Q: What do personal financial planning and a walk in the park have in common?
A: Both can benefit your physical and mental health.

Money was named as a significant source of stress by nearly two in three adults surveyed by the American Psychological Association in 2020. The COVID-19 crisis has compounded money worries for many Americans; in that same survey, more than half the respondents said they'd experienced negative financial consequences from the pandemic.

Maybe you've experienced anxiety over money at some point in your life. Over time, stress can lead to serious health problems. Fortunately, by creating and implementing an action plan to clean up your finances today and achieve goals tomorrow, you can manage money-related stress and improve your body-and-mind wellness.

Among the health challenges that stress can trigger or intensify are anxiety, sleeplessness, depression, headaches, ulcers, high blood pressure and cardiovascular disease. Stress can lead people to adopt unhealthy coping mechanisms, such as smoking, binge eating and excessive drinking. Some may forego preventive health exams or put off treatment for a serious medical condition.

Taking charge of your finances can benefit more than your cash flow and net worth. With fewer money worries weighing you down, you might become more inclined to adopt positive, everyday health habits — such as that walk in the park we mentioned. You may also find it easier to focus at work, which could boost your job performance, career satisfaction and overall outlook on life.

The relationship between financial wellness and physical and mental health works in the other direction, too: improving your health can do great things for your financial bottom line. For example, when you neglect your health, you potentially set yourself up for high medical bills in the future. But when you shape up your body and mind, you can also give your finances a boost. Case in point: on average, by choosing to live a healthier lifestyle, an individual can require less medical intervention and save more than $10,000, according to the Johns Hopkins Bloomberg School of Public Health.

The EY Navigate™ website and mobile app are great places to chart your course toward better finances. The site and app contain a wealth of resources and easy-to-use tools for your personal financial planning. Also, for one-on-one, personalized guidance, call the EY Navigate™ Planner Line.

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This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, legal or other professional advice. Please refer to your advisors for specific advice.