Small Steps to Health and Wealth

1
Small Steps to Health and Wealth Session 3
June 2010
2
Welcome

• Place a dot on each action you took since Session
  2.

3
Discussion

• How do you feel about the actions you took?
• See Strategy 23, p.95
• What about actions not taken?
• Why not?
• See Strategy 24, p. 102

4
25 Strategies to Health WealthSession 1 1
5Session 2 6 - 15 Session 3 16 25
5
SSHW Team Contest for Session 3
6
Divide into Different Groups than Sessions 1 2

• 3 5

7
First Decision

• Select New Team Name
• 30 Seconds

8
Second Decision Team R R
Marshas

• New Runner Recorder
• Places answers on board
• Write team name answer on sticky note each time
  your team responds to a question

50
9
Rewards

• Each member of winning team
• Gets to select reward at the end of the session

10
Health Question

• What is the leading cause of death in adults?

11
Health Answer

• Heart disease
• Centers for Disease Control

12
Strategy 16Live The Power of 10 Workbook
p. 70
13
Live The Health Power of 10

• Table 11 p. 71
• Lose 10 of body weight
• Walk 10,000 steps/day
• Eat 100 calories less/day
• Exercise in 10-minute intervals

14
Live The Wealth Power of 10

• Table 12 p. 72
• Save 10 a week ormonth
• Add 1/day to credit card payments
• Invest some money in stock (average 10 return)

15
Save For Your Future National Campaign
Booklet, May 2003
You may not need a lot of money to accumulate
meaningful savings. Thanks to compound interest,
small regular savings can add up over time.
Because, with compound interest, its not just
your money that earns interest-- your interest
earns interest as well-- creating a snowball
effect. The longer you save, the more compound
interest works for you.
16
Worksheets - Power of 10

• Healthy Practices
• Worksheet 24 p. 73
• Wealthy Practices
• Worksheet 25 p. 74

17
Strategy 17Take Calculated Risks Conquer
Your Fears Workbook p. 75
18
Take Calculated Risks Conquer Your Fears p. 75

• Improving health/finances Taking risks
• May conjure up fear frustration
• But think back to past changes
• You Did It Can Do It Again!!

19
Take Calculated Risks Conquer Your Fears p. 75

• Change moves you out of comfort zone
• You may move just an easy step out or it may be
  more like the first step up a ladderbut you can
  always stop for a breath!

20
Take Calculated Risks Conquer Your Fears p. 75

• Success Taking calculated risks learning from
  setbacks
• False Evidences Appearing as Real (FEAR)

21
Wealth Question

• What is the average monthly Social Security
  amount paid to spouses?

22
Wealth Answer

• Social Security Adm. Fact Sheet
• 1,343 as of April 2011

23
Health Wealth Risk Taking Worksheet 26 p. 77

• What are your goals?
• Health
• Wealth

24
Health Wealth Risk Taking Worksheet 26 p. 77
(cond)

• What are 3 calculated risks that could help you
  achieve your goals?1.2.3.

25
Health Wealth Risk Taking Worksheet 26 p. 77
(cond)

• What would happen if you
• Take a risk?
• Dont take a risk?

26
Health Wealth Risk Taking Worksheet 26 p. 77
(cond)

• What are your fears about taking risks to achieve
  goals?
• How can you overcome your fears?

27
Wealth Question

• What of workers in 2011 report they are very
  confident theyll have enough money to live
  comfortably throughout retirement?

28
Wealth Answer

• 24 (2011)
• Highest level in 2004
• 42

29
Strategy 18Appreciate Teachable Moments
Wake-Up CallsWorkbook p. 78
30
Pay Now or Pay Later

• Many people dont change unless forced to
• Know risks.but live in state of denial

31
Health Teachable Moments

• Negative events
• Cancer, heart disease, diabetes
• Death of friend

32
Health Teachable Moments

• Positive events
• Improved personal health report
• Media reports of greater health benefits to a
  change you have seriously considered making

33
Wealth Teachable Moments

• Negative events
• Loss or reduction in income
• Overdue notices in mail

34
Wealth Teachable Moments

• Positive events
• Windfall of money
• Marriage/remarriage
• Birth/adoption child

35
Worksheet 27 p. 80

• Teachable Moments
• What have you experienced?
• How did you handle it?
• What do you anticipate in next 5 years?

