Healthy Habits, Healthy Wallet: How Good Health Boosts Your Savings.
When you're constantly worrying about making ends meet, it's hard to focus on laying everything out and proactively fostering healthy financial habits. The irony is that the very thing causing stress—financial instability—can also prevent people from seeking proper health care when they need it most. It's a vicious cycle.
Studies show that financial concerns ruin your sleep. The mind is constantly racing, thinking about bills, debts, and the uncertainty of the future, and that can make it difficult to relax and get a good night's rest— that is both harmful to both physical and mental well-being. So it becomes this self-perpetuating cycle where financial stress leads to poor health outcomes, which, in turn, worsens the financial strain.
Tackling the intertwined issues of health and financial well-being requires systemic changes at a bigger level.
However, on an individual level, there are steps that you can take so you can start developing healthy financial habits.
How to Adopt Healthy Habits and Maximize Savings
Just tweaking a few things in how you live day-to-day can seriously make the biggest difference in your bank account in the long run. It's all about paying attention to how you spend and finding ways to save some money where you can. Here are some things that you can consider:
1. Eat healthy on a budget through meal-planning
How you prepare your daily meals is one of the best aspects to start practicing good spending habits. Taking a bit of time to plan out your meals for the week and hitting the grocery store with a list can save you a ton in the long run.
Grabbing a quick bite out is indeed a common temptation, especially when you're hanging out with friends or just too busy to cook. While fast food is convenient, it's not exactly the healthiest option on the menu. Those burgers and fries might taste delicious at the moment, but they're not exactly doing your health any favors. Fast food tends to be high in calories, unhealthy fats, and sodium, which can contribute to various health problems such as obesity, high blood pressure, and heart disease.
When you choose to cook at home, you can choose budget-friendly ingredients, buy in bulk, and avoid the markup that often comes with restaurant meals. Plus, it’s so much better to invest in good health and eat fruits, vegetables, legumes, whole grains, and nuts. Cooking at home also allows you to customize your meals to meet your dietary needs and preferences.
It’s important to recognize that dining at restaurants eats away at your budget. The cost of a single meal at a restaurant can often exceed the amount you would spend on ingredients to make multiple meals at home.
2. Brew your own coffee
Many of us love grabbing our morning cup from Starbucks or Dunkin' Donuts, but have you ever stopped to think about how much those trips to the coffee shop are costing you? It’s funny how those little daily expenses can add up over time.
That 120-peso cup of iced coffee might not sound much for one morning but when you have it every day for a month, it can already sum up to 3,600 PHP. So cutting it back and making your own coffee is a great financial habit to start with and a huge headstart toward your financial goals.
And let's talk about those add-ons. If you prefer your coffee dairy-free and opt for oat milk instead, you're looking at a huge upcharge. Investing in a good coffee maker and stocking up on your favorite beans, milk alternatives, and syrups might seem like a splurge upfront, but it pays off in the long run. And there's something satisfying about starting your day with a delicious cup of homemade coffee that you've made just the way you like it.
3. Shop smart with groceries
Make a list before hitting the store and stick to it. Once you're at the store, keep an eye out for sales and discounts. Buying items that you need when they're on sale can be one of the best money habits. And don't overlook generic brands—they often offer comparable quality at a fraction of the cost of name brands.
Another tip is to consider joining memberships offered by grocery stores. These programs typically offer discounts, coupons, and other perks to members, helping you save even more on your groceries over time and keep track of your financial habits.
And when it comes to buying fresh produce, consider going straight to the source by visiting farmers' markets. Not only are the fruits, vegetables, poultry, and meat often fresher and of higher quality, but they can also be significantly cheaper than what you'd find at a traditional grocery store. Also, you're supporting local farmers and producers, which is always a win-win.
4. Work out at home
It's easy to think that you need a fancy gym membership or top-of-the-line equipment to get in shape, but the truth is, that you can achieve great results right in the comfort of your own home.
Gym memberships can be pricey, and when you factor in transportation costs and time spent commuting, it can add up. Skipping the gym and exercising at home means you’re cutting out those extra expenses, and putting that money back in your pocket.
And let's dispel the myth that you need a full home gym setup to get a good workout in. All you need is a small space and a few key pieces of equipment, like dumbbells or resistance bands, to get started with strength training. And even if you don't have the space or budget for equipment, there are plenty of bodyweight exercises, like calisthenics, yoga, or mat pilates, that you can do with just a mat. The best part is, that working out at home gives you the flexibility to exercise whenever and wherever it's convenient for you.
5. Take preventive measures like allotting regular check-ups
Our health and finances have always been entangled. It's quite common to hear about how people are hesitant to go to the doctor, even when they need to, simply because of the cost involved.
It’s an understandable reality that medical expenses can be pretty steep, and for many who are already struggling to make ends meet, the thought of adding hefty medical bills on top of their everyday expenses is just overwhelming. It's a constant juggling act, trying to prioritize between putting food on the table, paying bills, and then having to consider the possibility of needing medical attention.
