The average adult in the UK will spend over £65,000 in their lifetime looking after their health
Have you ever considered how much money you spend on your health? With the wellness industry booming, it’s perhaps unsurprising that more and more of us are feeling comfortable investing in our health.
Research conducted by 4Homeopathy looked at how much we spend on health each year, with their poll of 2,000 adults revealing an average yearly expenditure of £1,091. This money is reportedly being spent on gym memberships, vitamins and supplements, prescriptions, exercise classes and healthy foods.
Of those polled, one in six currently use alternative and complementary therapies to support their wellbeing and spend an average of £31.98 on treatments each year. Results also showed that a third of adults would consider using alternative therapies in the future.
Complementary and alternative approaches can include therapies like Reiki, homeopathy, reflexology and hypnotherapy. These can have a variety of benefits and are considered especially useful in reducing stress and anxiety.
A spokesperson from 4Homeopathy explains why spending money on our health is worth the investment: “Looking after your health is one of the most important things you can do.
“There are so many ways you can dedicate funds to improve your health and wellbeing, and we are encouraged by the results of the study which indicate many Brits would be open to alternative therapies in the future.
“We know that many people – with Prince Harry and Meghan Markle being the latest high-profile examples - are already enjoying or exploring the positive health benefits of complementary and alternative medicines.”
Access to cheaper/free information and support is imperative if we want to close the privilege gap within the wellness industry
On the flip side of this, it’s important for us to recognise that having enough money to spend on health and wellness is a privilege.
Within the research it was revealed that one in 10 have put off visiting their doctor in case it resulted in a costly diagnosis and 12% are already suffering with a medical condition that causes them significant expense to treat.
Only 14% of those surveyed have a savings account reserved specifically in case of an emergency. Perhaps when we consider our finances, having a health budget or savings pot could help us feel more supported.
Access to cheaper/free information and support is also imperative if we want to close the privilege gap within the wellness industry. Many free online communities offer support and advice, while low-cost apps can encourage us to take self-care seriously and be proactive in the management of our health.
Exploring your options when it comes to healthcare is key. Understand what is available to you and learn more about which approaches best suit your needs. The spokesperson from 4Homeopathy encourages us to think outside the box,
“This Homeopathy Awareness Week (10 - 16 April) we would encourage Brits to explore other alternative avenues of healthcare especially if traditional routes are causing anxiety or are proving ineffective.”
The more aware we are of our health and wellbeing spending habits, the more able we are to take control to ensure we’re getting the most out of it
As well as considering alternative approaches, think about creating a budget for self-care, health and wellness each month and see where you’re getting the most bang for your buck. Are you paying out for a gym membership you never use but feel yourself struggling with stress daily? Consider redirecting that cost to talking therapy and find a cheaper way to exercise, like running (which as it happens will also help to ease stress).
The more aware we are of our health and wellbeing spending habits, the more able we are to take control to ensure we’re getting the most out of it. If you’re in a position to invest in professional support, consider the following options:
- Hiring a life coach
- Trying talk therapy
- Giving hypnotherapy a go
- Speaking to a nutritionist
- Exploring complementary therapies
Investing in our health and wellness is an act of self-compassion. For some, this could mean buying a bag of bath salts to indulge in weekly, or for others, long-term counselling may be the best option. What’s important is to find what works for you, what is needed and what you are able to prioritise financially.