5 Behaviors That Lead to Financial Health

It’s not that big of a leap to notice the tight connection between one’s financial situation and health. For one, financially secure individuals are within the economic means to treat a plethora of potential health problems. In addition, financial security usually leads to less anxiety which, in turn, has great effects on one’s health in the long run. If you truly want to feel as secure about your health as you are about your economic prospects, here are five behaviors that lead to financial health.

What is the dynamic between finances and health?

If we are to discuss symptoms and potential immediate health issues, a bad financial situation typically leads to chronic migraines, insomnia, cardiovascular disease, and more. Of course, your financial security also bears a heavy influence on your mental health – it contributes to depression and other mental disorders, not to mention the fact that, if you already have a mental disorder, insecurity of financial turmoil can push you “over the edge”. Furthermore, if you actually suffer from some sort of chronic pain, like regular headaches and rheumatoid arthritis, a bad financial situation actually makes it worse.

The first step to making it better

This, however, is good news – it means there is a palpable goal you can work towards to improve your overall condition. The first step towards making your financial health better is made in the planning department. You need to start by assessing your current situation. If you have a tendency to spend more than you can manage, you will have to conceive a savings schedule, which can start with some basic mathematics. Based on how much you earn and how much you spend on utility bills, think about what sort of allowance you can arrange for yourself on a daily basis.

Preserving your future

Three-generation women – grandmother, mother and small girl having fun in the kitchen, with copy space.

We are all fully aware of the fact that good financial security can only be achieved through smart savings. Essentially, creating an exclusive savings account equates to investing in your future. However, many people tend to fall into a trap of escalating their spending as their salary goes up. No matter how high you get on the career ladder, the “victory lap” has to end sometime.

Be careful not to go down the slippery slope of lifestyle inflation and set aside at least 10% of your income every month and put it all in your emergency or retirement fund. Likewise, think about your retirement plan: are you simply going to rely on professional in-home care and have your younger family members help you around, or will you join a retirement community in the part of the world that has a climate and healthcare system that suit you the best?

What is your relationship with money?

Idealistic tendencies aside, we all need money to achieve some sort of lifestyle security. It is a good motivator for people who are looking for luxury, power, comfort, even love. If you have a spouse or another close family member, it might be advisable to seek their advice. Sit down with them and have a conversation about your relationship with money. The insight can put you on the path of achieving better mental health which, of course, leads to better physical health overall.

This is also a good opportunity to ask your family members for help. If you cannot trust yourself with saving money, you can ask them for assistance in the matter. In other words, you can virtually turn them into a “bank” mediator who will make sure you put aside the sum you have agreed upon.

A matter of budget

At the end of the day, your budget determines how easy you can breathe. Now, just thinking about this matter might be stressful, but it is an immediate inconvenience you can benefit from a lot in the long run. When it comes to determining your budget, you just have to make sure it is realistic – according to the size of your income. Remember, the budget has to be determined on a month-to-month basis. In order to become financially secure, you have to think in small steps.

 

The link between financial and physical health is practically irrefutable. Chronic anxiety about your financial situation can put excessive stress on your immune system, but there are as many smart ways to overcome this as there are currencies in the world. If you try to practically implement at least a few of these behaviors (or if you will – tips) that lead to financial health, you are bound to be much more content and calm, which should only lead to a better functioning immunity.

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Olivia WJ

Olivia is psychologist and entrepreneur from Brisbane. Mother of two beautiful children and proud owner of two silly boxer dogs. She is passionate writer, a traveler and conscious consumer, seeking healthy and sustainable products to incorporate into the lives of her family. Her motto is “Be the change you want to see in the world”.

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