How Can Financial Wellness Affect Your Health?

How Can Financial Wellness Affect Your Health?

Financial wellness is a state of being wherein a person can fully meet current and ongoing financial obligations, can feel secure in their financial future, and is able to make choices that allow them to enjoy life. Financial wellness can affect your health in several ways:

* Stress: Financial stress can take a toll on your mental health, leading to anxiety, depression, and other mental health problems. Financial stress can also disrupt sleep, increase your risk of developing headaches, stomachaches, and other physical symptoms, and trigger or exacerbate existing health conditions such as heart disease and diabetes.

* Nutrition and exercise: People who are struggling financially may be less likely to afford healthy food and regular exercise. This can lead to weight gain, obesity, and other health problems.

* Access to healthcare: People who are uninsured or underinsured may delay or avoid medical care, which can lead to worse health outcomes. Financial stress can also make it more difficult to afford medication, copays, and other medical expenses.

* Social support: People who are struggling financially may be less likely to have social support, which can also have a negative impact on health. Social support can help people cope with stress, provide emotional support, and encourage healthy behaviors.

* Life expectancy: A study published in the Journal of the American Medical Association found that people with low socioeconomic status have a shorter life expectancy than people with high socioeconomic status. This is likely due to a combination of factors, including financial stress, poor nutrition, lack of access to healthcare, and social isolation.

Financial wellness is an important part of overall health. By taking steps to improve your financial wellness, you can also improve your physical health and mental well-being.