However, many health issues have a tendency to worsen over time if left untreated, and not only can this lead to more serious health complications down the road, but it can also result in big medical bills. Take something as seemingly minor as a cavity, for example. If you ignore it, it can progress to the point where you might need a root canal or even more extensive dental work, which can be much more expensive and painful to deal with.
Similarly, ignoring symptoms like back pain could potentially lead to more serious underlying issues, such as kidney problems. When you catch these issues early through regular check-ups and screenings, you have a much better chance of addressing them before they escalate into more severe, and more costly, conditions.
6. Invest in insurance while you’re earning
Life can throw some unexpected punches; losing a job, getting sidelined by an accident—and most of the time, companies won't be there with an immediate solution to get you back on your feet. And it’s always reassuring to have a plan in place for those "just-in-case" scenarios.
If you were to lose your job or become unable to work due to an accident or illness, would you have enough savings to cover your expenses until you find another source of income? For many people, the answer is no. This is why investment insurance is important—you can have financial protection in the event of disability.
Especially if you're the main provider for your family, having insurance coverage for family protection becomes even more critical. In the unfortunate event of your passing, insurance benefits can provide your loved ones with the financial support they need to cover their living expenses, your siblings’ education costs, and more. It’s one of the habits of the wealthy.
There's no one-size-fits-all approach, so it's important to reevaluate your spending habits regularly and make adjustments as needed. Maybe for you, it means cooking more meals at home, cutting back on dining out or finding creative ways to repurpose leftovers to minimize food waste. Or perhaps you're looking to reduce your monthly bills by renegotiating your internet or phone plan, canceling subscriptions you no longer use, or exploring alternative energy providers for your utilities.
Other areas where you might find opportunities to save include transportation costs, entertainment expenses, and personal care and grooming products. Maybe you can carpool or use public transportation more often to save on gas or find free or low-cost activities for entertainment, like hiking, biking, or visiting local parks and museums.
Examples of How Good Health Rewards You Financially
Maintaining good health isn't just about feeling great physically, it can also have great financial benefits. When you prioritize your health, you're investing in your future in more ways than one:
1. Better health and well-being
For starters, think about those everyday activities that can sometimes feel like a struggle—like climbing long flights of stairs or rushing to catch the bus without getting winded. When you're in good shape and your muscles are healthy, these tasks become a breeze. You feel strong, capable, and ready to take on whatever challenges come your way.
But it's not just about the physical benefits—improved health can also have a profound impact on your mental and emotional well-being. When you feel good physically, you're more likely to experience positive emotions like happiness, contentment, and confidence. You're better equipped to handle stress and adversity, and you're more resilient in the face of life's challenges.
2. Reduced financial barriers during emergencies
When you're making smart choices for your health, like eating well and staying active, you're naturally cutting back on splurges that don't benefit you in the long run. You're not blowing money on random stuff that you don't need.
So when there’s a sudden car repair or a medical emergency—instead of panicking about how you're going to cover the costs—you're in a much better position because you've already got your finances in order. You've got some savings stashed away for a rainy day, and you're not stressed about where the money's going to come from.
3. Decrease in the stress and worry linked with healthcare expenses
Because you've been proactive about your health, you're also dodging a lot of those surprise medical bills. You're not making as many trips to the doctor or dealing with as many health issues, which means you're saving even more money in the long run.
You've built up an emergency fund, you're not drowning in debt, and you've taken steps to prevent major health issues. So when the unexpected happens, whether it's a sudden illness or injury, you're ready. You can focus on getting the care you need without the added stress of wondering how you'll pay for it.
4. Improved productivity and earnings potential
Think about those days when you wake up feeling refreshed, energized, and ready to start your day—you're not dragging yourself out of bed or reaching for that extra cup of coffee just to function.
Now, translate that energy and focus into your work. You can be hustling at your 9-to-5 gig, or freelancing on the side, feeling functional and in the zone can make a difference. This means you’re always looking into how to improve financial wellness.
But it's not just about the grind, it's also about the quality of your work. When you're feeling great physically and mentally, you live a full life. You're more creative, more innovative, and more resilient, which can open up new doors for success.
Healthy Habits Equals A Healthy Wallet
You might be crushing it with your healthy lifestyle choices, eating your greens, hitting the gym, and all that good stuff. But reality check: life has a way of throwing unfortunate events when you least expect it.
That's why instilling financial education teaches everyone healthy habits not just for their wallets, but for their overall well-being.
That's where health insurance can help you feel at ease about your financial well-being. Even if the unexpected comes you can focus on getting the care you need without stressing about the cost.
Ready to take control of your financial future? Contact Pru Life UK today to learn more about our insurance solutions and how they can benefit you. Visit our website for FAQs, or connect with us Facebook to stay updated on the latest news and offerings. Your peace of mind is just a click away. Let's secure your tomorrow, together.