As you seek additional sources of income to traverse today’s economic waters, you’ll want to make sure you adopt a good savings culture.
Saving is one way to give back to your financial coffers; and while you are probably thinking about the 50/30/20 rule or cutting down your energy use, the farthest thing from your mind might be health as a form of savings.
As they say, health is wealth. Do you know how much you could save by simply staying healthy? A lot. In the UK, the health expenditure made up 9.78% of the GDP IN 2015. In the same year, health expenditure per capita increased from £1,868 in 2010/11 to £2,057.
Think about the implications on the average household budget. You’ll discover, you are better off staying healthy.
Here are a few ways you save money by staying healthy- when you can help it.
Save money by cutting expensive vices
Do you smoke or drink excessively? Vices such as smoking, drug abuse and indiscriminate consumption of alcohol, are ultimately responsible for certain health complications ranging from lung cancer to heart diseases. Treatment for these ailments are typically expensive and sometimes hard to come by.
Even with a robust health insurance, you’ll be using up cash reserves that could have gone into happier uses such as a vacation. Stay healthy and save money by cutting your needless vices.
Save money on clothes
How often do you go through various clothes sizes? If you find yourself needing a larger size apparel now and a smaller one few months later, you might want to put a check on things. Changing clothes sizes regularly means spending more each shopping trip. It is hard to maintain a stable cash flow on such fluctuations.
You can save money by maintaining a particular size all year round. Whether you are a size 8 or 14, keeping your weight and size consistent not only means manageable expenses, but keeping your clothes longer.
Save money on transport
How do you commute to work? If Katie Melua’s song is anything to go by, there are “9 million bicycles in Beijing”. Incidentally, it’s not surprising that China has the longest living people in the world. By shirking your car on some days and cycling instead, you can save money on fuel and work your fitness levels.
You’ll also spend less time (and money) at the mechanic if you give your vehicle some breathing space. Even bus rides are not as healthy as jogging to the store. Overall, you are putting money back into your wallet.
Save money on medication
In a report released by Public Health Agency of Canada, people aged 18 to 64 years who are actively involved in physical activity will reduce risk of sickness by 25 chronic health conditions. They include high blood pressure, heart disease, and diabetes (type 2).
Keeping sickness at bay means less money spent on medication for chronic ailments each year. You can also boost health conditions by adding regular sleep to your exercise schedule.
How much are you spending on your health? It’s time to start saving unconventionally.