Overview
There is a well-observed link between good healthy habits and financial outcomes. In this article, we will tease out the connection between various healthy behaviours and financial benefits that you may experience as a result.
Habit #1: Consistent Exercise
Consistent exercise is one of the hallmarks of a healthy lifestyle. While it takes prioritization to make it happen, it can lead to improved physical and emotional wellbeing, improved focus, better weight management, and lower stress levels. These, in turn, may lead to more judicious financial decision-making. Your ability to budget effectively, avoid impulsive purchases, and save partly depend on the reserves of energy you have, which you can build by engaging in regular exercise. In fact, people who exercise three times a week earn more than those who do not (see article).
Habit #2: Eat Nutritious Food
A healthy diet usually consists of unprocessed, whole foods and limits your sugar and sodium intake. Sticking to a healthy diet not only results in a slimmer waistline but also improves your wellbeing and focus, which, in turn, can make better financial decision-making easier. For example, it is easier to budget and build an emergency fund when you have sufficient reserves of mental discipline and willpower, which depend, in part, on your diet and lifestyle.
While healthy habits may help you make better financial decisions, they won’t pay for your immediate expenses. Need quick funds? Apply for a personal loan online via LendProConnect. We don’t check credit during the online application process.
Habit #3: Intermittent Fasting
Intermittent fasting is an excellent habit that can result in better weight management, improved insulin sensitivity, and lower blood sugar. The most popular intermittent fasting method is the 16/8 method, which has you fast for 16 hours per day and gives you eight hours per day to eat. Many people prefer the 12-8 P.M. eating window as it allows them to have a nutritious lunch and dinner. However, you can pick any window you like. The key is sticking to it and consistency.
How does intermittent fasting benefit your financial behaviour? It may indirectly lead to a better health status, better mental clarity and focus, and higher reserves of energy, which make it easier to budget effectively, avoid impulsive spending, and set aside money, given that all of these behaviours require discipline and self-control.
Habit #4: Avoid Smoking and Alcohol
The average cost of a cigarette pack may range from $15-20, depending on the province. Buying a pack a day would result in thousands of dollars of additional spending per year. A 12-pack-of-beer-per-week habit would result in well over $1,000 of spending per year. Not only will you be saving substantial amounts of money by avoiding cigarettes and alcohol, but you will also likely avoid a whole slew of illnesses and conditions that often arise from these habits. A better health status allows you to make better financial decisions due to higher reserves of self-control and discipline.
Habit #5: Get Good Sleep
An important aspect of leading a healthy lifestyle is getting sufficient sleep every night. Good sleep is essential for healthy brain function. A healthier brain can mean better financial decisions. You may be more motivated to seek out better job opportunities if you’re well-rested. You may also be more motivated to budget, set financial goals, and build an emergency fund, all actions that require strong reserves of discipline and energy, which correlate with an improved health status.
The Bottom Line
Healthy habits are a key ingredient in achieving a better financial outcome in the long run, but they won’t cover your expenses in the short term. If you need quick funds, apply for a personal loan online via LendProConnect. We don’t check credit during the simple and quick online application process.
