MBA2662 Why Making Money is Good For Your Health

Summary

Podcast Summary: The $100 MBA Show – Episode MBA2662: "Why Making Money is Good For Your Health"

Introduction

In Episode MBA2662 of The $100 MBA Show, host Omar Zenhom delves into a profound and often overlooked topic: the correlation between financial success and personal health. Drawing from over two decades of entrepreneurial experience, Omar articulates how financial abundance not only alleviates stress but also fosters physical, emotional, and mental well-being. This comprehensive episode is structured around seven key points that illuminate why making money is not merely about acquiring material possessions but is intrinsically linked to improving one's quality of life and overall health.

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1. Money Stress Literally Damages Your Body ([01:01] – [02:35])

Omar begins by addressing the pervasive impact of financial stress on physical health. Citing a study from the American Journal of Epidemiology, he reveals that individuals experiencing high financial strain are 20% more likely to develop chronic health conditions such as heart disease and diabetes. Further reinforcing this point, Omar references reports from the American Psychological Association (APA), which consistently identify money as the number one source of stress for Americans.

Omar Zenhom ([02:10]): "Chronic stress is linked to high blood pressure, poor sleep, weakened immune function. How do you think cancer develops depression, anxiety, digestive issues?"

He emphasizes that the cumulative and often invisible nature of financial stress can silently erode one’s health until a significant breakdown occurs.

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2. Financial Pressure Destroys Relationships ([02:36] – [04:20])

Transitioning to the relational consequences of financial strain, Omar highlights how money problems are a leading cause of interpersonal conflicts. Referencing a study by Ramsey Solutions, he notes that money fights rank as the second leading cause of divorce, trailing only infidelity.

Omar Zenhom ([03:15]): "When you're financially stressed, you don't argue about money, right? You argue about everything else because of money."

He shares a personal reflection on observing his parents’ struggles with financial anxiety, emphasizing that the fear associated with money scarcity often leads to constant debates and relationship strain. Omar underscores his personal mission to break this cycle, aspiring to ensure that financial peace replaces familial tensions centered around money.

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3. Being Broke Makes Healthy Choices Harder ([04:21] – [07:19])

Omar tackles the paradox that being broke is actually more expensive. He outlines the challenges faced by those living paycheck to paycheck, where healthy choices become financially unattainable. Key points include:

• Cost of Healthy Food: Organic and prepared meals are often pricier than fast food options.
• Access to Fitness: Gym memberships and personal trainers are financial luxuries.
• Mental Health Support: Therapy and mental wellness services are frequently out of reach.
• Time for Self-Care: Financial constraints limit the ability to take breaks or holidays for mental rejuvenation.

Omar Zenhom ([06:30]): "Wealth buys you wellness and that's the truth. I don't know anybody who is healthy and poor."

He shares his personal strategy of investing in prepared healthy meals to maintain his health, illustrating how financial stability provides the options and resources necessary for a healthy lifestyle.

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4. Being Poor Makes You More Likely to Make Bad Decisions ([07:53] – [11:45])

Addressing the cognitive impacts of poverty, Omar references a Princeton University study that found poverty can reduce cognitive function by the equivalent of 13 IQ points. This cognitive strain forces individuals into a state where they are more prone to making short-term, reactionary decisions rather than strategic, long-term planning.

Omar Zenhom ([09:20]): "When you're constantly occupied with how you're going to pay the bills, it can't think long term."

He discusses how financial desperation can trap individuals in cycles of debt and poor decision-making, underscoring the importance of financial liberation to enable clearer, more effective decision-making processes.

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5. You Can't Recharge If You Can't Afford to Stop ([11:46] – [14:30])

Omar compares the demands of business to high-impact sports like American football, where strategic rest and recovery are essential for sustained performance. However, financial constraints often make taking necessary breaks unaffordable.

Omar Zenhom ([13:10]): "Making money gives you the margin to rest, to recover and come back sharper, better than ever."

He describes the vicious cycle where the inability to afford rest leads to burnout, which in turn hampers productivity and further financial instability. Financial stability, therefore, becomes a prerequisite for effective recovery and long-term success.

