Transcript No Slide Title

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Lynn F. Little,
Extension Educator
Family & Consumer Sciences
Washington County
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How is
Your
Wellness
& Quality
of Life?
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Health and Finance “Issues”
Good health and wealth are related to:
 Higher
 Lower
productivity, fewer work absences
medical expenses to erode wealth
 Live
long enough to collect Social
Security benefit
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Overeating:
An “Issue” for
Many
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Overspending:
Another
Common “Issue”
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Today
•
Discuss relationships between health &
wealth
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Discuss common behavior change
strategies
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After Today
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Set realistic goals
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Identify small, do-able “action steps”
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Identify obstacles and overcome them
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“Put your mind to it” and take action
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Track Your Current Habits
(Exercise, Eating, & Spending)
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Use a pedometer:
 To determine current number of steps- then build up gradually

•
Track foods eaten & calories consumed:

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“Use your feet more and you can eat more”
Use a “Calorie Counter” book for unlabeled foods
Track monthly income, expenses, & cash flow

Is spending or eating related to emotions?
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Convert Calories & Spending Into
Labor
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Health: How many hours of exercise are needed
to burn off extra food?

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Is eating a certain food “worth the calories?”
Finances: How many hours of work are needed
in order to buy something (use after-tax dollars)?

Is buying something worth the time worked?
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Meet Yourself Halfway…
•
•
Health: Decrease portion sizes of favorite foods by
1/3 to 1/2 and/or increase exercise

Eat half as much as you do now…gradually

Take leftovers from restaurant meals home
Finances: Reduce discretionary spending by 1/3 to
1/2 and/or increase income

Spend less than you do now

Look for less expensive options
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Save the Money Spent on
Unhealthy Behaviors
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Fewer alcoholic beverages
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Fewer “empty calorie” foods
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Smaller portion sizes; more leftovers
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Give up smoking
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“The Latte Factor” (David Bach)
It’s not just about giving up pricey coffee
• It’s about “finding” money to save by reducing
everyday expenses
• What are your “lattes”?
 _______________
 _______________
 _______________
 _______________
•
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Just One Example
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$1.50 a day (junk food) saved from
age 18 to 67 = $290,363
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Downsize and Substitute
Health: “Just eat less” (than you do now)
 Buy less food
 Eating out? Try lunch portions and appetizers
 Buy low-calorie versions of foods
 Control your condiments
• Finances: “Just spend less” (than you do now)
 Buy fewer items
 Track spending to understand habits
 Shop smart to buy things for less
 Buy lower-cost brands
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Just Say “No” to Super-Sizing
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Health: Steer clear of “meal deals” in
restaurants and order smaller portions
 People often eat all the food they are given
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Finances: Avoid “buy three and save” offers
when you only need one item
 Scrutinize offers to trade-up to a costlier
item (bait and switch?) or buy more items
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Compare Yourself With Experts’
Recommendations
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Health:
 Body Mass Index (BMI) www.nhlbisupport.com/bmi
 “Five a day” (fruits and vegetables)
www.mypyramid.gov
 Total cholesterol < 200 mg/dl
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Compare Yourself With Experts’
Recommendations
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Finances:
 Consumer debt-to-income ratio < 20%
 Age X gross income divided by 10
 (Stanley & Danko net worth formula in The
Millionaire Next Door)
 Suggested asset allocations by age
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Learn the Standards For Health and
Financial Advice
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Health:

Compare portion sizes to objects


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3 oz of meat or fish = size of deck of cards
1 cup of rice or pasta = size of a tennis ball
Weekly fitness guidelines:
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30 minutes of daily exercise for adults;
60 minutes daily for youth
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Learn the Standards For Health and
Financial Advice
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Finances:

Follow guidelines for saving

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Emergency fund of 3 to 6 months expenses
Retirement income of at least 70% to 80% of pre-retirement
amount
 www.choosetosave.org
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Put Good Habits On “Automatic Pilot”
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Health: Routine health screenings, nutritional
shakes and “points” programs for weight loss, short
programmed workouts (e.g., Curves)
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Finances: Dollar-cost averaging investment
deposits, employer retirement savings plan, Save
More Tomorrow concept, direct deposit
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Control Intake and Outgo
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Health: “Budget” your daily calories
 Reduce the amount of food consumed
 Increase exercise to burn off more
calories
 Do both
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Control Intake and Outgo
•
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Health: “Budget” your daily calories
 Reduce the amount of food consumed
 Increase exercise to burn off more calories
 Do both
Finances: Develop a written spending plan
 Reduce household expenses
 Increase income or benefits in lieu of income
 Do both
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Small Remedies Make a Difference
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Health:
Finances:

Use less butter or
salad dressing

Drink less soda

Cut portion sizes

Share an entrée
• Save an extra 1% of pay in a 401(k)

Get two meals from
one
• Buy EE bonds monthly for $25

Make time to exercise
• Save $1/day + pocket change
• Add $1/day to the minimum
payment due on a credit card
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Think Balance-Not Sacrifice
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Need to balance intake and outgo
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Weight: Burn more calories than consumed
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Savings: Earn more money than spent
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More people today are “out of balance”
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Changing just one habit can have big impact
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Commit to
Making a Change
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Live “The Power of 10”
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Lose 10% of
body weight
Walk 10,000
steps/day
Eat 100 calories
less per day
Exercise in 10minute intervals
Save $10 a week or
month
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• Add $1/day to credit
card payments
•Invest some money
in stock (average 10%
return)
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Kick It Up a Notch!
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Ramp up physical
activity
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Transfer credit card
balances to lower rate
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Work up to 10,000
steps
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Increase fruits &
vegetables in diet
Automatically increase
savings at regular
intervals
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Add 1/12 of mortgage
payment (P & I) monthly
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Do more of anything
positive!
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Make Progress Everyday
Any small step to improve your
health or increase your wealth is
better than doing nothing!
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Small Steps to Health & Wealth
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What Will YOU Do to Get
Healthy and Wealthy?
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For More Information
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www.smallstep.gov
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www.YourDiseaseRisk.
Harvard.edu
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www.Medlineplus.gov
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www.eatright.org
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www.healthypeople.gov
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www.rce.rutgers.edu/money2000
www.investing.rutgers.edu
www.nefe.org/latesavers/
index.html
www.asec.org
www.pueblo.gsa.gov
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