1. AN EAP OCCUPATIONAL STRESS PROGRAM
FINANCIAL HEALTH
AN EAP OCCUPATIONAL STRESS PROGRAM
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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
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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
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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
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5. BUDGETING Review the budget worksheet
Identify essential items (necessities)
List non-essential expenditures (habits – indulgences)
Reference Handout – Non – Essential Expenditures
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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.
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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
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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
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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
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10. MANAGE DEBT AND LIVE WITHIN YOUR MEANS
Pay yourself first
Use automatic transfers
Use payroll deduction
Every cent counts…
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11. QUESTIONS - DISCUSSION
Wrap-Up
Evaluations
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12. RELATED LINKS
MU Office of Financial Success Personal Finance
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13. RELATED LINKS
Financial Tip of the Week
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