Stretch Your Dollar: How lack of sleep impacts your wallet

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(WTNH)– We all know we need to get enough sleep to stay healthy, but you may not know that insomnia takes a toll on your wallet. We are stretching your dollar with the truth about sleep and money.

You go to work, make money and pay your bills on time to keep your finances in check. But experts say another important step to managing money is sleep!

“Not getting the right amount of sleep or the right kind of sleep can actually interfere with your ability to earn a living,” said Meir Kryger.

Meir Kryger is a Yale professor and physician at the Sleep Disorder Center in North Haven where people try to improve their sleep habits.

It’s recommended you get between 7 and 9 hours a night but there are large groups of people who don’t. People suffering from chronic sleep disorders, shift workers and of course new moms.

“New mothers, for example, with brand new babies at home are tremendously sleep deprived and some of them will knowingly drive their car, knowing they are very sleepy. That’s really bad judgment and they’ll do that with the baby in the car,” said Kryger.

It’s not just your health and safety that’s compromised without adequate sleep, Kryger says your productivity at work declines, which in turn lowers your chances of getting promoted

Then there’s you’re everyday life…

Buying a car? Studies show inadequate sleep leads to risky financial moves. You’re not as sharp, less likely to successfully bargain for a better deal on the lot.

Apply those same poor decisions at the grocery store. Forgetting coupons or the list you had written out, if you even took the time to make one, absentmindedly grabbing things you don’t need.

And sleepy people are less likely to manage their health, make quick decisions on food and skip the gym. We all know poor health has long-term financial consequences. So it’s time to get honest – where do you fall?

“There aren’t many people who do well on four hours or five hours yet we see people like that here all the time,” said Kryger.

Kryger says naps help and you’re encouraged to take them when you can but consistently falling short over a long period of time is difficult to make up for on weekends alone .

What’s worse is when sleepiness becomes your new “norm.”

“People who are chronically sleepy are not good judges of how impaired they are,” said Kryger.

So, is it time to ask for help with the kids, turn off the work e-mails or push back the morning meeting? Giving yourself an extra hour of sleep will not only make you a happier person, but also more productive in the workplace and a more responsible consumer.

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