Welcome!
Hello Common Cents Participants!
When it comes to financial wellness, there are few quick fixes. Taking the long view will pay dividends down the road and help you minimize the stress that often results when your financial house is not in order. Ultimately this enhances your overall health and well-being and improves life satisfaction. You are to be congratulated for taking the first step toward a healthier financial future by participating in the Common Cents challenge. Before starting, please take some time to review the challenge information and materials. Everything that you need to successfully complete Common Cents is included.
Daily Activities
This wellness challenge aims to inspire you to make healthy choices in regards to your finances. These activities include anything that saves you money you would have spent prior to the challenge. For example: Skipping that morning latte can save as much as $5 per day. Walking or biking to work can prevent that weekly $40 gas tank fill up. Maintaining a garden can provide you with $25 in fresh produce each week.
These are only examples. You can record ANYTHING that helps you avoid a cost that has become regular in your life.
Weekly Worksheets
There are four weekly worksheets for you to complete. You can complete these all at once or one week at a time—it is up to you. You will record completion on your Common Cents Ledger and keep the forms to form your Personal Financial Plan. These worksheets are below.
Getting Started
Below is your Common Cents Ledger. Record completion of daily and weekly activities. You will complete these and keep them for your records. Your goal is to score 3,000 points by the end of the challenge. There is no requirement of completion, but rather the satisfaction and peace of mind knowing you've taken an important step toward financial wellness.
If you are looking for an additional resource, you can utilize the Principal Milestones program available to our US-based employees. This program will work within your personal Principal account, and can be the basis for creating your personal financial plan accompanying the Common Cents program. You can learn more about the Principal Milestones program here.
Good luck, and good Cents!
Week 1
Zeroing In
Is it the daily latte? Or maybe it’s lunch at a different restaurant each day. Whatever it is, it’s time to put strategies in place to make daily savings a priority. As you begin the Common Cents challenge pay extra close attention to where you are spending your money and look for quick ways to save a few cents here and a few dollars there. There is a good chance you’ll be surprised at how much you can save in a day, week and month by making a few simple changes!
You can also create and visit your ComPsych account to find more resources on increasing your financial wellness.
Is it the daily latte? Or maybe it’s lunch at a different restaurant each day. Whatever it is, it’s time to put strategies in place to make daily savings a priority. As you begin the Common Cents challenge pay extra close attention to where you are spending your money and look for quick ways to save a few cents here and a few dollars there. There is a good chance you’ll be surprised at how much you can save in a day, week and month by making a few simple changes!
You can also create and visit your ComPsych account to find more resources on increasing your financial wellness.
Week 2 - Looking ahead
Have you begun planning for retirement? If not, there is no better time than now. Reach out to your Human Resources department to learn more about what retirement plans your organization offers. It is also a great time to ask friends and family about who they trust to assist them with financial planning. If you are already on the road to saving for retirement, use the Common Cents challenge as a reminder to give your financial planner a call to get an update on how your portfolio is performing and to ensure you are still on track with your financial goals. Also keep in mind that Curtis Ishler also coordinates with Restek to hold retirement planning meetings with US employees. You can also reference your Principal account for more resources.
Don't wait, start planning now!
Don't wait, start planning now!
Week 3 - Is your identity safe?
Even with the most diligent financial plans in place, we can face a major setback if our identity gets stolen. Our social security number, credit card account information, or bank account data in the wrong hands could result in disaster.
It’s a good idea to familiarize yourself with the many avenues thieves use to obtain personal information and then take steps to minimize your risks. Strategies as simple as shredding appropriate documents before disposing of them and storing all important documents in a safe, secure location can reduce your risk of becoming a victim of identity theft. For our US-based employees, Highmark also provides eligible plan members a program to utilize in helping ensure "You're Protected."
Check out the Federal Trade Commission website at www.ftc.gov for more information on how to prevent identity theft and what to do if you become a victim, or research what your area of the globe’s equivalent might be.
It’s a good idea to familiarize yourself with the many avenues thieves use to obtain personal information and then take steps to minimize your risks. Strategies as simple as shredding appropriate documents before disposing of them and storing all important documents in a safe, secure location can reduce your risk of becoming a victim of identity theft. For our US-based employees, Highmark also provides eligible plan members a program to utilize in helping ensure "You're Protected."
Check out the Federal Trade Commission website at www.ftc.gov for more information on how to prevent identity theft and what to do if you become a victim, or research what your area of the globe’s equivalent might be.
Week 4- Way to Go!
As we work through the final week of the Common Cents challenge, you are to be commended for putting financial health in the forefront. As you close out the challenge give some thought to how you felt before you started the challenge and how you feel now. Do you have a better handle on your finances? Do you feel better physically? Emotionally? What is it going to take to keep your progress going?
Signing up for the challenge was a big step in the right direction... your goal now should be to keep it going!
If you are still looking for additional resources on how to enhance your financial wellness, ComPsych, Restek's EAP provider, offers a number of different resources at your fingertips for our US employees. You can visit guidanceresources.com to set up your account, and continue your path toward financial well-being.
Signing up for the challenge was a big step in the right direction... your goal now should be to keep it going!
If you are still looking for additional resources on how to enhance your financial wellness, ComPsych, Restek's EAP provider, offers a number of different resources at your fingertips for our US employees. You can visit guidanceresources.com to set up your account, and continue your path toward financial well-being.
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