Small Steps to
Health and
Wealth
Barbara O’Neill, Ph.D., CFP
Karen Ensle, Ed.D., RD, FADA
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How is
Your
Wellness
& Quality
of Life?
2
2
Class Content
1.
Discuss relationships between health & wealth
2.
Discuss common behavior change strategies
3.
Encourage participants to:

Set health and finance goals

Identify small steps to reach goals

Periodically monitor progress
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Overall Class Goal:
Empowerment
•
Set realistic goals
•
Identify small, do-able “action steps”
•
Identify obstacles and overcome them
•
“Put your mind to it” and take action
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Health & Human Services (HHS)
Press Release, March 2004
“Consumers don’t need to go to extremes-- such as joining a gym
or taking part in the latest diet plan-- to make improvements in
their health. But they do need to get active and eat healthier.”
“America needs to get healthier one small step at a time. Each
small step does make a difference, whether it’s taking the stairs
instead of an elevator or snacking on fruits and vegetables. The
more small steps we can take, the further down the road we will be
toward better health for ourselves and our families.”
Tommy G. Thompson, HHS Department Secretary
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“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, it’s 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.”
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Health and Finance “Issues”
Similarities
1. Problems develop gradually
2. Less stigma due to increasing frequency
3. Impacts job productivity, discrimination
4. Lots of technical jargon

Medical terms and directions

Financial terms and acronyms
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More Similarities
Health and Finance “Issues”
5. Need for programs in schools & at work sites
6. People fear drastic changes & large numbers
7. Need for more “point of purchase” info
8. Advice needs to be realistic
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Still More Similarities
Health and Finance “Issues”
9. Lack of limits causes problems
10. Restrictions help avoid problems
11. Drastic solutions have major drawbacks
12. Good health and wealth are related to:

Higher productivity, fewer work absences

Lower medical expenses to erode wealth

Live long enough to collect Social Security benefit
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Still More Similarities...
13. Longevity concerns: healthy people
need more money
14. People want quick fixes; targets for fraud
15. Denial and disconnects
16. Need for routine check-ups
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…And More Similarities
17. Many available resources
18. Poor risk perception
19. Personal Traits = Success
20. Government and employer intervention
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Overeating: An “Issue” for Many
1.
Many Americans overeat for their activity level
2.
3,500 calories = 1 pound
3.
100 extra calories a day = about 10 pounds per year
4.
Walking a mile burns about 100 calories
5.

Can lose about 10 pounds per year OR

Eat 100 cals/day more without weight gain
10,000 steps/day (about 5 miles) recommended
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Overspending:
Another Common “Issue”
•
Increasing household debt balances
•
“Perma-debt”
•
The minimum payment trap
•
Punitive credit card fees
•
> 1 million bankruptcies filed annually
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Save the Money Spent on
Unhealthy Behaviors
•
Fewer alcoholic beverages
•
Fewer “empty calorie” foods
•
Smaller portion sizes; more leftovers
•
Give up smoking
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Just One Example
•
$1.50 a day (junk food) saved from
age 18 to 67 = $290,363
•
$5.00 a day saved for 49 years = $ 1 million +
Assumes an 8% average annual return
Source: Getting Rich in America: 8 Simple Rules
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Ten Small Steps to Health & Wealth
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1. Convert Calories & 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?
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Case Example: French Fries
20 Years Ago
2.4 ounces
210 calories
Today
??? Calories
590? 610? 650?
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Today's 6.9-Ounce Portion of French
Fries Has 610 Calories
•
This is 400 more calories than a 2.4 oz portion
20 years ago.
• Now guess how long you will have to walk
leisurely in order to burn those extra calories?*
• 1 hour 10 minutes
2 hours 20 minutes
3 hours
*Based on a 160-pound person
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To Burn the French Fries,
Walk 1 Hour & 10 Minutes
•
If you walk leisurely for 1 hour and 10
minutes you will burn approximately 400
calories.*
*Based on a 160-pound person.
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2. Meet Yourself Halfway…
Or You Will Feel Deprived
•
•
Health: Decrease portion sizes of favorite foods by
1/3 to 1/2 and/or increase exercise

