Spring 2011, Week 2

Sunday, April 17, 2011

Health: People often think of healthy eating as an all or nothing proposition, but a key foundation for any healthy diet is moderation.
Wealth: Avoid bank overdraft fees by keeping track of your spending. The money you save by not bouncing checks or overdrawing your account and paying a fee can help fund your emergency savings account.

Health: Despite what certain fad diets would have you believe, we all need a balance of carbohydrates, protein, fat, fiber, vitamins, and minerals to sustain a healthy body.
Wealth: Are you an impulse shopper? Avoid purchasing expensive items on impulse. Instead, think over each expensive purchase for at least 24 hours. Acting on this principle will help you have far fewer regrets about impulse purchases and far more money for emergency savings.

Health: Try not to think of certain foods as “off limits.” When you ban certain foods or food groups, it is natural to want those foods more and then feel like a failure if you give in to temptation.
Wealth: Indulgences can put a dent in your finances. One way to establish a savings discipline is to “save” an amount equal to whatever is spent on nonessentials. Put a matching amount in a cookie jar each time you splurge on beer, wine, cigarettes, lottery tickets, junk food, designer coffee, etc. If you can’t afford to save the matching amount, you can’t afford the $4 super mocha low-fat latte.

Health: If you are drawn towards sweet, salty, or unhealthy foods, start by reducing portion sizes and not eating them as often. Later you may find yourself craving them less or thinking of them as only occasional indulgences.
Wealth: Make a list before you grocery shop—and stick to it. People who food shop with a list, and buy little else, spend much less money than those who decide what to buy when they get to the supermarket. The annual savings could easily be hundreds, even thousands, of dollars.

Health: sizes have ballooned recently, particularly in restaurants. When dining out, choose a starter instead of an entrée, split a dish with a friend, and don’t order supersized anything.
Wealth: Want to double your money? Divide the interest rate earned on your savings into 72 to determine how long it will take. For example, with a 4% average annual return, $1,000 will double to $2,000 in 18 years. For more information about saving and investing topics, see http://bit.ly/fWpOBu.

Health: At home, use smaller plates, think about serving sizes in realistic terms, and start small. Visual cues can help with portion sizes—servings of meat, fish, or chicken should be the size of a deck of cards.
Wealth: Many workers turn down “free” money from their employer by not signing up for retirement savings programs such as a 401(k) plan. If they participate, with a 50% match, they would likely receive an annual yield of greater than 50% on their investment. Now, that’s a great return on your money!

Health: Think small portions. A teaspoon of oil or salad dressing is about the size of a matchbook and your slice of bread should be the size of a CD case.
Wealth: The best investment most borrowers can make is to pay off consumer debt with double-digit interest. For example, if you have a $3,000 credit card balance at 18%, and pay 3% minimum payments, it will take 14 years to pay it off. Add in accumulating interest, and you will pay $5,625 in interest charges!