Romans 13:8 says, “Let no debt remain outstanding, except the continuing debt to love one another, for whoever loves others has fulfilled the law.” There is wisdom in this concept of getting out of debt. Finances and health are connected. Headaches, backaches, anxiety and depression affect health, especially when a person worries about not having enough money to cover their bills. Finances can affect physical, emotional, and mental health so setting financial goals can improve health.
Personal Story
“We’re debt free!” I have heard this sentence exclaimed many times as I have listened to The Dave Ramsey Show podcast. I’ve had tears in my eyes as I’ve heard people’s stories of the financial freedom as they celebrated paying off their consumer debt, college loans, medical bills or other loans. The ones that were incredible to me were the people who had paid off their houses. This is a financial goal that can bring peace and a healthier life.
Physical
Health benefits come from accomplishing financial goals:
- Stress on a body can come from financial hardships a person experience. It can lead to many serious physical conditions such as depression, heart disease, obesity, and stroke.
- Having success in financial goals can help people see improvements in their other health goals, since accomplishing something in one area of life often created confidence to progress in other areas.
- When there is enough income to meet basic expenses, you can often loosen your budget to include higher quality foods that that feed your body. This could possibly prevent health problems from developing in the future.
Emotional
Emotional benefits come from accomplishing financial goals:
- Saving money for a rainy day increases happiness.
- Having sinking funds reduces worry about how to pay bills and creates a calm that spreads to others.
Mental
Mental benefits come from accomplishing financial goals:
- Worry occurs when there isn’t enough money to pay the bills and meet basic needs such as food, shelter, basic clothing, and basic transportation. Then, worrying affects a person’s ability to manage their money correctly.
- Get control of worry by making financial goals.
Financial Goals
Setting good financial goals is one way to improve your overall health. Dave Ramsey’s 7 Baby Steps are good goals to implement.
- Baby Step 1 – $1,000 to start an Emergency Fund
- Baby Step 2 – Pay off all debt using the Debt Snowball
- Baby Step 3 – 3 to 6 months of expenses in savings
- Baby Step 4 – Invest 15% of household income into Roth IRAs and pre-tax retirement
- Baby Step 5 – College funding for children
- Baby Step 6 – Pay off home early
- Baby Step 7 – Build wealth and give!
Start with a small goal, Baby Step 1, and work your way through them in order. You’ll find your sense of well-being improving as you make progress. For more information visit: https://www.daveramsey.com/
Action
Make a financial goal today and begin to experience better health.
Resources:
May God bless your healthful endeavors!
Joni
P.S. What experience do you have with this?
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