Frugality and Your Health
Frugal behaviors and healthy living go hand and hand, according to the April First Command Financial Behaviors IndexTM and recently reported in The New York Times. The Index, commissioned by First Command and conducted by Sentient, examines financial behaviors, attitudes and intentions among U.S. consumers ongoing since February 2008. While there’s little doubt that the recession has had a negative effect on health by way of increasing stress and anxiety and other such ailments, there is evidence that recessionary behaviors may actually be improving Americans’ health. The April First Command Financial Behaviors IndexTM reports that nearly one-half of Americans (49%) believe that their frugal behaviors are making them healthier, and an additional 45 percent believe that at least some of their frugal behaviors are making them healthier.
This finding suggests that there is a strong link between fiscal responsibility and health.
Americans report feeling healthier due to a variety of frugal behaviors, including:
- Cooking at home more often (45%)
- Spending less on junk food (30%)
- Reducing driving costs by riding a bicycle or walking to work (13%)
- Reducing alcohol purchases (10%)
- Growing their own food (7%)
Moreover, consumers using professional financial help are less likely to experience physical and mental health issues than those who are not utilizing professional financial help. These Americans are also less likely to put off visits with their doctor. The results suggest that fiscal responsibility – whether it’s cutting back and/or working with a financial professional – provides a buffer to health concerns during an economic slump. Americans who commit to frugal living feel more financially secure and optimistic about their future, and report greater fiscal and physical health.
For more information about the First Command Financial Behaviors IndexTM, please visit their website.
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