HealthyLife Articles

Tag: Financial Wellness

  • Improve Your Home

    FINANCIAL HEALTH

    Couple looking at paint swatches.

    Owning a home is a big investment. Regular maintenance and improvement projects help protect your asset and keep it in top condition. These home projects are the best bang for your buck.

    Freshen up the paint

    A new coat of paint, both inside and out, can make your home look up to date and appealing. It’s an inexpensive way to transform any room, and it’s easy to do yourself.

    Update fixtures

    Outlet covers, switch plates, light fixtures, and door knobs are simple to replace and make great finishing touches. These minor details really stand out.

    Kitchen cabinets

    Kitchen remodels are one of the priciest home upgrades.  If that is outside your budget, don’t worry. Instead, refresh your existing kitchen cabinets with a more modern paint color or stain.

    Install crown molding

    This task takes a bit of know-how, but it’s a simple cosmetic improvement that boosts the appearance of the interior. Crown molding makes rooms look pulled together and complete.

    Replace front door

    Your front door can make a big statement. If the door is worn out, old, or just plain boring, replace it with one that has a fresh, updated color.

    Clean up the landscaping

    The exterior of your home is the first thing people see. A well-cared-for yard and tidy landscaping set the tone for everything else. Keep planting beds free of weeds and well-mulched.

    © American Institute for Preventive Medicine

  • Why You Should Check Your Social Security Statement

    FINANCIAL HEALTH

    Man smiling while using the computer.

    If you’re not close to retirement, you may not think much about your Social Security statement. But you can – and should – check it once a year. Here’s why:

    *  There could be errors in your wages that need to be corrected.

    *  You can see how much you’ve paid into Social Security.

    *  You can get an estimate of your future Social Security payments.

    *  You can make sure your address or direct deposit information is correct.

    Check your statement for free online at the official Social Security website atssa.gov. Make sure you are on a website that ends in “.gov” or it’s not the official website.

    © American Institute for Preventive Medicine

  • Prevent Injuries

    Work Life

    Most workplace injuries can be prevented. What you need to do depends on the job you do and the hazards you are exposed to. Your place of work may have certain standards and safety measures. Some are set by the Occupational Safety and Health Administration (OSHA). Know and follow your workplace’s safety rules. Ask questions if you don’t understand them.

    General Safety Tips

    *  Help prevent slip and falls.

    – Keep walk areas free from clutter. Secure telephone and electrical cords to prevent tripping.

    – Wear nonskid shoes or footwear with a tread pattern to prevent slips, if needed.

    – Keep walking surfaces dry and free of water, grease, etc.

    – Use proper lighting. Look where you are going. Don’t carry things that block your vision.

    – Don’t lean back in your chair.

    – Don’t climb on chairs or boxes. Use a ladder that lets you safely reach items.

    *  Don’t pile items on stairs or against doors.

    *  Report injuries and “near misses” of injuries to your supervisor or to security. Follow your company’s rules for this.

    Safety for High Risk Occupations

    Certain jobs may require workers to:

    *  Use Material Safety Data Sheets (MSDSs). These tell you how to use chemicals safely. They can be on printed pages and in a computer. Know where this data is. Use the information given.

    *  Wear protective headgear (e.g., hard hats, hair covers, etc.).

    *  Wear safety glasses with side shields, goggles, face shields, tinted glasses to reduce glare, etc. Keep eyewear clean and in good condition. Replace it if it is broken or has a defect.

    *  Wear ear plugs or special ear muffs. These protect hearing from damage.

    *  Wear steel-toe shoes or boots.

    *  Protect your lungs from dust, fumes, gases, vapors, etc. If needed, use the right type of mask or respirator for the material you are working with. Not all masks filter all particles or gases. Have your respirator “fit tested” to assure safe use.

    Healthier at Home book by the American Institute for Preventive Medicine. www.HealthyLife.com. All rights reserved.

    © American Institute for Preventive Medicine

  • Keeping Cool When Work Heats Up

    WORK LIFE

    Image of a great of employees.

    Have you ever been in a tense situation at work? Perhaps two people were arguing or someone got angry with you.

    Though it’s hard to stay calm in these types of situations, it’s the best thing you can do. If you don’t react strongly, you can help defuse tension and find a helpful resolution.

    Focus on a solution

    It’s easy to get wrapped up in the problem, not the solution. Ask yourself, “what are we trying to accomplish?” Many workplace arguments start because two people have different ideas about what should be done. But, both people ultimately want to fix the same problem.

    Sometimes, an argument can be stopped if both parties remember what they both want: a good outcome. Talk about what you agree upon, and try to build from there.

    Take pause

    When something stressful is happening, your body immediately wants to respond. You may feel tense and anxious. You may also want to run from the situation or defend yourself. This is a normal “fight-or-flight” response that wants to protect you. But, this isn’t always the best way to react. Here’s how you can stay in control:

    *  Watch your breathing. Take deep, slow breaths to help calm your body’s natural response to stress. This can help you think more clearly and lower your anxious feelings.