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6. Personal Reflections: Breaking the Cycle ([14:31] – [17:50])

In a deeply personal segment, Omar recounts his upbringing in a financially strained household as the child of Egyptian immigrants in the United States. He details the sacrifices his parents made, such as his mother having to redo her degree and taking on menial jobs to support the family.

Omar Zenhom ([16:00]): "I never had any name brand items in the house... We never had name brand bread or peanut butter. It was always the no frills brand."

Witnessing the toll that constant financial pressure took on his parents, Omar made a conscious decision to break the generational cycle of financial scarcity. His commitment to achieving financial freedom is not only for personal benefit but also as a tribute to his parents' sacrifices and to ensure a healthier, stress-free life in the future.

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7. Making Money Isn't Greedy, It's Smart ([17:51] – [19:20])

Concluding the episode, Omar challenges the societal stigmas associated with wealth accumulation. He asserts that making money is a strategic means to protect one's peace, serve family, and create broader positive impacts.

Omar Zenhom ([18:40]): "Making money is how you protect your peace. Making money is how you serve your family. Making money is how you buy back your time."

He observes that wealth tends to amplify inherent personal traits, noting that entrepreneurial individuals who are kind and generous become even more so with financial success. Conversely, those with negative traits may exacerbate them upon acquiring wealth. Thus, building financial abundance serves as a testament to one's character and intentions.

Omar emphasizes that wealth enables access to essential services—such as therapy, quality nutrition, and time with loved ones—which are crucial for maintaining overall health and well-being.

Omar Zenhom ([19:10]): "Let's stop apologizing for wanting to make money. Let's stop pretending that staying small and broke is some sort of virtue."

He advocates for a mindset shift where financial success is viewed not as a symbol of greed but as a foundational element for a healthy, balanced, and impactful life.

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Conclusion

Omar Zenhom's MBA2662 episode compellingly argues that financial well-being is intrinsically linked to overall health and quality of life. By dissecting the multifaceted negative impacts of financial stress and illustrating how financial abundance can foster physical health, mental clarity, and stronger relationships, Omar provides a persuasive case for prioritizing financial growth. His personal anecdotes and evidence-based insights underscore the importance of financial freedom as a cornerstone for a fulfilling and healthy life. For listeners seeking to understand the deeper implications of financial health and to gain motivation for their entrepreneurial journey, this episode offers invaluable perspectives and actionable wisdom.

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Notable Quotes:

• Omar Zenhom ([02:10]): "Chronic stress is linked to high blood pressure, poor sleep, weakened immune function. How do you think cancer develops depression, anxiety, digestive issues?"

• Omar Zenhom ([03:15]): "When you're financially stressed, you don't argue about money, right? You argue about everything else because of money."

• Omar Zenhom ([06:30]): "Wealth buys you wellness and that's the truth. I don't know anybody who is healthy and poor."

• Omar Zenhom ([09:20]): "When you're constantly occupied with how you're going to pay the bills, it can't think long term."

• Omar Zenhom ([13:10]): "Making money gives you the margin to rest, to recover and come back sharper, better than ever."

• Omar Zenhom ([16:00]): "I never had any name brand items in the house... We never had name brand bread or peanut butter. It was always the no frills brand."

• Omar Zenhom ([18:40]): "Making money is how you protect your peace. Making money is how you serve your family. Making money is how you buy back your time."

• Omar Zenhom ([19:10]): "Let's stop apologizing for wanting to make money. Let's stop pretending that staying small and broke is some sort of virtue."

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Final Thoughts

Episode MBA2662 serves as a compelling reminder that financial health is not merely about wealth accumulation but is a vital component of overall well-being. Omar Zenhom masterfully intertwines research, personal experience, and practical insights to advocate for a reassessment of how we perceive and prioritize money in our lives. For entrepreneurs, professionals, and anyone striving for a balanced, healthy life, this episode offers a transformative perspective on the true value of making money.

