Ever wonder why weight loss and fitness programs like The Biggest Loser are so popular? The answer lies in the prize. According to a study conducted by the Mayo Clinic in Rochester, Minnesota, money may actually increase a person’s willpower to lose weight more than the health benefits themselves.

The study, posted on TIME, had Mayo Clinic employees participate in a contest. The chance to win $20 a month for losing weight and additional rules to the contest made this study the longest of its kind; a year later, participants were still eager and willing to lose weight.

A hundred obese employees participated in the program. Half were given weight-loss counseling, monthly weigh-ins and three-month gym memberships. The other half had all these plus a financial incentive. The financial motivator had a few rules: if they failed to reach the four-pounds-a-month weight loss quota, they would need to pay $20. If they reached the quota, they were given a voucher for $20 to be claimed at the end of the study. Part of the collected penalties were used to pay off the winners, the rest were put in a pot, to be raffled off to all participants, whether they reached their quota or not.

The results of the study were quite significant. The financial incentive group lost an average of nine pounds versus the other group’s 2.3 pounds.

So if you’re looking to lose weight, why not make it a project for you and your officemates? Hold a weight loss contest patterned after The Biggest Loser. This won’t only wake your your competitive spirit, but you also have the possibility of winning a nice prize if you get to exceed your weight loss goals.

(Photo by davidd via Flickr Creative Commons)