You do not have to be a psychology expert to know that finances affect people's feelings. Every person who has been through challenging financial situations knows first-hand how mentally draining being unable to pay bills can be. 

This mental pressure, at some point, starts to manifest in a decline in a person's mental and physical health, leading to a vicious cycle of poor financial well-being and declining health. This guide looks into the interconnectedness of financial wellness and physical health and what you can do to maintain this balance.

What Is Financial Well-Being?

Financial well-being is a holistic term that refers to a person's relationship with money and how it impacts their life. While earnings are a critical part of it, they are not everything. It also encompasses how a person thinks and manages their finances. 

Achieving financial well-being thus means you are not constantly worrying about money but have a clear understanding of how much is coming in and a definite plan for your expenditures and savings. 

Effect of Financial Wellness on Mental Health

Before financial issues impact your physical health, they will affect your mental health. According to experts, money-related stress tends to be chronic and are the leading stressors for most people. 

The opposite is also true. Achieving financial wellness means you feel more in control of your life and have little to no stress around money issues. It also means having a positive outlook on life, creating a vicious cycle of excellent decision-making and better financial health.

Effect of Financial Wellness on Physical Health

Higher levels of financial stress will ultimately manifest in poor physical health. It contributes to poor health in two ways: the body gives in to mental stress, and lack of access to medical services due to financial challenges contributes to deteriorating health.

Medical conditions that could result from too much mental pressure include headaches and migraines, high blood pressure, digestive issues, insomnia, heart arrhythmia, and a weakened immune system. 

It can also lead to lifestyle conditions linked to poor coping habits. For example, stress can lead to drug use or alcohol abuse, which ultimately leads to poor health. The opposite is also true.

The positive outlook in life a person has when in a state of financial wellness triggers the release of feel-good hormones, which contribute positively towards good health. It also means they can access health services when needed.

How to Improve Your Financial Wellness

The road to financial wellness is not straight for people building their wealth from the bottom up. So there, you can expect to go through seasons where your finances are on the rocks. You can take several steps to improve your financial wellness in such a situation such as:

Leverage Tax Breaks

You can explore the many tax breaks extended by the federal government to save some dollars. These savings can go a long way when you look at them in the long run. 

You can even explore tax benefits that have a direct positive impact on health. For example, supplements, exercise, and supplements offered by TrueMed can count as HSA and FSA spending, which is tax-deductible. 

Get Financially Literate

Financial wellness is not about how much a person makes. It is about how they handle and manage the little or the much they have, so if you have major issues with money management, it may be time for you to take financial literacy classes. 

Spending money on financial literacy in a financial crisis can feel like the antithesis of your goal. However, you will discover with time that it is the best thing you can do for yourself as it can help solve a chronic problem. It stays with you for the rest of your life. 

Beyond the bustling trading floors and high-stakes negotiations lies a realm where the well-being of employees and the protection of assets merge seamlessly with business excellence. In this article, we unveil the essential components of a robust health and safety framework tailored specifically for investment firms. From ergonomic workspaces to cybersecurity protocols, join us as we delve into the 8 key elements that ensure a harmonious symphony between wealth accumulation and employee welfare.

Regulatory Compliance and Legal Framework

In the context of health and safety management within investment firms, adherence to regulatory compliance and a robust legal framework stands as the cornerstone of a secure and responsible operational environment. Investment firms must meticulously navigate through an intricate web of industry-specific regulations and legal obligations, ranging from financial sector laws to occupational health and safety standards. 

By rigorously upholding these mandates, firms ensure the protection of their employees, clients, and stakeholders, while fostering a culture of transparency and accountability. A comprehensive approach to regulatory compliance forms the bedrock of a resilient health and safety management system, safeguarding the firm's integrity and sustaining long-term success.

Employee Training and Competency Development

Employee training and competency development form an essential pillar of health and safety management within investment firms. For instance, the NEBOSH National Diploma course on occupational health and safety ensures that employees gain the knowledge and skills necessary to navigate potential hazards, adhere to safety protocols, and respond effectively to emergencies. These initiatives encompass a wide spectrum, including workshops on risk assessment, first aid, cybersecurity awareness, and crisis management. 

By fostering a culture of continuous learning, investment firms empower their workforce to proactively contribute to a secure and health-conscious environment. This commitment not only enhances individual capabilities but also collectively strengthens the firm's ability to maintain a resilient and protected operational landscape.

Risk Assessment and Mitigation Strategies

Effective risk assessment and meticulous implementation of mitigation strategies are paramount in the realm of health and safety management within investment firms. Rigorous evaluation of potential hazards, whether they arise from technological vulnerabilities, market fluctuations, or physical workplace conditions, enables proactive identification and quantification of risks. 

Subsequently, tailored mitigation plans are devised and executed, encompassing preventive measures, contingency plans, and crisis response protocols. By employing this systematic approach, investment firms bolster their resilience against unforeseen challenges, safeguarding not only the well-being of their personnel but also the integrity of their operations and the interests of their clients and stakeholders.

