How Your Personal Health Can Affect Your Financial Portfolio

Tuesday, March 20, 2018, 6:00 PM | Leave Comment

If you are like many people, you spend a considerable amount of time and energy trying to improve your financial situation and grow your portfolio.

You may think that you have taken all reasonable steps possible to position yourself for financial success.

However, many people have unhealthy lifestyles that impact their health as much as their personal finances.

Understanding the costs of an unhealthy lifestyle can help you to find motivation to improve your health and wellness.

  • The Cost Health and Wellness Activities

    You cannot be as healthy as possible sitting on the couch at home, so there may be some costs associated with participating in health and wellness activities.

    For example, you may need to pay for a fun day out at a local park hiking and picnicking with family. The cost for this is minimal. Some people also pay additional money to join a gym.

    Remember that there are more affordable and less affordable ways to incorporate health and wellness activities into your lifestyle.

  • Elimination of Unhealthy Lifestyle Expenses

    When you incorporate healthy activities into your lifestyle, you likewise can eliminate unhealthy activities.

    For example, you can stop going out to bars at night, and you can dine in rather than eat out. You can save a substantial amount of money in this way, and some of this money could be used for a gym membership or other healthy activities.

    The additional money that is saved can be used to enhance your financial portfolio. A financial advisor, such as Trajan Wealth or others, may help you to determine the best use of these extra funds.

    Remember that this is an ongoing lifestyle adjustment, and this means that you can save and invest more money on a regular basis.

  • Reduced Medical Expenses

    Healthier individuals may be less likely to get sick as well as to develop serious medical conditions.

    Everything from a bad cold to cancer can result in copays, prescription medications, deductible payments and more.

    Staying as healthy as possible is an excellent way to reduce medical expenses now and in the years to come.

    Remember that serious health issues may result in such significant medical costs that you must empty your financial portfolio to pay for them.

Now that you understand more about the many ways that your personal health can affect your finances now and in the years to come, you can see that you cannot afford to be unhealthy.

Now is a great time to take positive steps toward improving your health. By doing so, you can begin to see a positive impact on your financial situation.

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