1. FINANCIAL HEALTH AN EAP OCCUPATIONAL STRESS PROGRAM 8/14/20151

2. OBJECTIVES Establish a Budget Set Financial Goals Take Action to Build a Financial Safety Net Learn to Manage Debt and Live Within Our Means 8/14/20152

3. 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 8/14/20153

4. 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 8/14/20154

5. BUDGETING Review the budget worksheet Identify essential items (necessities) List non-essential expenditures (habits – indulgences) Reference Handout – Non – Essential Expenditures 8/14/20155

6. 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. 8/14/20156

7. 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 8/14/20157

8. 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 8/14/20158

9. 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 8/14/20159

10. MANAGE DEBT AND LIVE WITHIN YOUR MEANS Pay yourself first Use automatic transfers Use payroll deduction Every cent counts… 8/14/201510

11. QUESTIONS - DISCUSSION Wrap-Up Evaluations 8/14/201511

12. RELATED LINKS MU Office of Financial Success http://pfp.missouri.edu/financial/index.html Personal Finance http://missourifamilies.org/features/financearticles /budget.htm 8/14/201512

13. RELATED LINKS Financial Tip of the Week http://pfp.missouri.edu/financial/tipoftheweek/free budgettools.pdf 8/14/201513