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FINANCIAL HEALTH. AN EAP OCCUPATIONAL STRESS PROGRAM. OBJECTIVES. Establish a Budget Set Financial Goals Take Action to Build a Financial Safety Net Learn to Manage Debt and Live Within Our Means. BUDGETING. Controlling financial affairs requires a budget

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financial health

FINANCIAL HEALTH

AN EAP OCCUPATIONAL STRESS PROGRAM

objectives
OBJECTIVES
  • Establish a Budget
  • Set Financial Goals
  • Take Action to Build a Financial Safety Net
  • Learn to Manage Debt and Live Within Our Means
budgeting
BUDGETING
  • Controlling financial affairs requires a budget
  • Think of a budget as a means to achieve financial success
  • A budget is the first and most important step toward financial freedom
  • A budget is a means to track ALL expenditures
budgeting1
BUDGETING
  • How do you spend your money?
  • Is your spending a necessity or indulgence?
  • Can you afford to continue the current spending pattern?
  • Reference Handout – Budget Worksheet
budgeting2
BUDGETING
  • Review the budget worksheet
  • Identify essential items (necessities)
  • List non-essential expenditures (habits – indulgences)
  • Reference Handout – Non – Essential Expenditures
set financial goals
SET FINANCIAL GOALS
  • Identify and list (record) financial goals
  • Categorize each financial goal as short term (less than 1 year), medium-term (1 – 3 years), or long term (5 years or longer)
  • Educate yourself about money management. Make educated decisions that will increase your net worth. Take small, measurable steps to achieve financial goals.
set financial goals1
SET FINANCIAL GOALS
  • Evaluate your progress
  • Review your progress daily, monthly, quarterly or at other designated intervals
  • Re-evaluate your approach and if necessary adjust your strategies
build a financial safety net
BUILD A FINANCIAL SAFETY NET
  • Enroll in long-term disability insurance through your employer via payroll deduction
  • Purchase life insurance
  • Build an emergency fund to cover living expenses for six months
manage debt and live within your means
MANAGE DEBT AND LIVE WITHIN YOUR MEANS
  • Develop a positive attitude about budgeting
  • Set simple, realistic financial goals
  • Rethink the meaning money has in your life and the way money is used
  • If necessary seek professional guidance regarding personal financial management
manage debt and live within your means1
MANAGE DEBT AND LIVE WITHIN YOUR MEANS
  • Pay yourself first
  • Use automatic transfers
  • Use payroll deduction
  • Every cent counts…
questions discussion
QUESTIONS - DISCUSSION
  • Wrap-Up
  • Evaluations
related links
RELATED LINKS

MU Office of Financial Success

http://pfp.missouri.edu/financial/index.html

Personal Finance

http://missourifamilies.org/features/financearticles/budget.htm

related links1
RELATED LINKS

Financial Tip of the Week

http://pfp.missouri.edu/financial/tipoftheweek/freebudgettools.pdf

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