    *  Think before you speak. It’s okay to pause before answering a question. Also, you can say, “Let me think about that for a moment.” This gives you time to come up with a professional response, rather than an angry one.

    *  Wait to hit “send.” Read emails out loud to yourself before you send them. Save the draft and wait before you send it if you’re angry. This can help avoid something you will later regret.

    © American Institute for Preventive Medicine

  • Refinancing Pros & Cons

    FINANCIAL HEALTH

    Couple sitting on floor with laptop.

    There are pros & cons to refinancing your home. It may not be the best choice for everyone, depending on their unique situation.

    Pros

    *  Lower interest rate: When refinancing at a lower rate, monthly payment decreases, and you’ll pay less over your mortgage life.

    *  Changing the term of your mortgage: When you refinance, you essentially take out a brand new mortgage. This allows you to set new terms, meaning you can either lengthen or shorten the term.

    *  Cashing out on home equity: If your home is worth more than the remaining mortgage, you may be able to do a cash-out refinancing.

    Cons

    *  Refinancing costs: There can be a lot of expenses involved in refinancing your home. Calculate whether the savings from a lower interest rate will balance out the fees.

    *  Prepayment penalties: Some lenders charge a penalty for paying off a loan early. Determine if any penalties apply and what they are, as that may add to refinancing costs.

    *  Refinancing restarts amortization: In the early years of a loan, you pay more on interest and less on principal. In later years, you pay more on principal and less on interest. Refinancing may set you back to paying more interest.

    © American Institute for Preventive Medicine

  • Protect Yourself From Identity Theft

    Financial Health

    Manage and minimize misuse of your personal information

    Consumers lose billions of dollars every year to crooks who steal their identity and money through fraud. Avoid becoming a victim.

    Keep your personal information safe and secure:

    *  Put your Social Security card, Medicare card, military ID, and passport in a secure place, unless you need to use them. Memorize your social security number (SSN). Lock your purse or wallet in a safe place at work. Or carry your wallet with you.

    *  Shred or cut up bank statements, checks, credit card applications, expired charge cards, medical and insurance forms, and prescription labels you no longer need before throwing them away. Otherwise, keep them locked up. You can opt out of credit card offers received in the mail atwww.optoutprescreen.comor by calling (888) 567-8688.

    *  Use passwords and PIN numbers to protect your credit card and bank accounts, your smartphone, and all computer devices. Choose passwords with upper and lower case letters, numbers, and symbols. Nix using common items like your house numbers, phone number, and last four digits of your SSN.

    *  Install and regularly update anti-virus and anti-spyware on your smartphone and computer devices.

    *  Use only secure sites online when you need to give financial or personal information. These have Web addresses with “https” or “shttp” or show a lock symbol.

    *  When you are away, have someone you trust pick up your mail or have the post office hold it for you.

    Avoid scams:

    *  Do not give your social security number or bank account numbers to persons in emails or on the phone.

    *  Don’t wire money to strangers, to sellers who insist on wire transfers for payment, or to anyone who claims to be a relative or family friend in an emergency who wants to keep the request a secret.

    *  Check your credit card, medical bill, and bank statements when you receive them in the mail or online. Report charges you did not make to the company right away.

    *  To help avoid ATM theft, use machines inside banks and ones you are familiar with. Don’t use machines that have extra items, even brochure holders, that could be cameras or that say they are “card cleaners.”

    Action Step

    Request a free copy of your credit report once every 12 months from three nationwide consumer reporting companies – Equifax, Experian, and TransUnion. Call (877) 322-8228. Check the reports for accuracy.

    Ways to Well-Being book by the American Institute for Preventive Medicine. www.HealthyLife.com. All rights reserved.

    © American Institute for Preventive Medicine

  • Know Your Rights With Rebates

    FINANCIAL HEALTH

    Person holding a bag of gifts.

    The holiday shopping season is here, and with it comes big sales and big purchases. Some stores and companies advertise big rebate offers to get you to buy. These offers may promise you a certain amount of money back, either immediately or after you send in a form.

    Usually, you buy the item, fill out and send in some paperwork, and wait for the rebate money to come in the mail. You probably need the sales receipt, a form and the packaging from the item. Sometimes you get a rebate within a month, but many rebates take longer – up to 12 weeks.

    The Federal Trade Commission says people should beware of rebates that take too long to show up – or never come at all. Companies are required by law to send the rebate within the promised timeframe. If there’s no timeframe listed, the timeframe is usually 30 days.

    Follow these tips if you buy a product with a rebate:

    *  Make sure you follow all the steps on the rebate form. Enclose all of the required paperwork.

    *  Make a copy of all your paperwork. You’ll want these records if your rebate doesn’t show up or if there’s a problem.

    *  Keep track of the date you sent the rebate. Contact the company if your rebate doesn’t show up when they promised it.

    If your rebate is late or never shows up, you can file a complaint. Contact the Federal Trade Commission, your state Attorney General or your local Better Business Bureau.

    © American Institute for Preventive Medicine

  • Prevent Burnout

    Stress Management

    Image of women with head in her hands.

