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Life Resources

Learn more about life insurance with these useful materials

Life Resources

Learn more about life insurance with these useful materials

March 23, 2023 // All lifestyle

Why Financial Wellness Should Be Part of Your Health Goals

By: Dana Harvey

We all make big plans at the start of every year, but do those goals you write out also include financial health goals? Pretty sure everybody locked in “go to the gym”—I know I did—but did anyone add “secure your financial future?” Experts claim that individuals with financial stress are twice as likely to experience poor health overall.¹ So, let’s take a deep dive into why you should strive to eliminate financial stress to aid your holistic well-being.

Dana Harvey's family poses for family photo on a beach

Let’s first define financial wellness as a state where you can meet your money needs right now and in the future. Money worries are the number one stressor across all ages;² therefore, the goal isn’t just to make a lot of it. In fact, a study³ shows “leaving an inheritance for their kids” as one of the most selected reasons millennials in their mid-20-30s purchased life insurance.

I’m sure we’ve all worried at least once about saving for retirement, tackling school debt, or leaving our children with secure financial footing. Stressors like paying down your debt or saving for the future can manifest into physical and mental symptoms like sleep loss, anxiety, headaches, compromised immune systems, high blood pressure, depression, and so on. It’s a dangerous cycle we can put ourselves in. And with mental health and financial wellness going hand-in-hand, when one starts to falter, the other goes down with it.

Dana Harvey's husband and three young children watch the waves at the beach

For those a little shaken by the potential of getting caught in the dangerous intersection of financial stress and your overall health, it’s time to explore the tools you can use to avoid it. Developing a better financial situation for yourself and your family can help you to live a happier life. Over time, you’ll become more confident in your money management and significantly decrease money-related stress. Often, it’s not about having more money, but rather how you manage, invest, and spend it.

I believe I can speak for most parents when I say, we all have an endless to-do list and we constantly worry. My husband and I have found that delegating said to-do list and relieving some of that worry brings us the most peace, ultimately allowing us to become better parents. For example, as two self-employed parents, we made it a priority to relieve the financial burden we would encounter if one of us were to pass away unexpectedly. We recognized paying a small price each month for life insurance to ensure our family’s financial security was a large piece in living a happier life, unburdened by worry.

Life insurance coverage may cost less than you think

We can all add financial wellness goals to our lists, regardless of income, how much debt you’re in, or any uncertainty about the future. There is no one-size-fits-all when it comes to finances, so your goals will revolve around what does and doesn’t work for you.

The Harvey family takes a candid photo on the beach in formal wear.

Some examples of financial goals (short- and long-term) to help improve your mental health would look something like this:

  • Make enough income to live comfortably
  • Take a class about financial literacy
  • Purchase life and disability insurance this year
  • Purchase a life insurance plan with an investment component
  • Have no debt, or your debt is manageable and being repaid on a schedule
  • Re-evaluate and ensure your life insurance policy covers the current lifestyle of your family
  • Open a 401(k) or IRA this year
  • Build a six-month emergency fund
  • Pay off your mortgage within 20 years
  • Build your credit score above 800 by next year

The Harvey family plays on the beach

Just like when we aim to meal prep when starting a diet, setting up good financial health now prepares you and your family for a secure future later. Having a clear vision will motivate you to avoid financial burdens in the future and keep you committed to your overall progress for financial wellness. This year, set up some goals that will manifest into health and financial wellness. By doing so, you could actually change your life.

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¹Ryu S, Fan L. The Relationship Between Financial Worries and Psychological Distress Among U.S. Adults. J Fam Econ Issues. Epub 2022 Feb 1.

²Bennett, R. (2022, October 5). Most Americans are significantly stressed about money — Here’s how it varies by demographic. Bankrate. Retrieved February 15, 2023, from

³Rose, G. (2022, November 16).
How to Use Life Insurance to Leave an Inheritance
. Nerd Wallet. Retrieved February 15, 2023, from