It may hardly be shocking news that the state of your finances may be closely correlated to your state of health. But it is a timely reminder that ensuring your financial affairs are in good order can have benefits over and above any immediate money matters.
As a financial adviser we typically deal with people with decent finances and I would say that on average they tend to be fitter and healthier than most.
That said there may be a case of 'chicken and egg', i.e. on one hand being healthier means you may be able to earn more, and on the other hand being financial secure may mean you have more time and money for the gym and a healthier diet.
The latest Financial Wellness Index has revealed that people with very little savings and those who are struggling to pay their bills are also those who are suffering from poor health. Conversely, those enjoying good health are more likely to experience a higher level of financial wellness. The findings raise the question of whether working to improve your financial situation could have a positive impact on your health, or indeed whether a healthier lifestyle might also lead to healthier finances. The Financial Wellness Index from Momentum UK is put together by the Personal Finance Research Centre at the University of Bristol. It examines a number of fundamental elements of subjects’ financial lives, as well as the macroeconomic state of the UK, to generate the country’s overall Financial Wellness score out of 100.