This webinar covered 10 small steps for improved personal finances and health in 2021. For finances, tips included tracking expenses, converting spending to hours worked, meeting yourself halfway by reducing discretionary spending, and living "The Power of 10" by focusing on multiples of 10. For health, strategies included using easy frames of reference like eating 5 daily servings of fruits and vegetables, tracking current behaviors with a food diary, and comparing to benchmarks like BMI. Both sections emphasized automation, thinking balance over sacrifice, and expecting obstacles while preparing for relapses in goal pursuit. Participants were encouraged to select 2-3 strategies to initially act on.

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https://njaes.rutgers.edu/online-event-series/wellness-
wednesdays.php

3. Rutgers Cooperative Extension
Agriculture & Natural Resources - 4-H Youth Development - Family & Community Health Sciences
Partners:
Rutgers, the State University of New Jersey- The State of New Jersey
County Boards of Commissioners - National Institute of Food & Agriculture, USDA
State Website: https://njaes.rutgers.edu/fchs/
Facebook & Instagram: FCHS, Rutgers Cooperative Extension

4. Dr. Barbara O’Neill, CFP®, AFC®
@moneytalk1
https://www.moneytalkbmo.com/
https://njaes.rutgers.edu/money/
10 Small Steps to Improve Your
Finances in 2021

6. This Presentation is Like a Jersey Diner Menu

7. COVID-19 “Lens”: Three Personal
Finance Categories
•Reduced Income and Struggling
•Stable Income but Anxious
•Increased Income with Opportunities

8. General COVID-19 Financial Planning Tips
• Everyone- Address estate planning urgency; consider income tax implications
of changed income; and create a (revised) budget
• Reduced Income- Prioritize needs, obligations, and wants; reach out for help;
assess resources (e.g., savings, retirement plan); protect credit rating
• Stable Income- Develop a furlough preparation plan; increase emergency
fund; accelerate debt repayment; invest in human capital; refinance mortgage
• Increased Income- Save/invest positive cash flow; consider high ROI home
improvements; get serious about philanthropy to help others

9. SSHW “Elevator Statement”
Small Steps to Health and Wealth™
encourages participants to make
positive behavior changes to
simultaneously improve their health
and personal finances.

10. Small Steps to Health and
Wealth™ Workbook and Website
http://njaes.rutgers.edu/sshw/

11. SSHW™ Framework: 25 Behavior
Change Strategies
• Track Your Current Behavior
• Unload Your Childhood Baggage
• Put Your Mind To It
• Commit to Making a Change
• Defy Someone or Defy the Odds
• Think Balance-Not Sacrifice
• Control Your Destiny
• Make Progress Every Day
• Get Help and Be Accountable
• Meet Yourself Halfway
• Say “No” to Supersizing
• Convert Consumption Into Labor
• Compare Yourself With Benchmarks
• Use Easy Frames of Reference
• Automate Good Habits and Create Templates
• Live “The Power of 10”
• Take Calculated Risks and Conquer Fears
• Appreciate Teachable Moments and Wake-Up
Calls
• Weigh the Costs and Benefits of Changing
• Step Down to Change
• Kick It Up a Notch
• Control Your Environment
• Monitor Your Progress & Reward Success
• Expect Obstacles & Prepare For Relapses
• Set a Date & Get Started…Just Do It!

12. 12
Track Your Current Behavior
Finances: Daily expense tracking (category and amount), income and
expense statement, savings challenges

13. 13
Convert Consumption (Spending) Into
Labor
Finances: How many hours of work are needed to buy something (use
after-tax dollars)?
• Is buying something worth the time worked?
• The process of doing this can foster “financial mindfulness”

14. 14
Meet Yourself Halfway
Finances: Reduce your discretionary spending by 1/2
• Spend half as much as you do now (e.g., $5 instead of $10)
• Look for less expensive purchase options (e.g., thrift shop)
• Save half of any raise or windfall (e.g., tax refund or prize)
• Save half of any “side hustle” income

15. 15
Defy Someone or Defy the Odds
Finances:
• Average household credit card balance: almost $6,200
• Percent of households with 3 months of expenses saved: 40%
• Percent of “paycheck to paycheck” households: 50% to 74% range
• 2019 bankruptcy filings: 772,646
Develop an Action Plan!