36
Worksheet 27 p. 80

• Wake-Up Calls (cond)
• What concerns you?
• What action will you take?
• Need resources?
• What obstacles are likely?
• Consider consequences of doing nothing.

37
But Roger, everyone spends more than he earns.
Thats what America is for.
38
True Confessions

• It took me two minutes to get a
  credit card 10 years to get out of it.
• Lucy Vailakis, age 29

39
Health Question

• With thousands of food items to choose from in
  the supermarket, most Americans regularly consume
  a wide variety of foods. True or False

40
Health Answer

• False
• In a food rut
• Routinely plan meals around same 10 to 15 core
  foods

41
Strategy 19Weigh the Costs Benefits of
ChangingWorkbook p. 81
42
Weigh the Costs

• Cost-benefit analysis
• Decision-making tool
• Determine pay-off
• Weigh pros cons of changing behavior

43
Benefits of Changing

• People take action when the pros of changing
  outweigh the cons
• Decisions to change affect others

44
Decisional BalanceWorksheets 28 29 p. 83

• Health/Wealth
• Proposed Behavior Change
• Benefits
• Costs

45
Strategy 20Step Down to
ChangeWorkbook p. 84
46
Step Down Principle

• Explores ways to reduce consumption
• Saves calories
• Saves money

47
Step Down to Change

• Dont cut out something completely
• Find an alternative

Restaurant
Fast Food
Prepared Food
Mixes
From Scratch
48
Step-Down PrincipleWorksheets 30, 31, 32 p. 86
87

• Buying Clothes
• Health Practices
• Wealth Practices

49
Team Question

• Provide one example using the step down strategy

50
Strategy 21Kick It Up a NotchWorkbook p. 88
51
Kick It Up a Notch! p. 88

• Take action to gradually increase health
  behaviors
• Exercise
• Saving/Investing
• Debt Reduction

52
Kick Health Up a Notch! p. 88

• Ramp up physical activity
• Work up to 10,000 steps
• Increase fruits vegetables in diet
• Do more of anything positive!

53
Kick Wealth Up a Notch! p. 88

• Transfer credit card balances to lower rate
• Automatically increase savings at regular
  intervals

54
Kick Wealth Up a Notch! p. 88

• Add 1/12 of mortgage payment (P I) monthly
• Do more of anything positive!

55
Increase credit payments

• PowerPay
• Utah State University-Extension
• https//powerpay.org
• Shows savings by making Power Payments

56
Research Questions About Savings
57
Those Not Saving

• Could you save 20 a week??
• 62 yes

58
20 a week 40 yrs

• 59,126 at 3
• 132,700 at 5
• 555,200 at 10

59
Those saving Could you save an additional 20 a
week??

• 70 yes

60
40 a week 40 yrs

• 118,251 at 3
• 265,500 at 5
• 1,110,500 at 10

61
Strategy 22Control YourEnvironmentWorkbook
p. 92
62
Adjust Environment

• Remove cues for unwise practices
• Add prompts for wise practices

63
Control Environment

• 5 Techniques
• Avoid temptation
• Reminders warning signs
• Rearrange things
• Break the chain early
• Anticipate difficult situations

64
1st Technique

• Avoidance
• Stay away from people or things that tempt you

65
Avoidance for Health

• Keep high calorie snacks out of house
• Dont use special occasions as excuse to eat
  more than is healthy

66
Avoidance for Wealth

• Limit shopping trips
• Dont go with friend who buy, buy, buys
• Keep away from the lottery ticket area

67
2nd Technique

• Reminders warning signs
• Develop triggers for action
• To do list/Timer

68
3rd Technique

• Rearrange things
• Make best use of time
• Multi-task
• Automatic payment for bills

69
4th Technique

• Break the chain before things get out of hand

70
5th Technique

• Restrictors/Self imposed rules
• Develop individual restrictors to slow yourself
  down
• Charge no more than 200 on credit card

71
Control Environment

• Set yourself up to succeed
• Avoid temptation
• Reminders warning signs
• Rearrange things
• Break the chain early
• Anticipate difficult situations

72
Worksheet 35 p. 94

• Examine Current environment
• Healthy aspects
• Unhealthy aspects

73
Worksheet 35 (cond)

• Avoidance
• Reminders to control behavior
• Rearrange to enhance healthy behavior
• Restrictors on poor health wealth behaviors

