Four easy practices that are great for your health and finances
Taking care of our mental and physical health has direct benefits to our finances. That’s because the same discipline we use to care for our minds and bodies can be applied to our finances. Just think about the dedication and discipline you apply to showing up for your regular workouts or daily meditation or prayer. It’s that same commitment to your health that enables you to make healthy financial choices, too.
Not surprisingly, when people start making their overall health a priority, their financial wellness improves, too.
Here are four easy practices that are great for your health and finances.
Make time for your fitness and meditation, and do the same for your finances each week. Health experts recommend spending at least 30 minutes, five times a week, moving your body, and another 5 - 10 minutes per day pausing to relax your mind. When it comes to your money, set aside 10 - 20 minutes per week updating your budget or learning something new about your finances. Are you a tad forgetful? Try logging these times right into your calendar, so you won’t forget.
Binge diets, high risk health fads and get-rich-quick schemes should be avoided. These tactics don’t work the majority of the time. Sure, they might produce a short-term favourable result, but stats show you’re likely to revert back to your old habits. Dealing with the root of what you’re trying to accomplish, and using proven techniques, will always pay off in the long run.
Sometimes you’ve got to go slow in order to speed up. Working steadily and strategically to strengthen your health and grow your savings through long-term investing is the way to achieve better results, and ensure these tried-and-true habits stick for the long-term. Note that it can take a good 90 days to form new habits, and so sticking with your fitness, meditation and financial regimes for at least three full months is key. You’ll get faster results, once you’ve formed more permanent habits.
The biggest return on investment is in yourself. That’s why prioritizing learning more about your body, mind and money each year is super important. This also means you’ll likely need to invest some money and time in these areas. When it comes to wellness spending, a best practice is that about five per cent of your budget goes towards wellness, three per cent goes towards continued learning and another two per cent towards pure entertainment. These expenditures should be enjoyable, and might mean you’ll need to trim from other areas of your budget.
Some spending ideas that will benefit your health and finances long-term are investing in coaching, a nutritional program from an RD, meditation journal, a bicycle to switch up your morning commute, online low-cost fitness membership, a course to learn the principles of financial security - whatever it is, if it will lead to better health, it is probably a great financial investment.
Remember HEALTHY = WEALTHY
