Don’t ignore your financial health

By Josh Mandel

Special to The Vindicator

Financial health, like our physical health, plays a significant role in our day-to-day lives. Financial difficulties can have a negative impact not only on our personal finances, but also on those close to us, including our family, friends, colleagues, and employer. In these tough economic times, now more than ever, financial education is important.

The Ohio Treasurer’s Smart Money Choices free financial-planning conference is coming to the Youngstown area on Aug. 26. This seminar is designed to empower attendees with tools to take control of their personal finances so they can better plan for a successful future.

On the path to financial wellness it is important to assess your current financial conditions, create short-term and long-term goals, take preventative steps to avoid unnecessary financial pitfalls, and prepare for unexpected expenses. The Smart Money Choices conference series is designed to help Ohioans achieve these goals.

Free conference

This free financial-planning conference features financial planning experts discussing issues that are relevant to all Ohioan’s financial situations. Courses offered include Budgeting, Credit and Debt Management, Investments, Kids & Money, Retirement Planning and Social Security. By advocating financial health for Ohio’s workforce through financial education, we are strengthening our businesses and thereby our communities and economy.

Studies have proven why empowering people with financial education is so important:

Research demonstrates that financial distress contributes to absenteeism, work-time distraction, and dissatisfaction with pay in the workplace. Studies also show job productivity has been proven to be higher among workers who considered themselves financially stable.

A 1998-2005 study found that of the 62 million wage and salaried women age 21-64 working in the U.S., just 45 percent participated in a retirement plan.

Less than half of teens report that they discuss money management with their family, and a similar amount say they don’t know how to manage a credit card.

Financial education

Regardless of the participant’s financial condition, Smart Money Choices will provide Ohioans with a vital financial health “check-up” and help develop a financial plan based on their personal situation. Financial planning experts will be on-hand to answer personal finance questions. We welcome everyone to this conference and encourage Ohioans to tell friends and family about this opportunity.

The Aug, 26 Smart Money Choices conference will be held at the Holiday Inn Conference Center in Boardman. For more information or to pre-register, visit www.OhioTreasurer.gov or call 1-800-228-1102, option 1.

Mandel is Ohio state treasurer.