Financial Wellness: A Possible Oxymoron
How Finances and Health are Connected
I’ve been reading a bunch more lately, as our internet is not as reliable as this past summer. We decided to take next summer off from jobs that give us wages. With that in mind, we are financially planning for 2018. We have to do this for our ACA healthcare for 2018. The open season to sign up for healthcare started November 1 and goes until December 15, 2017.
Maybe Financial Wellness won’t be an oxymoron after all.
Think of this: we have to know how much we are going to earn in 2018 for the Healthcare signup. If we had jobs, this would be easy, just use this year’s numbers. However, that scenario isn’t happening for us.
We have to decide on healthcare coverage for 2018 using future possible wages (none), earnings, investments, and property sales.
Financial that word either as an adjective or a noun, deals with money, expenses, income, investments, even debts and budgets. The word Wellness deals with, usually, health of the mind and body in a positive way. Physical and/or mental health, if done well, means less visits to the doctor and dentist, less medications, the ability to move around without pain, and enjoy your life.
Putting the words together, especially during the open enrollment for healthcare, still seems strange. While they are not complete opposites of each other, like a true oxymoron saying of Jumbo Shrimp, the words are usually not seen together.
However, it does make sense. You need to plan for the future, even when you are not sure what the future holds. You have to figure out what your body and mind want in the future and make your finances follow. If you keep doing the same as what you did in the past, you will keep coming up with the same results.
When we decided to sell our RV Lot in Moab, Utah, and not work at regular jobs, we created more questions than we had answers. We found an accountant who enjoys the same full-time RVing Lifestyle. He was able to help us answer the questions and allowed us to plan.
This open season for healthcare has also helped us organize in other avenues. We wash the rig at least two times a year, getting up on the roof to all the way down to polishing the chrome on the wheels. This time is a first since buying the rig in November 2009 that we are washing and oiling the cabinets! Our cabinets throughout the rig are wood and wood veneer. This means that the cabinets do not add too much weight to the overall rig.
You could say that I am not into cleaning. My goal in life is not a pristine, clean living environment. I am not spending my life energy on cleaning. But, I do like organization, and right now, we have more “things” than we need. So, I put something I like to do with something I dislike. Voilà, a cleaner and more organized living space with less cramming of stuff!
Cleaning & Organizing & Financial Wellness
This cleaning and organizing also goes back to financial wellness, financial because selling or donating things we don’t want or need. Wellness of both mind and body with less stress and less searching. Plus, there have got to be some good karma points when you donate hundreds of dollars’ worth of National Park Service clothing to needy Park Rangers.
Debts and Loans
People have said to me, that I do not understand their situations because I have not been in the same debt and loan situations. Yes, it is true that I have never been under crippling debt nor credit card debt. Neither has Sasha.
However, I had graduate school debt. My parents paid for my college, Thanks Mom & Dad! I went to graduate school in 1993/1994. One full year, no degree, and $20,000 in school loans, I managed to pay off those loans in two years.
How? I lived at home, again, Thanks Mom & Dad. I lived way below what I brought home in wages. Thanks to my parents for not accepting rent while I worked to pay off those loans, I forwent retirement payments and 401K until those high interest loans were done. I also had a car payment that I re-financed to five years. By the time I met Sasha in the summer of 1995, the school loan debt was paid off. I had done this with a job that was less than $25,000 a year.
When we moved in together, in January 1996, Sasha stated that rather me help him pay his mortgage, he would help me pay off my car loan. We did not want any loans other than a mortgage before we got married.
At the time, school loans could not be written off your income taxes, and car loans are not written off for non-self-employed people. Before Sasha proposed, he paid off the last of my car loan, $2,000!
While we are probably not a typical couple, our experiences are varied enough to help others plan their financial wellness into the future.
We follow the Principles of Your Money or Your Life, Transforming Your Relationship with Money and Achieving Financial Independence. We try to live softly upon the earth and practice voluntary simplicity and frugality.
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