Emergency Response Planning and Preparedness

Emergency response planning and preparedness constitute a critical facet of health and safety management within investment firms. Meticulously crafted response strategies, encompassing scenarios ranging from natural disasters to cybersecurity breaches, ensure a swift and coordinated reaction in times of crisis. 

By conducting regular drills, simulations, and training sessions, firms equip their staff with the skills to effectively manage emergencies, minimizing potential harm and operational disruptions. Such proactive measures foster a culture of readiness, enabling investment firms to navigate adversity with poise, protect their assets, and maintain the trust of clients and stakeholders.

Workplace Ergonomics and Physical Wellbeing

Prioritizing workplace ergonomics and promoting physical well-being is pivotal in the holistic health and safety management of investment firms. By optimizing office layouts, furnishings, and equipment, firms ensure that employees operate in ergonomic environments that reduce the risk of musculoskeletal disorders and other physical ailments. 

Regular health initiatives, such as wellness programs, fitness facilities, and health screenings, empower employees to maintain their physical vitality. A balanced focus on ergonomics and physical well-being not only enhances individual comfort and productivity but also fosters a culture of care, promoting long-term employee satisfaction, retention, and overall organizational success.

Information Security and Data Privacy

Preserving information security and upholding data privacy stands as paramount consideration in the health and safety management of investment firms. Robust cybersecurity measures, including encryption, access controls, and intrusion detection systems, safeguard sensitive data against cyber threats. Stricter data handling practices and compliance with privacy regulations, such as GDPR or HIPAA, assure clients and stakeholders of their confidential information's protection. 

Regular audits, employee training, and incident response plans contribute to a fortified defense against data breaches. By maintaining a vigilant stance on information security and data privacy, investment firms bolster trust, prevent reputational damage, and ensure the continuity of their operations.

Mental Health and Stress Management Initiatives

Championing mental health and implementing stress management initiatives is of paramount importance in the health and safety management strategy of investment firms. Recognizing the demands of a fast-paced industry, firms prioritize employee well-being through counseling services, flexible work arrangements, and mindfulness programs. 

By promoting an open dialogue surrounding mental health, reducing stigma, and providing resources for stress reduction, firms create a supportive and inclusive environment. These initiatives not only enhance employee morale and engagement but also mitigate burnout and bolster overall resilience. Investing in mental health reaffirms a commitment to the holistic welfare of staff, fostering a culture of balance and sustained performance.

Continuous Improvement and Performance Monitoring

Embracing a philosophy of continuous improvement and diligent performance monitoring forms a cornerstone of health and safety management within investment firms. Regular assessment of safety protocols, incident analyses, and feedback loops contribute to refining existing processes and anticipating potential challenges. Through Key Performance Indicators (KPIs) and benchmarking, firms gauge the efficacy of their safety initiatives, identifying areas for enhancement. 

The data-driven approach not only facilitates proactive risk mitigation but also enables a responsive adjustment to evolving circumstances. By fostering a culture of adaptability and refinement, investment firms ensure the perpetuation of a secure and resilient operational landscape, underpinning their commitment to the well-being of employees and the organization at large.

The comprehensive integration of these key elements in health and safety management fortifies investment firms against a spectrum of challenges. By navigating regulatory complexities, nurturing employee well-being, and diligently addressing risks, firms cultivate an environment of security and accountability. The synthesis of ergonomic considerations, information protection, mental health support, and a culture of continuous improvement not only safeguards personnel but also enhances operational integrity. As investment firms prioritize these facets, they foster resilience, inspire confidence among stakeholders, and affirm their dedication to fostering a secure, sustainable, and thriving ecosystem for their employees and the organization as a whole.

In 2015, David was awarded a sabbatical grant and had the chance to travel throughout Europe, receive spiritual direction and reflect on his future in the church, presumably to get all charged up for many more years in ministry. Instead, he increasingly became convinced that there was another career calling to him outside of pastoral ministry, this time as a coach. After returning from the sabbatical, David was diagnosed with prostate cancer. He realised that whatever life he had left was a pure gift and if there was another career out there for him, he had better start reaching for it now. “Within one year I had caringly said farewell to my congregation and enrolled in a coaching program,” David says.

Shortly after that, he created Coaching & Conflict Transformation, LLC. In addition to being a coach, David is a Certified Mediator and mediates two-party and complex multi-party cases in Washington state. He believes that his mediation experience does add depth to everything he does in the coaching space.

David added to his initial training by receiving specialised certifications from the Cancer Journey Institute which helped immeasurably in his work with cancer clients, and the National Board-Certified Health and Wellness Coach certification which is the gold standard for health coaching worldwide.

How important is one’s health and wellness when it comes to achieving success in the workplace?

The logic is easy to see. If you don’t have your health, you don’t have much of anything. Without it, you can lose your livelihood and almost everything else. I don’t think many would argue this point. The rub comes with seeing one’s life over the long run and in the big picture. It is so easy to let other things overshadow the importance of our health and wellness.

Our collective global attitude toward healthcare has created something of a crisis by suggesting that very soon we will have a pill to solve whatever health problem that may come our way. That pill will probably never exist. We borrow from a quick-fix mentality what only good health habits can create.

