alex financial wellness 5/28 webinar deck
TRANSCRIPT
Financial Wellness Why is it so dang hard (and how you can make it easier)
presents
Copyright © 2015 The Jellyvision Lab, Inc. All rights reserved. Jellyvision, the Jellyvision logo, and ALEX are registered trademarks of The Jellyvision Lab, Inc.
Hi, I’m Josh
• Head of Sales and Bucket Metaphor Sharer
• Has always loved his bike
and rides it into work these days
• Chooses hard shell tacos over soft shell
I grew up doing chores
Like many of you
at some point, chores become a way to
make money
But then,
buckets upon buckets of pinecones to buy a bike
I collected
proved to be extremely difficult
Saving money
I would save up a few bucks I’d buy a pack of baseball cards
Whenever
Got a job. And began receiving
paychecks. (one not dependent on pinecone bucket quotas)
I grew up
right?
Problem solved,
I got married. And then
Had kids
a whole new level of financial freak-out
And discovered
Is a chore. An adult chore.
But it’s not as simple as picking up pinecones, putting them in a bucket, and
moving on. It’s hard, comes loaded with all kinds of
history, baggage, and challenges.
Managing Money
The thing about life is that it’s unpredictable. We each have our own story.
Everyone of us is unique.
You see…
And we’re each handed our own bucket to fill. Buckets come in all kinds of different shapes
and sizes
Watch this video. Fill out this worksheet.
Go to this seminar. Listen to this guru.
Hey, nice bucket!
Here’s everything you
need to do to fill it…
Why haven’t you filled it
yet?
It’s easy to see why…
72%
of adults report feeling stressed about money at
least some of the time
Source: APA
1 in 4
adults report feeling stressed about money
all of the time
Source: APA
62%
of Americans can’t cover unexpected expenses
Source: APA
$15,950 Average American
household credit card debt in 2012
Source: CreditCards.com
Only 18% of US workers are confident they will be financially
secure in their golden years
Source: http://www.fool.com/retirement/general/2015/01/10/the-typical-american-has-this-much-in-retirement-s.aspx
Financial stress manifests as…
Migraines/headaches Insomnia/sleep trouble High blood pressure
Stomach ulcers Muscle tension/back pain
Severe anxiety Severe depression
Heart attacks
Source: AP-AOL Health Poll: Debt Stress: The Toll Owing Money Takes on the Body
Why is this problem so hard to solve?
Money is emotional…
Hobbits are difficult to change
Hobbits are difficult to change
Habits are difficult to change
Conflicting advice in the media…
People are afraid of looking stupid
To put people on the right path toward financial wellness
Five Communication Tips
Don’t Anchor On The Past
People carry a lot of emotional baggage related to their money
GUILT
FEAR
ANXIETY
UNCERTAINTY
Take baby steps toward the future
Source: : http://charlesduhigg.com/the-power-of-habit/
How do habits form?
Make It Real
Account balance at retirement…
Estimated monthly paycheck at age 71…
$500,000
$1,566
$1,000,000
$3,133
Source: : tsp.gov Retirement Calculator
Emphasize Confidentiality
Let employees access resources at home, where they feel
comfortable
Words Matter
Simple +
Realistic
Confusing financial jargon…
Debt management ! Improving your cash flow
Upside-down mortgage ! Making your
home affordable
Have A Clear Next Step
Keep it simple and leave employees with one or two action
items
Short term goal: Date to achieve: !
Savings per week/month:!
Medium term goal: Date to achieve: !
Savings per week/month:!
Long term goal: Date to achieve: !
Savings per week/month:!
Setting goals…
Any questions?
