Dr. Oz: How to Manage Finances, Lose Weight & Reduce Blood Pressure

Dr. Oz: Financial Stress Causing Bad Habits

Dr. Oz has been talking to Kim, whose financial stress has caused her a number of bad habits. Dr. Oz introduced her to Ric Edelman, author of The Truth About Retirement Plans and IRAs, to help her lose weight and manage her financial issues. Ric Edelman said a lot of people think the big expenses are the issue, like houses and cars. The important thing, though, is really the little purchases throughout the day.

Dr. Oz: Saving Money from Soda, Cigarettes, and Eating Out

For example, Kim drinks soda, smokes cigarettes, and eats out. Over the course of a year, this costs her $910, $4,004, and $4,160, respectively. If she were to save this money, over a five-year period she’d have $55,621 and if she did it over 20 years, she’d have $445,888. Kim said that would be a nice retirement fund.

Dr. Oz: Meatless 2 Nights a Week

As far as health goes, Ric Edelman said she should cut out meat two days a week and replace it with fish, beans, or veggies. This will be much less expensive. If she cooks at home, she’ll also know exactly what’s going into her food, which will help build her health. More money in her bank account can also help lower her blood pressure, so she doesn’t have as much stress.

Dr. Oz: Cutting Medication Costs

With the blood pressure Kim has, she needs prescription medication. However, if she loses the weight, she won’t have to do the medication over time. In the meantime, though, to cut prescription costs, ask the doctor for larger amounts of medication. If you’re supposed to take 5 milligrams twice a day, ask for a prescription for a 10 milligram pill instead. Then, you can just cut it in half to get the 5 milligrams. The 10 milligrams and 5 milligram versions should basically cost the same. It’s a good alternative to paying for two bottles.

Dr. Oz: Run Your Finances Like a Business

Ric Edleman also suggested Kim treat her finances like a business. Sit down at a table and really have a serious conversation with yourself. Step number one was for Kim to open one of her unopened bills that she’d been ignoring for a while. Ric promised he would sit down with her and go over all of her finances to get her where she needed to be, but for right now, she needed to open that first envelope.

Kim opened one and looked very stressed. She said she felt overwhelmed and didn’t know what to do with the numbers in front of her. But it was important for her to take this first step. Dr. Oz told her she was worth more than the money in her bank account and she needed to realize that.