Tag Archives: financial fitness

Celebrate This FITmas!

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When you think about the holiday season, what comes to mind? Eating way too much and feeling like there’s no time to exercise? Feeling stressed out, maybe because of money issues from holiday purchases? Worrying about how to deal with family without pulling all your hair out? Having a hard time feeling grateful because it seems like there’s just always something that comes up to cause more stress? Okay, hopefully not all of that. But in spite of the great opportunity to reconnect with family and friends and share love, laughs, food, and fun, sometimes, the holidays can be a difficult time with unique challenges to navigate.

That’s where 21 Days of Total Sailor FITmas come in! From December 14, 2017 through January 3, 2018, the Every Sailor, Every Day campaign will have tools, tips and tricks to help you develop and continue to build healthy habits that you can sustain into the New Year and beyond. “Healthy habits” may sound like eating well and doing cardio, but for the 21 Days of Total Sailor FITmas, it’s much more than that. It’s about taking proactive steps that can help you reach your goals related to physical fitness, behavioral health, financial responsibility, psychological and emotional well-being, family relationship strength and spiritual wellness.

We will offer tips on maintaining your physical fitness routine when you’re short on time and space, ways that journaling and gratitude can improve your mood, the positive impacts of mindfulness, links between nutrition and stress levels, how screen time isn’t just something to worry about for toddlers and much more. Practical and helpful action steps will allow you, friends and family members to learn things to incorporate into daily life to improve multiple facets of fitness and get a head start on those New Year’s resolutions!

And, keeping with the holiday theme of connection, the 21 Days of Total Sailor FITmas will include tips from Navy partners in the 21st Century Sailor Office, the Navy & Marine Corps Public Health Center, the Navy Chaplain Corps, as well as Guard Your Health, Real Warriors Campaign and the Human Performance Resource Center.

Unwrap new FITmas tools this season by following Navy Operational Stress Control on Facebook, on Twitter and WordPress. And don’t be a Grinch! Share the resources and tips with your shipmates, friends and family, too!

What are you and your family grateful for this season? Kick off the 21 Days of Total Sailor FITmas by sharing your inspiration through the 1 Small ACT Photo Gallery:

  1. Visit http://go.usa.gov/x8qNu to select and print a 1 Small ACT Sign from the Every Sailor, Every Day campaign webpage. Choose from a seasonal gratitude sign to share what you and/or your family are grateful for, or our Small ACT Selfie sign to share your commitment to be there for yourself or others.
  2. Personalize your sign and take a photo with you and/or your family holding it.
  3. Submit your photo to navysuicideprevention@gmail.com or upload to Facebook and tag @U.S. Navy Operational Stress Control for inclusion in the gallery on Facebook and Flickr.

How a $20 Bar Tab can Turn into a Million Dollars-Worth of Financial Stress

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Imagine you went to close out your bar tab before heading home on a Saturday night and the bartender said, “That’ll be $10,000.” You stare at the bartender, stunned. As he starts to correct his statement, you let out a sigh of relief, assured that there is no way that’s your tab. The bartender continues: “I meant $1 million.”

Research shows that the initial cost of driving under the influence (DUI) can average $10,000 – and that’s just within six months of the incident. That money may be spent on initial fees which include bail, car towing, DUI classes, court-imposed fines, attorney fees, ignition interlock devices and more. But the financial stress doesn’t stop there.

When the fictitious bartender corrects himself to say $1 million, he’s referring to the bigger picture. After receiving a DUI, depending on the state, annual auto insurance rates increase significantly. In California, for example, the average Good Driver insurance discount is $1,307. After receiving a DUI, the same driver might pay up to $4,001 more. That is an annual increase of $2,694, which would likely total tens of thousands of dollars over your lifetime.  And that’s just the tip of the iceberg. Say you’re planning to retire from the Navy as an E-7 at age 39. Your military retirement pension of one-half of your base pay will amount to $996,000 over 40 years. Your commissary and exchange privileges will save you an estimated $52,000 and medical insurance savings will equate to about $61,000 over that time period. That totals a real loss of $1 million over your lifetime if you are separated from the Navy for a DUI.

