What happened was kind of incredible. I was researching items for this blog post. I wanted to write about finances impacting financial wellness. I came across an article from Forbes from a few years ago. Boy, wow! Did it speak loudly or what? It was definitely not about what I was planning to write.But now I just have to add something about it.
Here was the headline: “Desperate And In Debt: 30% Of Millennials Would Sell An Organ To Get Rid Of Student Loans.” Really? Is it that bad? For some, maybe so. The article was looking at the results of research conducted by MyBankTracker. I have to say; it was quite surprising.
MyBankTracker asked 200 respondents a set of questions. The only answers available were “yes” or “no.” They all related to ways to get out of student loan debt. And, “yes” answers would result in a payoff of all student debt. Some of the potential actions were extreme. Well, most were extreme. But, one of them didn’t seem too bad. Would you sell half your possessions? 43% said they would do that to get rid of all student debt. From a physical wellness perspective, I think that would be an excellent choice.
Just think about it. Gone is your student loan debt. But, also absent are half your possessions. Most people have way more than what they need. In fact, their stuff adds to their stress. More things to find a place for in the house, some with monthly payments attached. And quite possibly, pick-up and cleaning involved. Getting rid of half your possessions probably ends by having a calming effect.
But, then I thought about it. If it’s true that 43% of the respondents said they would sell half their possessions, why don’t they do it? Do they want to get rid of their debt or do they like their stuff that much? Do they understand how much stress about finances influences their whole lives?
Do finances impact physical wellness? You bet they do, especially when your funds are in bad shape.At work, it takes your attention from the task at hand. And, for some people, that can be downright dangerous. Think about a person working with heavy equipment or powertools. Paying attention is paramount to safety. And, if the person is distracted and worrying about their finances, they might get sidetracked. It might be for just a second or two, but that second or two can mean the difference between staying safe or causing a catastrophe. We all know that an accident can adversely impact physical wellness. See the connection between finances and physical wellness? This is only one example.
What about stress? It’s the silent killer. Every day, people are trying to figure out ways to reduce stress. Quiet time, meditation, prayer, and deep breathing are all methods we use to reduce stress. How about adding another technique, taking responsibility for good personal finance habits? Having peace of mind that our finances are in order dramatically reduces overall stress. That has a direct and positive impact on our physical health.
Here’s one more thing about which to think. If you get disciplined about your finances, it helps with overall discipline. That could allow y
ou to have considerably more success in your physical wellness efforts. There are many documented cases of people getting on track with their finances and using that new discipline to get on track with their physical health, especially weight loss. What a one-two punch to overall wellness if you could do something like this.
Getting on track with financial wellness can be a challenge. But it’s worth it. Not only does it give you peace of mind that you’re working toward a better financial future. But, it might also help you with a better physical future. Beating such a potent combination is hard.