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While we are all about saving and investing at Phippen Tax & Financial Services, there are some categories where spending now can help you spend less later and live a longer, happier, and healthier life. Spending on your health is a key area of spending important to all life optimizers. If you feel passionate enough to create enough wealth to be able to have adventures, retire early, or retire at all, then it makes sense to invest in your health to have the mobility to thoroughly enjoy those adventures, enjoy that early retirement, or have more years in regular retirement.
A lot of us (myself included!) put off some routine health maintenance when we are young, thinking we will get to it when we are a bit older. First off, prioritize health maintenance, regular checkups, and basic health routines even if you are 20 years old. Once you have that down, it can still be worth spending a bit more on areas to optimize your health.
You can always make more money, but you will not get back a single second of your life. That moment when you read that last sentence is already gone forever! The best way to give yourself additional time is through some additional spending on your health. Below are six areas that I find worth spending on to improve health. Spending extra on them gives me the positive energy to accomplish in a day what most do in a week, and I swear by all of them.
1. Exercise
This is the least surprising item on this list, if we have ever met. But it is important to be picky about this: Do not buy the gym membership that you will only use once a month or the running shoes that will at best be a fashion accessory. Invest in exercise you will actually accomplish. Get to know yourself well enough to know what that actually is.
For me, this means playing rugby. Having a team sport gives me a target that inspires me not to miss workouts. If I do not go to the gym, I will let down 22 teammates and two coaches that I care about and inspire me to be a better person, so I am going to the gym. If the team mentality works for you, embrace it and use it as inspiration. Spend the money for equipment, membership, and whatever else goes along with your team sport of choice.
I am also efficiency-obsessed and would previously miss workouts when the gym I had access to was inconvenient. I also hate going to the gym in the evenings because waiting for equipment frustrates my impatient nature more than I can describe. To compensate, I pay the HOA fees to live in a building with a gym that is enough, buy a bit of my own gear if I feel something is lacking, and lift during my lunch break four days a week. Since I abhor the crowded evening workouts, I also split my workouts so I run at a separate time than I lift. (Right now, that means morning runs since it is summer!)
Your preferences may be different from mine. Having the most well-equipped gym may inspire you to go each day, even if it is across town, or you may love the social aspect of a full gym at 6:00 p.m.. If I tried to attend a gym across town in the evening, I would never go. But you may not be able to get up before 7:00 a.m. for a morning run after an evening rugby practice. We all have our preferences, so learn yours and spend money on what is most important—whether it is proximity, quality, multiple gym options, new running shoes, membership at the tennis club, or whatever else.
2. Sleep
I used to be the 20-year-old who thought 4–5 hours of sleep was sufficient and there simply was not enough time for a full eight hours of sleep. Who had time to sleep when there was so much to do?
While that 20-year-old was able to keep up enough with 4–5 hours of sleep, she accomplished an exceedingly average amount in a day, week, month, and year relative to what I do now. This is the biggest hurdle for anyone trying to start getting enough sleep but worried they will not be able to accomplish enough without those extra hours of awake time: You will accomplish so much more so much faster when well rested versus when you are sleep deprived. You cannot fathom what you are capable of in so few hours if you just sleep.
The other hurdle with sleep is those who are convinced but cannot convince their bodies to just go to sleep. If this is you, invest in it. If you really cannot sleep, see a doctor and get a sleep study if you need it. Buy yourself some sleep resources and read about how to improve your sleep. Before you go all in with sleep studies, you can also try some smaller investments to see what works for you. I swear by a sleep mask and ear plugs and wear both each night as a light sleeper. I also need the temperature to be colder at night, so I let a fan run despite the extra electricity. Invest in the right pillows and sleepwear to be comfortable, and even buy yourself a mattress that promotes sleep if you need it. Seriously, spend whatever you need to go to sleep.
Additionally, do not forget this free sleep hygiene point: Stop eating at least three hours before sleep, and remove yourself from all screens at least an hour before sleep. (Trick from someone who has to recover from rugby practice late: I sleep better when I eat dinner at 3:30 p.m. like I am 200 years old and just drink a protein shake after practice at 9:00 p.m. since real food interferes with my bedtime.)
3. Nutrition
The spend tips here are pretty simplistic: Spend on food that is good for you that you actually enjoy! Good fuel fuels a good life.
I have also noticed (from literally tracking the cost of each food item because that is who I am as a person) that, despite many rumors to the contrary, it can be less expensive to eat healthy foods. We prepare all vegetarian food at home, with the exception of sparing grill nights in the summer, and this is both cheaper and healthier for our hearts. Yes, fruits and vegetables can be more expensive on a calorie-by-calorie basis than Doritos. But they are way cheaper than red meat or Brie cheese. Particularly if you are willing to buy in-season produce.
