How Spending Habits Affect Your Quality Of Life
Money may make the world go round, but it also makes the world a little harder to navigate.
A large majority of Americans report feeling very stressed about money at any time, according to recent surveys. That stress can make a big impact on physical and mental health.
Here are some of the ways that your spending habits may be responsible for your overall quality of life.
Good Spending Habits Usually Yield Positive Long-Term Results
Starting good spending habits early can set you on a positive financial path for the rest of your life — and you will live a higher quality of life as well.
If you feel your quality of life could be better, take a hard look at your spending habits and other forms of financial behavior. Do you regularly spend more than you earn in a month? Do you spend money on things you don’t need?
Are you regularly contributing to a savings account or emergency fund? Changing your spending habits will have a big effect on creating a high quality of life that will last.
Lifestyle Inflation
Just because you earn more money, doesn’t mean your quality of life will improve. Sometimes the more you make, the more you spend. And bigger money may just mean bigger purchases, such as a luxury car, an exotic vacation, or designer clothing.
It seems counterintuitive but making more money doesn’t necessarily lead to a better quality of life.
Plan, Plan, Plan
To be fair, it’s not necessarily bad to make large purchases; they’re often unavoidable throughout life. But developing spending habits that reflect a comprehensive budget and planning ahead for big buys can allow you to make the purchase with ease.
A big purchase won’t make or break you when you do it responsibly. Therefore, avoiding financial stress and introducing a better quality of life.
Your Relationships May Suffer
Your bad spending habits can put a damper on the relationships you have with your family, friends, and significant others. But your partner’s bad habits can also impact your quality of life even when your spending habits are being managed well.
According to a study published in the Journal of Family and Economic Issues, people who believe their partners are responsible with their money had a higher sense of well-being and more happiness.
When a partner was seen as having bad habits, the study participants said they had a lower quality of life themselves.
Impacts On Your Physical Health
If your money management (or lack thereof) makes you feel stressed, you’re not alone. The American Psychological Association recently found that 64% of American adults say money is a common source of their stress.
Bad spending habits can have an influence on your health. Such financial stress may change your mood and how well you can focus. It can cause you to eat more or eat less. It can raise your blood pressure and increase your chances of heart disease, a heart attack, or even a stroke.
Your Productivity May Decrease
It’s tough to leave financial stress at home, so many people carry it with them wherever they go — especially at work and especially if one’s job is high-stress. Bad spending habits can preoccupy your mind and divert focus away from important work or basic job duties.
When your job performance suffers, your career can easily go awry. Those carrying financial stress may quickly become unreliable and unorganized in the workplace. Causing relationships with co-workers or bosses to suffer and rapidly deteriorate.
Taking Care Of Financial Emergencies Quickly
With financial emergencies, it’s not a case of “if,” but “when.” At some point, most people have to cope with unexpected expenses such as hospital bills, last-minute travel, car repairs, or home maintenance.
When this happens, an auto title loan can get you back on track without affecting your quality of life. With the help of Auto Cash USA, you can connect with a lender today and qualify for a loan of up to $15,000 in as little as 30 minutes.
Auto title loans simply use your vehicle’s title as collateral in exchange for a loan that’s paid off over a set amount of time. It’s easy to get started. Head to the Auto Cash USA homepage, fill out the auto title loan form and we’ll connect you with a lender that will guide you through the rest of the easy loan process.
The best part: Once you qualify and agree to the terms of the loan, you can get the cash you need that day or the very next business day.
Get Started Today
Good spending habits can lead to a more enjoyable lifestyle for the foreseeable future. An auto title loan can help you get through a pressing financial emergency easily. Just start on our homepage or give us a call today to see how an auto title loan can help you.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.