Wellbeing at BMW - Fall Edition 2022
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A Simpler Rule for Saving and Spending: 50/15/5
The COVID-19 pandemic caused financial uncertainty for many families. If you got off track, it’s okay – these simple rules for saving and spending can be your first step toward gaining financial stability today and maintaining your lifestyle in retirement. Remember the 50/15/5 rule when planning your budget and deciding where your money goes:
50% - Essential Expenses. These are things you cannot get by without including housing, food, transportation, childcare, and health care. While these may be essential, they can be flexible. One tip for reducing housing costs is to turn the thermostat down a bit in the winter and up in the summer.
15% - Retirement Savings. This is a pretax target and includes any contribution your employer makes. One tip to save for retirement is to increase your savings gradually until you’ve reached your goal. Even 1% annually can make a big difference.
5% - Short-Term Savings. This is a safety net in case you have an unexpected expense that doesn’t qualify as a true emergency. This may be something like a flat tire or a roof repair. One tip to build this without being tempted to spend it is to have this money deducted automatically into a separate savings account from your paycheck.
With your remaining income, you may save and spend as you see fit. This may be used to help pay down high-interest debt or save for other goals such as vacation, college, or a wedding.
Use Fidelity’s Savings & Spending Check-Up tool and see where you stand by clicking here: https://communications.fidelity.com/wi/2015/savingsandspendingcheckup/.
Did you know…
A single blood donation saves up to three lives.
Someone in the U.S. needs blood every 2 seconds.
There is no substitution for blood when you need more.
Approximately 40% of the blood collected goes to cancer patients.
The Blood Connection is the only community blood bank in the Upstate. They supply 100% of blood products needed by Upstate hospitals.
Donating with The Blood Connection saves lives in your immediate community.
Over 800 people in our community need to donate blood each day to supply local hospitals.
More than ever, with ongoing emergency blood shortages, it is important to think about giving back to your community by donating blood. Thanks to our partners at The Blood Connection, Team 10 members can give lifesaving blood without having to leave campus. The last BMW blood drive of the year is Thursday, November 10th! Buses will be parked in Lot A, C, D, and the SOC. As a bonus, The Blood Connection provides incentive items to donors and BMW associates receive 10 wellbeing incentive points when they upload proof of donation to the Wellbeing Portal. Announcements and sign-up links will be posted in the Daily News and on the Wellbeing Portal in the event tab.
Don’t forget!
The deadline to earn 100 wellbeing incentive points to qualify for flex credits in 2023 is December 15th, 2022. Visit the wellbeing portal to learn more and view your point status.
Mark your calendars!
Webinar: Coping with Shift-Work
October 28th at 9:00 AM EST
Click here to register.
Webinar: Secrets to Long Relationships
November 4th at 9:00 AM EST
Click here to register.
BMW Blood Drive *
November 10th at various times.
Locations: Lot A, C, D, and SOC.
Webinar: Emotional Intelligence
November 11th at 9:00 AM EST
Click here to register.
Team Beemer Walking/Running Club
November 19th: Zoom through the Zoo 5k
Mobile Mammography Clinic
November 15th and 22nd in the AFHC parking lot. Schedule your appointment by calling 864-675-4875.
Inform the scheduler you would like to be scheduled at BMW.
Webinar: Goal Setting for Life & Work *
December 9th at 9:00 AM EST
Fidelity Virtual 1:1s
November 16th, 17th, and 18th
December 14th, 15th, and 16th
Click here to register.
*Registration link will be posted on Wellbeing Portal event page and in Daily News as date approaches.
Webinar recordings are shared on the Wellbeing Portal under “General Webinar Participation.”