Money can’t buy you happiness, but if you have too little of it, your health can suffer. One review published in Clinical Psychology Review showed that there is a strong link between mental illness and having financial woes. Those in debt, it seems, have a three times higher risk of also having mental conditions such as depression and anxiety. What effect can financial woes have on our mental and physical health, and how can we overcome them?
Healthy Finances Promote Overall Wellness
Struggling To Pay The Bills
A 2016 University of Southampton study found that money problems and worries about university debt can increase the likelihood of alcohol dependency. The greater the worry, the greater the symptoms of this and other conditions, including anxiety and depression. The researchers also found that having to give up on one’s dreams (by quitting university, for instance, owing to rising debt) can lead to a further deterioration in mental health.
The Effect Of Stress On Our Spending Habits
When an important project or study project requires you to borrow money, it is important to think clearly to pick wise options, do the required research, and obtain the best rates possible. Being in a calm and mindful state can help us make sound decisions. If you ever doubted this, take note of research published by the Association for Psychological Science, which showed that mental issues can make it hard to make sound decisions in which rational thinking is essential. In other words, the relationship between finances and mental health is bi-directional. The better one category is, the greater the chance the other can be improved.
How Do Finances Affect Your Physical Health?
Science is finally waking up to the important link between our physical, mental, and (some would argue) spiritual health. Being fit and healthy is inexorably linked to feeling good about ourselves and where our lives are heading. A Duke University study, for instance, showed that there is a very strong relationship between having a low credit score and having poor cardiovascular health. Lead researcher, T. Moffitt, hit the nail on the head when he said that in essence, people who don’t take care of their finances generally don’t take care of their health either.
Choosing A Healthy, Happy Life
You may not be able to change your credit score overnight or open a million dollar startup, but one thing you can do that will make a big difference to both your finances and your health, is make healthy lifestyle choices. The fitter and lighter on your feet you are, the more likely you are to feel motivated and positive about life, enough so to make well-reasoned financial decisions. There is no big mystery when it comes to living long and well. Researchers have long recommended a healthy Mediterranean, Japanese, or Norwegian diet. What these have in common is a focus on fruits and vegetables, healthy protein sources, and the use of healthy Omega-3 essential fats both in cooking and in a raw state. Exercise and sleep are also key. Make sure to get your required daily quotient of both, and include stress-busting exercises like meditation and yoga into your weekly routine to protect your mental health.
Achieving a state of health and happiness can have positive effects on your finances, and vice-versa. It is important to be aware of the delicate relationship between the two to ensure you make the best lifestyle and financial choices. Don’t underestimate the effect that stress, sleep deprivation, and depression can have on your finances. Get professional help if required so you can obtain the mental clarity you need to forge the most lucrative financial path possible.