Transcript

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Think making money is only about buying the nicer things in life, think again. Because the truth is, making money is good for your health. In fact, not making enough money might be the biggest hidden health risk you are ignoring right now. We don't talk about this enough. How financial stress quietly eats away at your physical, emotional and mental health. How it damages relationships. How it affects every decision you make. This episode is extremely personal to me because I grew up in a household where money was tight and as I was growing up, I told myself for a very long time, I got to solve this money issue in my life so that my life has improved in many ways, especially my health. I've seen firsthand what a lack of financial abundance can do to a person and to a family. So today let's talk about the real cost of staying broke and why making money is one of the most generous things you can do for yourself and the people you love. Welcome Back to the $100 MBA Show. I'm your host Omar Zenholm, where I deliver practical business lessons three times a week, Monday, Wednesday and Friday to help you start, grow and scale your business. Let's start with number one, money stress literally damages your body. Let's start with some facts. A study published by the American Journal of Epidemiology found that people with high financial strain were 20% more likely to develop chronic health conditions, including heart disease and diabetes. Another report from the apa, the American Psychological association consistently shows money is the number one source of stress for Americans year after year. Chronic stress is linked to high blood pressure, poor sleep, weakened immune function. How do you think cancer develops depression, anxiety, digestive issues? That's not just an inconvenience. It's slow, cumulative damage. And it's also invisible, right? Until it breaks something in your life. Number two, financial pressure destroys relationships. And let's be honest, the money problems break people. They break relationships up. A study that was done by Ramsey Solutions found that money fights are the second leading cause of divorce after infidelity. The crazy thing about that study is that they found that couples will more likely stay together after infidelity than consistent money problems. That's a blow. When you're financially stressed, you. You don't argue about money, right? You argue about everything else because of money. You snap at your partner. You say no to your kids more than you want to. You make small decisions, feel like life or death calls. Listen, I watch my own parents that I absolutely love argue about money a lot. Not because they were bad people, they were really hardworking people, but because they were scared. They were consciously and consistently anxious. Every dollar was a debate. The margins in their relationship and in their life financially were so razor thin. And I remember thinking, when I grow up, I want money to be the last thing I fight about. Okay, I don't want to fight at all. But money should not be something we should be fighting about. This thing called money needs to be solved in her life. And again, the primary reason is not so I could be rich is because I want peace. I to want. I want peace in my life. Number three, being broke makes healthy choices harder. Woo. That is so true. It's the harsh truth. Being broke is actually expensive. It's really hard to stay healthy when you're living paycheck to paycheck. Let's break it down real quick. Here are some things you know are true. Healthy food costs more, gym memberships aren't free. And if you need guidance and training, trainers are not free. Taking time off to rest and go on holiday and mentally recharge, not an option. If you don't have money, therapy, forget about it. Who's got budget for therapy? When you're paycheck to paycheck, Getting eight hours of sleep when you're grinding two jobs, absolutely unrealistic. You're not lazy, you're exhausted, you're not eating poorly because you don't care and you don't know that this food is unhealthy. It's because junk food is cheap. It's fast. It feels fills the gap. It fills the need when you need it. Making money gives you options. It gives you the room to take care of yourself. For example, one of the first things I started to do when I started to reach a certain level of income and wealth is I started to order prepared healthy meals. Meals that athletes get sent to themselves to make sure their macros are right and they get the right protein and everything's super clean. That's all I eat at home is prepared delicious organic fresh meals. Yes, it's more expensive than me getting fast food or takeaway. It's a lot more expensive than me going to the grocery store and cooking for myself. But I get the best quality and I save time and I get everything I need to be healthy because I am basically throwing money at the problem because money is available and when money is not available, you can't make these choices. It's just the truth. Let me say that again. Wealth buys you wellness and that's the truth. I don't know anybody who is healthy and poor. Seriously. Look back at your friends, look at your family who is in top shape and is really struggling financially. If it exists, it's a blip. It's a temporary period. But most people that can afford the time, the energy, the guidance, the resources to be healthy and are wealthy. So in order for you to have a foundational level of health that where you're eating right, you're exercising, you have time to rest, you have time to go for walks, you need to have a standard of wealth. It's not about luxury, it's about meeting the standard. If we are going to prioritize our.

