Why Is Getting Enough Sleep Good For Your Finances?

3 min read By eCompareMo on July 22, 2015

Getting enough sleep is important for everyone. With eight hours of sleep, you can completely rejuvenate your mind and body from the beating it took the previous day and prepare it for the next one. However, lack of sleep can do you nothing but harm. In most cases, only the physical and mental repercussions are recorded by researchers. Unfortunately, the number of hours you sleep is directly related to your money. How does getting enough sleep greatly affect your finances? Whether directly or indirectly, losing sleep means losing money too!

You become less productive at work

Poor sleep is bad for your health, but little do people know that skimping on shut-eye can also endanger not just their bodies but also their job. When your body doesn’t get enough rest and goes to your regular job the next day, your mental attentiveness staggers, making it hard for you to keep your focus on your tasks. Before you know it, your performance has slumped and you’re up for review because of your poor performance.

You make poor financial decision

If you feel exhausted because you didn’t get enough sleep last night, it is hard to think straight and you just opt for the easiest available solution without thinking it thoroughly. While there are problems that do not have serious consequences, decisions that involve you and your financial well-being should always be considered carefully—and when you are sleep deprived, you may mess up your finances because you do not have the right mental frame to think it through. These poor financial decisions range from impulsive shopping to making the wrong choice when it comes to getting banking or financial products.

You become more prone to sickness

One of the greatest threats posed by lack of sleep is the sudden drop in your immune system, which will eventually lead you being prone to more diseases. When you have a poor immune system, you may contract diseases that will make your trips to the hospital more frequent, which will mean hospital bills racking up. Furthermore, you can also get some illnesses that may require long treatments like stroke, pulmonary diseases, and others that may need maintenance and extensive curing. And even when you have health insurance, it will still take some serious cash to make you in the pink of health.

You pay to stay awake

What happens when you didn’t get enough sleep from last night and you have to be up and running in the morning? You either down a can of energy drink or consume your first cup of joe in the morning. While coffee is good to help you get your engine running in the morning, you may start abusing it just to keep you awake. Unfortunately, coffee costs money and it can cost you big in the long run if you keep on the habit of losing sleep every night.

You let others do your job for the sake of convenience
Getting enough sleep will give you the stamina to do the things you need for a day. Whether it is washing your own vehicle or cooking your own food, you can have the energy to do those things since you are well rested. However, not enough sleep means not enough energy to do this, and you would rather just pay for services you could’ve done yourself than go through the process and wear yourself out more.

You may think that not getting enough sleep will only cost you physical damage to your body. However, lack of sleep can also be detrimental to your finances, and it can snowball if you don’t start catching up with your sleep and enjoy eight hours’ worth of slumber.