The need to have a healthy body and mind should come without saying. We should all pay attention to maintaining our health on top. However, it’s challenging to do so when your life is a series of unhealthy lifestyle choices such as what you eat, how much you work out, and how you take care of your mental health.
Moreover, apart from the need to be healthy in order to be able to enjoy your life to the fullest, it is also mandatory in order to have financial stability. Your overall health has a stronger connection with your finances than you would ever imagine. Here are 5 ways in which your mental and physical health can impact your finances:
- Good health helps you avoid medical bills
Let’s start with the most obvious way in which having good health helps you maintain your financial stability: avoiding medical bills. It’s common sense that when you are feeling good and well, there is no need to visit your doctor, take pills, or pay for medical services.
Huge medical bills can make you go bankrupt, especially if you don’t have good health insurance. However, if you maintain your health on top, medical bills won’t leave a hole in your budget. Plus, being healthy is associated with a significantly lower risk of early death and health conditions. Thus, it just also makes sense that you pay less for your life insurance.
2. Poor mental health leads to poor financial decisions
Nowadays, mental health is a very popular topic. Everybody talks about the importance of removing negativity and stress from your life in order to achieve balance and gratefulness. In fact, having good mental health is essential to enjoy the beautifulness of your everyday life.
But, there is one more strong reason for which you should pay attention to your mental wellbeing: it helps you make good financial decisions. Mental conditions such as depression, anxiety, and even high levels of stress can cloud your mind and make you make poor financial decisions. Mental clarity has a huge impact on your decision-making skills when it comes to your finances. For example, some people find remedy in spending their money on new items when they have a poor mental state. You must be familiar with the scenario when you are feeling low and you go shopping to relax.
Also, suffering from a mental health condition such as depression or anxiety makes you make poor financial decisions in terms of spending your money on things that are not necessarily a priority. With a clouded mind, it is difficult to have a budget and stick to it.
3. Your eating habits affect your finances
You know what they are saying, an apple a day keeps the doctor away. And although it is just a metaphor, it is extremely true. What you eat highly affects your physical and mental health. If you have poor eating habits such as eating junk food or unhealthy snacks, you are dealing with an increased risk of developing health condition such as heart disease or diabetes. Junk food contains many calories and lacks the necessary nutrients and vitamins for a healthy body. Ultimately, poor health leads to various medical expenses that can leave a hole in your budget.
Also, another eating habit that can have a huge impact on your wallet is eating out too often. Anyone who eats at restaurants on a daily basis can attest that dining out can be extremely expensive. The food you would purchase from the supermarket and prepare at home will cost you twice less than eating at restaurants or fast foods.
4. Taking naps helps you make better money decisions
Why sleep has such a huge impact on your finances should be easy to understand. Think about the nights you couldn’t get any rest and how you felt and were able to perform the next day.
You most probably felt grumpy, out of focus, and unable to perform at your best. That’s because sleep is essential for our brain and body to recover from the difficulties that we have faced the previous days. Thus, the lack of sleep is another factor that can contribute to poor money decision-making.
According to numerous medical studies, lack of sleep can make you perform as if you had a blood-alcohol level od .1%-.02% and this value is actually more than the legal limit for driving under the influence of alcohol. Thus, it shouldn’t come as a surprise that your brain won’t be able to make good financial decisions.
Lack of sleep also has a huge impact on your mental wellbeing. It can lead to the increased risk of developing mental conditions such as depression and anxiety which we have already explained what can do to your money decisions.
5. Being healthy means a successful longer career
Think about the time you had to go to work when you were having a huge headache or a cold. Were you able to perform at your best and focus on your job tasks? Most probably no, because your body was suffering and prevent you from performing at optimal levels.
When you are healthy, you are able to work longer and more efficient because you can focus on what you have to do. Thus, it is obvious how being healthy helps you have a more successful career.
However, taking care of your health in your youth and adulthood is also essential to have a longer career. When you are healthy, the risks to develop health conditions as you get old are significantly lower. Thus, you won’t have to abandon your career due to a health condition once you become a senior. Moreover, if you are in good health and still feel strong enough, you may even be able to take a second job after your retirement which will bring you an extra income.
A healthy mind and a healthy body are essential for financial health. It will help you avoid medical bills, have a clear mind when making financial decisions, and have a longer career.