How Does Your Personal Finance Affect Your Health?

How Does Your Personal Finance Affect Your Health?

Finance and health are two factors that are symbiotic. The person who saves more has financial freedom that enables him or her to take care of his or her health. Healthy people are happier and economically proactive than unhappy ones.

In an article on Healthy Magazine, happiness and health are correlated. It says, “when people are healthy, they are more likely to be better off financially. The financial burden that millions experience in meeting the cost of their healthcare needs can contribute to chronic unhappiness. Money may not buy health or happiness, but it is a crucial factor in the happiness equation.”

Aside from that, what are other ways your finance affects your health? Here is a list:

Allows Improvement in Your Credit Score

It has been noted that someone with a high credit score is at a better position to take care of themselves concerning health due to the availability of funds.

You can easily access money through your credit cards that can enable you to buy medicine or access emergency medical procedures. This will, therefore, allow you to have money to take care of yourself that will ensure you to stay healthy.

It has also been noticed that when one has a poor credit rating, it will result in increased stress financial obligation problems. Stress has been directly attributed to an increase in cardiovascular diseases that could be life-threatening.

Encourages You to Save up

Saving has also been directly attributed to improved health. When one has saved money, he/she does not have to stress about financial obligations.

When your body is fully rested, you can focus and plan effectively. This is because the brain is in excellent condition and can function properly while the heart can supply blood without a lot of pressure.

Mental health is crucial as it is also able to control your body, and it is important always to ensure that your body is relaxed.

Maintains a Rewarding Career

Interesting and more fulfilling careers promote a healthy life. When you have a career that you love, you will generally work better at this job, be therefore be promoted because you perform well and are capable of managing others to do the same. This in turn increases your salary and further life enjoyment and health safety.

Benjamin Todd, CEN and co-founder at 80000 hours said, “Don’t aim for low stress. Many people tell us they want to “find a job that’s not too stressful.” And it’s true that in the past, doctors and psychologists believed that stress was always bad. However, we did a survey of the modern literature on stress, and today, the picture is a bit more complicated.

One puzzle is that studies of high ranking government and military leaders found they had lower levels of stress hormones and less anxiety, despite sleeping fewer hours, managing more people and having higher occupational demands.

One widely supported explanation is that having a greater sense of control (by setting their own schedules and determining how to tackle the challenges they face) protects them against the demands of the position.

There are other ways that a demanding job can be good or bad depending on context”.

Reduce Stress by Paying off Loan Terms

 Personal loans can be handy during emergencies, particularly if you do not have insurance or public healthcare. Although you should, be careful when applying for anytime of loan. Make sure you consult a financial planner or your accountant to insure you are capable of repaying the debt on time.

Financial lending expert Dougal Shand from www.quickloans.co.nz say’s, “student loans, are renowned for causing long term stress in somebody’s life. This stress may increase over time and after many years of stress people can become unwell. To make matters worse you may never repay your loan”.

Having a Financial Plan

Having a financial plan will directly affect how you live your life. Studies have been able to correlate financial plan and health rewards. People who have a good financial plan can plan their lives including their health. Making sure they have enough money for retirement and any special needs care will improve the longevity of an individual.

It would also be beneficial to have a healthy diet plan, routine health checkups, and regular gym visits. All these plans will play a role in ensuring that your health is in excellent condition.

Signing up for the health benefit schemes will also ensure you can receive high quality healthcare when it’s most needed during emergencies.

Remember, your wealth is worthless if you don’t have your health.