16. 16
Make Progress Every Day
Finances:
• Daily loose change in a jar or “round-up” savings with an app (to save or
reduce debt)
• Less spending per day
• Automatic savings through an employer plan
• Keep track of financial progress (graph or journal)
• Learn one new thing every day about personal finance

17. 17
Compare Yourself With Recommended
Benchmarks
Finances:
• Age x gross income divided by 10 (net worth formula in The Millionaire Next Door)
• Suggested investment asset allocations by age
• Super-prime credit score: 760 to 850
• Emergency fund of at least 3 month’s expenses
• Consumer debt-to-income ratio < 20%

18. 18
Automate Good Habits
Finances:
• Dollar-cost averaging investment deposits
• Employer retirement savings plan
• Automated checking to savings account transfers
• Automated portfolio rebalancing
• Financial templates
• Direct deposit

19. 19
Step Down to Change
Finances: Picture a descending staircase; do (spend) LESS
• Upscale department store, department store, discount store, thrift shop
• Eating pancakes at a restaurant, fast food, microwave, pancake mix
• Lower price point items and brands
• Lower cost substitutes
• Less frequency of purchases (e.g., eating out)

20. 20
Kick It Up a Notch
Finances: Picture an ascending staircase; do MORE
• Increase retirement savings by 1% (or more) of pay
• Increase payments on credit cards
• “Find” money to save or reduce debt by reducing expenses
• Increase emergency savings
• Increase charitable contributions

21. 21
Live “The Power of Ten”
Finances: Focus on “10” or multiples of 10
• Add $10 a day (or $1 a day) to debt payments
• Complete the 30-Day $100 Savings Challenge
• Save $1 a day plus loose change in a jar
• “Pay Yourself First” by saving at least 10% of gross income
• Invest some money in stocks or stock funds (10% historical return)

22. Start Small: Select 2-3 SSHW Strategies
to Act Upon

23. Questions?
Comments?
Experiences?
@moneytalk1
boneill@njaes.rutgers.edu
https://www.moneytalkbmo.com/
https://njaes.rutgers.edu/money/
Stay Safe and
Be Well!

24. 10 Small Steps for Improved Health
in 2021
Karen Ensle Ed.D., RDN, FAND, CFCS
Department of Family and Community Health Sciences
Rutgers Cooperative Extension of Union County
kensle@njaes.rutgers.edu

25. Easy Steps for a Healthier 2021
• Think about small changes that
make a BIG difference.
• Want to lose weight, start
exercising or eat healthier?
• Research shows baby steps are
more sustainable.
• Take Charge of Your Health for
Success AND behavior change.

26. Use Easy Frames of Reference
Five Daily Health & Nutrition Practices
• Eat at least 4 1/2 cups of fruits and vegetables;
• Get at least 30 minutes of exercise; more to lose
weight;
• Drink water or unsweetened beverages instead of
sugar-sweetened beverages;
• Walk 10,000 or more steps a day with a pedometer;
• Learn something new about health and nutrition
weekly.

27. Track Your Current Behavior
Physical Activity and Eating
• Use a pedometer: To determine current number of
steps- then build up gradually
• “Use your feet more and you can eat more”
• Track foods eaten & calories consumed
• Keep a food diary on a mobile app
• Use a “Calorie Counter” website or app for unlabeled
foods
• Think about how eating is related to your emotions.
http://njaes.rutgers.edu/sshw/workbook/01_Track_Your_Current_Behavior.pdf

28. Compare Yourself With
Recommended Benchmarks
• Follow the Science
• US Dietary Guidelines for Americans, 2020-2025
• Physical Activity Guidelines for Americans, 2nd edition
• Benchmark examples are:
–Body Mass Index (BMI)
–Total cholesterol < 200 mg/dl
–MyPlate portion sizes
http://njaes.rutgers.edu/sshw/workbook/13_Compare_Yourself_With_Recommended_Benchmarks.pdf

29. Think Balance-Not Sacrifice
• Balancing work and home life critical during pandemic
• Need to balance food intake and physical activity
• Many adults and youth today are “out of balance”
• Changing just one habit can have big impact
http://njaes.rutgers.edu/sshw/workbook/06_Think_Balance-Not_Sacrifice.pdf

