The Financial Cost of being Overweight
Individuals who struggle with obesity or being overweight not only suffer physically but financially as well.
Annual Cost of Being Severely Overweight
The financial costs of obesity include medical, disability and even lost productivity. The price tag for severely overweight or obese individuals can come to over $2,500 per year, and nearly double that cost for obese women, who rack up close to $5,000 in costs annually. Some may not realize the impact of such a price tag over one year, so consider this: Investing that much money on a yearly basis over 40 years of work would net a comfortable retirement fund of $700,000 for men and over $1 million for women.
So what exactly is the difference between being overweight and obese? It comes down to an individual’s BMI (Body Mass Index), or a measure of body fat based on height and weight. Overweight individuals have a BMI of 25-29, and overweight individuals have a BMI of 30 or higher.
Health Problems Often Lead to Wallet Problems
Being severely overweight causes health problems such as diabetes, heart and blood pressure problems, muscle, bone and joint problems. More health problems mean more trips to doctors and specialists, and more treatments and medications, which can add up and wreak havoc on your wallet.
Increased health problems caused by obesity and being overweight can also have a dramatic, negative impact on work productivity. People who are overweight or obese miss one to five more workdays on average per year due to illness or injury than individuals at a healthy weight. Overweight individuals also have higher disability rates, earlier retirement and lost wages.
There are several other financial costs that can sneak up on overweight individuals including travel costs. It costs more for a seat on an airplane, as the majority of airlines will require obese or severely overweight passengers to purchase two seats instead of one. Daily transportation by car can also affect your wallet if you are overweight, as you may find yourself needing a larger, thus more expensive, vehicle in which you can sit comfortably. Even gas costs will increase up to $40 per year or even more, as any excessive weight will require more gas to accelerate your vehicle.
Other everyday costs that can increase for overweight individuals include food bills, clothing bills for special, larger sized pieces, and various therapies.
If you find yourself in debt or struggling to pay medical bills for any reason, the professionals at Advantage CCS can help. Together, you and your credit counselor can look at your monthly income and expenses to come up with a financial plan that is right for you and your situation. Contact us today!