5 Ways Your Health Can Affect Your Money
According to many researches that have been carried out, health and wealth go hand in hand. In other words, better health can translate to a better financial shape.
But what I am talking about here is not the physical health but rather having the ability to manage your health in a better way would definitely translate to possessing the same skills in financial management.
In order to help you improve your health and financial management skills, we are looking into some essential health factors that greatly influence your finances.
Here are the 5 Ways Your Health Can Affect Your Money
#1 Sleep, Money and Insurance Rate
Deep sleep can help you to control high blood pressure, diabetics, and even heart problems. Life Insurance Guideline states that you can save around 5% on your insurance premium by sleeping well. It’s funny but true. Perfect sleep means a perfect health condition.
It is a common misconception that working for too many hours will bring in more money. This might appear to be the case from the face value but lack of sleep would be quite detrimental to your health and finances too.
It is very true that poor sleeping habits and less time dedicated to the same will affect your decision-making ability thus negatively affecting your finances.
Early bedtime and getting enough sleep is crucial with an average of 8 hours of sleep. Proper sleep hygiene also is crucial like avoiding background music and lit rooms.
If the 8 hours a night seem to be many, it is important to have a nap during the day even for 10 minutes.
Proper sleep can greatly increase memory and cognitive function which will improve your alertness thus capability to make smarter decisions regarding finances.
#2 Diet and Finance is Related
Poor nutrition leads to cases of obesity, unhealthy body mass indices and a lot of body fat. Eating too much of restaurant foods will, on the other hand, dent your pockets a great deal. Eating at home is relatively cheaper which ensures maximizing savings.
This, however, tends to be the daily norm for office workers who lack the time to cook real food.
The high-fat content in restaurant food will affect your cognitive abilities resulting in memory lapses. Whatever you give your body can either affect your health positively or negatively.
Avoiding spending money on restaurants, eating healthy nutritious foods and avoid junk. These might seem as simple tricks but will eventually help in advancing your finances
#3 Exercise Improves Productivity
Regular workouts are signs of self-discipline and prove that you can set limits for yourself.
It doesn’t matter whether you hit the road for jogging or simply skip the rope on a daily basis, the end result will be built confidence and boosted memory to make better financial decisions.
Workouts should however not be eating into your finances like enrolling for the gym.
Just sacrifice as little as 30 minutes daily for simple exercise like walking, skipping the rope and cycling and your account will gradually but steadily see some growth.
#4 Stress Hampers Your Money
Many people are reported to be suffering from stress these days basically due to the high demands in our lifestyles among other factors. What stress does is seriously affect your physical and mental health, read this.
All these can translate to production and you realize that it is drastically reducing thus affecting your income and finances in the bank account.
Rather than trying some crazy things that will make the situation even worse, seek to find the right things that will help get rid of stress without costing a dime.
For instance, workouts, walking and watching your favorite show will help reduce the stress that may be distracting you from your financial goals.
You can also try to share your stress with loved ones to make yourself feel better finding better and healthy ways of dealing with your stress will help a great deal in getting yourself on focus to your financial growth.
De-cluttering is another perfect stress reliever which looks into organizing your space and getting everything in place.
The same thing applied in your real life schedule would mean a lot in the sense that all activities are re-arranged and the unfulfilling or unnecessary done away with as you concentrate only on the fulfilling activities.
#5 Depression Can Affect Your Work
Stress and depression are serious mental illnesses that can greatly affect your health and financial well being. Many people under depression tend to have expenditures that really don’t matter in the effort to make themselves feel better.
Overspending is a great enemy to financial growth. With depression, the mind is distracted and possible to make the wrong financial decisions. Debts are usually associated with depression and for real this affects not only your life by your well being in general including financially.
If your depression is as a result of debts, always stay focused to clear the debts by ranking them in order of highest interest rate as you repay them from the top to the lowest interest rate debt.
Becoming debt free is the only way you can have your financial freedom back and be able to make worthy investments for your future.
Your physical and mental health is crucial in determining your financial growth. With proper physical and mental health, you will be able to face your financial problems boldly and making the right decisions that will help in preventing various monetary problems.