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Listen, I mention on this call all the time that I like to have as little meetings as possible, but they're required in order to collaborate with the team to train your team members to get things done. So what we like to do is use Fireflies when we run these meetings on Zoom. It makes it so much easier to extract what was discussed and what needs to be done next. Meaning to create our to dos for the week or the month or the quarter so everybody knows what they need to do or get done so that we accomplish our goals. How many times have you been in a meeting where you discuss some great ideas and things that you should do and then nothing happens? Well, because you didn't actually extract that information, document it. And that's what Fireflies does for you automatically. And right now, when you sign up for a yearly Firefly subscription, you get your first two months free. Just go to Fireflies AI mba. That's right, two months free when you go to Fireflies AI mba. That's Fireflies AI MBA number four. Being poor makes you more likely to make bad decisions. Who here as soon as I said that were like, woof. I know exactly what you're talking about. I could think of 2, 3, 4, 5 different bad decisions I've made in my life because I was under financial pressure. Right? It's the truth. This isn't about intelligence. It's about mental bandwidth. Listen to the study that was done by Princeton University. Being in poverty can reduce cognitive function by the equivalent of 13 IQ points. That's the same thing as pulling an all nighter and being exhausted and you can't think clearly and you got to make tough decisions. Why? Because when your brain is constantly occupied with how you're going to pay the bills, it can't think long term. You skip better opportunities because they don't pay immediately. Right? They don't pay, you know, this week or next week. You stay in a toxic work environment because you're scared of what's out there. Out of fear that you're going to miss that next paycheck that you desperately need. You take on debt Just to survive. How many of us have been there with credit card and loans? You're stuck in this like reactionary mode, not creation mode. That's not weakness. It's the trap of not having enough money. I know it because I was in it. I lived it right for a very long time until I got serious about my career as an entrepreneur. I started investing in myself. I started working harder and longer and smarter on what I'm building so that that way I can be able to make some inroads and start making some leaps in my revenue. I'm not saying this is easy, but what I found is if you don't make being wealthy a priority, then you will never be wealthy. That's just the truth. Okay? A lot of people say to me, hey, Omar, I want to be wealthy. I want to have financial freedom. I want to worry about money anymore. I want, I want to solve this problem, but this, but that, but that. Then I say to them that those things are true. Those buts you gave me a hundred percent true. But if you are choosing those buts over your priority, your goal to be financially free, then it's not a priority. Priority means you choose it before anything else. And the thing I have found, and this is why I decided to make it a priority, is because once I made it a priority and I really worked on it and started to achieve levels of financial freedom, more and more as I grew, I started to realize all those buts got solved. Isn't that interesting? Money solves a lot of problems. You know this. And the reason why I'm sharing with you bluntly, is that all those excuses you're making, I don't have time, my family, my health, I don't have the motivation. All these excuses you're having, whatever they might be, all of a sudden they go away. When you're successful, when you start making leaps and bounds of financial freedom, number five, you can't recharge if you can't afford to stop. When was the last time you took a real break? A real holiday? I'm not talking about a weekend where you checked your emails every hour or every day even. I'm talking about a total reset. A slow down trip, a breath, right? Taking a breath. Time to reconnect with yourself. Time to realize that, hey, life is to be lived. Most people can't afford that. Vacations aren't just about indulgence. It's about recovery. It's about understanding that business is a lot like a high impact physical sport, like rugby or American football, right in American football, they only play a game once a week because it's so high impact, right? They have to recharge and train and rehab so that they can make it next week. Business is much like that. You're going to go through a series of really hard sprints, right? But because you're working so intensely on whatever you're building, you need intense rest as well. But if money's tight, guilt sets in. How can you justify spending when you barely have enough, right? So what happens is we buy with money we don't have, with credit cards and things like that. And here's the irony. The harder you work, the more you need a break, right? But the less money you have, the less able you are to take it. That's a brutal cycle, a brutal one. Making money gives you the margin to rest, to recover and come back