Knowing the financial burdens – in addition to the health, career and safety risks – would you still drink and drive? Or would you remember how hard you’ve worked to earn your living and your rank? Plan for a safe ride home before you go out for the night—and stick to it. The Keep What You’ve Earned campaign’s Pier Pressure mobile application has the tools you need to drink responsibly, including a blood alcohol content estimator, calorie calculator (which tells you how many pushups it will take to burn off those beers) and one-click access to Uber and Lyft ride-sharing apps. Pier Pressure is available on the Apple App Store and Google Play.

Drink responsibly and keep what you’ve earned. Don’t let a $20 tab turn into a $10,000 (or $1,000,000) budget-buster. Even driving minimally buzzed can increase your risk for a car accident by 46 percent. Know your limit before you get there, don’t try to “keep up” with others and plan in advance for a safe ride home.  You’ve earned it, don’t waste it.

April is both Alcohol Awareness Month and Stress Awareness Month. For more tips on responsible drinking brought to you by Navy Alcohol and Drug Abuse Prevention’s Keep What You’ve Earned campaign, click here. If you think you may be struggling with alcohol, contact your local Drug and Alcohol Program Advisor (DAPA).

References:

Cost of a DUI. (n.d.). Retrieved from http://www2.courtinfo.ca.gov/stopteendui/parents/cost/how-much-does-a-dui-cost.cfm

Devine, R. & Garske, M. (2014, January 16). Study: “Minimally Buzzed” Drivers Often Cause Fatal Crashes. Retrieved from http://www.nbcsandiego.com/news/local/UCSD-Study-Minimally-Buzzed-Drivers-and-Car-Crashes-240673261.html
Marquand, B. (2016, February 3). How Much Does a DUI Cost. Retrieved from https://www.nerdwallet.com/blog/insurance/cost-of-a-dui/

Resolve to Reframe your Money-Mindset for 2017

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2017 is officially underway, as are millions of New Year’s resolutions. According to the University of Scranton, more than one third of resolutions made are money-related[1]. Despite the good intentions, motivation and ambition, 25 percent of all resolutions fail to make it past week one. What’s the deal?

The process of setting goals for the New Year can be a time to reflect on successes and opportunities, motivating positive and meaningful change. But it’s easy to get caught up in feeling obligated to solve all of the issues in our lives in 365 days through a few unrealistic resolutions, which can ultimately contribute to feelings of failure, decreased self-worth and added stress. Coincidentally, these are not things that we typically associate with financial prosperity. When it comes to your financial goals for 2017, focus on making money your ally rather than your adversary. Sure, you may want to double your nest-egg, triple your wealth and eliminate all debt by December 31, 2017 – but are these realistic moves for you? And at what costs do these achievements come with?

Rather than resolving to solve it all, commit to reframing your money-mindset this year through a few small acts to guide your decisions, offered by our financial expert Stacy Livingstone-Hoyte.

