tougher to keep my 2019 expenses lower than my 2018 expenses.

My biggest expense for the year was $4655 for rent. That was a fair bit lower than the $5490 I paid for rent in 2017. This year I expect my rent to be even lower. I’m paying a very low rent while staying at my mom’s house. When I’m in Thailand I’ll have a very low rent there as well.

My second biggest expense was $4861 for medical, dental, and medicine. This was way more than I paid in 2017 and is the main reason my total 2018 expenses were quite a bit than my 2017 expenses. I’m hoping to lower this expense in 2019. However, I have a $130 monthly health insurance premium this year compared to a $0 monthly premium for most of 2018. I also need to get my dental bridge redone and probably get a dental implant. With all of that my 2019 expenses probably won’t be much lower than in 2018.

My household expense for 2018 was $477. This category includes things like clothing, utilities, gifts, and anything I buy that doesn’t fit in one of the other categories. I expect this category to be about the same in 2019. I rarely buy clothes, I don’t currently have a utility expense, and I don’t buy much random stuff so this expense doesn’t add up to much.

I spent $317 for the year for phone service. That works out to about $26.41 a month. I expect this expense to stay about the same this year unless I have to buy a new phone. The battery in my current phone seems to be losing power quickly so I might go ahead and replace my phone this year. Even if I get a new phone I don’t expect this expense to go up much.

I spent $2352 on transportation expenses for 2018. That included $770 for maintenance, $831 for gas, and $750 for insurance, registration, a speeding ticket, and other miscellaneous car expenses. Barring a major repair this expense should come down quite a bit this year. Since I’m working from home I’ll be spending very little on gas and when I’m in Thailand I won’t be spending anything on gas.

I spent $2084 on food in 2018 compared to $1957 in 2017. Many people would consider this a low total already, but I think I can reduce this quite a bit. I spent $547 on groceries and $1537 on dining out in 2018. If I can reduce the dining out and eat at home more often this expense will go down. Also, since I’m still about 45 pounds overweight I need to eat less food in general. Less food eaten should equal less money spent.

I spent $1707 on travel last year compared to $1057 in 2017. My travel consisted of a two-week hiking trip and a two and a half month trip to Thailand which included three-day stay in Kuala Lumpur, Malaysia as well. The trips included numerous hotel nights, a train ride from KC to Massachusetts, a one-way car rental from NY to KC, round trip airfare from Los Angeles to Asia, round trip airfare from KC to LA, a business class ticket from Kuala Lumpur to Bangkok, travel visas and other miscellaneous travel expenses. For that amount of travel I think this expense was pretty low. Just the round-trip ticket from the U.S. to Asia could have cost $1700 if I didn’t plan ahead and use credit card rewards.

This year I will probably spend about the same on travel. I’ve already purchased a round-trip ticket from the U.S. to Shanghai, China and a round-trip ticket from Shanghai to Bangkok. I’ll be in Thailand for about 2 1/2 months. If it is financially viable I will take a second trip to Thailand later in the year.

Other expenses were $91.36 for fitness, $584 for movies, and $308 for entertainment. The total of those expenses should be about the same this year. I plan to spend less on movies which will probably be offset by spending more on entertainment.

That covers all of my expenses for 2018. If you have any questions about what I spent on certain categories of expenses or are wondering where some expenses are feel free to ask questions in the comments.

December Income – $1810.41

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Here is a breakdown of my income for December.

Interest $5.10
Amazon FBA $145.28
Job $1437.71
Mystery Shops $4.84
Uber $11.19
Dividends $12.69
Online Income $193.6
Total $1810.41

December’s income was decent. The income was mostly from a couple weeks pay from a document review project. I did make a little from other sources. Job income remains my biggest source of income. I’ve got a long way to go before I can pay my expenses from non-job income.

Online income did finally come back a little. This blog didn’t make a lot of money last year. I’d like to change that this year.

My dividend income reached double digits for the first time. A lot of my stocks paid dividends in December. Not as many pay dividends in January so the dividend income will be down this month. I’m purchasing more dividend stocks as I have extra money to invest. At my current rate it will take a long time before I can go from double digits to triple digits.

I have started my tax job.  With the way the paychecks fall I will only get one paycheck from them this month. I also will have three day’s pay from the document review project. That should result in this month’s income being very close to December’s income. I’m hoping it will be just a tad higher. Since I will be returning to Thailand as soon as the tax season is over I need to make and save as much money as I can the next 3 1/2 months.