Do Your Finances Affect Your Health?
In case you need some reminding, Tax Day occurs this week. We often jokingly say that doing our taxes our taking care of our finances give is a headache or is a pain in the you-know-where but can your finances really make you sick? How does your financial health impact your body’s wellbeing? Let’s find out!
Your Health Is Your Wealth
One of the interesting things about your health and wealth is that each one can influence the other. It really is a two way street and if one is in a bad place, it’s very possible for the other to end up in a bad place too. Your financial state can affect your physical and emotional health and possibly in ways you never thought of.
Money & Stress
Two of the most common money-related health complaints professionals encounter are stress and anxiety caused by debt or money worries. In fact, approximately three quarters of all American families have experienced debt at some point. Others have financial concerns stemming from lack of job security, putting kids through school or paying medical bills. Often, people will be so consumed with their financial woes that they will not acknowledge or seek treatment for their stress or anxiety. If left unchecked, these mental strains could lead to:
- More debt or money concerns
- Heart attack
Even if they are not in debt, money may cause people to experience stress or anxiety. A fear that money will run out or a compulsion to earn and save for the future may also trigger mental health issues. People in this position are suffering no less than people with issues stemming from a lack of money. No one should have to suffer because of money. If you recognize these symptoms in you or a loved one, you should seek medical help soon and consider speaking with a financial advisor too.
The Cost of Bad Habits
Bad or unhealthy habits are one of the fastest ways to drain your bank account and damage your wellbeing. Some bad habits are luxuries that people with disposable incomes partake in. Other people feel forced in to bad habits because their financial situation will not afford them healthier options.
- Smoking cigarettes will cost you a very pretty penny, especially if you are a life-long smoker. Many illnesses in smokers could have been prevented if the person did not smoke. Similarly, a lot of the money spent on tobacco products could have been saved if the person did not smoke. In the long-term, the side effects of smoking will likely cause many smokers a substantial amount of money in healthcare and medical bills. Smoking is money wasted and could leave a person’s health and finances in dire straits.
- Drinking alcohol, like smoking, will also eat into your finances. Depending what you drink and where you are, a single drink could cost anywhere from $4 to $15. All those dollars add up! For a social drinker, as an experiment, a month of abstinence should leave them with more money in their bank account at the end of the month. Again, this is another costly bad habit that in the future could end up costing a person even more should they fall victim to an alcohol related illness.
Food, Health & Finances
The consumption of bad and unhealthy foods is more wide spread than smoking and alcohol; children and adults alike are guilty of this bad habit. But unlike smoking and drinking alcohol, many people feel like they have no choice but to buy these bad foods. There is a perception that healthy foods are more expensive than unhealthy foods and people on strict budgets or welfare end up living off these foods. The reality is that healthy food really isn’t any more expensive than unhealthy food. Most towns and cities will have a variety of grocery choices so people may need to shop around more to find food they can afford but it is doable. Eating bad food today may seem like the financially responsible choice but years down the line, a person may be suffering from diabetes, heart disease, obesity and other illnesses caused by an unhealthy diet. Paying for healthcare will cost a lot more in the long run than eating a healthy meal each day. There is also evidence to support that eating fiber rich foods (wholegrains, fruits, vegetables etc.) will keep a person full for longer and lessen their desire to snack. Snacks are just more money going down the drain!
When money is an issue today, it can be hard to think of tomorrow. It can be extra hard to consider a connection between your health and finances. It may take some planning and effort but a balanced check book and good money management skills can add years to your life and keep you and your family healthy.
Feeling better about your health or fitness shouldn’t be a chore. If you ever need some extra support, come by BEFIT to speak with one of our trainers or simply fill out a Free Consultation Request by clicking the link and a fitness professional will reach out to you within 24 hours.