It’s a well-known fact that physical health affects more than just the body. Your mental and emotional health connect very directly to your physical health as well. Your overall health impacts your life in even broader ways, however. In several surprising and direct ways, it can influence your financial health as well.
How Your Health Impacts Your Wealth
Beginning with obesity, the damage that extra pounds can have on your wallet can reach into the tens of thousands per year. This impact comes in direct ways, such as increased food costs to buy higher quantities of food, to say nothing of the increased cost of all that fast food and junk snacks. Obesity also contributes to literally dozens of potential illnesses, any one of which can jump your medical bills up by thousands, if not tens of thousands, of dollars. Beyond this, it can influence your annual expenses in less direct ways, like increased life insurance premiums and the need for mobility equipment.
Smoking also ranks high on the list of poor health choices that can hurt your annual budget in a big way. Beyond the obvious cost of the cigarettes themselves, and we all know those don’t come cheap, smoking raises life insurance costs, can result in increased medical insurance premiums, and will almost certainly create sky-high medical bills over the course of your life. If you’re one of the 1/3 of smokers who will at some point contract some form of lung or esophageal cancer, you can expect those increased medical bills to swiftly leap into the six-figure range.
Working to eliminate both of those conditions alone can save tens of thousands of dollars per year, which when invested wisely, can help you make it to retirement in both the physical and financial condition needed to enjoy your hard-earned rest.
Take a look at this infographic and see how much just a few small steps toward a better life can help your bank account as well.
About the Author
Anastasia Ivanov is a freelance writer and graphic designer for InvestmentZen with a penchant for flipping houses. In her spare time, she enjoys cooking, hiking, and playing with her two cats Leena and Masha.