The Health Wealth And Debt Connection

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Experts and research says that there is a distinct connection between health and wealth accumulation. Pretty exciting, isn’t it? However, if you do not maintain your health it will affect your wealth accumulation which in turn will affect your financial health and may even lead to debt. Pretty amazing and alarming, don’t you think? Do not stay amazed. Instead, read on to know more and act accordingly. 

It is a well-established fact that both the wealthcare and healthcare industries have always been on a converging course for time immemorial. This distinct connection between the two has helped major companies in both these industries to develop strategic and mutually beneficial alliances with one another. This alliance have shown a lot of promise but along with that it has also shown a lot of significant implications that have resulted in the game changing value proposition. 

If you maintain your health you will be able to triple the wins as this will benefits the following propel: 

• You as the consumer 
• The wealth and health advisor and 
• The respective institution or organization. 

The long and short of the story is that it is absolutely a must that to gain wealth you must retain your health. All wealth and health advisors suggest this making a connection between the two. 

Health And Wealth Issues 

If you consider the health and wealth issues you will see that it is not only faced by the Americans but it is the same across all developed nations around the world. The main reason for this is that the issue is primarily behavioral. 

 In fact, if you want to understand their current financial position or their current health condition, you will see that it is their past behavior that has resulted in such issues and their deteriorating financial health. 

 Moreover, if you want to predict their future financial or health condition, once again the first place to look for you is their behaviors but present behaviors this time. 

This inevitably draws one conclusion: If anyone has to improve their future condition whether it is for health and wealth, the thing to do is to start making changes in their behaviors in the present. 

The above idea did not come all of a sudden as there are significant proofs and reasons for it. It is interpreted right form the olden days when the Buddhist Monk Sogyal Rinpoche said “Living Well, Dying Well.” The underlying meaning of this statement is that if you want to understand your current financial or health condition, you must look into your past actions. On the other hand, if you want to understand your future condition, then you will have to consider your present actions. 

This statement if you follow will enable you to make amendments to your behaviors and leave no loose ends that may turn out to be tragic in the end for when it comes to your financial freedom. You will not have to live your life on loans and borrowing from your friends, coworkers, family members, any traditional banks or any other alternative sources. 

Understanding Financial Condition 

When you want to understand your financial condition, most people will suggest one thing that you should look into: your debts. There are several reasons for it.  If you have excessive debt it is highly likely that you will spend money beyond your means. 

 This will eventually allow your debts to pile up. 
 The price of the debt will go up. 
 Your credit rating will come down. 
 Access to additional loans will either become increasingly expensive or completely inaccessible. 

On the other hand, if you have no debt or have accumulated a considerable nest egg or retirement or education fund it is likely that you will always spend your money within your means. This will result in substantial savings that will help you in dealing with emergency situations such as a medical emergency for you or your family member. 

In short, you will use your debt and money wisely. Your credit rating will be up and you will not need to borrow money for anything bringing the cost of borrowing significantly down. You will create wealth that means. 

Now you may ask where the connection between the two and debt is. Ideally, when you have low debt and good health you will have low or no stress. There will be no depression or anxiety, need to live in fear and apprehension of collection calls. All this will help you to maintain your sleep, appetite, and energy level, ability to work and produce better results, and in turn live your life happily and without unmanageable debts. 

Understanding Health Conditions 

Applying the same theory to health, if you do not maintain it, you will several conditions such as: 

 Out of shape 
 Blood pressure 
 Excessively high cholesterol 
 Risk of heart attack and stroke 
 Exercise too little and 
 Eat wrong food and take wrong beverages. 

All these will affect your work ability and income. It does not need any further explanation that a low level of income will lead to either reluctant sacrifices of wants and even needs or taking on more debt than you can afford and ignore it. This will lead you to a debt trap and result in change in behavior, attitude, mood and other factors that will affect your relationship with others. 

The Solution 

PricewaterhouseCoopers reported in their 2014 Employee Financial Wellness Survey that most of the employees felt stressed due to their financial situation. This is due to the connection between the two. Financial Finesse Inc. corroborated with their report in the same year. 

To get rid of your financial or health problems the only solutions seems to be a change in your behavior and this overarching solution can be termed as Behavioral Advice. This is a big umbrella that covers: 

 Behavioral Financial Advice or BFA and 
 Behavioral Health Advice or BHA 

It is the chain link between health, wealth and debt that will lead you to a stressful situation and the dangers that are perceived today.

I hope you enjoyed this blog post about the health and wealth connection to help you be more healthy and wealthy in life. 

Interested in more articles about how to save money and live healthier? 

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