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Few people like being told when they’re wrong. We don’t eat enough healthy food, we don’t exercise enough, we don’t drink enough water. The list goes on. The truth is, we know where we fall short, but we don’t always have the motivation to make big changes.
But what would you think if I told you that even small changes can make you healthier and keep more money in your savings account at the same time?
you might earn more
A study in the Journal of Labor Research found that people who exercise regularly earn between 6% and 10% more than their co-workers. The researchers defined regular exercise as engaging in at least 20 minutes of physical activity at least three times a week. That’s only 60 minutes a week.
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You don’t have to enter a bodybuilding contest or run a marathon to reap the benefits of exercise, but the more you engage in exercise, the greater the potential benefits.Research shows that there is a correlation between exercise intensity and volume. more you earn The findings were categorized as follows:
- Study participants who engaged in low-intensity training earned an average annual income of $54,000.
- Participants who participated in moderate-intensity training earned an average of $67,000 per year.
- And participants who participate in high-intensity training bring in an average of $83,000 per year.
It’s natural to wonder if high-income earners are naturally inclined to push themselves in all areas of life. It’s also natural to wonder whether higher income earners have more control over their time, and whether having more control means they have time to go to the gym or Pilates studio.
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You can save a lot of money after retirement
Exercise can save you money when you need it most.according to new york times A 2021 article, “People who start exercising before or during middle age typically save $824 to $1,874 annually in health care costs in retirement.”
Splitting the difference, let’s say a person saves $1,300 a year in medical costs by making small changes to their exercise habits and diet. If they retired at age 66 and lived to age 86, they could have invested, saved, or simply left an additional $26,000 to cover funeral expenses.
More importantly, it increases your chances of reaching retirement. According to a report from Rutgers University, people in poor health die at a younger age. In fact, many people don’t live long enough to collect the Social Security and pension benefits they’ve worked for their entire adult lives.
And again, small changes can make a difference. Research from the University of Michigan shows that doing something as simple as eating a hot dog can cost you 36 minutes of healthy life, while choosing to eat one serving of nuts can cost you an additional 26 minutes of health. I found out that it is possible to have a good life. The healthier you are, the less money you spend on health care and the more money you have to spend how you want.
small changes add up
Whenever you make a change in your life, it’s the details that count. This is a sample of how much you can save by changing just a handful of the thousands of decisions you make in an average week.
|
change |
Average weekly savings |
Annual savings |
|---|---|---|
|
Save $4 per day currently spent on junk food and alcohol |
$28 |
$1,456 |
|
Replace meat with a healthy alternative protein source (such as beans, lentils, peanut butter, chickpeas, or quinoa) twice a week |
$ 10 |
$520 |
|
Instead of paying for a gym membership, exercise outdoors or at home using a streaming service |
$9.23* |
$479.96 |
|
Full Grocery Store |
$ 10 |
$520 |
|
Divide one large portion into two meals at least twice a week |
$ 10 |
$520 |
|
total |
$67.23 |
$3,495.96 |
Data source: Author calculations. *The author used an average cost of $15/month for streaming services and $55/month for gym memberships.
Through the accumulation of small changes ($3,495.96) How much can a person save by kicking a $7-a-day smoking habit? ($2,555) Replace two fast food meals a week with home-cooked meals ($520)the final total potential savings are $6,570.96. It can be a huge boon to your personal finances.
Some of these changes may fit perfectly into your routine, while others may not be a perfect fit for you. The ultimate goal is to create a list of small changes that you can stick with. It’s a change that will make you healthier and maybe a little richer.
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