Why do so many busy professionals overlook their health and wellness?

So many of us avoid taking care of our health and wellness because we started building poor health habits as our careers began in our 20s and 30s. I should come clean here and mention that I did too. Too often I skimped on my sleep, sat when I should have exercised, and ate fast food when I should have eaten more vegetables. Many of us found that we could take advantage of our health. Those earlier decades are career-building years. We pushed to get ahead, and our bodies seemed forgiving. If we weren’t proactive about our health then, we may start to feel some repercussions in the late 30s and early 40s and beyond.

But in no way am I here to paint a gloomy picture. Life is open to so many possibilities for great things to happen at any turn. It is never too late to act on our health and wellness.

So many of us avoid taking care of our health and wellness because we started building poor health habits as our careers began in our 20s and 30s.

Why is it important to pay more attention to our health and wellness, especially if we’re living a fast-paced and stressful life?

You can look at health through the lens of your peak performance and the health of your most important relationships at work and home.

If you take a clear-minded and blatantly honest view of your own mental, emotional, and relational sharpness, you’ll notice when it falls off as fatigue sets in. It might also be helpful to have a trusted co-worker or partner help you evaluate your sharpness if that is possible. With this feedback in hand, you’ll discover your limits. You may have to take a couple of steps back from pushing yourself to the max and favour creating better health habits. You’ll discover when you aren’t getting enough sleep (most likely you’ll need between 7-8 hours, so get real about that) or enough exercise (about 150 minutes of movement/exercise per week) or taking the fast-food option too frequently (less than three meals a week is a good beginning target).

What are some little steps that can help busy people with improving their well-being?

I absolutely love this question! Little steps turn into big gains over time! The key is to work with your own motivational engine. It gets larger when we enable it to build on itself. Isolate one thing you want to improve health-wise, like taking a five-minute walk once a day for one week. Or, if you’ve already got walking down, choose to add one vegetable to your plate at dinner for one week. You get the idea. Think, simple, easy, doable, “I-know-I-can-nail-this-without-thinking.” And, then crush it! Then the next week, make sure you don’t add much. Just something little and crush it again. During your first month you should come away with incremental improvements, and each time: nothing but wins.

The idea is to keep working with the long game in mind. And (hint) it wouldn’t hurt to have a health and wellness coach. Remember, that you created habits over years, and you can’t undo them for good quickly. As you gradually and methodically add to your wins, you’ll reshape your attitude about what you can do and build confidence—your motivational engine—to replace bad habits with good ones. Ultimately, you’ll run the marathon, or whatever your big goal is, but the initial motivational work must come first.

Contact details: 

https://www.drkegley.com

https://www.linkedin.com/in/david-kegley-aa24b927/

https://www.instagram.com/davidkegley5/

Stocks rose on Monday morning as reports emerged from the White House indicated that President Donald Trump’s health was improving.

Pictures and videos purporting to show Trump working while at Walter Reed Medical Centre were released over the weekend with Dr Brian Garibaldi, a pulmonary specialist on the president’s medical team, commenting: "If he continues to look and feel as good as he does today, our hope is we can plan for a discharge as early as tomorrow to the White House where he can continue his treatment course."

Global stocks saw a modest improvement on Monday following the news, with European markets in the green and US futures opening higher.

The FTSE 100 opened up 1.2% in London, while Frankfurt’s DAX and Paris’s CAC 40 each gained 1% in early trading. S&P 500 futures rose by 0.6%, Dow futures by 0.7%, and Nasdaq futures by 0.8%.

Asian and Australian stocks also rallied overnight, with major indexes opening higher. Japan’s Nikkei rose by 1.2%, the South Korean KOSPI by 1.3%, the Hong Kong Hang Seng by 1.5% and the Australian ASX 200 by 2.6%.

The US stock market has just come out of its worst monthly performance since March this year, with investors fearing that President Trump’s COVID-19 diagnosis could distress stocks yet further. Reports that the president began steroid treatment for low oxygen levels over the weekend have also left markets cautious.

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“There is no doubt that the primary focus among investors and traders is going to remain on Donald Trump’s health this week,” said Naeem Aslam, chief market analyst at Avatrade. “Any news about the improvement of his health is likely to bring relief to markets.”

Ultimately, investing in yourself is what is going to lead to success. Here are some easy ways to invest in yourself so that you can run a successful business.

Take Online Courses

Learning is a lifelong process and even if you have been to college, there is still plenty you can learn. You are going to be constantly learning when you are starting a business. In some ways, you will be entering uncharted waters. You can prepare yourself for this task by taking online courses. Investing in your own education will help you be a better business owner. There are lots of options online and they are accredited so that you can obtain a certificate. With the right skills, you can learn ways to improve your business for the long term.

Enjoy a Holiday

A lot of business owners, especially in the early days of the brand, will not take a holiday. They focus all of their time in building their company. However, everybody needs to take time off work from and this includes the owners. This means that you need a holiday to avoid overworking yourself. If you continue to work long hours and feel stressed, this can lead to burnout. Taking a holiday allows you time away from a busy environment so that you can relax and recharge. When you return to work you can feel reenergized and refreshed, ready to take on the next challenge.

