People should pay attention to their overall wellness, and if they don’t, the consequences could be dire, according to wellness expert and best-selling author Deepak Chopra.
Total wellness encompasses purpose, or career, social, physical, community and financial factors, he said. For example, community well-being can mean feeling safe and involved in your community, while social well-being can be the quality of the relationships you have with family and friends.
“Unless we address these five wellness cubes … we are headed for global disaster,” said Chopra, founder of both The Chopra Foundation and Chopra Global. He is also a member of CNBC’s Invest in You Financial Wellness Council.
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Financial health is more than just your position on your money. If you are financially stressed, it will increase your cortisol levels and weaken your immune system.
“Inflammation increases, making you more susceptible to chronic and acute diseases, including Covid-19,” he said.
However, the pandemic is also a cause of financial anxiety for many. Millions of jobs have been lost, wages have been cut and some parents have had to leave the workforce to care for their children.
More than 4 in 5 Americans, or 84%, are experiencing personal financial stress from the crisis, an October survey by the National Endowment for Financial Education found.
Another survey by Fidelity found that 79% of women, who tend to suffer more financial anxiety than men, are overwhelmed by money and stress.
While there may be real reasons you’re anxious about money, financial wellness is ultimately a state of mind, said Chopra, whose latest book is “Total Meditation.”
“It has nothing to do with the amount of 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 wellness:
- Don’t spend money you haven’t earned to buy things you don’t need, to impress people you don’t like.
- Save 10% of your income each month. “I’ve been doing it since 1970, when I was making $ 202 a month.”
- Find an employer that takes care of your employees and offers benefits like 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. “If you have a healthy body, if you have good emotional relationships, and if you have a rested mind, you will make sound financial decisions.”
- Make other people successful, which is the best way to be successful yourself. “In my career I discovered that if I could make other people earn money, I would also earn money.”
Chopra says that she strives every day for a joyful and energetic body and a compassionate heart, as well as a clear, thoughtful, alert and creative mind, and joy and lightness of being.
“If you are complete in your body, in your emotions, in your mind and in your spirit, you can achieve anything, even have a very successful career and earn a lot of money,” he said.
REGISTER: Invest in yourself – done. Place. Grow up. is hosting a free virtual 5k for financial wellness April 12-19 to promote financial wellness. Throughout their career experience, users will receive saving, spending, and investing advice as well as motivational quotes on financial wellness from wellness expert and member of CNBC’s Financial Wellness Advisory Council, Deepak Chopra. Sign up here: cnbc.com/virtual5k
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