Capitalize on the Unrealized Fortune in Fitness
Do you want to age healthily and with financially security? Of course you do! Don’t we all? A growing body of research uncovers the investment that yields exponential returns.
Financial Barrier to Exercise
One commonly reported barrier to exercise is the financial cost. Some people are not convinced that the cost of exercise is worth the benefits. However, research shows from a purely financial perspective, the money invested in exercise generally pays off twofold over the course of a lifetime by way of preventative costs. Put another way, people who don’t exercise rack up huge medical expenses when compared to their active peers.
The Costs
The average exerciser spends about $70 per month on exercise-related expenditures: $40 on a gym membership and $30 on exercise shoes and clothing. Admittedly, this is a significant amount of money in a tight budget.
However, recent statistics show that each month, the average American spends $475 on a car payment, $219 on eating out, $103 on TV, and $81 on coffee. While a $70/month cost of exercise is nothing to sneeze at, when comparing how much the average American spends on other discretionary expenses, it puts the cost of exercise in perspective.
The Savings
The value in exercise is most often promoted in it’s health benefits by way of increased longevity, decreased risk of disease, improved physical functioning, and quality of life. However, it is less often that we acknowledge the monetary value of these benefits.
Specifically, a study published in the journal Progress in Cardiovascular Disease showed that on average inactive people (who accumulate < 30 minutes of moderate activity five times/week) accumulate $1,437 more in annual health care expenses than active people (when controlling for health insurance).
In fact, medical debt is the No. 1 source of personal bankruptcy in the United States (this includes people who have insurance). In 2014, an estimated 40% of Americans accrued debt from a medical problem.
Additionally, research shows monetary gains of exercise by way of increased energy and productivity in the work place, and decreased sickness absence. More research is currently underway examining the monetary costs of inactivity induced mental health issues and impaired cognitive functioning.
Call to Action
Can you really put a price tag on your health? Is it really worth saving $70 a month through your 30’s and 40’s only to need triple bypass surgery when you’re 55?
The sad but common tragedy of the 21st century is the man who neglects his health in order to spend his life working to buy status symbols, entertainment, and stock piling a retirement fund, only have to sell it all to buy his health back in the end.
The sad but common tragedy of the 21st century is the man who neglects his health in order to spend his life working to buy status symbols, entertainment, and stock piling a retirement fund, only have to sell it all to buy his health back in the end.
If your health is important to you, you can find a way to cut costs elsewhere in order to invest in what you deeply value. There is time and money for what matters to us most. If the monetary cost of exercise is a barrier for you, it is time to examine your budget to cut spending and invest in you.
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