How Your Health Can Affect Your Finances

  • August 24, 2019

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How Your Health Can Affect Your Finances

There are a bunch of things in life that take precedence over others. What we enjoy and what we love are completely subjective, but some things are just more important and need to be prioritized. Your health is obviously one of those aspects of life that need to be zeroed in on: mentally, physically, and socially, you need to be safe and sound. Another biggie is your finances: money is what allows us to participate in this world, in all honesty, so we need to make sure we’re wise with it.

Introduction

Whether we like it or not, these two necessary parts of life can combine in a positive way, and in a negative way. If you’re not doing so well in terms of your health, then it can be massively detrimental to your finances. On the flip side, if you’re stupid or careless with your money, then you’re overall well-being can be impacted heavily. Obviously, the link people will make between money and health is that money can buy you happiness. While the debate on that statement will be argued for as long as we’re a species, there are an alarming amount of points that prove that sentence to be fairly accurate. 

Sometimes you can’t help the health concerns that hit you, but you can limit the damage that they cause a lot of the time, and you can certainly hinder any financial impact it may have on you. Here are a few ways that your overall well-being can have a big impact on your money situation.

You Need To Work In Order To Pay The Bills

We’ll start off with the obvious point. You need to be able to work in order to generate income. Yes, you may be able to cash a few welfare cheques every now and again, but, a lot of the time, that won’t be enough to sustain the living situation you’re in. If you’re not in any way fit or available for work, then the money won’t be coming in. This is an especially daunting thought if you’re self-employed and rely on your craft to get you through the weeks & months.

Small, Necessary Costs Could Be Impactful

If you’re in need of specific medication or equipment, then it probably won’t be cheap. Sure, some countries provide free health care; which means you may be given a few bits and pieces without charge, but a lot of components, meds, or equipment will cost you. For instance, if you require a hearing aid, then you’ll need to replace the battery (learn more) constantly – it’s a necessary pain in the backside. A lot of different medications can cost quite a lot, too. If you have to take lots of different pills per week, it might sting you financially. These relatively small outgoings can add up. 

Your Mental State And Concentration Levels May Be A Game-Changer  

This is a less hard-hitting idea, but one that should still be thought out. If you’re not quite yourself upstairs due to stress at work, or personal problems, then you might not be focused properly on your money. You tend to make silly decisions and do stupid things when you’re struggling in the mind. We often have better decision-making when we’ve got a lot of energy, not when we’re low.

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