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Money Girl

329 MG 3 Fitness Tax Breaks to Save You Money

Money Girl

Macmillan Holdings, LLC

How To, Investing, Education, Entrepreneurship, Business

4.61.8K Ratings

🗓️ 2 October 2013

⏱️ 8 minutes

🧾️ Download transcript

Summary

Find out how to save money while getting fit. Get the Money Girl book at http://MoneyGirlBook.com

Hosted on Acast. See acast.com/privacy for more information.

Transcript

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0:00.0

Hi friends. Thanks for downloading the Money Girl Podcast. I'm Laura Adams.

0:09.0

A Money Girl Podcasts

0:12.0

A Money Girl Podcast listener named John asks,

0:16.4

after listening to your recent show about Obamacare,

0:19.4

I want to know what tax breaks are available for living a healthy lifestyle. Is it possible to save money

0:25.4

while getting fit?

0:27.4

Getting fit is an important goal that improves your life in so many ways.

0:31.5

Feeling better and looking better can actually help you earn more. In this

0:34.9

episode I'll show you how to also save more money by using fitness-related tax breaks.

0:52.0

Obesity is one of the most problematic public health concerns in the United States today. About 70% of adults and over 30% of children are either overweight or obese.

0:59.0

They face an increased risk of developing a host of serious health problems, like hypertension, diabetes, and heart

1:06.0

disease. If you're obese, statistics show that you'll pay 42% more in medical costs than someone of normal weight.

1:14.0

Plus, programs like Medicare and Medicaid

1:17.0

spend about 10% more of our taxes to treat overweight patients.

1:21.0

Minorities and those with low income,

1:25.1

especially children from low income families,

1:27.7

suffer the most from the high cost of obesity.

1:31.0

For these reasons, John's question about financial incentives to encourage fitness is a really good one.

1:38.0

Unfortunately, few proposals have been introduced to encourage healthier habits through tax breaks.

1:45.6

There are more health sticks than carrots, such as sin taxes and fat taxes on cigarettes, alcohol, and unhealthy food,

1:54.4

these taxes are designed to make us avoid potentially harmful behavior in the first place.

1:59.6

However, here are three main ways that you can still use tax breaks to save money while adopting a healthier lifestyle.

...

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