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We often hear about the importance of maintaining a healthy lifestyle, yet the challenges of resisting temptation or overcoming procrastination can make it difficult to prioritize health for its own sake. For some, understanding the financial benefits of a healthy lifestyle might provide that extra push needed to stay on track.
Prioritizing your health doesn’t just make you feel better—it can also have a significant impact on your finances. Research shows that individuals with a Body Mass Index (BMI) over 30 experience a marked increase in annual medical expenses.
If you’re curious about how your health habits might be influencing your financial well-being, consider the following points:
- Regular Preventative Care: Staying on top of preventative care can help minimize potential healthcare costs. Even minor illnesses can lead to missed work, lost opportunities, and reduced income. More serious illnesses often come with significant costs, including hospital stays, medical equipment, and doctor’s fees.
- Dental Health: Maintaining regular dental checkups and practicing basic preventative care can help reduce dental expenses.
- Long-Term Financial Impact: Persistent poor health can make it harder to save for retirement due to lost earnings over time.
- Costly Habits: Some unhealthy habits, like smoking, can be expensive in themselves. Smokers often face higher health care and life insurance premiums. Additionally, smoking can cause faster depreciation of homes, cars, and other belongings. The overall economic burden of smoking exceeds $600 billion annually, with nearly $240 billion attributed to direct medical care for adults.
- The Cost of Obesity: Obesity is another costly condition affecting many Americans. Obese adults spend an average of $1,861 more annually on direct healthcare costs compared to adults at a healthy weight.
By focusing on your health, cutting out harmful habits, and engaging in preventative care, you can improve your self-confidence and quality of life. Additionally, you may be able to reduce expenses, enjoy more of your money, and enhance your overall financial health.
References:
- Journals.org, 2023. “Association of body mass index with health care expenditures,” landmark study first published in 2021.
- NIH.gov, 2023. “The impact of underutilization of preventive dental care by adult Medicaid participants,” landmark study first published in 2022.
- CDC.gov, 2023.
- CDC.gov, 2023.
