Are you ready to be ?

Challenge Details: All program materials will be available on the portal on 2/26.

Login to download your materials and to begin completing your tasks.

Pace yourself – use our weekly guide to take your time over the course of the 4-week challenge and work up your financial fitness with a variety of tools.

At the end of the challenge: o All worksheets, activities and guides are confidential and yours to keep! Only

turn in your Tracking Sheet. o Earn 5 points for each action item you complete on the tracking sheet! o Fill in your tracking sheet and submit it to wellness@uc.edu or to ML0039

(attention Be Well UC) - due by noon on 3/30!

All points will be added for you and visible in the portal by 4/6.

Important Dates: Feb 12: Registration open.

Feb 22: Join us for our kick-off at the Invest In Yourself Event.

Feb 26-Mar 26: Challenge runs. (starting during America Saves Week!).

Mar 30: Submit your Financially Fit Tracking Sheet to wellness@uc.edu by noon.

Apr 6: Earn up to 40 Be Well UC points – your points visible on the portal.

Learning how to be financially fit can help you to improve your health, wellness and overall morale. When your finances are causing you stress, it can be hard to find time for other aspects of wellness.

This challenge will help you to take control of your finances and recognize where you may need to do a little bit of “heavy lifting” to feel secure and well with your financial wellness.

Name: _______________________________________

M#: _________________________________________

UC Email: ____________________________________

Tracking Sheet due by noon 3/30/18 Each activity is worth 5 points; 40 points total

Week: Activities: Complete:

Week 1: Your Spending Got You Sweating?

Read Intro Materials on Alyfe portal

Track Spending for 5 days using Spending Tracker

Week 2: Body Building Budgeting

Complete the Body Building Budget goal setting

Create your own Body Building Budget

Week 3: Pilates For Your Pocketbook

Pilates for Your Pocketbook Activity 1: ______________

Pilates for Your Pocketbook Activity 2: ______________

Week 4: Cool Down By Saving

Cool Down By Saving Activity 1: ______________

Cool Down By Saving Activity 2: ______________

Total Points Earned:

Submit ONLY this Tracking Sheet via email to wellness@uc.edu

or interoffice mail to Be Well UC at ML 0039.

Additional Resources to consider: 1. ChoosetoSave.org (http://bit.ly/2m4CiVd) - Ballpark E$timate is an interactive tool, with accompanying apps, that can help you determine how much you should save to "fund a comfortable retirement." 2. MyMoney.gov (http://bit.ly/2qrpcWQ) - The U.S. Financial Literacy and Education Commission's with the basics about financial education. We recommend the Save & Invest section.

Week 1 tasks: Read challenge intro materials & download tracker.

Track your spending for 5 days.

Why Track your Spending? The real reason you track your expenses is to create financial awareness. Tracking your spending is the first step in understanding how you are managing your money. If you aren’t aware of where your money is going or how it’s being spent, you won’t know which habits you need to change in order to manage your finances.

Spending Tracker Use the tracker below to record each transaction you make for the week. Star those that are necessary and non-negotiables, leaving you with items that can be evaluated and modified to help you meet your goals. For this purpose, do not include bills paid, but rather what may come up over the course of a typical week. Monday Tuesday Wednesday Thursday Friday Total/category:

Breakfast

Lunch

Snacks/Coffee

Dinner

Groceries

Gas/car expense

Shopping/various

Charitable

Other

Total for the week:

Week 1: Your Spending Got You Sweating?

Here are mobile apps to track your finances: Acorns, Albert, BillGuard, BUDGT, CountAbout, Credit Karma, Digit bot, Dollarbird, Fudget, GoodBudget, HomeBudget, LearnVest, Level Money, Mint Budgeting, Money Dance, Mvelopes, Penny, Personal Capital, PocketGuard, Prism, PocketGuard Budget App, Quicken, Unsplurge, Wallaby, Wally, Wally Spendee, You Need a Budget, Your Money Wallet

Week 2 tasks:

Complete Body Building Goal Setting.

Complete Body Building Budget.

What are your financial goals? Consider your short and long-term goals so that you can work backward to determine how you can adjust your budget to reach them. 1 Month Goal: ______________________________________________________________________________ 6 Month Goal: ______________________________________________________________________________ 1 Year Goal: ________________________________________________________________________________ 5 Year Goal: ________________________________________________________________________________

Next, let’s create your budget! Looking at your weekly spending, you can now create a budget. Determine your monthly spendable income, subtract your expenses and spending to see a snapshot of your current financial state, and what’s left to invest! Monthly Income: Wages/bonuses

Other income

INCOME total: (A)

Monthly Expenses:

Mortgage/Rent

Car Payment

Student Loans

Other Loans

Credit Cards (avg. monthly)

Property Tax/Dues

Childcare/Child Support

Health insurance

Out of pocket health costs

Fitness/gym/health/wellness

Pet health/care

Clothing

EXPENSES Continued in Next Column

Monthly Available Funds: (C) Calculate this by subtracting your expenses from your income. A: ________________ - B: ________________= C: _____________________________

Monthly Expenses (continued): Homeowners/Renters Insurance

Repairs/Maintenance/Household

Water/Sewer

Gas/Electric

Car Insurance

Repairs/Maintenance - Car

Other transportation (bus, Uber, etc.)

