People need to take care of their overall wellbeing, and if they don’t, the consequences could be dire, according to wellness expert and bestselling author Deepak Chopra.
Total wellbeing includes social or physical, financial, community and financial factors. For example, community wellbeing can mean feeling safe and involved in your community, while social wellbeing can be the quality of relationships you have with family and friends.
“If we don’t address these five buckets of wellbeing, we are facing a global catastrophe,” said Chopra, founder of both The Chopra Foundation and Chopra Global. He is also a member of the CNBC Invest in You Financial Wellness Council.
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Financial health is more than just where you are with your money. When you are financially stressed, it increases your cortisol levels and weakens your immune system.
“You have inflammation that makes you more prone to chronic and acute illnesses, including Covid-19,” he said.
More than 4 in 5 Americans, or 84%, feel stressed because of the crisis under their personal finances. This is the result of an October survey by the US government National Foundation for Financial Education found.
While there may be real reasons to be concerned about money, financial well-being is ultimately a state of mind, said Chopra, whose latest book “Total meditation. “
“It has nothing to do with the money you have, it has to do with how safe you feel with the money you have,” he explained.
Here are Chopra’s five tips for financial wellbeing:
- Don’t spend money you didn’t deserve to buy things you don’t need, to impress people you don’t like.
- Put away 10% of your income every month. “I’ve been doing this since 1970 when I was making $ 202 a month.”
- Find an employer who cares about their employees and offers benefits such as retirement, disability and insurance. Work with friends and people you like. Otherwise you will not be successful in your career.
- Don’t ignore your body, mind, and emotions. “When you have a healthy body, when you have good emotional relationships, and when you are a rested mind, you will make wise financial decisions.”
- Make other people successful, which is the best way to be successful yourself. “I’ve found in my career that I would also make money if I could get other people to make money.”
Chopra says he strives every day to have a joyful, energetic body and a compassionate heart, as well as a clear, reflective, attentive and creative mind, as well as joy and ease of being.
“When you are completely in your body, in your emotions, in your mind, and in your spirit, you can achieve anything including a very successful career and a lot of money,” he said.
REGISTRATION: Invest in you: done. To adjust. To grow. is hosting a free virtual 5k on financial wellness from April 12th to 19th to promote financial wellbeing. Throughout their racing experience, users will receive tips on saving, spending, and investing and motivational quotes on financial wellbeing from wellness expert and CNBC Financial Wellness Advisory Council member, Deepak Chopra. Sign in here: cnbc.com/virtual5k
Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.