For reference, we spend about $225/month on average on groceries for two people in an expensive Washington, DC neighborhood.* We also dine out about once a week and spend $200/month on average on takeout, restaurants, dining, and/or my need for an ice cream in the summer. If we removed dining out from our budget altogether, our monthly grocery budget would likely be in the $250 range. If you are struggling with your own grocery budget, eliminating food waste is a worthwhile effort. That said, if you need to have a higher food budget to buy foods that are both healthy and enjoyable to you, raise the budget and buy foods that are good for your happiness and your heart!
4. Physical Recovery
This is a category in which many would say I am bougie, and I accept that as a compliment. I will happily pay the $165/month I spend on a sports massage. (It technically costs a bit less, but my massage therapist is an amazing person who deals with all the broken rugby players I send her, so she deserves more than that.) Regular sports massages allow me to recover better than most, have better workouts, avoid injuries, and keep tabs on any lingering issues with my physical health. The regular detail is important to me: Working with the same person consistently over time means she knows my normal issues and can recognize when something is different from normal. She can tell when I tackled someone weirdly, spent the past two weeks running on uneven surfaces, or sat at the computer too much.
If you do anything athletic, get regular massages. Even if you do not, regular physical recovery is important. Chiropractors, massage therapy, physical therapy, and all the other types of recovery just improve what you can do in a day. If you do not know where to start, consult your doctor and find out what recovery might be right for you! An additional note here: If you have any sort of chronic pain, do not ignore it. Go see a doctor and address it. The sooner you see a professional, the sooner you can start living fully.
Outside of sports massages, I spend a lot in this category on at-home remedies to help me. I own a pair of compression boots for regular recovery. (To be honest, I bought these early in the pandemic when I started feeling awful after not seeing my awesome massage therapist for too long, but they have become part of my regular recovery.) I also have smaller items like a foam roller, ankle weights, and exercise bands to assist in recovery. I do not regret any of these purchases and usually wish I made them sooner.
5. Mental Health
Investing in your physical health and recovery is important, and your mental health is no different. Personally, a lot of this overlaps with my physical health because there is something therapeutic about tackling, but it is also important to check in with yourself and make space specifically for your mental health. I love taking time with just a book, myself, and the pool on sunny weekdays or weekend mornings and find it extremely refreshing to be outdoors and at peace. I also make it a point to go by the river each day, whether running or walking, because it relaxes me and gives me some nature without also giving me allergies. Paying the HOA fees to live where I do provides a lot of the opportunity for good mental health practices as well as exercise. Mental health often requires paying in time as opposed to dollars, similar to sleep, so it is often helpful to allow yourself to take time away when you could be earning money to prioritize yourself.
This time trend is also true when it comes to fostering relationships with the friends and family members that compose your support system. Taking time for the folks you go to for help is important, even in the moments when you do not need help. That said, sometimes it is also worth investing money to talk to a professional about your toughest issues. Similar to having a consistent massage therapist who knows when your body is off, having a consistent therapist to help you through your toughest issues is important for your mental health and overall wellness.
Finally, creating an environment that provides you what you need for your best mental health is optimal. This can mean living with others or alone, working with others or alone, finding certain activities that improve your happiness, or finding ways to decompress. Our individual environmental needs are all different, so learn what you need to create an environment that improves your mental wellness.
6. Teeth
This one may seem oddly specific, but the teeth are an indicator of your overall health. When things go wrong with your teeth, it ruins your life. On a basic level, this means you should go to the dentist for regular cleanings and checkups. On a more advanced level, buy that electric toothbrush. This is something I put off for a long time because of my issues with hating shopping, but I finally did it after repeated recommendations from my dentist. Like all other health purchases, I should have made it sooner.
Oh, and please floss each day. The best advice I have heard: “Only floss the teeth you want to keep.” Go buy some floss if that seems important to you. Just do pretty much everything your dentist recommends because teeth are weird and finicky things that affect everything. Spend money to keep them healthy!
Spend money to keep your whole self healthy. This list is not comprehensive, but hopefully it gets you thinking about a way you could spend a bit more to improve your health. Wealth is nothing without health.
* It also can be more difficult to get your grocery bill that low if you live paycheck-to-paycheck since folks without any room in their budgets cannot buy the Costco pack of rolled oats to provide breakfast for a couple months for less than $15. If this is temporarily your reality, then your grocery budget will likely be higher. However, if you cannot see a path to finding room in your budget to be able to buy a couple items in bulk, it may be worth analyzing your needs expenses to see if it is possible for you to make adjustments that will make your budget easier to manage.
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