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Lynn F. LittleLynn F. Little, Extension Educator

Family & Consumer Sciences

Washington County

Lynn F. LittleLynn F. Little, Extension Educator

Family & Consumer Sciences

Washington County

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How is How is Your Your

Wellness Wellness & Quality & Quality of Life?of Life?

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Health and Finance “Issues”Health and Finance “Issues”

Good health and wealth are related toGood health and wealth are related to::

Higher productivity, fewer work absencesHigher productivity, fewer work absences

Lower medical expenses to erode wealthLower medical expenses to erode wealth

Live long enough to collect Social Live long enough to collect Social Security benefitSecurity benefit

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OvereatingOvereating: : An “Issue” for An “Issue” for

ManyMany

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Overspending:Overspending: Another Another

Common “Issue”Common “Issue”

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Today Today

• Discuss relationships between health & Discuss relationships between health & wealthwealth

• Discuss common behavior change Discuss common behavior change strategies strategies

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• Set realistic goals

• Identify small, do-able “action steps”

• Identify obstacles and overcome them

• “Put your mind to it” and take action

After TodayAfter Today

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Track Your Current HabitsTrack Your Current Habits (Exercise, Eating, & Spending)(Exercise, Eating, & Spending)

• Use a pedometer:Use a pedometer: To determine current number of steps- then build up graduallyTo determine current number of steps- then build up gradually

““Use your feet more and you can eat more”Use your feet more and you can eat more”

• Track foods eaten & calories consumed:Track foods eaten & calories consumed: Use a “Calorie Counter” book for unlabeled foodsUse a “Calorie Counter” book for unlabeled foods

• Track monthly income, expenses, & cash flowTrack monthly income, expenses, & cash flow Is spending or eating related to emotions?

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Convert Calories & Spending Into Convert Calories & Spending Into LaborLabor• Health:Health: How many hours of exercise are needed How many hours of exercise are needed

to burn off extra food?to burn off extra food?

Is eating a certain food “worth the calories?”Is eating a certain food “worth the calories?”

• Finances:Finances: How many hours of work are needed How many hours of work are needed in order to buy something (use after-tax dollars)?in order to buy something (use after-tax dollars)?

Is buying something worth the time worked?Is buying something worth the time worked?

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Meet Yourself Halfway…Meet Yourself Halfway…

• Health:Health: Decrease portion sizes of favorite foods by Decrease portion sizes of favorite foods by 1/3 to 1/2 and/or increase exercise1/3 to 1/2 and/or increase exercise

Eat half as much as you do now…graduallyEat half as much as you do now…gradually

Take leftovers from restaurant meals homeTake leftovers from restaurant meals home

• Finances:Finances: Reduce discretionary spending by 1/3 to Reduce discretionary spending by 1/3 to 1/2 and/or increase income1/2 and/or increase income

Spend less than you do nowSpend less than you do now

Look for less expensive optionsLook for less expensive options

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Save the Money Spent on Save the Money Spent on Unhealthy BehaviorsUnhealthy Behaviors

• Fewer alcoholic beveragesFewer alcoholic beverages

• Fewer “empty calorie” foodsFewer “empty calorie” foods

• Smaller portion sizes; more leftoversSmaller portion sizes; more leftovers

• Give up smokingGive up smoking

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““The Latte Factor” (David Bach)The Latte Factor” (David Bach)

• It’s not just about giving up pricey coffeeIt’s not just about giving up pricey coffee• It’s about “finding” money to save by reducing It’s about “finding” money to save by reducing

everyday expenseseveryday expenses• What are your “lattes”?What are your “lattes”?

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Just Just One One ExampleExample

• $1.50 a day (junk food) saved from $1.50 a day (junk food) saved from

age 18 to 67 = $290,363age 18 to 67 = $290,363

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Downsize and SubstituteDownsize and Substitute

• Health:Health: “Just eat less” (than you do now) “Just eat less” (than you do now) Buy less foodBuy less food Eating out? Try lunch portions and appetizers Eating out? Try lunch portions and appetizers Buy low-calorie versions of foodsBuy low-calorie versions of foods Control your condimentsControl your condiments

• Finances:Finances: “Just spend less” (than you do now) “Just spend less” (than you do now) Buy fewer itemsBuy fewer items Track spending to understand habitsTrack spending to understand habits Shop smart to buy things for lessShop smart to buy things for less Buy lower-cost brands Buy lower-cost brands

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Just Say Just Say “No” “No” to Super-Sizingto Super-Sizing

• Health:Health: Steer clear of “meal deals” in Steer clear of “meal deals” in restaurants and order smaller portionsrestaurants and order smaller portions People often eat all the food they are givenPeople often eat all the food they are given

• Finances:Finances: Avoid “buy three and save” offers Avoid “buy three and save” offers when you only need one itemwhen you only need one item Scrutinize offers to trade-up to a costlier Scrutinize offers to trade-up to a costlier

item (bait and switch?) or buy more itemsitem (bait and switch?) or buy more items

