By Vinit Kapahi, Head of Marketing, Aviva India
When did you last review your financial situation? Perhaps when a payment notification popped up or you had to claim an expense or to analyse your annual budget? Did you think about getting your finances in order but the thought itself induced stress?
Even before COVID, people were saddled with debt. And today also, many of us struggle with managing finances.
Financial stress is a common factor that lead to heart diseases, other than high cholesterol, blood pressure, and uncontrolled blood sugar. Be it struggling to manage your children’s college fees or a down payment on your house, financial overthinking may lead to chronic anxiety.
Nobody wants a situation like that, isn’t it? Here is how to manage finances for a healthy heart on this World Heart Day.
Planning: The Heart of Your Financial Focus
As rightly said, “A healthy diet and exercise should be regarded as a tribute to the heart”. For a healthy lifestyle, exercise regularly and ensure that your diet is balanced and nutrient rich. Invest in consumption of fruits and vegetables, whole grains, seeds, legumes, nuts as well as other sources of healthy fats and also pick up a sport or form of workout like football, table tennis, squash, aerobics, karate, etc.
A rich diet and training or membership fees for sports might seem like a frivolous expense to some but the cost of treatment that may be needed in case you are diagnosed with any type of heart disease; is bound to be higher.
Just like the way you get your physical health check-ups regularly done, in a similar manner, you should do a regular check-up of your financial progress. Not only does this give you a chance to take preventative measures to ward off potential problems, but it also gives you a chance to think and introspect about the major life changes that could have an impact on your financial approach going forward. Your yearly plan review gives you the chance to make any required changes to fit new goals while also assisting you in staying on course.
Retirement Plan: The Heart of Your Golden Old Days
According to a study from the Harvard School of Public Health, retired folks have a 40 per cent higher risk of having a heart attack or stroke than people who are still employed. The rise peaked in the first year following retirement and then levelled out. Retirement may be a relief for those who had an unfulfilling job, but it is tough for people who had a strong sense of self-identification with it.
The journey of making the transition from working to retirement can exacerbate heart diseases, from chronic high blood pressure to heart attacks. Saving for future medical costs should be a part of your retirement plan, but so should preventing heart diseases too.
A good retirement is when you are not only active but also free from financial stress. Just like you put aside some money from every paycheck for retirement, you should take steps now to ensure good health in the future. After all, who doesn’t like a stress-free retirement?
Insurance: The Heart of Your Family
In this era, any heart disease could create a hole in your pocket for hospitalization, medicine, and doctoral advice, hence it is always better for your heart to be financially sure. One should invest in a comprehensive insurance plan to protect oneself from medical exigencies or in insurance plans offering coverage against cardiovascular conditions. The insurance payout will help you secure your family’s future, meet your expenses, and attain peace of mind. They say, “family is the heart of your life”, thus, taking care of your heart means taking care of your family.
Just like your physical health, your financial health needs regular attention too. This is due to the close connection between your physical, mental, spiritual, and financial health. Each one contributes to your overall sense of well-being; therefore, a change in one can affect the others, either favorably or unfavorably. So, let’s all promise to strive for a healthy, wealthy, and wise heart on this World Heart Day.