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
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“The Latte Factor” (David Bach)
It’s not just about giving up pricey coffee
• It’s about “finding” money to save by reducing
everyday expenses
• What are your “lattes”?
 _______________
 _______________
 _______________
 _______________
•
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3. Downsize and Substitute
Health: “Just eat less” (than you do now)
 Buy less food
 Eating out? Try lunch portions and appetizers
 Buy low-calorie versions of foods
 Control your condiments
• Finances: “Just spend less” (than you do now)
 Buy fewer items
 Track spending to understand habits
 Shop smart to buy things for less
 Buy lower-cost brands
•
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4. Just Say “No” to Super-Sizing
•
Health: Steer clear of “meal deals” in
restaurants and order smaller portions
 People often eat all the food they are given
•
Finances: Avoid “buy three and save” offers
when you only need one item
 Scrutinize offers to trade-up to a costlier
item (bait and switch?) or buy more items
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Is Bigger Better?
•
1957: 1 oz. fast food burger 210
calories
•
2002: 6 oz fast food burger at 618
calories
Source: U.S News & World Report, August 19, 2002,
Vol.133, No. 7.
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Change in Soft Drink Consumption
•
In 1994 a 6.5 oz Coca Cola was
79 calories
•
In 2002 a 20 oz. Coca Cola is
250 calories
Source: U.S News & World Report, August 19, 2002, Vol.133, No. 7.
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5. Track Your Current Habits
(Exercise, Eating, & Spending)
•
Use a pedometer:
 To determine current number of steps- then build up gradually

•
Track foods eaten & calories consumed:

•
“Use your feet more and you can eat more”
Use a “Calorie Counter” book for unlabeled foods
Track monthly income, expenses, & cash flow

Is spending or eating related to emotions?
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6. Compare Yourself With Experts’
Recommendations
•
Health:
 Body Mass Index (BMI)
 “Five a day” (fruits and vegetables)
 Total cholesterol < 200 mg/dl
• Finances:
 Consumer debt-to-income ratio < 20%
 Age x gross income divided by 10 (Stanley & Danko
net worth formula in The Millionaire Next Door)
 Suggested asset allocations by age
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What is BMI? (Body Mass Index )
A formula based on height & weight used to determine
a healthy person’s body fat
A simple index to determine whether a person is at risk
for weight-related diseases
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7. Learn the Standards For Health and
Financial Advice
•
Health: Compare portion sizes to objects



3 oz of meat or fish = size of deck of cards
1 cup of rice or pasta = size of a tennis ball
Weekly fitness guidelines:


•
30 minutes of daily exercise for adults;
60 minutes daily for youth
Finances: Follow guidelines for saving


Emergency fund of 3 to 6 months expenses
Retirement income of at least 70% to 80% of
pre-retirement amount
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8. Put Good Habits On “Automatic Pilot”
•
Health: Routine health screenings, nutritional
shakes and “points” programs for weight loss, short
programmed workouts (e.g., Curves)
•
Finances: Dollar-cost averaging investment
deposits, employer retirement savings plan, Save
More Tomorrow concept, direct deposit
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9. Control Intake and Outgo
•
•
Health: “Budget” your daily calories
 Reduce the amount of food consumed
 Increase exercise to burn off more calories
 Do both
Finances: Develop a written spending plan
 Reduce household expenses
 Increase income or benefits in lieu of income
 Do both
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10. Small Remedies Make a Difference
•
Many people believe they must make major
lifestyle changes to be healthy and wealthy
•
“Gloom and doom” messages don’t work
•
Start small with a specific goal in mind
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Examples of Small Remedies
•
Health:

Use less butter or
salad dressing,

drink less soda,

cut portion sizes,

share an entrée,

get two meals from
one,

make time to exercise
Finances:
• Save $1/day + pocket change,
• Add $1/day to the minimum
payment due on a credit card,
• Save an extra 1% of pay in a 401(k)
plan,
• Buy an EE bond monthly for $25
Track Your Progress: Success = Motivation
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Make Progress Everyday
Any small step to improve your
health or increase your wealth is
better than doing nothing!
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Key Health and Wealth Factors
•
•
•
•
•
•
•
Attitude
Automation
Awareness/knowledge
Control
Environment
Goals
Time
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Comments? Questions?
Experiences?
Be healthy,
wealthy, and
happy…always.
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For More Information
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www.smallstep.gov
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www.YourDiseaseRisk.
Harvard.edu
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www.Medlineplus.gov
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www.eatright.org
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www.healthypeople.gov
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•
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www.rce.rutgers.edu/money2000
www.investing.rutgers.edu
www.nefe.org/latesavers/
index.html
www.asec.org
www.pueblo.gsa.gov
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