Work on Your Relationships

Personal relationships can often be neglected when you are trying to build a business. But spending time with your loved ones is a good way to relieve stress. You can also use this time to network and build good working relationships too. This will allow you to find the right partners and those who are going to benefit your business. Relationships with clients are also important and time should be spent interacting with them. This can make you feel good too.

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Look After Your Health

When you are spending a lot of hours in the office, it is easy to neglect your health. You may grab takeout food when you get home or skip meals without noticing. But this will take a toll of your health after a while. You may start to feel tired and lack energy. Not eating the right foods can affect your mental health too. Therefore, you have to invest in your overall health so that you can feel good and do the best for your company.

Start by enjoying a nutritious diet, making healthier choices when it comes to meals and snacks during the day. In addition, cut down your coffee intake and stay hydrated. You will be surprised how good you feel. Exercise is also important in this equation and a simple walk everyday can release endorphins to improve your mood.

Do not forget to visit the doctor and enjoy regular health checks. Even if you are investing all of your money into your business, you can use vision care loans online to help you look after yourself.

There’s also worries about Brexit, and the impact that will have on the world of FS, leading to job insecurities and further stress. Below, Vicki Field, HR Director at London Doctors Clinic, discusses the options for available for your team and their own struggles with mental health.

A recent survey conducted by Mental Health England identified that financial services jobs are 44 percent more likely to cause a stress-related illness than the average role in the UK.

Mental health is one of the fastest growing reasons for absence in the UK, having increased by a whopping 71.9% since 2011, which has cost the UK economy £18bn in lost productivity, according to analysis from Centre of Economic and Business Research 2017. The financial services sector has the highest percentage of employee absences due to mental ill health, according to research from HR consultancy AdviserPlus, which analysed 250k employees to identify that 34% of all absence was related to mental health.

However, the negative impact on the sufferer is hard to quantify in terms of cost or pounds. Mental health problems can eat away at happiness and have life changing impacts on people. So, what can we do at work to help?

While many employers acknowledge that mental health is a key employee concern, few have a specific well-being strategy in place. Probably unsurprisingly, half of the employees in the banking and financial services industries believe that businesses are not doing enough to support the physical and mental wellbeing of their employees, according to a study by Westfield Health.

While many employers acknowledge that mental health is a key employee concern, few have a specific well-being strategy in place.

Mental wellbeing used to be a topic that was actively avoided at work, with employees being worried about admitting that they had mental health issues. Whilst this is still true today, there are some high-profile campaigns which have given more focus to the prevalence of mental health issues and encouraged people to discuss and share their experiences. For example, Prince Harry established ‘Talking Heads’ with the Duke and Duchess of Cambridge to highlight mental wellbeing and has in turn been very honest about his own struggles following the death of his mother.

While companies do not carry responsibility for the general health of their employees, they do have a “duty of care” for their employees. In simple terms, this means that a company should take steps to avoid putting their employees in a position where they could be made ill by their work.

So, as the subject of mental health becomes more prevalent in the workplace, what can employers do if they think a member of the team may be struggling with their mental health?

Here are some points for team managers to consider.

