You have two options in life when it comes to your lifestyle. Spend what your make or save and invest. While the former is fun while it lasts, the latter sets you up for the future and provides the mental and emotional stability the breads happiness.
In fact, a study conducted by Northwestern University found that 24-32 year old adults who had larger amounts of debt also had elevated diastolic blood pressure. This is an example of a direction correlation between financial and overall health. Stress, and the impact on your mental state, is the other factor caused by financial unhealthiness.
The good news is that there are a number of ways to improve the health of your bank account and your body.
Evaluate What Got You There
As with any problem you face, the first step should be to determine what went wrong. When it comes to your lifestyle, many times that’s evaluating how and where you’re spending money. Every time you swipe your card your bank account is hemorrhaging cash, your credit cards are accumulating interest and you most likely feel out of control. Cut up your credit cards and freeze your bank account except for the necessary bills you need to pay. Taking back control of your lifestyle will start to give you the mental stability you’ll need to deal with the wreckage you’ve caused by an over-indulgent lifestyle.
Get Some Help
Lifestyle choices directly impact how productive you are, your relationships, job performance as well as mental and physical health. For many of us, it’s difficult to get out of a bad cycle by ourselves. That’s where finding the right people to talk to can make a huge difference in your life.
As you start to focus on your overall lifestyle you may identify the factors that are negatively impacting your life. These could include what you eat, alcohol consumption, sleep deprivation and fitness. Start by treating your body as a temple and then consider speaking to a professional about what is leading you to make these poor life decisions. Resources like Psychology Today’s Therapist Directory is a good place to start searching in your area.
If you’re in a financially precarious position due to lifestyle choices, it’s probably safe to say that finances aren’t your strong suit. If that’s the case, then getting help is crucial for financial freedom. The best option for help is to consult a certified financial planner.
Compile a list of at least three credible choices that you can interview with. Look at each advisor’s qualifications and their experience level. You don’t want to be anyone’s guinea pig, no matter how nice they are. Are they a fiduciary? How do they get paid? Are they a registered investment advisor or a broker? What is their educational background? What professional licensing have they gone through? Do they have additional designations such as CFP or CFA? Don’t be embarrassed to ask these types of detailed questions.
If you interview your three potential advisors, research the investors reputation and find more than one that fits the bill, go with your gut. Ask a lot of questions and see what vibe you get from them. Which one do you see yourself really confiding in? Which one seems to truly listen to you? Pick an advisor who you think you can trust. Your finances are in their hands and they better be worthy of that kind of confidence. Don’t just go with the guy in the tall glass building with the fancy Italian suit. Go with your gut. It rarely leads you astray.
Anyone who has dealt with uncertainty from lifestyle choices knows the physical and mental toll it takes. You feel helpless and out of control. Your future looks bleak. There’s always hope with a good strategy and the right help.