3 Simple Lifestyle Habits That Help People Stay Wealthy And Wise As They Get Older, Says Psychology
Staying wealthy and wise is about doing these three simple things really, really well.
AdamRadosavljevic | Canva Have you stopped to reflect on how your current lifestyle will affect your life as you get older? Our wants and desires for our older selves can usually be boiled down to a few core items.
Whatever your life desires may be, they most likely fall under the umbrella of happiness, wealth, and knowledge — and as we aim to achieve all of these things, the first place to look is your internal habits and how you live your life on a pretty basic level.
Here are 3 simple lifestyle habits that help people stay wealthy and wise as they get older, says psychology:
1. Being a homebody
It doesn’t take rocket science to realize that a bunch of your hard-earned money can get sucked away by just a few hours out. Drinks? Expensive. Food? Expensive.
Lyft fare, event parking, admission costs: It can all add up relatively quickly, and before you know it, you’re down a hundred bucks. But what’s the real cost?
If you’re one of the many, many people in the US who earn around ten dollars an hour, when you spend fifty dollars on a meal and some drinks, you’ve just sent five hours of your life into your tummy. Do this once a week, and you’re looking at around twenty hours of your hard work going straight into the toilet each month — quite literally.
So, if you limit your time out in the world and instead have a meal at home, a cheap bottle of wine, and curl up with some Netflix, your wallet will thank you for the investment. You can always use the money you’ve saved on something really great later down the line, too.
The ability to resist immediate rewards for a larger future reward is consistently linked to greater wealth accumulation. Studies indicate that while financial literacy can decline after age fifty, experience, and lower negative emotions related to financial decisions can benefit older adults' financial decision-making.
2. Limiting alcohol
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Ever go into work the next day after a binge when you’re straddling your thirties? It feels like Death woke you up by hacking you in the brain with his scythe. If you’re going out once a week when you could be at home, relaxing and not scaling the probability of liver failure up with every drink, then you’re wearing yourself — and your liver — down.
Maybe try catching up on a show you’ve been missing out on, do some self-introspection, take up a new hobby, spend time with your family, or even just take a walk and enjoy nature. You’ll get a chance to connect to your loved ones and your own body healthily, and you won’t feel the need to chug pain killers and Alka-Seltzer in the morning. You might wake up feeling refreshed and at ease with yourself.
While research directly linking me time and wealth accumulation is limited, the benefits of solitude for cognitive function can indirectly support sound financial decisions in later life. Solitude can reduce distractions, leading to a greater sense of presence and focus. This can help with mindfulness practices, which are linked to improved cognitive function and emotional regulation.
3. Reading regularly
If you’re out every night having fun, your social needs are completely fulfilled. But what about your mental needs? The cheapest, easiest way to get smarter is to put a physical book in your hand and get those pages turning. Yes, that’s it. No tricks, just go read!
Science has already proven that you’re not born with a limit on your potential. You’re a creature that can change, grow, and yes, do things that make you smarter. So when you’re limiting your time out of the house, you can increase the time you’re learning.
Tons of hobbies can make you happier, and reading will increase your intelligence regardless of whether you’re reading the latest sci-fi novel you’ve been eyeing or the Wall Street Journal. It can help reduce blood pressure, stress, expand your vocabulary, help you sleep, and even improve empathy. And the money you’ve been saving from going out can help expand your library, too.
Reading exercises the brain by decoding words, forming mental images, and connecting ideas. A 2022 study explained that this process stimulates cognitive functions like concentration, memory, and comprehension, potentially slowing age-related cognitive decline.
So, while going out can be a blast, you don’t need to do it all the time. Next time your friends ask you to go clubbing, maybe decline the invitation for some personal relaxation and introspection.
You can enrich your brain, make yourself happier, healthier, and yes, a little wealthier, too.
Merethe Najjar is a professional writer, editor, and award-winning fiction author. Her articles have been featured in The Aviator Magazine, Infinite Press, Yahoo, BRIDES, and more.
