The ScoopHow does your financial stress affect your physical health?

When we think about our health and well-being, it’s natural to consider our physical, mental, and emotional needs. But one aspect of well-being that isn’t always associated with our overall wellness is our financial health—and the two are directly connected. 

Your financial health impacts nearly every facet of your life, and high levels of financial stress can actually manifest through physical symptoms and illness.

You might be seeing a doctor annually, but are you checking in on your financial health every year, too? 

What is financial health?

First off, being financially healthy does NOT equate to being wealthy. It’s not about driving fancy sports cars, or going on luxury vacations.

Financial health is about being in control of your finances. It means having more financial independence and peace of mind knowing you can achieve whatever financial goal you set your eyes on. 

Five factors lay the foundation for stable and secure finances—now and in the future:

Your short-term financial needs
How much do you earn? Do you have sufficient emergency savings?

Your financial behaviors
Do you pay your bills on time? Do you use a budget and track spending?

How you manage your money
Do you have manageable debt levels? Do you spend less than you make? 

Your confidence about money
Do you have an excellent credit score? Do you feel confident in your financial future?

Your long-term goals
Do you have enough long-term savings? Do you have enough insurance?

What’s the link between financial health and physical health?

Financial stress doesn’t just affect your bank account. It affects your body. 

High anxiety over finances affects you physically through issues like compromised immune systems, digestive issues, heart disease, diabetes, migraines, insomnia, and depression. 

This is particularly critical this year as record-breaking inflation and layoffs have affected financial stability globally. Experts have found that financial issues are the top source of stress for most people—even more stressful than politics, family, and work.

Stress from money problems also tends to be chronic or long-lasting. People tend to keep financial worries to themselves because they feel embarrassed or don’t know how to improve their situation. But when we avoid the minor problems, they’ll only build up to more substantial issues.

How can you take better care of your financial self?

Just like you get annual medical checkups and biannual dental checkups, you need to give your finances some primary care.

A financial-health checkup can help you determine how well your finances are doing and what you need to work on to reach your financial goals. And just like doctors and experts can help you with your physical health, financial experts can assist you in building a solid plan for care and provide guidance along the way.

When you make an appointment with an expert like a Tranont Wealth Specialist, you can expect them to go over your budgets with you, recommend savings plans, look at insurance & retirement needs, and help you build a plan to reach your short-term and long-term goals. 

It’s a very individualized process and worthwhile regardless of your current situation. It’s never too late or too early to sit down for a financial checkup.

If you’d like to get on the track to better financial health, CLICK HERE to schedule a complimentary appointment with a Tranont Wealth Specialist.

Improving your financial health is definitely possible and something you can make happen with a little bit of help. It won’t be long before you have resilient and lasting strategies to stay healthy through life’s ups, downs and everything in-between.