The Interplay of a Healthy Lifestyle and Financial Prosperity

I know we all know we should strive to be healthy and we know the benefits that come along with it. I’m definitely not perfect in this area and continuously battle over staying healthy or eating that dessert. So maybe I’m writing this post to help myself be even more motivated to stay healthy. How often do you think about the financial impact your physical health can have on your finances? If you haven’t thought about it, I’m going to share how staying healthy can have several positive effects on your finances.

Lets start with the obvious ones:

• Reduced healthcare costs: One of the most significant financial benefits of staying healthy is the potential to reduce healthcare expenses. By maintaining a healthy lifestyle, you can lower the risk of chronic diseases, thereby decreasing the need for medical treatments, doctor visits, and prescription medications. This can lead to substantial savings in healthcare costs over time.
• Lower insurance premiums: When you maintain good health, you often present a lower risk to insurance providers. As a result, you may qualify for lower premiums on health insurance, life insurance, and even car insurance. This can translate into significant savings and contribute to your overall financial stability.
• Increased productivity: Staying healthy can enhance your productivity and performance in various areas of life, including your career. When you’re physically and mentally well, you’re more likely to be focused, energetic, and able to perform at your best. This can lead to better job performance, increased chances of promotion, and potentially higher income or bonuses.
• Fewer sick days: Good health reduces the likelihood of falling ill frequently, meaning you’re less likely to need to take sick days off work. By avoiding extended absences due to illness, you can maintain a consistent income and avoid any financial setbacks caused by missed work opportunities or reduced pay due to absenteeism.
• Long-term savings: Taking proactive steps to stay healthy, such as engaging in regular exercise, maintaining a balanced diet, and practicing stress management, can help prevent chronic diseases in the long run. Chronic diseases often require ongoing medical treatment and can lead to substantial medical expenses. By avoiding such conditions, you can save a significant amount of money on medical bills and related costs.

Now for some not so obvious impacts:

• Earned Income: I’m not saying it is right or fair but Research has indicated that an individual’s physical appearance plays a role in their earning potential. Findings suggest that overweight individuals, especially women, face a “fat penalty” and earn less compared to their slimmer counterparts. Similarly, studies have shown that smokers tend to have lower earnings than non-smokers performing similar work.
• Length of Life: Adopting a healthy lifestyle enhances the likelihood of enjoying a prolonged and thriving life. When individuals live longer, they have more opportunities to benefit from the remarkable potential of compound interest, leading to significant growth in their savings. For instance, if someone extends their lifespan from their mid-70s to age 90, they can continue to grow their wealth during those additional years. Look at the chart below to see what 20 years could do to $100,000 growing at 8% per year. This not only benefits the individual but also places their surviving family members and heirs in a considerably improved financial position.

• Improved mental well-being: Good health extends beyond physical well-being and encompasses mental and emotional well-being as well. By prioritizing your mental health through self-care, stress reduction techniques, and seeking support when needed, you can enhance your overall quality of life. Improved mental well-being can positively impact your financial situation by reducing impulsive spending, promoting better financial decision-making, and preventing potential financial crises caused by poor mental health.

Hopefully you found some of that information helpful and maybe motivating! After writing about this I’m definitely more motivated for now. Even with these reasons we should strive to be more healthy, I feel like this would be lacking if I didn’t give the basics of where to start for a healthier lifestyle. So in as short of a format as I can here are the basics for starting to incorporate healthier habits in our lives. First and foremost, prioritize regular physical activity. Aim to engage in at least 30 minutes of moderate exercise, such as brisk walking or cycling, most days of the week. Additionally, focus on maintaining a balanced and nutritious diet by incorporating more fruits, vegetables, whole grains, and lean proteins into your meals while reducing processed foods, sugary snacks, and excessive salt and saturated fats. Stay hydrated by drinking plenty of water throughout the day. Get enough sleep to support your overall well-being, aiming for 7-9 hours of quality rest each night. Take breaks from prolonged sitting or screen time by incorporating short movement breaks or stretching exercises into your day. As I said earlier this is a good motivator for me as I need to do better in some of these areas. By making these minor and sustainable adjustments, you can take significant strides toward a healthier lifestyle and head to improved finances as an added bonus. Good luck!