NEW YORK (MainStreet) — It turns out that being in good shape physically has a benefit: It helps grow wealth, in addition to muscles and endurance.
Maybe that translates into the ability of carrying large sacks of cash to your bank and maybe not, but one major bank is as serious as a 300-pound bench press that good physical condition leads to good fiscal condition.
According to TD Bank, which surveyed 1,444 U.S. adults on the topic, Americans believe a regularly used gym membership is as important to their financial health as a savings account or 401(k).Read More: Banks Want 'Responsible' Customers, but Rewards Don't Show It
The survey ostensibly covered how well Americans are doing on their New Year's resolutions, with health and finance being at the top of the list of survey questions. What the bank actually found was a direct correlation being health and wealth, with 70% of respondents saying "financial and physical fitness goals go hand in hand."
That's just for starters:
- Respondents satisfied with their financial well-being were more likely to be doing well with health-related goals.
- 81% of those surveyed say that if finances are in order, other goals are easier to accomplish.
- 70% of consumers surveyed reported that financial health can have a positive impact on physical health.
Most revealing is this: Only 36% of survey participants say they are "satisfied with their current financial health," but that figure rises to 65% if Americans are also satisfied with their physical health.
Is it relief from feeling good that leads to higher wealth? Who knows, and who cares? If there's decent data that show good health and good wealth can go together, why not go with the flow and work on both resolutions simultaneously?
"It's no surprise that getting your finances in order can relieve stress, but our research shows that it can also positively affect physical fitness," says Ryan Bailey, director of retail deposit products at TD Bank. "With resolutions still top of mind, it's important for Americans to know that working on your wallet can also benefit your waistline."
"You don't have to choose one or the other," he says.
— By Brian O'Connell for MainStreet