Cable/Internet/Other (Netflix, etc.)

Phone (Home/Cell)

Entertainment (hobbies, movies, etc.)

Eating Out

Groceries

Investments: Retirement/Savings/Stocks

Miscellaneous/Other spending

Other:

Other:

EXPENSES total: (B)

Week 2: Body Building Budgeting

Additional Resources to consider: 1. Yes, you can save $1 million by the time you retire (http://bit.ly/2CvmSzD): Learn how to invest in your retirement savings. 2. 12 Smart Ways to Save on Utilities (http://bit.ly/2CKwUjs) including changing the thermostat & letting your dishwasher work! 3. 15 Simple Ways to Save Money on Groceries and Still Eat Well (http://bit.ly/2EcAuzU) (from Life Hack)

Week 3 tasks: Complete 2 activities from list below!

Cost Management Now it’s time to plan and adjust your budget. Cost management allows you to predict impending expenditures to help reduce the chance of going over budget. Are there ways you can reduce or eliminate these costs?

Week 3: Pilates For Your Pocketbook

Activities to Help You S-T-R-E-T-C-H Your Budget Pick 2 of the below activities, or find some on your own, to help you cut unnecessary expenses out of your budget and get on track to reaching your financial goals!

Done! Activity

Make coffee at home all week. Bring lunch to work at least 3 days out of the week instead of eating out. Purchase needed clothing or household item on sale or consider used/upcycling. Perform household chores on your own instead of hiring out. Program your thermostat to manage your energy usage. Drop your cable television or cell phone service to a less expensive package. Try public transportation, carpool or ride a bike instead of commuting. Request a credit card rate reduction. Sign up for automatic payment reminders and/or repayment plans. Clean, purge and sell unused/unneeded items. Switch out your light bulbs to CFL or LED. Unplug any used electrical device (any plugged in are drawing some electricity). Cancel unused memberships or unread subscriptions. Use coupons or other money saving apps to reduce expenses when you shop. Buy generic items in place of more expensive, name brand items. Evaluate your homeowners and auto insurance – shop around for a lower rate. Consider grooming/beauty product savings – combining services, changing brands, etc. Reduce consumable habits (tobacco/drinking).

Week 4 tasks: Complete 2 activities from list below!

Submit your tracker by 3/30!

Check out the many resources on our EAP’s website: http://bit.ly/2pD0wsZ Impact Solutions has a Savings Center with discount shopping program called Perks at Work. They also feature a Financial Center with calculators and information on topics like banking and credit, estate and retirement planning and taxes.

Consider How to Start Saving There are a variety of ways to save, and it’s important to understand what each one does and requires of you before committing. Working with a financial advisor can help with goal setting and choosing the right savings mechanism that is suitable to your lifestyle and needs. Activities to Get You Saving

Pick 2 of the below activities, or find some on your own, to make saving a priority.

Done! Activity

Collect all loose change in a jar and deposit it into your savings account monthly.

Learn more about university sponsored savings plans and enroll in a voluntary savings plan (403(b) or 457 plan) (http://bit.ly/2AwU7As) at any time.

Create a savings plan for next month, and start saving!

Establish a holiday, travel or birthday savings account.

Set up automatic transfer from your paycheck to a savings account.

Establish an emergency fund that could sustain your living expenses for 3-6 months if needed.

Open an IRA (Roth or Traditional).

Questions to Ask Yourself How much do you need to save? How often do you plan to set aside money? How much access you need to the money? Rate of return? Your desired level of risk?

Prepare for the Unexpected Do you have enough money set aside if something unexpected comes up? What if your washer stopped working or your car gets a flat tire? An emergency fund is something to use for “just in case” moments. A beginner fund would be $500-$1,000, but ultimately setting aside enough for a medical emergency or time off of work (up to 6 months) is recommended.

Small Steps Count If you aren’t already doing so, starting out with these simple tools and finding new ways to save can help. Determine if you could set aside just $25/paycheck, or maybe $5/week into a savings account. The cumulative effect will be savings you can depend upon when you need it.

“Beware of little expenses; a small leak will sink a great ship.” Benjamin Franklin

Week 4: Cool Down By Saving