Should Meg focus on losing weight or saving money?
Two New Year's resolutions I made were to lose weight and improve my savings/debt payment situation. I am finding that working on both means that I don't give either the focus that I need to. So, I am trying to decide which I need to tackle first.
Money issue
My husband and I have some credit card debt (nothing major), a car loan, student loan debt, and a mortgage. We used most of our savings to put a down payment on our home, so we are slowly trying to rebuild that cushion. We can get all debts (minus mortgage) paid off by the end of 2011 if we stick with the current payment plan, and also have ~$20K saved. I'd like to focus on saving more, spending less, and changing our spending habits (we still eat out too much, for example). If we worked at it, my hubby and I could do better.Weight issue
I've gained 30 lbs since I began taking a prescribed medication (weight gain is an established side-effect). Research shows that the medication also makes weight loss more difficult, and even impossible in some cases (going off medication is NOT an option). My doctor said that she'd like me to lose 20 to 40 lbs. because of some chronic, unrelated back problems that I have. With 20lbs of weight loss I would definitely feel better about myself and my body. That said, the weight loss will take up a lot of time (I don't go to the gym very often right now, so that would be a big chunk of time out of my day) and a more aggressive diet (one where I am eating veggies and fish) may actually end up costing me more than what I eat currently. I have lost a few pounds, but keeping them off has been hard.
Polls Close: Friday, May 15, 2009
Have ideas on how Meg could accomplish either? Please let her know by leaving a comment!
Update: Meg ended up focusing on both!
May 1st, 2009 - 20:19
Here’s my rationale for voting for focusing on weight loss.
1. If you don’t have your health, then enjoying your savings becomes almost pointless.
2. I know you well enough to know that you won’t ever really slack on following through on either resolution.
3. Really, your health is more important, plus you’ve made tons of head way on savings even just looking a few years back.
4. Making time to get to the gym is a passive barrier. You’ll find the time if you make it important to you. (I type this as I fully acknowledge that I haven’t made the time to get to the gym either).
5. Losing weight/eating healthy doesn’t need to cost more than your current meal costs. Start shopping at Asian grocery stores and you’ll save a boatload on groceries. Also, with the temperature getting better, it makes hiking (usually free) a lot easier to do.
6. [This one doesn't really support my rationale but...] Take the money you currently spend on eating out and redirect it to the gym. Short term, you redirect eating out costs to the gym. Longer term, once you’ve maintained weight lost and a healthy lifestyle, you end up continuing to save by not eating out.
May 2nd, 2009 - 16:21
If you can have financial situation improved and spending under control, you will feel much happier. This will eliminate the need to go for food for comfort. The side benefit will be weight loss.
What I suggest is working on the financial issue will have the side benefit of losing weight.
If you work on the weight issue first, the financial issue may lead you to look for food for comfort. this will make weight control issue issue less effective.
May 3rd, 2009 - 14:10
stop spending money on food
May 3rd, 2009 - 17:58
I don’t think these are mutually exclusive. Both can be done.
May 6th, 2009 - 10:01
Any suggestions on how to manage both at the same time?
May 6th, 2009 - 15:30
It’s not one or the other. You don’t need to spend a lot of money to loose weight. You don’t really need anything other then a gym membership and some will power. Use http://www.fitday.com to track your calories, and think of what you buy at the grocery store.
I’ve lost about 40 lbs, and by precooking or planning most of my meals I know exactly what I’m going to eat and when I’m going to eat it. All my meals for a week cost about $40.