  • Regain a sense of control. Perhaps your money-resolution is motivated by the unexpected lack of green in your wallet or accounts post-holidays, which can leave anyone feeling a little blue. Rather than resigning yourself to a hopeless financial outlook, tackle holiday spending with a level-head. Gather up your receipts (paper or emails from online transactions) so that you can not only get an accurate assessment of what you spent, but so that you can ensure that your bank and credit card statements are accurate when they start to populate your inbox. Once you’ve taken this step (and forgiven yourself for any overspending), create or modify your budget for the New Year so that you can reasonably reduce your debt or revive your savings without creating a cycle of debt for the future. Military OneSource, your local Fleet and Family Support Center and militarysaves.org offer budgeting tools to help you balance payments, savings, investments and spending with peace of mind.
  • Define what financial well-being actually means to you. It’s not all about paying the bills and saving for the future. Even the Consumer Financial Protection Bureau includes being “able to make choices that allow for enjoyment of life” in their definition of financial well-being. Achieving all three requires some balance and a long-term perspective, rather than solely focusing your sights on short-term achievements. As you refresh your budget for the New Year, include a discretionary spending allowance for each month accounting for daily necessities such as groceries and gas, as well as a reasonable amount for entertainment (a night out, a family outing, exploring your next overseas port-of-call, etc.). Doing so will help you plan for blind-spots that may throw your budget off track. You deserve to enjoy all that your career has earned you – just be honest with yourself in examining how you do so and
  • Apply some of your holiday spending tricks throughout the year. During the year you’ll likely find yourself scrambling to buy a few gifts for anniversaries, birthdays or celebrations. Set reminders in your phone 30 days in advance of each event so that you have enough time to search and budget for a gift. When determining your gift, keep your focus on the meaning behind your relationship with the person rather than giving them the most expensive thing your remaining discretionary funds will allow. Non-material gifts—perhaps giving a memento from a memorable duty station to a shipmate celebrating advancement—can be more valuable than anything you can swipe a card to purchase. Outside of gift-giving, you can apply a few familiar tips to get your everyday shopping in check as well. Do your research to compare prices, read online reviews and search coupon deals. Don’t forget to make a list and check it twice whenever you head to the store so that you’re not going in for a roll of paper towel and leaving with a new flat screen television!

If you’ve found that by the end of years passed you’re measuring success by how closely you’ve achieved your financial resolutions, it’s time to take a new approach. Start this year with a little gratitude and a positive outlook by committing to “progress rather than perfection” as your 2017 mantra.

[1] New Year’s Resolution Statistics. (n.d.). University of Scranton Journal of Clinical Psychology. Retrieved December 11, 2016, from http://www.statisticbrain.com/new-years-resolution-statistics/

FITmastime is Here!

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The Every Sailor, Every Day campaign’s 21 Days of Total Sailor FITmas are back just in time for the 2016 holiday season! From now through January 3, 2017 we’ll offer a daily dose of tips, tricks and small acts to keep the happy in the holidays and build resilience into the New Year. Whether you anticipate the holidays or dread them, the 21 Days of Total Sailor FITmas can help you unwrap new tools to strengthen fitness from the inside out, with a seasonal spin to bring you comfort and joy no matter what challenges you may face.

Each day will focus on navigating holiday stress related to a particular area of Total Sailor Fitness, including physical, psychological, family, behavioral, financial and spiritual fitness.  We’ll address navigating deployments and family separations, simple ways to keep up with your physical training and nutrition to avoid seasonal weight gain (and guilt), facing the stress of attending large gatherings, self-care, connecting with spirituality and more. This 21 day journey represents the 21st Century Sailor Office’s comprehensive programs to help Sailors and families make healthy decisions all year long.

And because the holiday season is about connecting with others, we’ve partnered with our fellow 21st Century Sailor programs, U.S. Navy social media, the Navy Chaplain Corps, Real Warriors Campaign, Guard Your Health, Navy & Marine Corps Public Health Center, and the Human Performance Resource Center to bring you the best tips of the season.

To celebrate the 21 Days of Total Sailor FITmas with us, like us on Facebook (www.facebook.com/navstress), follow us on Twitter (www.twitter.com/navstress) and stay tuned right here on NavyNavStress. Tis the season of giving, so don’t forget to encourage those on your gift list to tune in as well. You’ll also find additional tips on our partners’ social media channels.

Looking to start FITmas off right? Spread holiday cheer by contributing to the 1 Small ACT Photo Gallery in three easy steps:

  1. Visit http://go.usa.gov/x8qNu to select and print a 1 Small ACT Sign from the Every Sailor, Every Day campaign webpage. Choose from a seasonal gratitude sign to share what you and/or your family are grateful for, or our 1 Small ACT sign to share your commitment to be there for yourself or others.
  2. Personalize your sign and take a photo with you and/or your family holding it.
  3. Submit your photo to navysuicideprevention@gmail.com or upload to Facebook and tag @U.S. Navy Operational Stress Control for inclusion in the gallery on Facebook and Flickr.

