Personal Finances & Fitness

When it comes to budgeting for health and fitness within the average U.S. income, it’s important to balance wellness priorities with long-term financial security. Experts like Dave Ramsey, Ramit Sethi, and Suze Orman each provide distinct approaches to how health and fitness can fit into a personal budget. Let’s explore their advice and how it can apply to you.

Dave Ramsey: Prioritize Financial Security First

Dave Ramsey is known for his debt-free approach to financial independence, advocating for strict budgeting and eliminating debt as the first step toward financial peace. In Ramsey’s plan, health and fitness spending should come after basic financial essentials are covered. These essentials include paying off debt, building an emergency fund, and contributing to retirement accounts. Ramsey advises that any discretionary spending, including on health and fitness, should not interfere with your ability to meet these core financial goals.

He suggests incorporating gym memberships or other fitness expenses only if they fit into your overall monthly budget without leading to debt. Ramsey doesn’t emphasize a specific percentage for health and fitness but encourages spending only on what you can afford without neglecting savings or debt repayment. This means prioritizing more affordable fitness options, like home workouts or local gyms, until your financial footing is secure【6†source】.

Ramit Sethi: Invest in What Brings You Joy

Ramit Sethi takes a more flexible and personalized approach to budgeting. In his book *"I Will Teach You to Be Rich,"* Sethi advocates for a conscious spending plan that allows you to spend freely on things that bring you joy—such as health and fitness—while ruthlessly cutting costs on areas that don’t matter to you. He believes that if health and fitness are priorities in your life, you should allocate a part of your budget to those expenses guilt-free.

Sethi’s "Rich Life" concept encourages spending intentionally on items like gym memberships, personal trainers, or high-quality supplements, as long as they enhance your overall well-being and happiness. There is no set percentage that Sethi recommends; instead, he promotes a budget framework where 50-60% of income is allocated to fixed costs (like rent and utilities), 10-20% to savings and investments, and 20-30% to guilt-free spending. Health and fitness expenses would fall under the latter category, allowing you to prioritize them if they align with your personal values【22†source】.

Suze Orman: Cover Essentials, Then Focus on Wellness

Suze Orman emphasizes the importance of protecting your financial future, which includes prioritizing essential expenses like health insurance and emergency savings. Orman views health as an essential part of a well-rounded financial plan, encouraging spending on necessary health and fitness-related items, but only after ensuring financial stability. Like Ramsey, Orman advises against overspending on discretionary items like expensive gym memberships or luxury wellness services unless your financial house is in order.

Orman suggests keeping your core expenses, such as savings, retirement, and debt repayment, as a top priority, but she also acknowledges that investing in health can be viewed as an investment in your future. Her advice fits well with a balanced approach: focus on affordable wellness options, such as regular exercise and preventive health care, without sacrificing your broader financial goals【22†source】【6†source】.

Conclusion: Finding Balance in Health and Finance

Incorporating health and fitness into your budget is essential, but it requires balance. Dave Ramsey advises caution and sticking to affordable options, Ramit Sethi encourages spending on fitness if it brings you joy, and Suze Orman advocates for health care spending as a priority but only after securing long-term financial stability. For the average U.S. income earner, adopting a hybrid approach from these experts—prioritizing basic financial goals while investing in wellness in a way that fits your lifestyle—can help ensure both financial and physical well-being.

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