There are several experts that your doctor may tell you can enhance your health such as a fitness coach, a dietician, or a physiotherapist, but one group of experts that might not be at forefront of every doctor’s or every patient’s thoughts are financial planners. Admittedly, if you have a health problem we still strongly advise you to visit your doctor first, but you would also be doing your health a favour if you speak to a financial advisor too.
If those last statements have led to a puzzled expression on your face, we are not surprised. After all, financial advisors are not the people who would immediately turn to for health advice, nor should you. We are not suggesting that your financial advisor should replace your doctor, but instead should provide you with financial planning advice that can mean you are better protected from the health issues that can arise from money worries.
In many cases, an illness or disease can often be traced, not to some physical event, but to a person’s mental health. This is most likely where the phrase “Healthy Mind, Healthy Body” originates from. It can be eye-opening when you discover that many of the physical issues you may suffer from are in part often caused by mental health issues with stress and anxiety being two of the prime culprits.
It, therefore, follows that if you can do all you can to protect and enhance your mental health, you are doing likewise for your physical health. To take that a stage further and link it with your finances, if you are not stressing or becoming depressed about how bad your finances are, because you instead have a financial plan in place, your health, both mental and physical, should be in a better shape than if the opposite were true.
To illustrate that point in more detail here are five specific ways your health benefits if your finances are in order due to financial planning.
You Sleep Better: If your financial advisor has created a financial plan for you and you are following it there should be little for you to worry about regarding money. As such, sleepless nights where lie there awake for hours going over your financial worries time and again should not occur. Instead, you get a restful and restorative good night’s sleep, which is beneficial for your health.
Your Stress And Anxiety Levels Are Lower: You do not have to be a qualified psychologist to know that if your finances are in order thanks to your financial advisor and the financial planning they have instigated for you, your levels of stress, anxiety and worry relating to money should be zero. Reducing all of these negative emotions promotes good health.
You Feel Confident And Your Self -Esteem Is Boosted: With all your finances being effectively managed, it can provide a boost to your self-esteem knowing that you can pay bills on time, your debts are under control, your retirement finances are secure, and you can afford many of life’s little extras. Positive self-esteem is a much healthier state of mind than feeling unworthy.
Your Relationships Improve: More relationships end due to money issues than most other reasons which is why having a financial advisor undertake financial planning on your behalf can save your relationships. These relationships can be with your spouse or partner, your close family, and your friends. Positive relationships with mutual love and respect are healthier versus bitter conflicts with those closest to you.
You Can Live A Healthier Lifestyle: One of the benefits of sound financial planning instigated by your financial advisor is that you should have more money to spend on the things which are important to your health, such as following a healthier lifestyle. This can include eating healthy food, purchasing fitness equipment, taking out a gym membership, or deciding to take out private health insurance or paying directly for private healthcare.