What’s on your FITmas list? Join us as we help you, your shipmates and your family find simple ways to stay present this season.

For more information, visit the Every Sailor, Every Day webpage.

Money Goals for Your 30s: Wise Up!

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Money woes can lead to stress in other areas of life, not just your wallet. In the second installment of a three-part series on financial fitness during various ages and stages of one’s Navy career, guest blogger Stacy Livingstone-Hoyte, AFC, provides Sailors in their 30s with a few self-care tips to get a head start on achieving financial freedom. –NavyNavStress Note

With each passing decade of our lives comes the realization that the future will happen, our older and wiser selves become more of a reality, naiveté is shed (to some degree) and we are more acquainted with life’s responsibilities, obstacles and opportunities ahead. As you developed a sense of financial freedom in your twenties, you may have done things to secure your future such as setting up an emergency fund, automating deposits for your monthly savings and thinking twice before making purchases. Your thirties are a prime time to build upon that foundation now that you’re more established in your career and have a better sense of your personal, professional and family goals. Like in your twenties, keeping an eye on the future is vital so that you’re not jumping into life-changing financial commitments, living outside of your means or piddling away the progress you’ve achieved so far.

Here are a few tips to help on the road to financial wellness:

  1. Stick to your savings. Whether you built a cushion in your twenties or are just now getting around to it, consistent saving is one of your biggest wealth-building allies. Allocate and do your best to stick to saving ten to fifteen percent of your earnings for both short and long term goals such as retirement and/or transition from military to civilian life, major purchases, emergency savings, moving expenses, etc. Rather than saving whatever you have left over at the end of the month, pay yourself first to stay on track. P.S. – if you haven’t yet developed a budget so that you have a better roadmap for spending, debt reduction and saving, it’s time to get on it! Check out budgeting resources from Military OneSource here.
  2. Avoid the wealth effect. Making more money from bonuses, tenure or advancement does not mean that you should spend more. Challenge yourself to live on your previous take-home pay to reap the benefits of additional savings in order to meet your goals. Be wary of the temptation to “keep up with the Joneses” by impulsively using new money to reward yourself with luxuries. Having a financial plan for any new money can help you fund your next steps wisely rather than blowing through your gains without anything to show for them (besides a new tech gadget). If purchasing a bigger or newer car or home, or funding a vacation is a goal that you’re working toward, include savings for these milestones into your new money plan. You may also opt for using new money to increase your emergency fund, long-term savings or pay down debt.
  3. Prepare for transition. Many military members start a second career in their thirties—or are preparing to in their early forties—and must face new financial realities in terms of pay and benefits. Familiarize yourself with the new Blended Retirement System, which takes effect in 2018 and offers the option of a monthly annuity or lump sum plus reduced monthly annuity pay. Check out these infographics for a quick overview of the new system for active component and reserve component Keeping your transition from service in mind when making money decisions can help you stay ahead of stress down the line. Even making modest adjustments to your lifestyle—such as cutting back on buying lunch or making more meaningful strides to quit smoking (to benefit your health and wallet)—can help you pad your savings in the event that you don’t immediately re-enter the workforce.

While you may have been more of a risk-taker in the past, now that you’re a little wiser with a few more years under your belt, take a close look at your assets to ensure that your security isn’t on the line. Checking your credit report regularly through annualcreditreport.com (the only authorized website for free credit reports), reviewing your insurance coverage so that you can adjust based on your needs and find the best rates, and exploring ways to diversify your investments are wise money moves for this chapter in life. As always, continue to consult with your local Fleet and Family Support Center, Command Financial Specialist, Military OneSource personal financial counselors and local installation resources for specific guidance when you need it. For more tips, check out the resources below: