Already slacking on your New Year’s resolutions? You’re not alone. The Washington Post reports that within the first week of January, a quarter of us give up. If you’re struggling to stick to your resolutions, consider the positive financial impact of many health and wellness resolutions for added motivation.
If you’re a smoker resolved to kick the habit once and for all, you’re aware that smoking is as damaging as it is expensive. On average, cigarettes cost $5.51 a pack. At a pack a day, you’re spending $2,011 a year on cigarettes, double or triple if you smoke two to three packs daily. How else could you save or invest that money?
Additionally, smoking is linked to a plethora of health problems, including heart disease, lung cancer, and strokes. Deteriorating health isn’t just physically and mentally devastating, but terribly expensive. For instance, the average lung cancer patient can expect bills up to $46,000 while out-of-pocket expenses vary depending on the patient’s insurance.
Get More Organized
Getting organized? Whether it’s your home, car, office, or all of the above, decluttering your life provides tremendous financial benefits. A messy life is also a costly life. For example, misplacing a monthly bill can result in late fees, service interruption, and possible reconnection fees.
How many times have you lost a receipt for an item you want to return, or a coupon for a desired purchase, only to find them later on, once it’s too late? Getting organized solves these problems and saves you money.
Eating right and exercising can add new expenses to your budget. Gym memberships and healthier food choices can sometimes be costlier, but not always. For example, if you’re dining out, save half of your meal for lunch the next day. You’ll eat less and spend less.
Also, remember that exercise doesn’t have to cost you. If you require a gym membership to stay motivated, so be it. Just remember that you can also run or hike outside, play a sport, or stream free workouts online. No matter what, investing in your health is a smart move as being overweight is linked to a slew of health problems.
Yes, traveling costs money: so how can the resolution of “travel more” improve your finances?
First, remember that travel doesn’t have to break the bank. A quick road trip to a nearby city counts, especially if you’re prone to workaholism and bordering on burn out. By following a resolution to travel more, you will boost productivity and creativity and return to work supercharged. Anything that improves productivity will help your career, which in turn can help your finances, too.
What New Year’s resolutions did you make this year? Are you keeping up with them?