1. Long or short term issue. There are two main types of mental ill health: a long-term ongoing mental health issue such as being bipolar or having clinical depression; and a probable short-term or temporary issue which is caused by life events or work such as anxiety, stress, or depression. Most people with ongoing mental health problems will meet the definition of disability in the Equality Act (2010) in England, Scotland and Wales and Disability Discrimination Act (1995, as amended) in Northern Ireland. This means the person must meet the criteria of having an impairment that has substantial, adverse, and long-term impact on their ability to carry out everyday tasks.
2. Put reasonable adjustments in place. A company has a legal responsibility to put “reasonable adjustments” in place to help the employee at work, if their condition constitutes a disability. However, even if it’s a short-term issue, putting adjustments in place can stop it turning into a longer-term problem. Just like a physical disability would require changes such as special chairs or computer screens, people experiencing mental health problems may require reasonable adjustments. This could take the form of introducing some form of flexible working (i.e. working from home more frequently or avoiding rush hour travel), for example. Each person is unique, so talk to them about what they need. Obtaining a doctor’s report with proposals is the best place to start.
3. Read their stress levels. Work can be a major stressor, when people start to feel overwhelmed or stressed by their work or by being at work. Everyone is different, and enjoyable pressure for one person can be hugely stressful for another. Most people need an element of pressure to enjoy work, but it’s when it turns into ‘stress’ that the issues start. As a manager, therefore, it’s really important to understand if any of your team are feeling stressed or anxious, and ensuring that you act to remove the stress for your employees if it is caused by work. Regular 121s to discuss workload will help you understand if there are any issues developing.
4. Measure and monitor absence patterns. This is a key way to understanding if there are any underlying conditions so tracking absence and having regular back to work interviews is important. Long-term conditions may present with a range of short-term or intermittent absence and it can be hard to identify if someone really does have a lot of dodgy tummies, or if they actually suffer from severe anxiety. Therefore, if you feel like an employee does have a lot of intermittent absence, offering confidential support through a private GP practise or an occupational health provider can have a significant impact on someone’s health, and their productivity and motivation at work.
5. Manage physical burnout. Additionally, if people are working hard and become ill, physical burnout can be frequently accompanied by mental burnout; or the start of mental health problems. If someone is feeling ill, and is still working, because they either feel forced to for fear of losing their job, or fear of failing to achieve objectives, it will start to impact their mental health. These negative feelings of stress and anxiety drive more symptoms of physical ill health, and it can become a vicious circle where the person never fully recovers and feels well. Talking to your team member is the best way to get to the bottom of how they are feeling, through 121s, back to work interviews or even just casual ‘chats’ in a social space.
6. Send them to the doctor. Whilst one of your team might not feel comfortable discussing their mental health with you, no matter how sympathetic you are, they may with a GP or occupational health professional. Doctors can support physical and mental ill health, identify any connections, and support the employee’s recovery, as well as help identify if work is one of the main issues for the depression, stress or anxiety. A GP will also aid with suggesting ‘reasonable adjustments’ at work. The old adage ‘prevention is better than cure’ is often the case when managing mental illness at work, with employees more likely to remain in work if there are early interventions.
7. Know your employees. On a personal level, there are also short-term issues which may affect the mental wellbeing of your employees: life events such as bereavements, divorces and family problems can cause significant emotional distress for people. We are all only human which means that there is an impact at work - people may be less focused, or show visible emptions, or even dress differently. There may be a few weeks or months where behaviour changes, or work drops off, and offering support to your team member during this time can have significant benefits for all parties in the long run.

How can I identify if someone’s mental health is suffering?

• Has the person’s behaviour suddenly changed? Are they visibly upset at work (crying?) Are they suddenly angry, and shouting at colleagues? Are they withdrawn and quiet?
• Do they look different? Have they stopped washing / taking care of themselves?
• Has intermittent absence increased? Stress can have physical symptoms such as regular colds, or upset tummies.
• Has their conversation changed? Are they repeatedly self-critical, or talking about how stressed they feel?

What is the role of the employer or team manager?

Always ensure you measure absence and have back to work interviews after every period of absence so you can monitor any potential issues; measuring and monitoring absence is the only way to effectively manage it. Discuss their workload and stress levels as part of a normal 121, so it becomes part of ‘normal’ conversation and not an awkward or difficult topic.

Asking someone if they are ‘ok’ is an important part of any manager’s role, but you’re not a mental health expert, or a counsellor or a doctor. If you are able to talk to your team member, and they share that they are experiencing some issues, you can get support from your HR department, from a GP or OH practitioner, or a variety of charities such as MIND.

Sometimes just listening to them, possibly changing their workload, or giving them time off, will sort the problem. However, if it is a longer-term issue, it’s important to get professional help.

Look at what can be done in the workplace to support them, talk to them and if necessary get a medical report. There’s a lot of help out there, so do ask for it.

Each year, technology introduces new trends and benefits into the healthcare industry. So, what can we expect to see throughout the coming year? Here, we’ll look at some of the key health care technology predictions for 2019.

1. More focus will be given to digitalisation

This is perhaps the most unsurprising trend the healthcare sector is expected to focus on in 2019. More providers will be looking into adopting Electric Patient Records, helping to better monitor and manage patient treatment. Allowing practitioners to receive updates and records in real-time, this digitalisation is gradually revolutionising the industry.

It’s also likely more services will become digitalised, such as booking appointments, and managing repeat prescriptions.

2. Security and privacy will dominate

Due to changes in data privacy, it’s likely the healthcare sector will see policy changes adopted in 2019. As the sector becomes more comfortable managing its data, it’s also expected there will be a move from big cloud data storage to smaller, more specialised cloud storage.

Security wise, cyber attacks are expected to become more prevalent over the next year, forcing healthcare providers to tighten their security.

3. Patients will be able to monitor their own health

There has already been an increase in the number of at-home monitoring devices introduced onto the market. However, as pressure is placed onto the sector due to cost cuts, it’s likely we’ll see an increase in patient-controlled health monitoring.

Currently, patients can purchase testing kits for a range of illnesses and conditions, as well as test things such as their cholesterol and blood pressure. As technology continues to advance, we’ll likely start seeing more testing and monitoring devices introduced onto the market.

4. Collaboration with innovators

Innovation is a big factor all businesses should be concerned about. In 2019, it’s thought the healthcare sector is going to focus a lot of its efforts into innovation. Pharmaceutical companies in particular, will be seeking out innovators to boost their portfolio. From digital health companies to biotech upstarts and AI start-ups – there will be a lot of collaboration taking place within the healthcare sector this year.

5. More tech for mental health

It’s no secret that the mental health sector is under extreme pressure due to lack of funding and staff shortages. So, in order to try and bridge the gap, in 2019 focus is being placed upon introducing more tech into the sector. This will allow patients to monitor and manage their mental health much more effectively. There will also likely be more tech introduced to help treat and support mental health patients.

