By: Jenny Q, The Sleep Snob
Sleep more, earn more. Is this a contradicting statement?
“How can I earn money if I’m sleeping, let alone sleep more?!” If this sentiment sounds all too familiar, you're not alone. The age-old adage "time is money" often leads us to believe that every moment spent asleep is a moment of potential earnings lost. After all, if we're not actively working, how can we maximize our income?
In the hustle of modern life, where productivity is prized above all else, the idea of prioritizing sleep may seem contradictory to financial success. Yet, what if I told you that sleeping more—efficiently and effectively—could actually lead to increased earnings? Paradoxical, you say? Let’s take a look:
Firstly, let's address the common misconception: "If I'm sleeping, I'm wasting time and money." In a literal sense, this statement holds true. Most of us are not generating income while we're in the depths of slumber. If you have a job to do and find yourself sleeping in, by all means, get up and get to it!
But in this article, I’m speaking to those of you that are not getting enough sleep. The ones that are compromising sleep for profit, productivity, oversized workload, and looming deadlines.
You may think that sleeping less allows for more time to complete those last minute tasks and projects, and prepare for the next day, but compromising your sleep sets you up for the hidden costs of sleep deprivation.
THE NUMBERS
According to a study published in the Journal of Sleep and Sleep Disorders Research, individuals who sleep fewer than five hours per night experience a 29% decrease in productivity. Conversely, those with insomnia exhibit a productivity decline ranging from 58%-107%, depending on its severity. Essentially, the study suggests that individuals who obtain less sleep are less effective in their work, while those who maintain 7-8 hours are more productive. And we know that productivity = money. So when you’re more productive, it translates to potential higher earnings and recognition, whereas the reverse is also true, lower productivity equates to poor performance and lower salary.
Another recent study in January 2024, in the Journal of Health Economics, it was found that just a 1 hour increase in sleep per week is associated with a 1.6 percentage point rise in employment and a 3.4% increase in weekly earnings. So you’re not only likely to earn more, but you’re more likely to get hired if you’re well-slept.
QUALITATIVE IMPROVEMENT = ALSO MORE MONEY
Although your boss or company may not be paying you directly for improved sleep, better rest allows for improvement not only in productivity, but other areas that translate to more financial gain:
Sharper Focus and Efficiency: Adequate sleep is a cornerstone of optimal cognitive function. With a well-rested mind, tasks can be completed more efficiently, freeing up time for additional income-generating activities.
Improved Decision-Making: Sound sleep is correlated with better decision-making skills. Whether it's negotiating a contract or evaluating investment opportunities, a well-rested mind is better equipped to make financially savvy choices.
Better Relationships: When well-rested, we're more patient, empathetic, and better communicators, fostering positive connections with colleagues and supervisors. These improved relationships can pave the way for promotions, pay increases, and overall career advancement. For those in sales, increased energy and better relationships equals increased sales.
By prioritizing quality rest, you are not just investing in your health and well-being; you are also investing in your financial future. So for those of you constantly sacrificing sleep to squeeze in that last hour of work, I ask you to reconsider if that hour is worth the next day of fatigue, poor decision making, poor mood, decreased productivity, and irritability. Considering the big picture, when you prioritize sleep, you’ll have more to gain - financially and in all other life areas. In the realm of financial prosperity, sometimes the path to success begins with a good night's sleep.
**If you’re ready to potentially increase your earnings by way of sleeping better, Contact us to learn more about our sleep programs. Whether you’re an employee who is putting in too much overtime, or an employer looking to invest in their employee’s sleep health, we have the program for you!
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