HealthyWage Review 2020: Does It Really Pay You to Lose Weight?Make Money Fast
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Losing weight can be difficult, although it’s never too late to start. But if you’re tired of paying for a gym membership you never use or setting goals you know you’ll never meet, it’s time for a change.
You need the right tools, resources, and motivation. HealthyWage is one tool that might help you meet your weight loss and fitness goals.
Based on studies showing financial incentives can aid weight loss, HealthyWage challenges you to meet your fitness goals and will pay you when you meet those goals.
There’s a catch of course: If you don’t meet your goals, you’ll lose money.
In our HealthyWage review, we’ll show you the program’s ins and outs and help you decide if it’s right for you.
The Basics of HealthyWage
HealthyWage allows you to bet on your potential weight loss success.
When you first sign up for HealthyWage, you’ll set personalized fitness goals and weight targets.
Then you’ll make a bet on whether or not you can meet those goals.
You have full control over how much you bet as well as whether you win or lose. This is why, even though the company uses words like “bet” and “wager,” legally it isn’t gambling.
You can pay your entire wager up front, or spread it out over several months. Either way, you commit to paying the entire wager amount, even if you quit the challenge.
The HealthyWage calculator is your first step in determining your fitness goal and how much you’re going to wager.
Using the calculator, you can adjust the variables to see how much you can earn if you meet your goals.
You can change information such as how much weight you want to lose, how long you need to reach your goal and how much you’re willing to wager each month.
For example, if you want to lose 30 pounds in 6 months and wager $20 per month, you can earn anywhere from $133 to $353 if you win the bet. Keep in mind, though, you will have paid in $120.
If you want to lose 100 pounds within 12 months and wager $50 per month, you can win $1,400 to $2,185 if you’re successful. Of that, you will have paid in $600.
After you’ve narrowed down your goal, timeframe and wager amount, you can continue with your user registration to find out exactly how much you’ll win for your bet.
Just enter information such as your sex, height, weight and waist size, then enter your login information to unlock your exact prize.
According to the stories on the HealthyWage site, some users have won thousands of dollars meeting their fitness goals.
However, the company’s founder, David Roddenberry, admits only 1 in 4 people who sign up on the site actually win their bets.
He believes everyone still benefits, though, because at the very least they will have spent 6 months or more working to improve their health.
When you set up your wager, you’ll need to enter a weight loss goal that’s at least 10% of your current weight in order to be eligible for a payout.
You can choose a challenge period of anywhere from 6 to 18 months.
The total amount wagered over the challenge period must be at least $100.
You can pay the entire wager up front, or pay monthly in any amount from a minimum of $5 per month to a maximum of $995.
In addition to the information you enter, HealthyWage also requires verification before and after the wager.
That involves uploading a video of your weigh-in at multiple intervals throughout the fitness challenge.
The challenge doesn’t begin until you’ve placed your wager and successfully verified your weight. Hold off on starting your weight-loss efforts until your post-wager weight has been verified. Otherwise, your results may not be accurate and you may not get a payout.
At the end of the challenge, simply upload another verification video and get paid if you met your goals.
If you don’t meet your goals by the end of your challenge period, you lose your wager and your money is used to help pay out future challenge winners.
If you don’t think you’ll be successful going it alone, you can join up to four other users to make a HealthyWage team.
Joining a team to meet your fitness goals can prove successful. Having your teammates counting on you provides additional motivation to meet your goals.
Plus, teams can compete against each other and win additional prizes worth as much as $10,000.
You can create your own team with friends, family and co-workers, or you can join an already existing team through the HealthyWage site to connect with others on their fitness journeys.
In addition to your personal fitness goals, HealthyWage sets community challenges with the opportunity to earn even more when you complete those challenges.
These challenges involve corporate challenges with your co-workers, as well as team challenges that can net up to $10,000.
You are limited to one individual challenge at a time, but you can participate in up to 10 community and team challenges at a time.
Making Money With HealthyWage
It’s important to note the cash payout is not going to be the same for everyone, even for those with similar goals.
The HealthyWage algorithm considers all factors, including weight loss goals, timeframe, wager, sex, height, weight and waist size when determining the exact amount for the payout.
This formula is always changing, so the amount is going to be different from person to person and goal to goal.
Once you go through registration, set your goal and enter your information, your cash payout is locked in based on your information.
You’ll have 30 days to make any adjustments to your weight loss goal, wager or length of challenge. After 30 days the terms are set and can’t be changed.
If at the end of your challenge period you find you need more time, you can extend it for another 6 months. You’ll pay additional installments on those months, but your prize money and weight goal won’t change.
Refer Friends and Family
If you want your friends and family to join you on your fitness journey, you’ll get paid for every successful referral.
When you have your friends, family, and co-workers sign up using your unique referral link, HealthyWage pays you $40.
With enough referrals, that referral bonus can add up quickly.
Is HealthyWage a Scam?
HealthyWage has been in business for almost 10 years, and the company says it has helped thousands of users lose weight and meet their fitness goals.
According to the company, the average winnings for those who meet their goals is over $1,300.
In fact, there have been multiple users that have won well over $5,000. Prizes top out at $10,000.
The company partners with advertisers, government entities and large corporations to generate revenue and ensure bet payouts.
Schemes that tempt you with financial incentives for exercise and weight loss, including HealthyWage, certainly have their critics. But those with negative views of HealthyWage are concerned that it may not be an effective way to lose weight or maintain weight loss.
They don’t suggest it’s a scam or that you won’t reap the promised prizes if you meet your goals. They just doubt that you’ll meet those goals at all—and according to the company itself, they’re probably right.
HealthyWage has some strong reviews, which is promising for those that are looking for new ways to lose weight.
Is HealthyWage Right for Me?
HealthyWage can be uniquely motivational and work for multiple reasons.
First and foremost, when you have money on the line, you’ll be much more motivated to meet your goals.
Just as powerful as the monetary motivation is the motivation you’ll get from the HealthyWage community.
Whether you create a corporate team with co-workers or meet HealthyWage members by joining an existing team, HealthyWage fosters a tight-knit community that is just as motivating as money.
This solid support system is missing in some other fitness programs, especially if you’re going through those programs alone.
Even if you sign up for HealthyWage alone, you can connect with the thousands of HealthyWage members to get health tips and motivational support.
However, as with real gambling you shouldn’t bet more than you can afford to lose. If you fail to meet your weight loss goal—even if it’s for reasons beyond your control—you’ll lose your entire wager.
And once you’ve agreed to a wager you’ll be liable for the entire amount, even if you don’t—or can’t—complete the challenge. There are no refunds and no discounts.
Final Thoughts on Our HealthyWage Review
If you stick to your plan and meet or exceed your goals, you could walk away healthier and thousands of dollars richer.
As with any bet, there is certainly risk involved.
However, with the tools, resources, support and fun challenges, you may find it easier to reach your goals through HealthyWage than through other weight loss programs.
Do you know anyone who has used HealthyWage? Do you think HealthyWage would work for you?
Logan is a practicing CPA, Certified Student Loan Professional, and founder of Money Done Right, which he launched in July 2017. After spending nearly a decade in the corporate world helping big businesses save money, he launched his blog with the goal of helping everyday Americans earn, save, and invest more money. Learn more about Logan.