Most people know that money can affect health. This is a simple inference that does not need any technical or scientific knowledge. If you do not have enough money you will not be able to get the required treatment process simply because of the cost factor. It is for this reason that most people who live in a very low income and cannot even afford health insurance often skip medical attention.
The best way to tackle this issue is to follow the three golden rules that are:
- Save more
- Spend less and
- Exercise regularly.
These often seem like the most common New Year’s resolutions that people pledge to follow the next 12 months but given by the end of February.
However, the contrary is also true no matter how surprising it may sound to you and that is healthy can also affect your money. A little explanation will make things clear to you.
This fact is proven and also makes a perfect sense and it is corroborated by a bevy of research. According to the findings of such research, if you are healthy your financial shape and health will also be good as well.
- A recent study by the Olin Business School at Washington University in St. Louis found that those people that have an eye on their future and contribute to a 401(k) are more likely to take proper care and follow all necessary steps to improve the condition of their health and retain it as well.
- Another study by Duke University found that when people have a low credit score it could lead to an increased risk of cardiovascular diseases.
These facts and findings suggest that if you are not living or spending healthily it is time that you turn around, give it a thought and make the necessary changes in your habits for a better and healthier future, both physically as well as financially.
It is true that having enough money will take away your worries about household expenses or your debts as well. You will not need to look frantically for alternative ways to get rid of your debts such as debt consolidation or debt settlement and when you go through the debt consolidation and debt settlement reviews you find that both has its characteristic impact on your credit. You will be saved from all such negative consequences.
Health and money effects
The healthy or unhealthy effect of health on your money is not necessarily due to poor diet or lack of exercise that leads to your poor financial choices. It is rather the skill set that a person possesses to manage their health better who are more likely to possess the desired set of skills to manage their finances in a better way as well.
If you want to refine these skills as well, you will have to know about the key aspects of your health that may influence your money.
- Sleep and money: The amount of sleep you get at night may affect your finance. There is a distinct influence of science, especially biological science regarding this matter. If you remember your college life especially during the midterms when you were awake the whole night to study you will know that it has the same effect now on your health. At that time you felt woozy before you crashed. This is because according to scientific research spending sleepless nights and days typically makes a person feel having a blood-alcohol level of .1% to .02% more than the permissible limit for drunk driving. Therefore, if you get no more than four or five hours of sleep a night consistently, it will affect your decisionmaking skills negatively and this may have serious implications for your money.
- Diet and money: Your diet can also affect your financial health as well. Eating restaurant meals often is a mark of poor nutrition and will result in obesity, excess body fat and unhealthy Body Mass Index. Moreover, eating out too often can also wreak havoc on your finance. Eating high-fat meals continuously affects your cognitive abilities and may also result in short-term memory loss, low levels of brain function and others that will result in more of an impulse buy making it difficult to manage your checkbook and maintain good financial health.
- Exercise and finance: Though exercising on a daily basis is not an easy feat to achieve but if you skip this you will have to sacrifice much more than a smaller size pant. With regular exercise, you get more energy that helps your brain to function better. This, in turn, sharpens your memory that in turn will boost your cognitive ability. On the other hand, if you do not exercise you will not only have a substantial disadvantage at work in comparison to your more active colleagues but you will also lack the positive attitude to tackle your finances head-on.
- Stress and money: Poor health conditions will lead to a lot of stress and it will not only demotivate at your work but will also affect your outlook regarding your life and finances as well. You will face a lot of difficulties to get things done that will lead to decreased productivity and in turn a lower level of income. Surprisingly, stress can also take a toll on your finance as this will lead to both stress-eating as well as stress-spending causing a significant dent in your wallet and savings. These kinds of stress effects and emotional expenses result in more problems than solutions
- Depression and money: Lastly, depression will creep in due to stress and overspending which will once again have a very serious and straightforward consequence on your finance. Depression is a factor that is found in most people especially who has crossed 50 years of age. They find it very difficult to manage their debts leave alone paying it off on time. They take wrong financial decisions and often end up finding them deeper inside the debt hole.
Therefore, it will not cost you much to stay healthy as compared to the cost of leading an unhealthy life. So, start today.