Small Steps to Health and Wealth™ (SSHW): What You Think About, You Bring About!Dr. Barbara O’Neill, CFP®Rutgers Cooperati...
Health and Finances Top     New Year’s Resolutions• December 2011 Allianz Life Insurance Company survey (N =1,000)• Rankin...
“The Greatest Wealth is Health”                    Virgil (BC)                                  3
Signature ProgramCooperative Extensionsmajor health finance initiative isSmall Steps to Health and Wealth™ (SSHW)This prog...
Why SSHW?     Americans Have “Issues”• Overweight/obesity• Physical inactivity• “Diabesity”• Low savings rates• High house...
Personal Introduction• Extension Specialist in Financial Resource  Management at Rutgers University (NJ)• Cooperative Exte...
“Street Cred”: I Lived SSHW        and “Walked the Talk”•   BMI of 27 (overweight) to normal weight•   Lost > 30 lbs. and ...
SSHW History• Created by Barb O’Neill/Karen Ensle in 2004• Stresses small daily action steps• Includes research-based reco...
SSHW Web Site                           http://njaes.rutgers.edu/sshw/•Monthly Messages•Monthly Finance Message: Keep Good...
March 2004 HHS Press Release“Consumers don’t need to go to extremes-- such as joininga gym or taking part in the latest di...
May 2003 National “Save ForYour Future” Campaign Booklet“You may not need a lot of money to accumulatemeaningful savings. ...
This Presentation is About You!• To improve your health/increase your wealth• To identify personal health and wealth goals...
What Does Your Wellness   Wheel Look Like?                          13
What are Your Health and        Financial Goals?Health Goals     Financial Goals•?               •?•?               •?•?  ...
Similarities BetweenHealth and Personal Finances• Problems develop gradually• Less stigma due to increasing frequency• Imp...
More Health-Wealth            Similarities• Lack of limits causes problems• Restrictions help avoid problems• Drastic solu...
Longevity Connections • Unhealthy lifestyle habits increase risk of   disease and early death       – “0” return on FICA t...
What are Other Ways That Health  and Wealth are Connected?  • ?  • ?  • ?  • ?  • ?                       18
5. SSHW Web Site Posters19
SSHW™ Framework: 25 Health & Wealth                Behavior Change Strategies•   Track Your Current Behavior              ...
“The Jersey Diner Approach”        • Adopt strategies that work for you        • Choose 3 to 4 (max) strategies21
SSHW in Action: The Online         SSHW Challenge22
Break Time!              23
Track Your Current Behavior          (Exercise, Eating, Spending, Saving)• Use a pedometer:  – Determine current number of...
Put Your Mind to It• Successful performers “see” achievements before  they happen• Visualize your health and wealth goal• ...
Make Progress EverydayAny small step to improve yourhealth or increase your wealth isbetter than doing nothing!           ...
SSHW Challenge Data Reports27
Annual Non-Competitive       SSHW Challenges28
Defy Someone or            Defy The Odds• Make a bet and win it• Prove someone wrong• Stop being a statistic!             ...
Think Balance-Not Sacrifice• Need to balance intake and outgo• Weight: Burn more calories than consumed• Savings: Earn mor...
Meet Yourself Halfway• Health: Decrease portion sizes by 1/3 to 1/2 and/or  increase exercise by 50%  – Eat half as much a...
Automate Good Habits• Health: Routine health screenings, “points”  programs for weight loss, short programmed  workouts (e...
Convert Consumption (Calories and Spending) Into Labor• Health: How many hours of exercise are needed to  burn off extra f...
Step Down to Change• Don’t cut out something completely• Find a better alternative    Source: Dr. Alena Johnson, Utah Stat...
Compare Yourself With Benchmarks• Health:   – Body Mass Index (BMI)   – Total cholesterol < 200 mg/dl   – 30 minutes of ph...
Live “The Power of 10”• Lose 10% of body   • Save $10 a week or  weight             month• Walk 10,000        •Invest 10% ...
Kick It Up a Notch!• Ramp up physical      • Transfer credit card  activity                balances to lower rate• Work up...
What Will YOU Do to Get Healthy and Wealthy?                          38
Tangible Action Steps: Health• Prepare more meals at home• Tame the tube• Right-size food portions• Choose to move more• E...
Tangible Action Steps: Finances • Set tangible goals and take action • “Find” money to save/invest • Pay yourself first • ...
Major Take-Away:Focus on What You CAN ControlCAN’T Control                        CAN Control•   Speed of economic recover...
For More Health Information• www.smallstep.gov• www.eatright.org• www.healthypeople.gov• http://www.choosemyplate.gov/• ht...
For More Financial Information• http://njaes.rutgers.edu/money• www.AmericaSaves.org• www.cfp-board.org• www.powerpay.org•...
Comments? Questions?     Experiences?Be healthy, wealthy, and happy!                                  44
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NIFA-USDA SSHW Conference Presentation for employees-02-15-12 pptx

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Overview of Small Steps to Health and Wealth program.

