Having sufficient wealth is often an indicator of good health, and the opposite is just as true.

Wealth is a term that is often associated with material possessions and financial assets. While wealth can bring a sense of security and comfort, it can also have a significant impact on our overall health and well-being. This sounds contrary to the old adage “Health is Wealth”, but hear us out.

Numerous studies have shown that there is a strong positive correlation between wealth and health, mental well-being, and happiness. In this article, we will explore the various ways in which wealth impacts our health and why it is important to prioritize our financial well-being.

Physical Health

The prevalence of non-communicable diseases such as heart disease, diabetes, and cancer has been increasing over the years. According to a report by the Malaysian Ministry of Health, non-communicable diseases accounted for 71% of all deaths in the world in 2019. The report also highlighted that physical inactivity is a significant risk factor for these diseases.

Therefore, it is crucial to encourage individuals, regardless of their socioeconomic status, to engage in regular physical activity to prevent the onset of these chronic diseases.

Wealth plays a crucial role in promoting physical health. Studies have found that wealthier people tend to exercise more frequently and vigorously than those who are not as financially stable.

The World Health Organization (WHO) has stated that physical inactivity is one of the leading risk factors for noncommunicable diseases mortality.

Regular exercise has been shown to reduce the risk of chronic diseases such as heart disease, stroke, and diabetes. Wealthier individuals are more likely to have access to resources such as gym memberships, personal trainers, and healthier food options.

In contrast, those with lower incomes may have limited access to these resources and may be more likely to engage in unhealthy behaviours such as smoking and consuming a diet high in processed foods.

Mental Health

Secondly, wealth can have a significant impact on our mental health. Financial stress is a common source of anxiety and depression, particularly in individuals who struggle to make ends meet. According to a survey cited by the Ministry of Communications and Digital, financial problems were stated to be among the top causes of stress among Malaysians.

Financial stress can be chronic and long-lasting, leading to a negative impact on mental health over time. Additionally, individuals who struggle financially may have limited access to mental health resources, which can exacerbate their mental health conditions.

Conversely, wealth can provide a sense of security and stability, which can promote mental well-being. Having financial resources can reduce stress levels and provide individuals with the means to access mental health resources if needed.

In Malaysia, mental health remains a taboo topic, and many individuals may not seek help due to social stigma. Therefore, promoting financial literacy and encouraging individuals to prioritize their financial well-being can help reduce the negative impact of financial stress on mental health.

Happiness and Contentment

So, it seems that wealth can impact our happiness levels. While it is often said that money cannot buy happiness, research suggests that there is a positive correlation between wealth and life satisfaction.

A study conducted by the Wharton School at the University of Pennsylvania found that individuals with higher incomes reported higher levels of life satisfaction. This finding contradicts the belief that money only provides happiness up to a certain point and that beyond that point, additional wealth does not contribute to happiness.

This is because having the financial capacity can also provide individuals with the means to pursue their passions and hobbies, which can further contribute to their happiness. For example, individuals who are passionate about travel may be able to travel more frequently if they have the financial means to do so.

In contrast, those who struggle financially may have to forgo their passions and hobbies due to financial constraints.

Ease of Access

Wealthier individuals tend to have access to resources such as nutritious or organic foods, quality healthcare, and safe living environments, which can contribute to better health outcomes. These individual would be able to pay for insurance that in turn, would alleviate the stress from loss of income from an accident or illness.

On the other hand, individuals with lower socioeconomic status may face financial constraints that limit their access to such resources, leading to poorer health outcomes. Lifestyle factors such as exercise and diet also play a significant role in health outcomes and can be influenced by socioeconomic status.

Therefore, addressing income inequality and promoting access to resources that promote health and well-being can help mitigate the negative impacts of socioeconomic status on health outcomes. We cannot deny that wealth plays a significant role in promoting physical health, mental well-being, and happiness.

Conclusion

To sum it up, there is a strong correlation between socioeconomic status and lifestyle when it comes to wealth and health. While money cannot solve all of life’s problems, having financial resources can reduce stress levels and provide individuals with access to resources that can promote their overall well-being.

In Malaysia, where non-communicable diseases and mental health problems are prevalent, promoting financial literacy and encouraging individuals to prioritize their financial well-being can have a positive impact on public health. Financial literacy can equip individuals with the skills and knowledge necessary to manage their finances effectively, reducing financial stress and promoting mental well-being.

While it might often be said that money cannot buy happiness or health, research suggests that wealth can have a significant impact on our physical and mental health as well as our overall life satisfaction.

Therefore, it is crucial to prioritize financial literacy and promote economic and social equality to ensure that all individuals have access to resources that promote health and well-being. By doing so, we can create a healthier, happier, and more peaceful society.

 

Do you agree that having sufficient amount of wealth equates to a better, happier life? Let us know in the comments down below.