Key Takeaways
  • Healthcare costs in 2020 alone have increased by 3% compared to 2019.
  • Your health is an important part of your well-being. When you live a healthier lifestyle, you can take care of other areas like building wealth and being a good steward of your money.
  • Poor health can become expensive and lead to an irreversible outcome.
Are you ready to make some real money moves?

According to the Centers for Medicare and Medicaid Services, prescription drugs reached a total of $348.4 billion in 2020. Chronic diseases such as diabetes, stress, heart disease, and cancer are among the root cause of poor financial health. This also causes an increase in the price of prescription drugs. One benefit of having a healthy lifestyle is spending less on healthcare costs due to healthier choices.

 

For low-income families, unaffordable prescription drugs can lead to more health problems. Low-income individuals and families are susceptible to a higher risk of chronic diseases because they simply can not afford the proper healthcare. 

 

Sure we can sit around and blame the pandemic for our health issues, but in actuality, before the pandemic, we were living life the same as we live it today. The pandemic has just helped open our eyes to see more of what is important in life. 

 

The good news is that our poor decision-making regarding our health doesn’t have to stay the way it is or has always been. We can choose to change today, right here, right now—the decision to change starts with saying yes.

 

Tips For Better Health

 

Here are five tips to help you increase your health and grow your bank account:

 

Image Credit: CC7 / Shutterstock.com

Exercise

 

Do you ever wonder why your favorite social media influencers always post videos of them working out before getting their day started? That’s because studies show that just 15 minutes of daily cardio results in better memory performance and the ability to learn and retain information faster. 

 

Recommended Read: Exercising is the Ultimate Money Hack

 

Exercising delivers oxygen to the brain while increasing blood flow. Being physically active increases good heart health and reduces stress, depression, and anxiety. If you feel better about your health, it will reflect in your bank account. 

 

The more someone exercises, the more likely their diet will improve. Once your diet improves, your overall lifestyle will improve, including your finances.

 

Recommended Read: Cost-Effective Tips to Stay Active Without a Gym Membership

 

Start a Community Garden

 

Often, low-income families are more likely to choose unhealthy lifestyles because they live further from healthy food stores and closer to convenience stores. Convenience stores such as gas stations and corner stores often have unhealthy and unaffordable foods, classified as food deserts. Many of these stores are located in low-income neighborhoods, which are predominately Black and Hispanic communities.

 

 

Image Credit: Rawpixel.com / Shutterstock.com

 

Starting a community garden will help stretch your dollars throughout the week and provide fresh fruit and veggies to your family members and community members. Growing high-value crops like tomatoes and peppers can be a great way to consume affordable vegetables. In addition, gardening is another type of exercise that can provide long-term health benefits. 

 

Organizing Your Finances

 

Organization, especially regarding your finances, allows for mental freedom and clarity. When your bills are paid, you feel more at ease and can focus on other areas of your life like your family, school, or your job. This also decreases the chances of living a paycheck to paycheck lifestyle. 

 

Set goals for your finances and take them one step further by automating your finances.

 

Recommended Read: Set Up An Automated Savings Plan

 

Practice Self Care, Go To Therapy

 

Throughout life, being exposed to so much negativity and trauma can be a huge factor in why you make so many negative decisions. Resources like therapy and joining a community that can support and affirm you will help you feel better and boost your mood.

 

Practicing self-care and self-love every day can result in better mental health. Better mental health helps you make better decisions throughout your everyday life, including your finances. The first step is always the hardest, but it is the single best thing you can ever do for yourself and your future. 

 

Recommended Read: Practicing Self-Care on a Budget

 

Stop Comparing Yourself To Others On Social Media

 

Social media will make you think that everyone has their life in order with a simple picture or 30-second video. It will make you feel like less of a person, leading you to a state of depression.

 

Limit the time you spend on social media. Instead, use your spare time to work on yourself and practice self-care. You can also use the extra time to start a budget, learn how to invest, or teach yourself a new skill.

 

Health is your greatest asset. When you live a healthier lifestyle, you can take care of other areas like building wealth and being a good steward of your money.

 

Recommended Read: The Financial Deception Caused by Social Media

 

How do you plan to implement the “health is wealth” mantra in your life? Please share your thoughts with us in the comment section below.

 

Main Image Credit: Shutterstock.com

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