Let’s talk about health, wellness and your personal finances.
How are these connected? Before we get to that, I would like to remind you of the concept of total health. The idea of total health is that you exist as an inseparable combination of mind, body, and spirit.
Total health focuses on the “whole you.” Actions you take that are good for any one of these components–mind, body or spirit–lift the other two, and your total health is improved. Similarly, anything that is harmful to one of these parts, negatively affects the others, and adversely affects your total health.
This is an important concept because, for many, personal finances are a major cause for concern. And, worry is harmful not just to your emotional health, but to your physical and spiritual health as well.
When you are worried, anxious, and under a great deal of stress, you become tense, and a cascade of negative health consequences follows.
You do not get the proper amount of sleep your body needs, your cortisol levels rise and a variety of other hormonal and chemical changes occur in your body–all of which negatively effect the “whole you.”
Chronic stress makes you want to eat “comfort foods,” prompting harmful biochemical changes to occur in the body, and things begin to compound on all levels–physically, emotionally and spiritually.
Personal finances create a lot of stress and anxiety in today’s world. We have been through turbulent financial times and we are not out of the woods yet.
Many people are worried about their future and struggle to manage their everyday finances. This financial anxiety is not lost on wealthy individuals either.
Stress arises from the fear of not having enough money, the money not lasting, or monies being misused by beneficiaries or the government.
The news media helps to fuel this fire.
Most media programming is designed to sell advertising, and through that, ultimately sell a product.
The typical approach capitalizes on fear. Perhaps you have had some of these thoughts: “I will not have enough money… Do I have enough to send the kids to college? Will I have enough money to retire? Will I be able to travel?”
These fears make you an easy mark for the pitchmen: “Buy this stock. Invest in bonds, Invest in mutual funds.” Financial propaganda hooks your attention by playing on your emotions.
Some find themselves consumed by greed.
“Get rich quick! Retire early!” So we see the twin emotions of greed and fear, but mostly fear, that the media plays on to sell their product.
When bombarded with conflicting financial advice, it’s easy to wind up in a constant state of fear about your financial future. Many feel inadequate trying to figure it out, and the fear increases.
They lie awake at night wondering if they will have enough money and begin to work harder and harder to manage their finances. It is a vicious cycle, and it is harmful to your health.
The way to break free and create a virtuous cycle in your life is to develop an integrated financial plan, a plan that allows you to sleep well at night knowing you are on the path to financial wellness.
To do this you need to identify your financial goals.
Your financial plan should begin by addressing the spiritual aspects of your money. What are your goals in life?
What do you want to spend your money on? How much money is enough? Are there certain ways of earning money that are better than others? What are your personal ethics surrounding the ways you earn or invest your money?
All these questions need to be answered before you can set clear goals and decide how you want to achieve them. So begin with the spiritual aspects of money.
Only when your values are clear can you understand what you want to achieve and develop an integrated financial plan, a plan that will allow you to relax, sleep well at night, and improve your physical health and wellness.
And, perhaps, part of your plan might be to ignore the financial media, but instead invest in a meaningful relationship with a trusted financial advisor. Get your personal finances in order and be well.