Weekly Financial Reminder To Exercise

A 15-minute jog in the park, streaming a spin session on YouTube, or a bike jaunt through the woods – exercise makes us feel better, energized, and helps us to live healthier lives. There’s another benefit we’d like to add to the list of things a good dose of exercise can improve – your financial health.

Apart from the obvious, the more time you spend on the treadmill, the less you can spend shopping. (I’m kidding), there are many ways how exercising can improve your personal finances and make you better at managing your finances.

The clarity to make good decisions

Ever notice how clearheaded you feel after a vigorous workout? We learn and think better once we get the blood flowing. Experts say that aerobic exercise even helps cognitive health as we age. We make decisions about money almost every day, from how much to spend on an item at the grocery store, to whether to buy a Darth Vader mug. A sharp mind throughout the day helps make choosing your options to seem more clear-cut. When you have bigger decisions to ponder, there’s nothing a long walk won’t help sort out.

Replaces the need for retail therapy

When feeling a little blue, it can be tempting to buy something to lift us from our stupor. This kind of pick-me-up can be expensive. A recent study by The Journal of the American Medical Association suggests that running 15 minutes a day or walking for an hour can boost your mood. When you feel better about yourself, you avoid reaching for your wallet.

Practice Goal Setting

Saving for college, paying off a loan, managing a monthly budget – a solid financial strategy is about establishing and accomplishing goals. This is a learned skill and practice makes perfect. Exercise allows you to set and achieve goals without the added weight of economic consequences. Practice setting short-term goals around an exercise routine. Once you’ve achieved one or two of them, and see how you are able to succeed, your financial goals don’t seem so far off.

A free entertainment alternative

Investing in spin classes or a gym membership can be a strategic investment in your health. But, exercise doesn’t have to cost you a thing. For example, there are many free hiking trails throughout the Portland, Scarborough, and Augusta areas. Once you get hooked on your favorite form of exercise, you’ll spend more time doing it, replacing other activities and hobbies that require you to spend money.

Opportunity to think about the big picture.

Exercise pulls you away from your daily routine. Without daily distractions, there’s an opportunity for you to think about the big picture. Exercise with trusted friends, family members, your spouse, or a life partner. It’s possible that your conversations will turn into things you’d like to see happen in your lives. When we allow ourselves to dream big, actionable strategies result, and life goals are fulfilled.

Oh and an increase in Salary

Some studies have shown that exercising regularly can lead to an increase in your salary? If you think about it, this correlation makes sense because it demonstrates that the type of person who makes exercise a habit can use those same positive attributes to increase their earning potential. For one, those who exercise regularly may wake up earlier, therefore getting more done and increasing their productivity. It can also result in higher energy levels, which increases the amount of work someone can get done. Though there isn’t a clear link, more energy may indicate that think on your feet a lot more, offering chances to impress colleagues and those who make salary decisions. Plus, if you’re willing to exercise regularly, may show that you’re disciplined and willing to do what it takes to achieve your goals.

Listen to the data  

A 2015 study found that “poor physical fitness goes hand in hand with poorer financial health.” Of those surveyed, 34 percent with below-average finances were also self-described as unfit. Versus the nine percent of people with above-average finances. So, what’s the correlation? According to a recent Forbes article, financial stress can cause a negative feedback loop that impacts fitness and health. The more stressed someone is about finances (about 26 percent of Americans at any given time), the less time they spend on their physical health and the more money they spend on healthcare and other related issues.

Further, unhealthy habits are a big part of the negative feedback loop. When your physical fitness is down, you’re more likely to spend time and money on things like cigarettes, alcohol, and stress shopping. The average American spends about a dollar of every hundred earned on alcohol and other unhealthy habits. On the flip side, those that make physical fitness a priority tend to lower risk for over 25 health issues requiring expensive medication and spend less on healthcare in general. Plus, physical fitness can break the negative feedback loop by lowering stress and leading to positive habits––like the 69 percent of people who eat healthier when they have enough money and, ultimately, invest in their health.

So this is your weekly motivation to exercise, because you should - and this week it is for for your financial health.