A Financial Incentive
When the ball dropped on the 31st, most people resolved to lost weight or save money. Why not both?
Hana Bank in South Korea has a new account that can help with two of the hardest habits for people to stick to; slimming down while bulking up your bank account. The program is called “S-line,” a Korean word that means an hourglass figure. The desired shape of most people. Once you sign up for the account you hit the gym. The more calories you burn the higher interest rate the bank will give you. If a customer loses more than 5% of their weight within the year, or holds a gym membership the bank will grant special rates.
So far the high interest savings accounts have brought in about $400 million from 50,000 customers.
Other banks with similar accounts have different tactics. Woori Bank sells a bicycle deposit. This allows clients to benefit from riding their bike to work for exercise. The bank also provides free bicycle insurance. So how about we try the idea here. The Federal Reserve Bank will reward Congress with lower interest rates if politicians cut the fat in government spending.