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NIFA-USDA SSHW Conference Presentation for employees-02-15-12 pptx

  1. 1. Small Steps to Health and Wealth™ (SSHW): What You Think About, You Bring About!Dr. Barbara O’Neill, CFP®Rutgers Cooperative Extensiononeill@aesop.rutgers.eduwww.twitter.com/moneytalk1
  2. 2. Health and Finances Top New Year’s Resolutions• December 2011 Allianz Life Insurance Company survey (N =1,000)• Ranking of areas of life to focus on – 45% related to diet and exercise – 43% related to money management 2
  3. 3. “The Greatest Wealth is Health” Virgil (BC) 3
  4. 4. Signature ProgramCooperative Extensionsmajor health finance initiative isSmall Steps to Health and Wealth™ (SSHW)This program is designed:• to motivate consumers• to implement behavior change strategies• that simultaneously improve their health and personal finances. 4
  5. 5. Why SSHW? Americans Have “Issues”• Overweight/obesity• Physical inactivity• “Diabesity”• Low savings rates• High household debt/bankruptcy rates• Inadequate emergency reserves 5
  6. 6. Personal Introduction• Extension Specialist in Financial Resource Management at Rutgers University (NJ)• Cooperative Extension employee for 34 years• CFP® for 28 years• Financial educator and author• Co-author of SSHW program 6
  7. 7. “Street Cred”: I Lived SSHW and “Walked the Talk”• BMI of 27 (overweight) to normal weight• Lost > 30 lbs. and 22% if body weight• Fit physical activity into 3-hour R/T commute• Continued wealth accumulation strategies 7
  8. 8. SSHW History• Created by Barb O’Neill/Karen Ensle in 2004• Stresses small daily action steps• Includes research-based recommendations• Integrates health and personal finance topics 8
  9. 9. SSHW Web Site http://njaes.rutgers.edu/sshw/•Monthly Messages•Monthly Finance Message: Keep Good Records for Health and Finances•Monthly Health Message: Shopping Smart for the New Year•Challenges•SSHW Online Challenge – Fall 2010 Daily Motivational Messages – Spring 2010 Daily Motivational Messages – Winter 2010 Daily Motivational Messages•Printed SSHW Challenge Forms•SSHW Challenge FAQs (22k PDF)•Online Registration•Register Your Health and Wealth Goals•Share Your Success Stories•Posters•Are Your Savings Going Up in Smoke? (355k PDF)•Eating Away at Your Future? (374k PDF)•Is Your Lunch Eating Your Lunch? (318k PDF) 9•Nibbling Away at Your Bottom Line? (276k PDF)
  10. 10. March 2004 HHS Press Release“Consumers don’t need to go to extremes-- such as joininga gym or taking part in the latest diet plan-- to makeimprovements in their health. But they do need to get activeand eat healthier.”“America needs to get healthier one small step at a time.Each small step does make a difference, whether it’s takingthe stairs instead of an elevator or snacking on fruits andvegetables. The more small steps we can take, the furtherdown the road we will be toward better health for ourselvesand our families.” HHS Department Secretary Tommy G. Thompson 10
  11. 11. May 2003 National “Save ForYour Future” Campaign Booklet“You may not need a lot of money to accumulatemeaningful savings. Thanks to compound interest, smallregular savings can add up over time. Because, withcompound interest, it’s not just your money that earnsinterest-- your interest earns interest as well-- creating asnowball effect. The longer you save, the more compoundinterest works for you.” 11
  12. 12. This Presentation is About You!• To improve your health/increase your wealth• To identify personal health and wealth goals• To identify small daily action steps• To be motivated to apply SSHW strategies• To improve your life 12
  13. 13. What Does Your Wellness Wheel Look Like? 13
  14. 14. What are Your Health and Financial Goals?Health Goals Financial Goals•? •?•? •?•? •?•? •? 14
  15. 15. Similarities BetweenHealth and Personal Finances• Problems develop gradually• Less stigma due to increasing frequency• Impacts job productivity, discrimination• Lots of “jargon” – Medical terms and directions 15 – Financial terms and acronyms
  16. 16. More Health-Wealth Similarities• Lack of limits causes problems• Restrictions help avoid problems• Drastic solutions have major drawbacks• Need for routine check ups• People want “quick fixes” 16
  17. 17. Longevity Connections • Unhealthy lifestyle habits increase risk of disease and early death – “0” return on FICA tax contributions • Research: Healthy people often spend MORE on health care over their lifetimes – More years of medical expenses – Chronic disease in oldest years – Long-term care expenses 17Source: Do the Healthy Have Lower Lifetime Healthcare Costs? Journal of Financial Planning, July 2010, p. 14.
