Many of us count sheep once we hit the sack, but research suggests we might also want to count loonies and toonies.

A study conducted by the University of California found a financial connection between sleep and finances, reports the Financial Poise blog.

The key finding was that “people who increased their sleep by one hour per night saw their wages increase by five per cent in the long run,” the blog reports. While links between poor sleep and obesity, diabetes, and heart disease are better known, the study found financial impacts as well.

“Bank accounts could also suffer as a result of sleep deprivation. A 2016 CareerBuilder survey showed that 17 per cent of Americans reported that their memories were affected by a lack of sleep, while 24 per cent reported that poor sleep made them less productive. That’s a bad combination while on the job,” the article notes.

So the basic finding is that a well-rested person performs better and will ultimately make more than a less productive, forgetful, less-rested person, the article explains. The PC Financial website concurs.

“A life full of work, family and social commitments can definitely make you feel exhausted at the end of the day. And if you, like many people, find you’re not at your best after one or more poor or short nights of sleep, it’s not a stretch to think that your decision-making skills might be affected, impacting everything from your diet, mood and relationships to your job performance and your spending habits,” the blog advises.

How to maximize your sleep for razor-sharp thinking and financial acumen?

The blog offers these ideas.  First, making sleeping a priority, as you would exercise – find out how much sleep a person your age should be getting, and make that a new target, the blog suggests.

Next, stick to that target. “It might be tempting after a long week to burn the midnight oil on weekends and then sleep in late, but this only serves to confuse and disrupt your body’s sleep cycles. Try to be consistent with your sleep and wake times seven days a week,” the blog advises.

Make sure your bedroom is set up for sleeping – no distractions like TVs, reading or eating, the blog states, and develop a “regular bedtime routine.” The blog also advises unplugging from phones and the Internet.

The Wisebread blog lists a number of financial benefits from increased sleep, including “fewer illnesses and medical expenses,” which saves you money due to fewer work absences and less need for drugs and other medical services.

Other financially relevant benefits include “better decision-making,” and boosted productivity, the blog concludes.

It all sort of makes sense. If you are tired at the start of the day, you’ll blunder through, probably grabbing fast food instead of cooking breakfast, having extra Timmy breaks, and making unplanned purchases and spends instead of sticking to a budget.

So perhaps after your next recommended seven hour-sleep, you’ll wake up refreshed and ready to address your retirement savings plans. A nice destination for that thinking is the Saskatchewan Pension Plan, an excellent tool that helps turn your saved dollars into a future lifetime retirement income. Sleep on it, of course, but then check them out the next day!

Written by Martin Biefer
	Martin Biefer is Senior Pension Writer at Avery & Kerr Communications in Nepean, Ontario. A veteran reporter, editor and pension communicator, he’s now a freelancer. Interests include golf, line dancing and classic rock. He and his wife live with their Shelties, Duncan and Phoebe, and cat, Toobins. You can follow him on Twitter – his handle is @AveryKerr22