A recent study found that more than 10% of people on the lowest incomes had poor or very poor health. While this might not sound like a worrying statistic, it is. If we compare it to people on higher incomes, people on the lowest incomes are 4% more likely to have poorer health. This means that wealth is likely to play a role in health. To find out more about how financial wealth affects your health, check out the article below:
The Importance of Good Health
There is no denying the importance of good health. Without good health, enjoying life to the fullest and reaching our goals can be almost impossible. Unfortunately, a substantial proportion of people in the US suffer from poor health. While there are many reasons for this, financial wealth is believed to be one of the leading causes of poor health.
5 Ways Your Financial Wealth Can Affect Your Health
Your financial wealth can affect your health in many ways. Here are some of the main ways:
- It can affect your mental health – mental health and money are reciprocal. Many people with debts struggle to maintain good mental health. They may suffer from conditions like depression, anxiety, and low self-esteem. As well as this, many people also suffer from memory problems.
- It can affect our weight – healthy food is expensive to purchase. Because of this, many people find themselves unable to purchase healthy food. This can have an impact on their overall health and their weight.
- It can impact your fitness – as mental health is impacted by physical concerns, the probability of bad physical effects rises. For example, when someone feels constantly stressed, their blood pressure can rise. This can lead to a range of health issues.
- It can stop you from getting help when you need it – many people with financial concerns choose to put off visiting a doctor because they worry that they cannot afford it. Unfortunately, this often leads to more severe health problems.
- It can affect where we live – people on low incomes often live in accommodation that isn’t up to scratch. It may have mold growing or other issues that can affect health.
Is It Possible to Improve Financial Wealth
Financial health isn’t about the amount of money you have in your bank account. It’s about how your money management supports your overall life goals. However, if you find yourself in a position where your financial wealth is harming your health, you need to find ways to improve it.
Thankfully, there are several things people can do to improve their financial wealth. For example, they can increase their working hours, get another job, or find ways to reduce their outgoings. Another option, for people who have money to invest, is to look into option selling. James Cordier’s guide to option selling will tell you everything you need to know about the benefits of this and why you should give it a go. As well as this, in his book, you can learn some option selling tips.
As you can see, financial wealth can impact your health in several ways. Not only do people need a certain amount of income to afford medical care, but they also need it to purchase healthy foods, etc. Thankfully, there are some things you can do to improve your financial wealth, including the things listed above.