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By Katherine Mercurio Gotthardt
The connection between financial and physical well-being is a strong one. Area experts agree that money matters can significantly influence a person’s overall quality of life. Even so, the critical ability to prioritize health while making ends meet is often overlooked, especially during challenging times.
According to John Marshall Bank, “Major sources of financial strain such as divorce or losing a job have ripple effects that affect not only you but your family and the people you care for.” Financial strain also negatively impacts mental health which has a direct relation to physical health, they said. For example,
research shows some people may experience symptoms of major depression—which can be brought about by losing a job or home or a death in the family. These symptoms may include a lack of personal hygiene, decrease in energy, unhealthy eating and coping habits, and more.
Other issues, like falling victim to fraud, especially if the victim is an older adult, place strain on them and their caregiver making affording medication and medical care much more difficult “When you’re financially stable, you can devote your time, energy, and money into things that better your physical health: eating
healthier, a gym membership or just time to exercise in general, doctor’s appointments for preventative care instead of reactionary care,” they explained. But still, life often gets in the way.
Ken Bernard, M.D., M.B.A., chief clinical officer for UVA Health Prince William and Haymarket Medical Centers, and Zan Zaidi, chief medical officer for UVA Health’s Community Medical Centers and Clinics in Northern Virginia and Culpeper, echo these findings.
Zan Zaidi, MD
Ken Bernard, MD, MBA
“There’s no doubt that financial security plays a pivotal role in reducing stress, better nutrition and eating habits, and motivation to exercise,” Zaidi said. “Financial stability is closely tied to both mental and physical health.”
However, the relationship works both ways. “Good physical health means higher energy levels and greater productivity, which can help improve one’s income,” he explained.
When finances are challenging, healthcare becomes more challenging. Bernard described the phenomenon as “financial toxicity,” a term that refers to the negative financial consequences experienced by patients and their families as a result of medical treatments for chronic conditions.
Experts agree that there are realistic ways to build a healthier life, physically and financially, especially by accessing the right support. Focusing on finances and health enables people to be better equipped to handle life’s challenges and enjoy a healthier, more secure future. Small changes in financial habits and health routines can have a big impact on overall well-being:
1. Building a Strong Financial Foundation
Establishing financial health means having income stability, manageable debt and the ability to handle expenses. Setting a budget, tracking spending, building an emergency fund, and managing debt not only provide peace of mind but can also reduce stress levels that negatively affect the body. For those missing essential pieces, such as steady income, assessing job opportunities, reaching out to employment agencies and working with financial experts can help. Working with social services and emergency resource organizations may also be key, depending on the situation.
2. Prioritizing Preventive Healthcare
Most medical professionals will say, don’t wait for a problem—schedule routine examinations and preventive screenings. If health costs are a concern, research community clinics or sliding -scale providers in the area. The Prince William area has several, including the local health department, GPW Health Center, and services through local hospitals.
3. Managing Financial Stress for Better Well-Being
Chronic stress over money can cause high blood pressure, lowered immunity, and unhealthy habits. Consider techniques like mindfulness, exercise, or talking to a financial counselor to help manage anxiety related to finances. Sometimes, just having a plan for managing money can greatly improve mental and physical health.
4. Making Healthy Choices on Any Budget
Healthy eating and regular exercise are not exclusive to those with high incomes. Plan meals, shop sales, and look for affordable, nutritious staples. Explore free or low-cost ways to stay active, such as walking, using online workout videos, or joining community programs. Explore local parks and trails, find others invested in their health, and keep moving.
5. Protecting Health and Finances
Remember that poor health can impact your ability to work and increase out-of-pocket expenses. If possible, invest in health insurance, disability insurance or a health savings account. These steps can help protect your finances if you face unexpected health challenges, breaking the cycle between illness and financial strain.
Finding More Support
John Marshall Bank provides resources, products, and services to prevent the kind of downward spiral experienced by those who cannot afford to prioritize health. One resource addresses cases of fraud or abuse. John Marshall Bank offers card and payment controls, alerts, and other ways to ensure customers’ financial safety. More information can be found at johnmarshallbank.com/resources/security-center.
“Just as it is with any type of scam, recognizing the methods that financial criminals use to deceive and steal from is an important first step in preventing financial abuse,” their website says. This is especially true for seniors.
“We all need to work together to make sure our seniors, their caregivers, families, and friends know the signs to look for that a criminal is after your money,” said FBI Criminal Investigative Division Assistant Director Michael Nordwall in a Facebook post.
On the physical health side, Bernard noted, “Most health systems, including UVA Health, are required to maintain financial assistance and charity care policies. These programs often include assistance or discounted care for patients—both uninsured and underinsured—who need help managing their medical bills.
“Every patient’s financial situation is unique, and health systems, like UVA Health, are committed to offering some form of relief to those in need,” he added.
“Each year, we help thousands of patients find solutions to their billing issues. We help you pay your medical bills with financial aid, payment plans, and support for finding the right solution for you,” reads the UVA Health websites.
Find questions and answers at uvahealth.com/support/billing-and-insurance/financial-aid or by searching “UVA Health financial assistance.”
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Katherine Mercurio Gotthardt has written for Prince William Living for more than 10 years. An award-winning author and poet, she is an advocate for mental health and the arts. Learn more about her work
at KatherineGotthardt.com.