sharper, better than ever. Number six is really just me sharing what I learned watching my own parents. My parents worked incredibly hard. They were immigrants from Egypt. They moved to the US and they knew nobody. They had to build their own community. They had to learn a new language. My mom had to do her degree all over again in the U.S. because the employers in the U.S. didn't recognize her degree from Egypt. They're like, well, we don't know what this university is, so you got to do your diversity degree all over again. They had to do menial jobs until they got to that level where they can get a decent job. My mom was an elevator operator for a long time. She was doing housekeeping in hotels. This is the struggle my parents went through. And they were honest and they gave us love and they gave us everything they could. But life was hard. Bills were late. My mom stretched every dollar that she could at the grocery store. We never had any name brand items in the house. You know, like, we never had like an actual name brand cereal. All right, right. If we ever had cereal in the first place, right? We never had name brand bread or peanut butter. It was always the no frills brand, the store brand, because she was trying to make sure that we had food in the house and that we saved money here and there to make up for other areas. And I remember watching them both age before their time. Not because of bad luck, because of the weight of constant financial strain. I made a decision, like I said early on, never again. I'm breaking the cycle. Not just for me, but for them and for everybody around me. And my partner in my life and my extended family, I wanted to make sure that they knew that their sacrifice for me. And hard work was not for nothing, right? That it paid off. Because I don't want to be 60 and stressed out. I want to be 60 and free and enjoying myself and having the health to enjoy my life. And I believe you deserve that too. But you don't just get what you deserve. You have to go after it. You got to work for it and you got to earn it. Number seven, Making money isn't greedy, it's smart. You've been fed a lie and many of us have, right? That working more is selfish, that wealth is corrupt, that ambition is arrogance. But here's what I believe. Making money is how you protect your peace. Making money is how you serve your family. Making money is how you buy back your time. Making money is how you can afford to be generous. Making money is how you stay healthy mentally and physically. Making money allows you to make an impact at a greater scale. You're not chasing money, you're chasing freedom. You're chasing health. You're chasing better life. You're chasing what money can allow you to do. That's not greed, that's wisdom. Listen, I've been around a lot of entrepreneurs. I've been around many that were not wealthy when they were grinding and building their business and then became wealthy, very wealthy. Because either they built an incredible business that fund that wealthy life or they actually sold a very valuable business that they built and became instant millionaires and never had to work a day in their life. And the crazy thing I've noticed in all of them is that what money does, it amplifies who they already are. So if they were kind and generous and thoughtful people, they became more of that when they had money. And if they were selfish and greedy and manipulative, they were more of that when they had money. So if you believe that in your court, you're a good person, you're generous, you're kind, you're helpful, then you're going to be even more of that. You're going to be 10x of that. When you have some wealth, when you have the money to fund all those great qualities. Money can't buy you happiness, sure. But let me tell you what it can buy. It could buy you therapy. It could buy you groceries that don't come in a box. It could buy you time with your kids. It can give you a break when you need it. It can give you a so bed that gives you the best rest you ever had. Quiet mornings. It can give you peace of mind. That's not luxury, that's health. Right so let's stop apologizing for wanting to make money. Let's stop pretending that staying small and broke is some sort of virtue. No, you're not selfish for wanting more. You're smart. You're protecting your health and that's something worth fighting for. Thanks so much for tuning into this episode. If you made it this far, you're my kind of person. Okay? You're a doer. You are somebody who wants to invest in themselves and is a learner. And I believe that I'm in like minded company. So thank you for being here. If you found today's episode helpful and you want more practical business lessons to help you start, grow and scale your business, the best thing you could do is subscribe to this podcast. Hit subscribe or follow on your favorite podcast app, the one that you're using right now. Whether it's Apple or Spotify or ever, you listen to podcasts. By hitting subscribe, you get our next episode automatically and it's the best way to support the show. It's absolutely free and it's a way for you to commit to growing your business. And now that you've subscribed, I'll check you in the next episode.

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