The above are just some of the health care technology predictions of 2019. There are certainly a lot of changes occurring within the sector at the moment. Digitalisation in particular, is going to be a huge focus and one of the biggest benefits to the industry.

72% of UK consumers are opting for better food choices in supermarkets while spending on health and fitness in the country is on the rise despite increasing pressure on income. A healthy lifestyle can improve your fitness, lower the risk of cardiovascular disease and even boost your mental health. However, can being health conscious help your wallet? Evidence says it can. Here are four ways healthy habits can impact your financial goals, including your plans for getting on the property ladder and your retirement future.

Better Food Decisions = Less Spending

Consumers in the UK spent over £49 billion on eating and drinking out in 2017. This equates to £1,000 per person. In fact, Brits spend more on lunch than utilities. However, healthier eating means savings on the food front. One tip for eating healthy is to choose a packed homecooked lunch where you are aware of all the ingredients and that it is free of preservatives. Doing this can add at least £245 to your bank balance each year. Shopping and cooking at home also saves money in the supermarket, further reducing your monthly food bills. The recommended diet is full of fruit, vegetables, and whole grains; all of which you can consumer for £3 a day. The cost of one meal out can be enough to provide food for 3 or more days.

Your Earning Capacity Improves

Living a healthier lifestyle improves productivity. Eating healthier foods increases your energy and leads to better sleep. A diet rich in whole foods including fruits, lean protein and vegetables will boost energy levels. Multiple studies have linked eating a nutritious breakfast to productivity levels throughout the day. Thanks to increasing convenience in the kitchen, fueling your body with healthy breakfast beverages or meals are now much easier. When you are feeling more rested, you are then able to concentrate and retain information better. All of these positive changes equates to better productivity in the workplace, boosting your earning potential.

It can also boost creativity; spurring ideas and motivation to launch side businesses and pursue other sources of income (and have the energy to keep up with them). This is part of the reasoning behind the growth of corporate wellness programs in workplaces today. Happier, healthier employees are good for business.

Living Healthy Improves Life Expectancy- And Your Credit

Some habits that are a part of living a healthier life include avoiding smoking, monitoring alcohol and sugar intake and exercising. All of these also impact your life expectancy. Living longer can not only mean saving on health insurance but also influence your approval for longer life mortgages, if needed. Longer term mortgages are proving to be a popular way to help people buy a home and also save up to £30,000 on their mortgage overall. Increasing the term of your home loan can decrease your chances of defaulting on payments, falling into debt, damaging your credit scores and simply making your bills more affordable.

Opting For A Healthier Lifestyle Could Protect Your Retirement Funds

The fear of outliving their retirement savings is very real for British consumers, particularly with the younger workforce. It is estimated that you will need to set aside at least £260,000 for their retirement needs in addition to their state pension. Financial firm Key Research puts basic living costs to be approximately £10,830 a year. However, the benefits of being health conscious means fewer healthcare bills, and lower health and life insurance premiums in retirement. Savings like these can be put back into your retirement funds.

Choosing to live a healthier lifestyle is about more than making the healthier choices. It is about improving your present and protecting your future. Better health means a better standard of life, including financially.

New research from MoneySuperMarket reveals that a third of Brits (33%) currently use a smart device to monitor their health, capturing data that could help identify health issues and affect the way life insurance premiums are calculated.

With the number of connected wearable devices set to rise further in 2019,  MoneySuperMarket research reveals that millennials are most likely to use werable tech to monitor their health, with just under a third of 18-35 year olds using their mobile phones alone. As the trend for fitness tech continues, some insurance providers such as Vitality are already utilising the data gathered – a move which would be favoured by millennials, with three in four (61%) stating they would be comfortable with sharing their data with a life insurance provider.

The research also shows that half (50%) of those surveyed have both a life insurance policy and a health monitoring device. In fact, when looking at the way future life insurance premiums are calculated, over one in 10 Brits (12%) would happily take out a life insurance policy based on the data received solely from a wearable health monitor. For example, Apple watches now include ECG montiors[1]. Those in the West Midlands (15%) and London (12%) are most likely to opt in for this type of policy, with those in the South West being the least likely (five%). However, despite advances in technology, the majority of Brits (65%) would still prefer to take out a life insurance policy via the traditional methods of questionnaires and forms.

An individual’s lifestyle can also play a big part in how much they pay for life insurance. Smokers, for instance, can pay up to 50% more than a non-smoker for their policy[2]. Wearable tech could reduce premiums for those who demonstrate a healthier lifestyle and also provide rewards and incentives for healthy behaviour, such as reaching a specific step count.

Consumer affairs expert at MoneySuperMarket, commented: “Wearables are beginning to have a significant impact on the life insurance market. They build on the well-established premise that a person’s lifestyle and habits play a big role in determining how much they will pay for cover. The logic is simple: use a device to demonstrate your healthy lifestyle and get lower premiums in return.

