It turns out financially disciplined people not only practice great money habits, but they’re also much more likely to take care of their health, according to a study by TD Ameritrade Holding Corporation.
These “doers,” as the survey names them, maintain a 401(k), a 403(b), and an IRA, and 80 per cent of them make sure to get a yearly physical exam compared to only 72 per cent of “dreamers”— those who may or may not own a retirement account.
Other differences include exercise, with 63 per cent of “doers” saying they exercise three to five times a week, and 82 per cent of saying they regularly eat a healthy and balanced diet. Only 49 per cent and 71 per cent of “dreamers” practice the same healthy habits.
Doers also follow at least five of the following good financial practices:
Behave more like a saver than a spender
Live within their means
Automatically deposit money from their monthly income into saving
Have a budget and follow it
Track household expenses
Pay off credit card debt as quickly as possible
Contribute to an employer-sponsored retirement account
Contributed to an IRA in 2010
The “dreamers,” on the other hand, practiced four or fewer of the above exercises and, as explained earlier, may or may not own a retirement account. Only 33 per cent of these guys consider themselves to be savers instead of spenders, while a whopping 78 per cent of the “doers” think that of themselves.