Income level has major bearing on health, study finds

Money has a huge bearing on how healthy people are, new research suggests.

According to a new study by the Catholic Church and the University of Canberra entitled "Health Lies in Wealth", poor Australians on average die three years younger than their wealthy compatriots.

In addition, the report found that 65 per cent of public housing tenants have long-term health problems against only 15 per cent of homeowners.

Commenting on the research, Karina Barrymore of the Herald Sun claimed that as well as bringing good health, money can bring happiness.

"If happiness means good health, a nice place to live, an education and a long life, then money will do the trick," she said.

"Wealth equals health. And without good health you've got nothing – rich or poor."

Aussies aiming to get the most from their money could choose to compare term deposits in search of the best options and returns. In a column for the Australian earlier this week, Don Stammer, chairman of Praemium, the investment committee of INGIM's Multi Strategy Group, wrote that the country's banks appear set to continue competing for customers through strong term deposit interest rate offers.

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