Make 2010 the Year for Financial Success

Employees’ money worries can be a big distraction on the job—and the holidays tend to stir up financial stress.

To help make 2010 the year for strengthening “fiscal fitness,” ask employees to consider these items below:

Are you a penny-pincher?

Or do you fall into these money traps?

• Buying a new car every three to four years
• Buying sale items you don’t need
• Buying designer-label products
• Dining in upscale restaurants
• Investing in something you don’t fully understand
• Using credit card loans or advances
• Purchasing expensive gifts
• Keeping money in low-interest savings accounts
• Shopping frequently via TV or the Internet
• Spending money on lotteries
• Spending vested pension benefits when you change jobs, rather than rolling them into an IRA

Once your employees recognize some of these budget-busting habits, they can work on using smarter strategies.

Here are some simple ways to save:

• Avoid sales or Web sites that will tempt employees to spend money they don’t have.
• Implement a “no buy” week or month and only purchase necessities like vegetables/whole grain bread, medication, and gas for the car.
• Cut back on dining out in favor of eating more affordable and nutritious meals at home.
• Use cash rather than credit when possible. It is a proven fact that people spend less when cash is exchanged in the transaction.

Additionally, a publication like TopDollar can help employees keep more of what they earn and earn more on what they save.

It’s like giving them a raise…only cheaper!