Table of contents
Did you make a New Year’s Resolution to get Financially Fit in 2018? - featured image
By
A A A

Did you make a New Year’s Resolution to get Financially Fit in 2018?

What were your New Year's resolutions for 2018?

I know many are related to health and money, so how many have you broken already?life-insurance-health-iou-jar-money

Well... my resolution of eating more healthily didn't last long.

But according to a recent survey by finder.com.au one third of Australians are hoping to reduce their stress in 2018.

Their survey of 2,017 Australians on their top health goals for the year ahead, and found the top health priority for 2018 is to reduce stress (33%), and the second highest priority was to improve sleep quality (32%).

Bessie Hassan, Money Expert at finder.com.au, says with the average credit card balance coming in at $3,062 and house prices sitting at seven times the average household income, it’s no wonder so many Aussies are losing sleep and want to reduce their stress in 2018.

“Financial stability is one of the biggest contributing factors to our mental health and wellbeing. With a national credit card debt of $51 billion and house prices skyrocketing, many Australians are likely to be experiencing rising financial pressure.”

Women also seem to be more stressed out than men, with 41% looking to relieve stress in 2018, compared to 25% of men.

“We know women are less likely to have a savings safety net in the bank and are more likely to be underinsured, which all contributes to financial stress.”

Top tips for improving both your finances and fitness in 2018:

  1. Ditch bad habits.
    A whopping one in ten respondents (9%) plan on giving up smoking in the New Year. By giving up smoking not only will you save money you’d usually spend on cigarettes but you can also halve your life insurance premium.
  2.  Make money counting your steps.
    Some health and life insurance brands will offer discounts and incentives such as bonus frequent flyer points to members for using fitness trackers and wearables.Spend Money
  3. Are you paying for health cover you don’t need?
    Only 6% of Australians plan on reviewing their health insurance in 2018. You can save hundreds of dollars each year by switching health insurance policies, and making sure you’re on the right level of cover.
  4. Save on your gym membership.
    Many health insurers reward loyalty with gym membership discounts, and you can often claim for fitness classes such as yoga or pilates on your extras policy, particularly if they’ve been prescribed by a medical professional.
  5.  Clear your debt to get more sleep.
    Consolidate your credit cards and personal loans, create a budget, and set up a regular savings account to reduce those sleepless nights spent worrying about money.

“Stress can be a huge hindrance and can even create long term health issues. The New Year is a good time to reduce factors contributing to your stress levels, and take up an activity that will help you improve your mental health and encourage better sleep quality,” said Ms Hassan.

“If you feel as though symptoms of stress are affecting your everyday life and you need help to manage them, it’s important to seek professional advice.”

About Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and one of Australia's 50 most influential Thought Leaders. His opinions are regularly featured in the media. Visit Metropole.com.au
No comments

Guides

Copyright © Michael Yardney’s Property Investment Update Important Information
Content Marketing by GridConcepts