30. Control Your Destiny
• Set Yourself Up for Healthy
Eating
• Stock your pantry, fridge and
freezer with healthy foods
• Use smaller plates and glasses
• Pre-portion high calorie items
such as desserts and snacks
• Watch portion sizes

31. Stepping Up to Success

32. Meet Yourself Halfway
• 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 lose weight
• Take ½ of restaurant meals home

33. Say “No” to Supersizing
• Limit your intake of fast foods and processed foods.
• Take any large portions, split them into halves or thirds. Choose
healthier fast foods.
• Swap out refined carbohydrates (added SUGAR) and replace
sweetened beverages with water.

34. EAT Healthy Foods !
• Minimally processed food
• Make ½ of your plate fruit and
veggies
• Make ½ of your daily grains,
whole grain
• Consume legumes, nuts & seeds
for protein along with eggs, fish,
poultry, and meat
• Choose water as your main
beverage

35. Be Mindful & Control Your Destiny
• Notice what you are eating and how
much you consume.
• Where and when are you eating?
• What and why are you eating? Is it
necessary?
• Do you mindlessly eat at night or in front
of the TV or when on your computer or
phone?
• Do you eat in response to stress?
COVID-19 ? Sadness or Loneliness?
• Try Mindful Walking and Eating. Enjoy
both!

36. Automate Good Habits and Create Templates
• Routine health screenings
• Use automatic tracking app
• Eating a Healthy Breakfast daily
• Nutritional “points” programs for
healthy weight loss
• Short programmed workouts
• Positive Routines can add to your
overall health
http://njaes.rutgers.edu/sshw/workbook/15_Automate_Good_Habits_and_Create_Templates.pdf

37. Live “The Power of 10”
• Lose 10% of body weight
• Walk 10,000 steps/day
• Eat 100 calories less per day
• Exercise in 10-minute intervals
http://njaes.rutgers.edu/sshw/workbook/16_Live_The_Power_of_10.pdf

38. Expect Obstacles & Prepare for Relapses
• Have a plan and decide what dietary
and physical activity changes you
are willing to make.
• Set realistic, achievable, time-
bound goals to move toward those
changes.
• Don’t bite off more than you can
accomplish.
• Take “small steps” toward your
goals.

39. Commit to Making a Change
• Take it slow and make sure your
plan is doable.
• If you are trying to lose weight,
GRADUAL weight loss is the key.
• Aim to lose ½ to 1 pound per
week.
• Two effective and healthy diet
plans are the Mediterranean and
DASH diets.

40. Monitor Your Progress & Reward Success
• Keep Your Blood Pressure
Under Control
• Choose foods with less sodium
and prepare foods with little or
no salt.
• Limit intake of processed food.
• Start walking

41. Get Help and Be Accountable
Sources of support to reach
goals:
• Friends, family, co-workers
• Pets
• Employers
• Support groups
http://njaes.rutgers.edu/sshw/workbook/09_Get_Help_and_Be_Accountable.pdf

42. Make Progress Everyday
Any small step to improve your
health or increase your wealth is
better than doing nothing!
http://njaes.rutgers.edu/sshw/workbook/08_Make_Progress_Every_Day.pdf

44. Resources
• Manage Stress: heart.org/en/healthy-living-lifestyle/stgress-
management
• Address Alcohol Use: NIAAA.NIH.gov
• Help for Depression: health.gov/myhealthfinder/topics/doctor-
visits/screening-tests/talk-your-doctor-about-depression
• Health Screenings: health.gov/myhealthfinder
• Stop Smoking: smokefree.gov
• Sleep: sleepassociation.org

45. This information will be
used to ensure our
extension programming is
reaching a diverse
audience.
Your assistance is greatly
appreciated
and will help us with
future planning.
Cooperating Agencies: Rutgers, The State University of New Jersey, U.S. Department of Agriculture, and
County Boards of Commissioners. Educational programs are offered without regard to race, sex, disability,
color, national origin, or age. Rutgers Cooperative Extension is an Equal Opportunity Employer.
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