Everybody probably already knows that overeating, drinking too much or never exercising isn’t the best for your health. While you don’t necessarily see the consequences or the costs today, it can add up in the unforeseeable future.
You may not think about your health affecting your finances, but unfortunately, if you live an unhealthy lifestyle, it will sooner or later.
The Hidden Costs With Cancer
Take cancer, for example. Did you know that more than 50 percent of the cancers out there are due to avoidable life choices? Smoking, of course, it the larger culprit, but so is your daily diet and weight. Similar medical studies have found these three culprits have been linked to not only cancer, but diabetes and heart disease as well. Cancer drugs alone can cost $10,000 or more per month, and this doesn’t even include the doctor’s visits. Even if you had a good health insurance policy, you could still be spending thousands. While all cancers are preventable, many are if you choose a healthy lifestyle.
You’re Losing Big Money When Smoking
According to a recent study at Rutgers University, they had found that non-smokers had a net worth two times the amount of a heavy smoker.
The study had found smokers often find themselves frequenting the doctors’ office and paying higher medical expenses due to their poor smoking habits. Plus, the high costs of cigarettes can cost them thousands per year. Quitting smoking on its own could save you close to $10 per day and even more if you prevent a serious cancer in the future. For a second, just think about what you could do with that extra $3,000 in a year? Maybe a vacation? Invest in your future? Build your emergency fund?
Smoking won’t affect your health, either. 19 percent of children who had a cold or lung infection were linked to that of secondhand smoke, costing a family even more in medical costs.
Smoking isn’t the only thing that could cost you in the future. The same could be said about a poor diet. While fast food and eating a restaurant can be convenient, it’s often a lot more than cooking at home. Plus, these foods are often loaded with more salt, fat and sugar, leading to weight gain, which, can lead to more negative consequences in the future such as type 2 diabetes or even affecting your insurance rates. Type 2 diabetes alone can cost $500 to $900 per month without any insurance.
Also, if you were to want a life insurance policy, they would base your rates on your current health condition. Those who are overweight will often pay much more than someone who is healthy. In fact, if the insurance companies believe you’re not healthy enough to insure, they will flat out deny you, leaving your family with nothing if you were to pass away.
Plus, not only will health eating increase your lifespan by more than 10 years, it could allow you to pass on even more money to your heirs since those extra 10 years could compound interest.
As you can see, living an unhealthy lifestyle could result in some pretty extreme financial consequences. Whether it’s thousands of dollars at the doctor’s office or saving $10 by kicking your cigarette habit to the curb, consider healthy lifestyle choices to hopefully pad your bank account even more in the future.[This is a guest post by Stephanie, the co-owner of HowMuchIsIt which was started to help consumers pay a fair price of the unknowns in life]