“Anything that increases the uptake of life insurance has to be a good thing - it’s vital financial protection for family members in the event of a person’s early death. Understandably, many of us shy away from something that confirms our own mortality, but it is crucially important to have cover in place so that bereaved dependants at least have financial resources to call upon.”

(Source: Money Supermarket)

Widespread confusion about cancer symptoms among employees could be leading to delayed diagnoses and irregular self-examinations according to new research by Bupa UK.

One in two people in the UK will be diagnosed with cancer in their lifetime, however 53% of employees in the financial services sector are confused about what to check for when it comes to common cancers such as skin, bowel or lung.

The study found over half (56%) also say it is hard to remember the warning signs or physical changes they should look for. As a result, a third (32%) of employees have never checked themselves.

This confusion is one of the significant factors that could delay diagnosis. One in five (19%) employees said they have delayed seeking medical advice about a symptom as they “didn’t realise what to look for”. But for a fifth of these people (4%), this symptom was later diagnosed as cancerous.

Additionally, a third (35%) of those across the financial services sector would worry about taking time off from work to have a symptom checked.

Being able to recognise if something is wrong is important for improving survival rates, which is why Bupa has created a simple Cancer Check-CUP guide, which can be incorporated into health and wellbeing guidance for employees.

If someone experiences all three signs they should get medical advice.

Change:

Is something about your body different or unusual? Is something new, or does something feel ‘wrong’ to you? Trust yourself to know what is right and wrong and seek help.

Unexplained:

Can you pinpoint why something has changed, why you are feeling physically unwell? If not, it is worth further investigation.

Persistent:

Have you been experiencing this or feeling unwell for longer than two weeks? Watch out for the symptoms that you can’t shake off.

Creating a culture where people feel comfortable discussing health challenges at work can help ensure that employees receive the support they need, but the research also highlights that for nearly half (46%), cancer isn’t talked about in their workplace.

(Source: Bupa)

Finance Monthly hears from José R. Sánchez, the President and CEO of Chicago-based Norwegian American Hospital, who discusses what it takes to be a CEO of a hospital and the initiatives that the hospital has been up to since we last spoke a year ago.

I have been President and CEO of Norwegian American Hospital since 2010 and have had a long career in healthcare, going back 30 years, mostly in New York. I spent almost 16 years with the New York City Health and Hospitals Corporation where I held a number of positions during my tenure in various leadership roles. I was the most senior leader within the system, responsible for the largest healthcare network that included 3 hospitals, 23 clinics and over 9 000 employees. Healthcare is a very competitive field in just about every part of the country. The rules I follow are excelling in any responsibility given to me and managing an efficient operation. I focus on quality improvement, best practices, growing business, expanding services, addressing community needs and having a viable bottom line.

A successful hospital CEO knows how to cultivate leadership within the organisation. I believe that inherent leadership skills that engender the support and confidence of the providers, patients, and the surrounding community are most important. Good leaders will not only engage with their executive team but the best leaders are those who engage at all levels of the organisation. Additional skills that have been helpful to me are those I have been able to gain through roles in management and understanding operations, while staying updated on current changes in the market. I focus on identifying and bringing in the best talent for the success of the organisation. It is also important to understand the politics of healthcare. I believe there is a very close relationship between understanding the fundamental principle of operations in the healthcare setting and understanding how policies are shaped. You need to be able to balance both equally and be able to identify critical priorities and act on those priorities, on behalf of, or for, the benefit of the organisation.

As we understand today, healthcare is an evolving system. The direction of healthcare is very unclear and this is probably the most disruptive time ever in healthcare. Therefore, there is greater demand for training the workforce to respond to those changes. In order to make every attempt to have high moral in the organization, it is important to value the roles and responsibilities that the workforce has. Communication is also key for high morale, taking time to explain trends in healthcare, and working in collaboration as a team. Celebrate the successes openly and openly address the challenges we have every single day. Staff development is key to improving and maintaining high moral. Standardisation of policies across the board is critical and transparency is key as well. Trust is a major driver to maintain and improve morale.

The successes of Norwegian are many but we have been able to keep the doors open by being a proactive organisation, representing the needs of the community by creating specific programs that address the health disparities in the community. We also have been able to have a very lean, efficient organisation and have been a financially viable institution, posting a profit for the last 6 years. We made significant improvement in quality across the organisation and have received numerous recognitions and awards, both nationally and locally. In 2015, NAH received the Healthgrades® Patient Safety Excellence Award^™. This distinction put Norwegian American Hospital within the top 10% of all hospitals evaluated for their excellent performance in safeguarding patients from serious, potentially preventable complications during their hospital stays. We were recognized for having the lowest hospital inquired infection rate among 67 hospitals in Greater Chicago area. In 2017, our Pediatric Care-A-Van received the prestigious American Hospital Association NOVA Award. Only five NOVA Awards are given nationwide each year. We have engaged the community to be active participants in the hospital and to provide input to improve quality and community engagement. We also are very proud of our relationship with all the stakeholders in the community: community based agencies, schools and the business community. Some of our successes of pride include the financial investment for the renovation of the first floor of the hospital and the creation of our own family residency training program.

