There is a strong correlation between the amount of money people have and their health. People who are proactive about their health tend to be more financially secure. Healthy people tend to be happier and more likely to spend time on their finances.
A study conducted by Washington University in St. Louis found that forward-looking people who contributed to a retirement plan were more likely to take action to improve their health. People who have the skills to manage their health usually have the skills to effectively manage their finances. Managing your health and finances takes planning and dedication.
There is a strong link between eating well and having good financial habits. If you don’t have the discipline to avoid eating junk food, you’re more likely to overspend. Self-control is the key to financial control and healthy eating. The secret to healthy eating is planning. When you’re unintentional, you’re more likely to eat unhealthy and spend more money.
Plan your meals in advance and cut down on dining out. Restaurant meals are higher in fat and significantly more expensive. Preparing healthy meals at home with less fat and processed foods can improve cognitive abilities, reduce sick days, increase productivity and reduce medical expenses.
Staying in shape and getting plenty of exercise also helps your finances by lowering your risk of heart disease, diabetes, certain cancers, strokes, and other costly illnesses. Many serious illnesses triggered or exacerbated by poor health are extremely costly. According to the American Diabetes Association, the average medical expenses associated with diabetes are $ 7,900 per year.
Exercise also leads to a positive attitude, increased energy, improved cognitive abilities, and better decision-making skills. This improves confidence, productivity and relationships at work, which translates into more opportunities and increased earning potential. The benefits of exercise also contribute to smarter financial decisions.
You should exercise for at least 30 minutes a day or 2.5 hours a week to fully experience your health benefits. It can be as easy as walking, biking, or strength training with your own weight. There is no need to invest in an expensive gym membership.
Good health also depends on getting enough sleep. According to the Sleep Foundation, we need seven to nine hours of sleep every night. If you get enough sleep, you have more energy and can make smarter, more thoughtful decisions. Getting adequate sleep also makes you happier, more productive, and more enjoyable to be around. Getting enough sleep requires planning; if you don’t get enough sleep, you may need to change your priorities.
When you are healthy, eat well, and are well rested, you are more focused and have greater motivation and the ability to effectively plan and organize your life. You need to plan for a healthy life and a secure financial future.
Jane Young is a Certified Paid Financial Planner. She can be contacted at [email protected]