Money troubles can be a problem for your physical, mental and financial health. Find out how taking control of your finances can help you feel better.
Many of us are no strangers to financial stress. In fact, a full 45% of Canadians surveyed for the Sun Life Financial 2016 Canadian Health Index reported feeling an uncomfortable level of stress over their household finances. That mental burden can hinder your performance at work, strain your relationships and threaten your physical health.
“A certain amount of stress is important,” says Dr. Donna Ferguson, a psychologist at the Centre for Addiction and Mental Health in Toronto, who notes stress is essential for our fight-or-flight instincts. “But once it goes beyond a certain point, it can be harmful.” And some of the health complications linked to stress can be life-threatening.
That’s why being smart with your money isn’t just about financial security, it’s also an important part of healthy living.
4 health benefits of smart financial decisions
Here are 4 ways that making smart financial decisions can benefit your health — and 4 steps to take toward financial, physical and mental wellbeing.