  18. 18. What are Other Ways That Health and Wealth are Connected? • ? • ? • ? • ? • ? 18
  19. 19. 5. SSHW Web Site Posters19
  20. 20. SSHW™ Framework: 25 Health & Wealth Behavior Change Strategies• Track Your Current Behavior • Use Easy Frames of Reference• Unload Your Childhood Baggage • Automate Good Habits and Create Templates• Put Your Mind To It • Live “The Power of 10”• Commit to Making a Change • Take Calculated Risks and Conquer Fears• Defy Someone or Defy the Odds • Appreciate Teachable Moments and Wake-Up• Think Balance-Not Sacrifice Calls• Control Your Destiny • Weigh the Costs and Benefits of Changing• Make Progress Every Day • Step Down to Change• Get Help and Be Accountable • Kick It Up a Notch• Meet Yourself Halfway • Control Your Environment• Say “No” to Supersizing • Monitor Your Progress & Reward Success• Convert Consumption Into Labor • Expect Obstacles & Prepare For Relapses• Compare Yourself With Benchmarks 20 • Set a Date & Get Started…Just Do It!
  21. 21. “The Jersey Diner Approach” • Adopt strategies that work for you • Choose 3 to 4 (max) strategies21
  22. 22. SSHW in Action: The Online SSHW Challenge22
  23. 23. Break Time! 23
  24. 24. Track Your Current Behavior (Exercise, Eating, Spending, Saving)• Use a pedometer: – Determine current number of steps- then build up gradually• Track foods eaten & calories consumed: – Use a “Calorie Counter” book for unlabeled foods• Track monthly income, expenses, cash flow – Is your cash flow positive or negative? – How can you adjust your cash flow? 24
  25. 25. Put Your Mind to It• Successful performers “see” achievements before they happen• Visualize your health and wealth goal• Remind yourself of previous successes• Banish “weasel words” and replace with bold declarations 25
  26. 26. Make Progress EverydayAny small step to improve yourhealth or increase your wealth isbetter than doing nothing! 26
  27. 27. SSHW Challenge Data Reports27
  28. 28. Annual Non-Competitive SSHW Challenges28
  29. 29. Defy Someone or Defy The Odds• Make a bet and win it• Prove someone wrong• Stop being a statistic! 29
  30. 30. Think Balance-Not Sacrifice• Need to balance intake and outgo• Weight: Burn more calories than consumed• Savings: Earn more money than spent• Changing just one habit can have big impact 30
  31. 31. Meet Yourself Halfway• Health: Decrease portion sizes by 1/3 to 1/2 and/or increase exercise by 50% – 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 31
  32. 32. Automate Good Habits• Health: Routine health screenings, “points” programs for weight loss, short programmed workouts (e.g., Curves®), portion-controlled foods• Finances: Dollar-cost averaging investment deposits, employer retirement savings plan deposits, automatic escalation of savings with pay raises, direct deposit 32
  33. 33. Convert Consumption (Calories and Spending) Into Labor• Health: How many hours of exercise are needed to burn off extra food? – 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? 33
  34. 34. Step Down to Change• Don’t cut out something completely• Find a better alternative Source: Dr. Alena Johnson, Utah State University 34
  35. 35. Compare Yourself With Benchmarks• Health: – Body Mass Index (BMI) – Total cholesterol < 200 mg/dl – 30 minutes of physical activity/day (> usual activity)• Finances: – Consumer debt-to-income ratio < 20% – Age x gross income divided by 10 (net worth formula in The Millionaire Next Door) – Emergency fund of at least 3 months expenses 35
  36. 36. Live “The Power of 10”• Lose 10% of body • Save $10 a week or weight month• Walk 10,000 •Invest 10% of your steps/day gross income• Eat 100 calories • Add $1/day ($10/day?) less per day to credit card payments •Invest some money in• Exercise in 10- stock (average 10% minute intervals return) 36
  37. 37. Kick It Up a Notch!• Ramp up physical • Transfer credit card activity balances to lower rate• Work up to 10,000 • Automatically increase steps/day savings at regular intervals• Increase fruits & vegetables in diet • Add 1/12 of mortgage payment (P & I) monthly• Do more of anything positive! • Do more of anything positive! 37
  38. 38. What Will YOU Do to Get Healthy and Wealthy? 38
  39. 39. Tangible Action Steps: Health• Prepare more meals at home• Tame the tube• Right-size food portions• Choose to move more• Eat more fruits and vegetables• Re-think your drinks 39
  40. 40. Tangible Action Steps: Finances • Set tangible goals and take action • “Find” money to save/invest • Pay yourself first • Practice tax avoidance • Benchmark your progress (e.g., net worth) • Get help when needed 40
  41. 41. Major Take-Away:Focus on What You CAN ControlCAN’T Control CAN Control• Speed of economic recovery • Healthy lifestyle• Financial markets • Spending and saving habits• Labor market/unemployment rate • Human capital investments• Housing market • How you spend your time• Employee benefit cutbacks• Political environment
  42. 42. For More Health Information• www.smallstep.gov• www.eatright.org• www.healthypeople.gov• http://www.choosemyplate.gov/• http://www.letsmove.gov/• http://www.extension.org/families_food_fitness 42
  43. 43. For More Financial Information• http://njaes.rutgers.edu/money• www.AmericaSaves.org• www.cfp-board.org• www.powerpay.org• www.mymoney.gov• www.smartaboutmoney.org 43• http://www.extension.org/personal_finance
  44. 44. Comments? Questions? Experiences?Be healthy, wealthy, and happy! 44

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