Whether it's due to watching TV too late, playing on your phone or tablet, or like myself, being a new parent (for the third time around), you're probably like millions of americans that aren't getting enough sleep. Jim Gold of MoneyTalksnews.com notes, "A significant portion of sleep insufficiency is caused not by medical conditions like insomnia or sleep apnea, but by poor choice — everything from binge Netflix viewing to late-night knitting.”(1) If this sounds like you, there's a good chance that it is costing you money. |
However, one of the reasons why may not be what you would think. According to a study by Duke University, sleep-deprived people make risky decisions.
"The scientists showed, using a functional MRI, that a night of sleep deprivation leads to increased brain activity in brain regions that assess positive outcomes, while at the same time, this deprivation leads to decreased activation in the brain areas that process negative outcomes. Sleep-deprived individuals in the study tended to make choices that emphasized monetary gain, and were less likely to make choices that reduced loss. While this wasn't true for all of the subjects, the findings are worth heeding."(2)
So in other words, when we don't get enough sleep, we're too optimistic about our choices, and ultimately take greater risks that we may not take when we are fully rested.
It doesn't stop there though. Jim Gold's insight also outlines the costs of sleep deprivation, "Researchers put the losses from insomnia alone at $63.2 billion annually. About $21 billion was the result of absence from work; the rest from lost productivity on the job.
"The scientists showed, using a functional MRI, that a night of sleep deprivation leads to increased brain activity in brain regions that assess positive outcomes, while at the same time, this deprivation leads to decreased activation in the brain areas that process negative outcomes. Sleep-deprived individuals in the study tended to make choices that emphasized monetary gain, and were less likely to make choices that reduced loss. While this wasn't true for all of the subjects, the findings are worth heeding."(2)
So in other words, when we don't get enough sleep, we're too optimistic about our choices, and ultimately take greater risks that we may not take when we are fully rested.
It doesn't stop there though. Jim Gold's insight also outlines the costs of sleep deprivation, "Researchers put the losses from insomnia alone at $63.2 billion annually. About $21 billion was the result of absence from work; the rest from lost productivity on the job.
Among other consequences you may face from sleep deprivation: Drowsy driving: The National Highway Traffic Safety Administration estimates that 100,000 police-reported crashes are the direct result of driver fatigue annually, leading to an estimated 1,550 deaths, 71,000 injuries, and $12.5 billion in losses. An AAA survey showed 41 percent of drivers admit to having “fallen asleep or nodded off” while driving at some point in their lives. |
Increased medical expenses: Insufficient sleep has been linked to the development and management of chronic diseases and conditions, including diabetes, cardiovascular disease, obesity and depression, says the Centers for Disease Control and Prevention.
Caffeine tax: A latte a day, at $3.50 each, will run you $1,277.50 a year."(3)
How much money are your habits costing you? Feel free to share and comment below, and lets all make sure that we get a full nights sleep.
(1, 3) “How Sleep (or Lack of It) Can Affect Your Bottom Line,” www.moneytalksnews.com, February 5, 2015
(2) "Sleep-Deprived People Make Risky Decisions Based on Too Much Optimism," Duke Medicine News and Communications, March 8, 2011
Caffeine tax: A latte a day, at $3.50 each, will run you $1,277.50 a year."(3)
How much money are your habits costing you? Feel free to share and comment below, and lets all make sure that we get a full nights sleep.
(1, 3) “How Sleep (or Lack of It) Can Affect Your Bottom Line,” www.moneytalksnews.com, February 5, 2015
(2) "Sleep-Deprived People Make Risky Decisions Based on Too Much Optimism," Duke Medicine News and Communications, March 8, 2011