    Recognize and treat early signs.

    Burnout isn’t something that happens overnight. It occurs over time from repeated and unresolved frustration or constant pressure to perform or achieve. With burnout, you feel exhausted, worn out, and detached from others. You feel as if you have nothing more to give and simply do not care about anything. Burnout puts your job, your relationships, and your health in jeopardy.

    Ten tips to prevent burnout:

    1.  Set career and personal goals that can be achieved.

    2.  Follow healthy eating and sleeping habits.

    3.  Exercise daily – At least 30 minutes most days of the week.

    4.  Try not to spread yourself too thin. Delegate tasks at work and at home.

    5.  Reduce long work or study hours, if you can. The more you do and the less you rest, the more likely burnout will occur.

    6.  Take regular five to 10 minute relaxation breaks. Take mental breaks from stressful situations, too. Learn to meditate. Practice relaxation techniques.

    7.  Make time for leisure activities that you enjoy and look forward to.

    8.  Get creative with a hobby or activity that has nothing to do with work.

    9.  Manage stress through meditation, yoga, or therapy.

    10. Plan a vacation one or more times a year. Leave your work at home!

    Signs on the road to burnout:

    *  Too much work, not enough relaxation

    *  Feeling as if you have no control over your job

    *  Anger

    *  Fatigue

    *  Sleep problems

    *  Escaping through alcohol, drugs, TV, eating, or gambling

    *  Avoiding making decisions

    *  Negative view of yourself and the world

    Also, some traits increase the risk for burnout. These include the need to be in control, wanting everything to be perfect, and being a workaholic.

    Action Step

    Discuss feelings and problems you are having with your family, friends, and coworkers. Talking helps ease feelings of frustration that can feed burnout. If things do not get better, get professional help.

    Page from Ways to Well-Being book by the American Institute for Preventive Medicine. www.HealthyLife.com. All rights reserved.

    © American Institute for Preventive Medicine

  • Resolve To Get Ready For Retirement

    Financial Health

    It’s never too early or too late.

    Whether you are in your 30s, 40s, 50s, or even your 60s, plan for your retirement. Research shows that people who think about and plan for retirement save more than those who don’t.

    Add up all sources of monthly income.

    *  Social Security. Find out how much you will get, monthly, from the Social Security. This depends on your work history and if you choose to start getting benefits at age 62 or your full retirement age (65, 66, or 67) or wait until age 70. A yearly statement mailed to you gives this information. Or, find out from Social Security benefit calculators atwww.socialsecurity.gov/retire2/index.htmandwww.socialsecurity.gov/planners/index.htm#a0=1. Do the same for a partner who will also receive Social Security benefits. In general, the amount you receive for Social Security retirement accounts for about 40 percent of your pre-retirement earnings.  $____

    *  Private pensions from all employers  $____

    *  Personal savings. This includes money you have  in the bank and earnings on 401(k)s, 403(b)s,  traditional and Roth IRAs, and other investments:  $____

    *  Cash value life insurance. These are whole life or variable life policies.  $____

    *  Part-time income you and/or your partner expect to make.   $____

    Total monthly sources of income:   $____

    You do the math:

    Total monthly income needed:  $______

    Subtract total monthly sources of income:  – $______

    How much you’ll need to make up for each retirement month:  = $______

    Plan, now, ways to earn and/or save more for retirement.

    Figure out how much you’ll need.

    According to the Employee Benefit Research Institute, 56 percent of workers have no idea how much they need to save for retirement. On average, people need at least 70 percent of their yearly pre-retirement income. This can vary, depending on your age and needs. You will need more if you need to pay for your medical care. To estimate how much you might need, use a tool atwww.choosetosave.org/ballpark. Other calculators to help you plan can be found atwww.choosetosave.org/calculators. Include estimates for health care and other costs, such as a new car and home repairs. {Note: It will be easier to get a car loan if you buy the car while you are still employed.}

    Total monthly income needed:  $____

    Action Step

    Make an appointment with a financial planner at work or on your own to discuss retirement saving options that best meet your needs.

    Ways to Well-Being book by the American Institute for Preventive Medicine. www.HealthyLife.com. All rights reserved.

    © American Institute for Preventive Medicine

  • Be Kind To Your Voice

    WORK LIFE

    Man smiling.

    Your voice is unique to you. You probably use it every day for work. But do you give it the TLC it needs to stay healthy and clear?

    Do you have a job where you use your voice often?

    Attorneys, teachers, sales people, human resources and customer service rely heavily on their voice for work.

    If you need your voice for work, avoid misusing it. If you misuse it, you may lose it!

    You can overuse or misuse your voice by talking in a large meeting room or noisy place by shouting or talking for long periods. You may have a sore throat or hoarseness afterward.

    Prepare your voice for long talks or loud meetings.

    Before a presentation or meeting, get plenty of rest. Drink water before, during and after your meeting. Use throat lozenges if needed. Use a microphone to help you avoid shouting.

    © American Institute for Preventive Medicine