74
Strategy 23Monitor Your Progress Reward
SuccessWorkbook p. 95
75
Monitor Your Progress Reward Success p. 95

• Rewards follow reinforce behavior change
• Reward progress at every major step

76
Monitor Your Progress Reward Success p. 95

• Written records increase self-awareness
• Success is an important motivator

77
Worksheet 36 p. 97

• Progress Indicators
• Health-Start ___ ___ ___ ___Finish
• Wealth-Start___ ___ ___ ___Finish

78
Worksheets37 38, p. 98 99

• Chart your progress
• Health Goal
• Wealth Goal

79
Wealth Question

• What is the monthly cost of Medicare Part B
  (Medical Insurance) in 2011?

80
Wealth Answer

• If file individual Tax Return for 85,000 or
  less
• 115.40

81
Strategy 24Expect Obstacles Prepare for
RelapsesWorkbook p. 102
82
Expect Obstacles Prepare for Relapses p. 102

• Obstacles relapses should be expected
• Causes of relapses
• Depression
• Loneliness
• Anxiety

83
Expect Obstacles Prepare for Relapses p. 102

• Identify obstacles make specific plan to
  overcome them
• Plan B stress reducers
• Time pressures
• Social pressures

84
Expect Obstacles Prepare for Relapses p. 102

• Control everything you can
• Regroup move on after a relapse

85
Strategy 25 Set a Date Get StartedJust Do
It!Workbook p. 105
86
Set a Date Get StartedJust Do It! p. 105

• Take the time to prepare properly
• Identify address obstacles
• Set a realistic start or quit date

87
Worksheet 40 p. 107

• Behavior Change Contract
• I commit to take the following actions to reach
  my health wealth goals.

88
Set a Date Get StartedJust Do It! p. 105

• Go public with your commitment to change
• Consider a commitment contract
• ThenJust do it!

89
Wealth Question

• What is the interest rate on Series EE savings
  bonds purchased after May 2011 October 2011?

United States
90
Wealth Answer

• Series EE 0.70

91
Wealth QuestionAssume you have 1,000 to save
92
Shop--Savings Account
Bank
Credit Union
Savings Loan
93
Which account will pay you the most?

• A. 5.8 compounded quarterly
• B. 5.75 cp monthly
• C. 5.5 cp daily

94
Compounding

• Quarterly 4
• Monthly 12
• Daily 365

95
Difference

• Annual Percentage Rate (APR)
• Annual Effective Yield (AEY)

96
Annual Effective Yield

• Reveals the impact of the number of times
  interest is compounded credited to your account

97
Annual Effective Yield

• 5.8 compounded quarterly

5.93
98
Annual Effective Yield

• 5.75 compounded monthly

5.90
99
Annual Effective Yield

• 5.5 compounded daily

5.65
100
Which Rate Pays most?

• 5.8 cp quarterly 5.93
• 5.75 cp monthly 5.90
• 5.5 cp daily 5.65

101
5.5 Cp difference

• 5.5 cp quarterly 5.61
• 5.5 cp monthly 5.64
• 5.5 cp daily 5.65

102
4,000 IRA 40 yrs

• 5.93 AEY 608,262
• 5.65 AEY 567,160

41,102 difference
103
Ask

• Annual Effective Yield (AEY)

104
SSHW More Information

• Appendix 2
• Pages 115 - 119
• Web sites

105
What Will YOU Do to Improve Your Health Wealth?
106
Session 3 Review

• 16. Live The Power of 10
• 17. Take Calculated Risks Conquer Fears
• 18. Appreciate Teachable Moments Wake-Up
  Calls
• 19. Weigh the Costs Benefits of Changing
• 20. Step Down to Change

107
Session 3 Review Cond

• 21. Kick It Up a Notch
• 22. Control Your Environment
• 23. Monitor Your Progress Reward Success
• 24. Expect Obstacles Prepare For Relapses
• 25. Set a Date Get StartedJust Do It!

108
Action Dots

• Sheets listing potential actions that you could
  take during the next few weeks are on walls
• Place a dot on each action you plan to take

109
Rewards

• Winning team
• Who had the most correct answers?
• Select your reward