With the Coronavirus (COVID-19) at the top of everyone’s radar right now, the changes that it will affect are prevalent. Facing the possibility of quarantine, on top of the present business closings, places the livelihood of individuals and families in jeopardy. While individual health is of immediate concern, personal finances will be right on its heels.

Although often overlooked, there are many similarities between health and wealth. Financial instability leads to the onset of health instability. In turn, health instability leads to the onset of financial instability. Taking charge of one can be the key factor in improvement for the other.

COVID-19 will indeed impose stress on individuals and families. Stress can attack health in many ways, i.e. anxiety, depression, hypertension, cardiovascular disease, and diabetes, which can ultimately attack finances in the form of medical expenses and additional time from work. It is important to recognize the direct correlation between health and wealth in efforts to minimize the lasting effects.

In the midst of the COVID-19 Pandemic there are a few actions that can help maintain a healthy and wealthy lifestyle:

Health Action Steps

According to Alabama Cooperative Extension Human Sciences Regional Agent in Human Nutrition Diet and Health, Helen Jones, a few health action steps would include incorporating consistent physical activity, reading and being mindful of nutrition labels on food, decreasing calorie intake, and calculating body mass index.

Wealth Action Steps

A few action steps to target wealth would be to start tracking household spending or creating a budget/spending plan, collecting coins or pocket change in a jar, and establishing automatic payments/savings.

To ease the incorporation of these health and wealth steps, here are a few strategies:

Track your current behavior – Awareness of current behavior, both financial and health wise, bring

accountability to the successes and shortfalls. This is where change can begin.

Put your mind to it –visualization of what you want to achieve is the best motivation. This is also a

distraction from the stresses and current situation showing the light at the end of the tunnel.

Make progress everyday – Do something positive making a single step toward your goal every day.

Instant overhaul is not necessary. Change comes one-step at a time.

Think balance not sacrifice – Positive change is about tradeoffs and balance not sacrifice; balance the

intake and outgoing.

Remember to tackle health and wealth simultaneously, just as they attack simultaneously, not either/or.

For more information on this topic or other financial management questions, please call Cynthia White, Regional Extension Agent, at 334-740-6220 or email cdw0045@aces.edu.