Money and Health—Closer Than You Think.

What is a primary source of stress to most people? Money. Or more precisely, worrying about it. Health education curricula typically include topics such as being a wise consumer and identifying health fraud. But teaching students how to manage money also promotes their mental, emotional, and physical health. Start by helping students to see the connection between money and health. Here are four ways in which money relates to health:

1. Money is necessary to provide basic needs, such as food, shelter, and clothing. A person who does not have enough money to meet basic needs will experience stress, both mentally and physically. The stress induced by worrying about meeting these needs can lead to physical health problems that are typically caused or aggravated by stress. In addition, physical health may suffer directly. For example, the person may not be able to buy enough food to get adequate nutrition. Optimal health requires that a person be able to afford a healthful lifestyle.

2. Money is a common area of conflict in relationships. Families fight over money more than over any other issue. Money problems are high on the list of causes for marital problems. Strained relationships can be major stressors. Even people who have a lot of money may argue because they have different attitudes toward money, for example, about saving and spending. In 2000, a Gallup Poll of 1,205 American women–randomly selected–revealed that money was the first or second most pressing concern across all ages from 18 to 70.

3. Money is strongly correlated with self-esteem (how one views oneself) and self-worth (how worthy one thinks he or she is). People who are satisfied with their financial situation report feelings of higher self-worth than do people who have concerns about their finances.

Why is the knowledge about money and health relevant to students at this time in their lives? Because teens earn billions of dollars (over $100 billion in 1996), and they spend it–including money they are given–to the tune of $140 billion annually, or about $4,600 per teen. Few save, much less invest. Yet saving and investing are keys to financial security. Students who learn how to manage their money now will be more likely to continue those management skills as adults.

One reason teenagers may spend most of what they are given or earn is that most do not need to work. Most are not impoverished youths who are helping to pay the household bills. These teens use the money on personal expenses, such as clothing, CDs, and a car.

In addition, many teenagers, like many adults, may believe that they can acquire serious money only through luck, talent, or an inheritance.

Emphasize to students that most people who are financially secure worked toward that goal. Most millionaires in this country were not born rich. They save and invest, and live within their means. And most have at least a four-year college degree.

Saving money for college is low on the list for most working teens; in one survey, only 11 percent reported that they were saving most of their earnings toward that goal. Yet people with a college education generally make double the incomes of those with only a high school diploma. A professional degree will double the income of a college graduate.

At the same time that working teens are not saving for college, they're also spending less time on homework than on their jobs. The Department of Labor reported that, from 1996 through 1998, 2.9 million youths aged 15 to 17 worked during the school months, and 4.0 million youths worked during the summer months. That's a lot of students who may be jeopardizing their ACT or SAT scores, or not excelling in the secondary school classes they need to be admitted to particular colleges.

All of this is not to say that students—or anyone else—should necessarily pursue great wealth. It does mean that students should receive financial management education so that they can determine and reach their financial goals. Most teens do respond positively to this instruction. Teenagers who begin now to learn and practice the important life skill of managing money will be more likely to continue that practice when they are adults. This in turn will help them to live more healthful lives.