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Compare Yourself With Experts’ Compare Yourself With Experts’ RecommendationsRecommendations

• Health: Health: Body Mass Index (BMI) Body Mass Index (BMI) www.nhlbisupport.com/bmi ““Five a day” (fruits and vegetables) Five a day” (fruits and vegetables)

www.mypyramid.gov Total cholesterol < 200 mg/dlTotal cholesterol < 200 mg/dl

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Compare Yourself With Experts’ Compare Yourself With Experts’ RecommendationsRecommendations

• Finances:Finances: Consumer debt-to-income ratio < 20%Consumer debt-to-income ratio < 20% Age Age XX gross income divided by 10 gross income divided by 10 (Stanley & Danko net worth formula in (Stanley & Danko net worth formula in The The

Millionaire Next DoorMillionaire Next Door)) Suggested asset allocations by ageSuggested asset allocations by age

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Learn the Standards For Health and Learn the Standards For Health and Financial AdviceFinancial Advice

• Health:Health: Compare portion sizes to objectsCompare portion sizes to objects

3 oz of meat or fish = size of deck of cards3 oz of meat or fish = size of deck of cards 1 cup of rice or pasta = size of a tennis ball 1 cup of rice or pasta = size of a tennis ball

Weekly fitness guidelines: Weekly fitness guidelines: 30 minutes of daily exercise for adults; 30 minutes of daily exercise for adults; 60 minutes daily for youth60 minutes daily for youth

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Learn the Standards For Health and Learn the Standards For Health and Financial AdviceFinancial Advice

• Finances:Finances: Follow guidelines for savingFollow guidelines for saving

Emergency fund of 3 to 6 months expensesEmergency fund of 3 to 6 months expenses Retirement income of at least 70% to 80% of pre-retirement Retirement income of at least 70% to 80% of pre-retirement

amount amount

www.choosetosave.org

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Put Good Habits On “Automatic Pilot”Put Good Habits On “Automatic Pilot”• Health:Health: Routine health screenings, nutritional Routine health screenings, nutritional

shakes and “points” programs for weight loss, short shakes and “points” programs for weight loss, short programmed workouts (e.g., Curves)programmed workouts (e.g., Curves)

• Finances:Finances: Dollar-cost averaging investment deposits, employer retirement savings plan, Save More Tomorrow concept, direct deposit

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Control Intake and OutgoControl Intake and Outgo

• Health:Health: “Budget” your daily calories “Budget” your daily calories Reduce the amount of food consumedReduce the amount of food consumed Increase exercise to burn off more Increase exercise to burn off more

caloriescalories Do bothDo both

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Control Intake and OutgoControl Intake and Outgo

• Health:Health: “Budget” your daily calories “Budget” your daily calories Reduce the amount of food consumedReduce the amount of food consumed Increase exercise to burn off more caloriesIncrease exercise to burn off more calories Do bothDo both

• Finances:Finances: Develop a written spending plan Develop a written spending plan Reduce household expensesReduce household expenses Increase income or benefits in lieu of incomeIncrease income or benefits in lieu of income Do bothDo both

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Small Remedies Make a DifferenceSmall Remedies Make a Difference

• Health:Health: Use less butter or Use less butter or

salad dressingsalad dressing

Drink less sodaDrink less soda

Cut portion sizes Cut portion sizes

Share an entréeShare an entrée

Get two meals from Get two meals from one one

Make time to exerciseMake time to exercise

Finances:Finances:

• Save $1/day + pocket changeSave $1/day + pocket change

• Add $1/day to the minimum Add $1/day to the minimum payment due on a credit cardpayment due on a credit card

• Save an extra 1% of pay in a 401(k) Save an extra 1% of pay in a 401(k)

• Buy EE bonds monthly for $25Buy EE bonds monthly for $25

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Think Balance-Not Sacrifice

• Need to balance intake and outgo

• Weight: Burn more calories than consumed

• Savings: Earn more money than spent

• More people today are “out of balance”

• 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”

• Lose 10% of body weight

• Walk 10,000 steps/day

• Eat 100 calories less per day

• Exercise in 10-minute intervals

• Save $10 a week or month

• Add $1/day to credit card payments

•Invest some money in stock (average 10% return)

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Kick It Up a Notch!

• Ramp up physical activity

• Work up to 10,000 steps

• Increase fruits & vegetables in diet

• Transfer credit card balances to lower rate

• Automatically increase savings at regular intervals

• Add 1/12 of mortgage payment (P & I) monthly

• Do more of anything positive!

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Make Progress EverydayMake Progress Everyday

AnyAny small step to improve your small step to improve your health or increase your wealth is health or increase your wealth is better than doing nothing!better than doing nothing!

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Small Steps to Health & WealthSmall Steps to Health & Wealth

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What Will YOU Do to Get Healthy and Wealthy?

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For More InformationFor More Information

• www.smallstep.gov

• www.YourDiseaseRisk.Harvard.edu

• www.Medlineplus.gov

• www.eatright.org

• www.healthypeople.gov

• 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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