How healthy your finances are may be the key to your overall health.
Money matters when it comes to our health. Think about it: Few things in life cause as much stress and anxiety as money. At its most basic, it buys us food and shelter. In other ways, it helps us pursue education, career opportunities, and a secure retirement as well as experiences, like travel or giving back through philanthropy.
That’s why financial wellbeing is one of the Five Dimensions of Wellbeing. The other dimensions include physical, career, social, and community.
The Link Between Finances & Health
The UVM Medical Center understands the connection between financial wellbeing and overall health. Research shows that health issues – like disease and even premature death – tend to decline as you move up the financial ladder.
- Stress can take a toll on you – and your wallet. Among workers who experience high stress levels, 57 percent report that they are disengaged at work and miss more work than their peers.
- Finances are linked to our mental health. A report found that individuals with debt are 8 times more likely to report feeling depressed.
- A University of Michigan study found that low credit scores could be used to predict increased risk of cardiovascular disease.
When people manage their finances to create financial security, they decrease stress caused by debt and help build financial reserves for a rainy day. They can give to others and not just spend on themselves. They have the financial freedom to do the things they enjoy the most.
Join the “Financial Fitness Savings Spree”
The UVM Medical Center will launch the “Financial Fitness Savings Spree” on October 14. It will run through November 5. We will offer financial tips and point you in the right direction for finding tools that will help you boost your financial wellbeing. We will show you how to save as much as $1,000 in just 30 days.
Plus, you could win prize money in the process — $25, $100, and $250 gift cards are up for grabs!
How to get involved and win:
- Join the Facebook Event.
- Watch the tips we post.
- Take the quiz we’ll post on November 4, 2015.
If you get all the answers correct, you’ll be entered to win one of two $250 gift cards, courtesy of Hickock & Boardman, and a runner-up prize of a $100 gift card, courtesy of New England Federal Credit Union.
Watch for surprise prize opportunities for four $25 gift cards during the contest.
Here’s to your financial health!