Why Prioritizing Financial Health Leads to Overall Well-Being

03 January 2020

What does it truly mean to live a healthy lifestyle? Most people would give answers like sleeping at least seven hours a night, eating a balanced meal, or going to the gym regularly. While these are all correct, physical health is but one of the four elements of a person’s total well-being.

There’s a whole lot more to consider when it comes to ensuring you’re leading a well-rounded lifestyle. In this article, we’ll touch on the different factors that make up a person’s overall well-being and talk about how financial health plays a crucial role in dictating your quality of life.

The Four Dimensions of Well-Being

Four unique factors influence the state of a person’s welfare, namely the following:

Physical Well-Being – Perhaps the most commonly referenced aspect of well-being, this dimension pertains to one’s physiological health and the measures taken to improve it when needed, such as exercise, medication, or rehab from injuries.
Emotional Well-Being – This refers to one’s emotional state, including mental health, stress management, and dealing with triggers and life crises. The more resilient a person is, the more stable their emotional well-being is.
Financial Well-Being – Financial well-being refers to fiscal security and stability. This is often expressed through having a stable job, sufficient savings, life and health insurance, and contingencies for retirement.
Social Well-Being – Last but not least, social well-being is measured by finding relevant support groups, connecting with like-minded individuals, and collaborating or contributing to these functions.

One important factor that ties these four dimensions together is financial health. Being financially secure can help you focus on other parts of your welfare, such as having the funds to make healthier lifestyle choices and not having to stress over debts and the like.

Below are different ways that prove that financial health is strongly linked to overall well-being, as well as tips that can help you improve the state of your financial health.

Financially confident people are generally more emotionally healthy.

Emotional stress can take a toll on many different aspects of your life. If you’re not in a good mood, this affects your relations with other people, and even manifest as a health issue physically. Finances are a significant contributing factor to emotional stress, such as the pressure of not being able to pay bills on time and the constant worry of being able to afford subsequent needs.

However, if you’re financially independent, these things won’t be much of a problem. The burden of these thoughts won’t even enter your mind. You can start this by sorting your funds into the following categories: savings, spending, and emergency. Doing so will help you develop your financial responsibility and give you the peace of mind that you have money in the bank on a rainy day.
Physically healthy people have lower medical costs.

You’ve probably heard of the saying “prevention is better than cure.” Some people tend to sweep their health under the rug and only make lifestyle adjustments when they’re already sick. However, medications and other forms of physical rehab are much more costly than, say, investing in a gym membership.

Once you find a physical activity that you thoroughly enjoy, make the time and effort to enroll in a couple of classes a week to keep your body in tip-top shape. Don’t forget to prioritize your physical well-being, as sick days can eat up the time where you can be most productive. Invest in a viable health insurance plan like BPI-Philam’s Critical Care 100 that can give you a financial cushion for health emergencies.
Financial health enables people to live their life freely.

With no monetary constraints, financially secure people can choose to lead lives that are fulfilling to them. This includes pursuing jobs where they can have the most career satisfaction, starting passion projects and businesses, and exploring opportunities that are non-limiting. Besides the liberty of choice, financial freedom also translates to freedom from overall financial stress.

Having mixed income is a great way to start feeding both your career goals and passions—as long as you have the time and energy to spare. Be smart in identifying opportunities where you can invest your time and skills in for growing your financial assets in the future.

It’s Time to Focus on Financial Health

When it comes down to it, taking care of your financial health is similar to taking care of your overall well-being. This isn’t just a nice-to-have, but rather, a must-have. Saving money, being wise with your expenses, and investing in proper insurance vehicles are some of the best ways to attain this as you continue to achieve your dreams and goals in life.

To learn more about how BPI-Philam can help you attain stable financial health, you can talk to our bancassurance sales executives in any of our 900 BPI branches nationwide.

Did you know?

You can buy a life insurance at any BPI branch nationwide! Talk to a bancassurance sales executive now!

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Protection

Get the power to protect yourself and your family with an affordable life insurance plan. Life Ready Plus is easy on the budget, but offers coverage of up to 30 times your yearly payment to support the financial needs of your loved ones.

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Health

Critical Care Max will help you make more memories by providing financial aid during the early stages of a critical illness. This unit-linked life and health insurance plan offers assistance on your recovery. You can build a health fund that grows over time, depending on your chosen investment, to pay for other medical costs.

In addition, it comes with a hospital confinement benefit that will replace lost income due to hospitalization. This daily cash benefit may also come with optional benefits like cash payout for surgery-related expenses, allowance for consultation fees, and many others.

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Life Protection

Let your loved ones enjoy the fruits of your labor even when you’re no longer around. Build Estate Plus is a unit-linked protection plan that will cover your estate taxes after your passing so that you can ease your family’s burden.

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Health

Be in good hands in times of sickness. Let Critical Care Plus, a unit-linked health and life insurance plan, take care of you with financial aid in case of a major illness, so you can focus on getting better and spending more time with your loved ones.

It even gives you more benefits for having good health through the AIA Vitality program that adds 20% upfront coverage and supplemental benefits on your policy.

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Why Prioritizing Financial Health Leads to Overall Well-Being

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