Building wealth through health and wellness

A strong body and a sound mind can do more than provide peace of mind — they also protect financial stability.

Around the world, people work long hours in the hope of reaching financial freedom. Yet, when health problems arise, the medical bills that follow can quickly erase years of savings.

Health and money are closely connected. A person’s condition affects income, decision-making, and overall financial security. When health declines, expenses rise, from medical consultations to higher insurance payments. On the other hand, staying healthy helps maintain earning potential and clear thinking, both of which are important in handling personal finances.

The price of poor health

Chronic conditions such as diabetes, hypertension, and heart disease can drain a person’s savings faster than expected. Regular medical appointments, costly hospital bills, and maintenance medicine take a large share of one’s income. For many families, these expenses pile up quietly until they become a heavy burden.

The financial strain worsens when poor health begins to interfere with a person’s ability to work. Someone who is frequently ill may be forced to take unpaid leaves or even retire early. A business owner dealing with constant fatigue or pain might also struggle to keep up with daily operations that might cause a slowdown in productivity.

As health conditions worsen, insurance premiums rise as well, which adds another cost to a household already struggling with medical payments and daily needs. Some families try to cut back on food, utilities, or other essentials just to afford treatments. The situation becomes a cycle that links illness and money problems together.

Health affects more than physical performance. It also influences mental clarity, which shapes financial decisions. A person who sleeps well, eats healthy meals, and exercises regularly tends to make wiser choices about spending and saving. With a clear mind, they are less likely to make impulsive purchases or take on unnecessary debt.

Meanwhile, stress and fatigue can cloud judgment. People who are physically drained may spend more on convenience, such as skipping meal preparation or buying quick fixes for comfort. Such small expenses often build up without notice, weakening long-term financial plans. Poor health can make a person rely on temporary relief instead of discipline, which harms both savings and stability.

Leading longer, healthier lives

Peter Muennig, a professor of health policy and management at Columbia University’s Mailman School of Public Health, found that even a modest increase in income can make a measurable difference in a person’s well-being. The research suggests that an annual rise of $5,000 can lead to noticeable improvements in health and longevity.

Mr. Muennig explains that people who are financially secure tend to make healthier decisions because they are not constantly worried about expenses. They can afford better food, access preventive medical care, and have time to rest instead of pushing themselves beyond their limits.

“If you’re financially secure with a retirement account that’s doing well, you will probably feel more comfortable shopping at a ‘natural foods’ supermarket, and you might not take a side job or work overtime, leaving more time for exercise. Less stress, a good diet, and exercise means that you will likely age more slowly than you otherwise would have,” he said in a statement.

The idea ties financial stability to freedom of choice. People who are not burdened by financial stress can focus on maintaining a balanced lifestyle. These decisions, while simple, build habits that strengthen long-term health.

Money, according to the expert, does not directly buy health, but it can shape the environment where good health is possible. Someone living paycheck to paycheck might skip medical appointments or choose fast food because it costs less. Over time, these small sacrifices can lead to higher stress levels and health problems such as hypertension or diabetes.

Stress also plays a large part in many chronic illnesses. When a person worries about bills, debt, or unstable income, the body reacts by producing hormones that raise blood pressure and weaken the immune system. Over time, the constant strain can speed up aging and increase the risk of disease.

Breaking the cycle

Financial struggles do not just affect a person’s wallet as they can weigh heavily on mental health, too. Oscar Jiménez-Solomon, a research scientist at the New York State Psychiatric Institute, found that individuals with high debt compared with their income are more likely to experience depression and even suicidal thoughts.

In his study, Mr. Jiménez-Solomon explains that financial problems go far beyond unpaid bills and numbers on a page.

“Indebtedness creates two experiences that can be fairly lethal,” he explained. “One is a sense of uninterrupted hopelessness, feeling like there’s no way out and feeling trapped. The other is shame, which is very isolating.”

The researcher noted that many people keep their problems to themselves, afraid to talk about money or ask for help.

“People walk around with secrets and feel not worthy of support,” he said. “Economic difficulties are often viewed as personal failure, not as circumstances that can be managed.”

However, Mr. Jiménez-Solomon pointed out that taking small and realistic steps can help restore hope.

“When people have a plan, hope can begin to increase,” he added. “Having a sense that there’s a way out of your situation can have an important financial and mental wellness impact.”

For instance, setting goals and building a simple financial plan can help people regain a sense of control. The research also shows that having a clear plan boosts confidence and helps individuals work toward long-term stability, which supports better emotional and financial health.

“Having the support of someone you trust can make a big difference,” he said. “It can encourage people and help them stay motivated to keep working on their financial situation.”

Experts also note that financial wellness programs can support both financial and physical health. These programs often include savings plans, debt management assistance, insurance plans, and counseling services that promote stability and confidence

“Employees who maximize their optional retirement savings and invest in a health spending account are much more likely to achieve a healthy old age than those who do not,” Mr. Muennig said. — Mhicole A. Moral