How Investing in Your Health Today Can Save You Money Tomorrow

Ross Quade | Insurance | 18 Jun, 2014 | No Comments

Being healthy and fit can benefit you in many ways; it gives you a longer life, gives you more energy and reduces your risk of disease for starters. Among all of these, making healthy lifestyle choices also lends to a healthy bank account through a number of different ways. Although you may have the misconception that being healthy is an expensive habit, this is far from the case. You do not need to buy expensive health foods and get a personal trainer. All it takes is some simple lifestyle changes to get you on your way to saving money.  Here are a several ways that a healthy lifestyle allows you to save money in the long run.

Save Money on Medication and Healthcare

A study done by the Public Health Agency of Canada found that people between the ages of 18 and 64 who do some form of physical activity lower their risk of chronic health problems, which include high blood pressure, heart disease and diabetes. Keeping sicknesses at bay means a less expensive health care bill and fewer trips to the pharmacy. This means that you will be spending less money on medications and health care visits for chronic health diseases each year. Additionally, healthy lifestyle changes are also linked to better sleeping habits, which in turn helps save money on headache medicine and sleep aids.

Save Money on Life Insurance

Having health problems makes it difficult to purchase life insurance. Heart disease, diabetes, and high blood pressure are among the numerous conditions that make life insurers increase your rate. By making healthy lifestyle choices to ensure that these health problems don’t develop, you will keep your premium at a reasonable rate. In fact, even if you already have a medical condition that causes your life insurance rate to be higher, an insurance underwriter will be more likely to lower your premium if you work to improve your health and show changes in your habits.

Save Money on Health Insurance

By working to become healthier by doing things like putting down cigarettes and losing weight, it will translate to less doctor visits and health conditions. This in turn will lead to health insurance providers giving you a lower premium. Although under the healthcare reform, life insurance providers are not permitted to increase your premium due to your health status, they are able to charge you as high as 1.5 times that of a healthy individual.

Cut Down on Your Transport Costs

Gas, parking and car maintenance are all expenses that can be reduced by changing your lifestyle. By switching from driving or even taking public transportation to bike riding or walking not only can you implement exercise into your life, but you can also save a substantial amount of money on transportation costs. For example, by walking your kids to school instead of putting them into your car you can save a great deal on gas money and get the whole family exercising.

Save on Your Food Bills

By switching out processed and pre-packaged foods for cooking homemade meals, you can significantly lower the cost of your grocery bill. For instance, the price of a can of soup that lasts one day can buy the ingredients to make five days worth of soup.  Additionally, switching from expensive and unhealthy takeout food to home cooked meals can save you a generous amount of money on food, as it usually costs between two to five times as much for takeout as for home cooking. On top of this, a takeout meal is usually at least twice the amount of calories.

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