NAH has really addressed the healthcare needs of the community and taken responsibility to develop and grow the next generation of healthcare providers through our active participation with medical students and our resident program. We also are the largest employer in the Humboldt Park community, so approximately 65% of our workforce comes from residents of the community. We serve as the economic anchor to the surrounding communities. Norwegian American Hospital reinvests back into the community through programs to care for the underserved and uninsured, manage chronic conditions like diabetes, health education and promotion initiatives and outreach for the elderly. Our Comprehensive Diabetes Centre addresses the diabetes rates in our community that have risen exponentially. We also started a new Family Medicine Residency program to help attract new doctors to the area because physicians tend to remain in the communities where they complete their residency. Our partnerships with local faith-based organisations have opened doors to raise awareness of specific health needs in our community. Recently, Norwegian American Hospital donated land where a veterans’ home was constructed, a move that symbolizes a long-term commitment to Chicago’s homeless veterans and their quality of life. Our hope is that dependency on hospital services will be reduced. People living on the streets tend to cycle in and out of emergency rooms and in-patient stays. NAH is proud to be among the first hospitals in the City of Chicago to address homelessness and housing for veterans.

We have fully embraced the Affordable Care Act with participation during open enrollment periods to expand Medicaid for those individuals who are eligible for the program. We also support programs in the community and are active participants in health fairs. Community health fairs are go-to events for our local residents who want to learn more about a variety of health topics and wish to receive free or low-cost screenings. In addition, throughout the year, NAH offers numerous opportunities for the public to learn more about key health topics and how to incorporate healthy lifestyle changes. This year, we have a Care-A-Van that brings services to schools and children and families throughout the year. The state-of-the-art mobile clinic brings healthcare to 3 000 underserved children who otherwise would not receive care for asthma, obesity, diabetes, high blood pressure, lead poisoning and other preventable health disparities.

At the forefront of our agenda is our quality journey that has direct impact in patient outcomes. Each quality service line has a dashboard that reports clinical metrics. We have an external affairs committee that was developed several years ago with members who are residents of the community. They have become the ears of the community to provide input to hospital leadership as it relates to improving care and communicating community concerns and needs. We do a community assessment regularly to evaluate and understand the need for services required in the community. Our commitment to improve healthcare outcomes and patient safety is manifested in the performance results of several national clinical measures within the Centers for Medicare and Medicaid Impatient Quality Reporting Program. NAH exceeds the national scores or benchmarks in many categories which include mortality, patient safety indicators and Hospital Acquired Infections. We exceed the national benchmarks in five out five mortality categories and six out of seven patient safety indicators, with a slightly better overall patient safety score than the national benchmark. NAH is accredited by The Joint Commission for hospital and behavioral health programs; College of American Pathology for laboratory services; Healthcare Facilities Accreditation Program (HFAP) as a Certified Primary Stroke Center; and Illinois Department of Public Health’s (IDPH) Level II Perinatal Care Certification.

The goal of the hospital is to change and evolve every day. We need to be adaptable to a very disruptive healthcare environment. We have to focus on trends in healthcare which includes the triple aim of quality, population health and financial viability. The policies of the state continue to change and we need to adapt and respond quickly to those changes. It is clear that our goal needs to be on quality improvement, best practices, expansion of services, efficiency and using technology as a tool to help us accomplish our objectives. NAH recognizes that health is more than simply treating patients who come through our doors. We want to build not only a healthier, but a more prosperous community.

2018 has been a trying year for healthcare. We are beginning to see acceleration of mergers and acquisitions throughout the country and beginning to see merging models of care. In 2018 we are beginning to see other providers emerging in the market, such as CVS, Walgreens and others.

We are beginning to look at challenges and changes in healthcare and at opportunities to improve the current system. Certainly, in this very difficult time there are great opportunities to improve care, address the need of consumerism, growth and efficiency and develop new models to address the population needs. Healthcare today is about collaboration, we can no longer exist in silos. The solution to many problems will require a collective effort of sharing information, sharing responsibilities and focusing on innovation. I suggest that new leaders need to pay attention to demographic changes in the country as well as the elderly population that continues to grow. We need to not only focus on health, but the social determinate of health: food, housing and transportation. Prevention and education will continue to play a significant role to the outcome of interventions we will make.

2018 will be a year to focus on positioning ourselves strategically on many different fronts. Growth, efficiency, financial viability and adapting to the new healthcare order. We will focus on sustainability and leverage the gains we’ve made. We will create more growth opportunities for the hospital outside of our four walls. Our focus will be on shaping policies that address the needs of the people who comprise this community. We will continue to find funding solutions for the programs that have been subsidizing NAH. We will do all of this so that we can continue to provide the highest quality of care for the most vulnerable members in our community.

Positioning the hospital for 2018 is in the hands of the leadership of the hospital to create the vision and future to keep the tradition of Norwegian American Hospital alive, which has served the Humboldt Park Community for over 120 years.

Website: https://www.nahospital.org/