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MOA Accounting tax and financial consultants: Study Shows Wealth and Health Go Hand In Hand

tax and financial consultantsMOA Accounting tax and financial consultants know financial security is on everyone’s mind, no matter where they’re at in life. It’s where young and old want to be, never worry about money, knowing bills will be paid on time and emergency funds are existent. It’s no surprise that when people are financially secure, they experience less stress which of course impacts how they feel and act on a day-to-day basis.

Health and wealth are connected in more ways than one. People tend to think that more financially secure people are healthier because they can afford better healthcare, but that’s not the (only) case. Financial security can boost mental health and well-being too.

Research from the Canadian Medical Association recently unveiled the results from a health and wealth study.

According to the CMA research, 66% of people who earn at least $60,000 reported their health as good or excellent. Of those who made less than $30,000 a year, only 40% reported good health. MOA Accounting tax and financial consultants learned that 46% of the study’s respondents with less than $30,000 stated they spent less time, money and energy maintaining their health.

miami beach tax and financialWealthier people have healthier habits, which furthers the findings of the CMA study. People with greater income seem to work harder on their self-improvement. They meditate, exercise, read, write and take time to find work-life balance. In fact, according to the Journal of Labor Research, a 2012 study showed people who exercise earn on average 9% more than less active colleagues. They also live longer! According to a 2016 study, wealthy people in the U.S. were found to live on average 15 years longer than their very poor counterparts.

They also drink less alcohol and eat better. Wealthier people focus on whole foods including fresh produce and lean meats. The author behind Rich Habits: The Daily Success Habits of Wealthy Individuals says 70% of wealthy people he studied ate less than 300 calories of junk food a day. According to the CMA study, tobacco use is more popular with poorer households (33%) compared to 10% in wealthier households, which of course further impacts their health.

There are positive financial changes that people can make to work toward their goal of getting healthier.

For example, creating a financial vision board can help. This helps people literally see their and realize their money goals. The main idea is to set precise, manageable and reachable goals on your board. Those can be setting aside a specific amount every month to pay a debt, it can be saving for a dream vacation, creating a fund for a future down payment on a house, whatever you like.

Financial security MOA Accounting tax and financial consultantsMOA Accounting tax and financial consultants, how to creating a financial vision board.

Pick lively, inspiring pictures that you enjoy for your vision board. Pick motivational imagery from magazines, or even print some from online. Go all out by using markers, glitter, stencils, whatever will make your financial vision board a beautiful representation of your plan to financial security. Last but not least, pick a great spot to hang your art. Somewhere you pass by every day to remind you of your plan. It can be on an office wall, on your refrigerator, whatever works best for you.

Financial security is more than just about staying out of debt or living an opulent lifestyle. In these modern times, being financially secure is about health. If you need help with your financial affairs, reach out to MOA Accounting tax and financial consultants for immediate assistance.

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