Financial Peace at Work

1
Financial Peace at Work

• Presented to
• Lunch and Learn Participants
• April 27, 2006
• Presented by
• Alison H. Alton, MA, PHR

2
The Purpose for Today

• To draw the connection between
• the financial fitness/wellness
• of employees
• and
• the success and productivity
• of workers, families and the organization

3
Not Just a Problem Anymore!

• America is in the middle of financial crisis
• 49-52 of marriages end in divorce
• Of couples divorced in the first 7 years, 90
  listed financial problems as their 1 reason
• According to AIG, 95 of Americans expect to work
  past age 60
• AARP says that 40 of those over age 60 live in
  poverty

4
Not a Pretty Picture

• 70 of all consumers live from paycheck to
  paycheck
• Average family income 41,000 average consumer
  debt 38,000
• On average, Americans saved -2.2 last year
• The Good News
• On average, participants reduce debt and/or save
  in the amount of 8,000 just during the 13-week
  program

5
Who Is Dave Ramsey?

• Nationally syndicated radio talk-show host in
  over 250 radio markets
• Authored 3 New York Times best sellers
• Financial Peace
• More Than Enough
• Total Money Makeover
• Featured on 60 Minutes, Oprah and Good Morning
  America, among others

6
His Hope

• A 30-year old couple making 40,000 with no debt
  saves 15 in a 401(k) program (500/month or
  6,000/year)
• At age 70, they will have 5,882,386
• We manage our money rather than letting it
  manage us!

7
Top Workplace Issues

• I need more money
• Payroll advances
• Collection calls
• Absenteeism
• 401(k) loans
• Turnover
• The 1 cause of stress in the workplace is
  personal financial stress

8
The Result

• Workers waste up to 20 hours per month of company
  time thinking about and dealing with personal
  finances
• (Thomas Garman, Ph.D. Virginia Tech)
• Cost per employee at UTMB (conservatively)
• 5 hours/month x 27/hour x 12 months 1,620

9
Promoting Behavior Modification

• Super Savers
• Cash Flow Planning
• Buying Big Bargains
• Relating With Money
• Dumping Debt
• Investments
• Insurance
• Retirement and College Planning

• Buyer Beware
• Real Estate and Mortgages
• Careers/Extra Jobs
• Collection Practices and Credit Bureaus
• The Great Misunderstanding

10
Membership Benefits

• Lifetime membership allows for continued
  community participation (for the employee, spouse
  and teenage/adult children)

11
Business Benefits

• Less stress
• More focused employees
• More productive employees
• More bottom line
• Reduced cost
• More freedom

Best Places to Work
12
Employee Benefits

• Sense of peace
• Hope for the future

13
Investing in People

• How would you like to receive an 8,000 bonus
  this year and impact your life forever?

14
Closing

• Thank You!
• Contact Information
• Alison Alton
• ahalton_at_utmb.edu
• 747-6632