AngularJS health - AngularJS Updated: 2023
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Financial AngularJS health
Other Financial examsAFE Accredited Financial Examiner (AFE)
AVA Accredited Valuation Analyst
CABM Certified Associate Business Manager
CBM Certified Business Manager (APBM CBM)
CCM Certified Case Manager (CCM)
CFE Certified Financial Examiner (CFE)
CFP Certified Financial Planner (CFP Level 1)
CGAP Certified Government Auditing Professional (IIA-CGAP)
CGFM Certified Government Financial Manager (CGFM)
CHFP Certified Healthcare Financial Professional (CHFP) - 2023
CIA-I Certified Internal Auditor (CIA)
CIA-II Certified Internal Auditor (CIA)
CIA-III The Certified Internal Auditor Part 3
CIA-IV The Certified Internal Auditor Part 4
CITP Certified Information Technology Professional (CITP)
CMA Certified Management Accountant (CMA)
CMAA Certified Merger and Acquisition Advisor (CM and AA)
CPCM Certified Professional Contracts Manager (CPCM) 2023
CPEA Certified Professional Environmental Auditor (CPEA)
CPFO Certified Public Finance Officer (Governmental Accounting, Auditing, and Financial Reporting)
CRFA Certified Forensic Accountant (CRFA)
CTFA Certified Trust and Financial Advisor (CTFA)
CVA Certified Valuation Analyst (CVA)
FINRA FINRA Administered Qualification Examination
CEMAP-1 Certificate in Mortgage Advice and Practice (CeMAP)
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Section 1: Sec One (1 to 50)
Details:This section provides a huge collection of Angularjs Interview Questions with their
answers hidden in a box to challenge you to have a go at them before discovering the correct
What is AngularJS?
AngularJS is a framework to build large scale and high performance web application while
keeping them as easy-to-maintain. Following are the features of AngularJS framework.
clean MVC (Model View Controller) way.
Application written in AngularJS is cross-browser compliant. AngularJS automatically handles
AngularJS is open source, completely free, and used by thousands of developers around the
world. It is licensed under the Apache License version 2.0.
What is data binding in AngularJS?
Data binding is the automatic synchronization of data between model and view components. ng
model directive is used in data binding.
What is scope in AngularJS?
Scopes are objects that refer to the model. They act as glue between controller and view.
What are the controllers in AngularJS?
actors in AngularJS framework and carry functions to operate on data and decide which view is
to be updated to show the updated model based data.
What are the services in AngularJS?
AngularJS come with several built-in services. For example $http service is used to make
XMLHttpRequests (Ajax calls). Services are singleton objects which are instantiated only once
What are the filters in AngularJS?
Filters select a subset of items from an array and return a new array. Filters are used to show
filtered items from a list of items based on defined criteria.
Explain directives in AngularJS.
Directives are markers on DOM elements (such as elements, attributes, css, and more). These
can be used to create custom HTML tags that serve as new, custom widgets. AngularJS has built-
in directives (ng-bind, ng-model, etc) to perform most of the task that developers have to do.
Explain templates in AngularJS.
Templates are the rendered view with information from the controller and model. These can be a
single file (like index.html) or multiple views in one page using "partials".
What is routing in AngularJS?
It is concept of switching views. AngularJS based controller decides which view to render based
on the business logic.
What is deep linking in AngularJS?
Deep linking allows you to encode the state of application in the URL so that it can be
bookmarked. The application can then be restored from the URL to the same state.
What are the advantages of AngularJS?
Following are the advantages of AngularJS.
AngularJS provides capability to create Single Page Application in a very clean and maintainable
AngularJS provides data binding capability to HTML thus giving user a rich and responsive
AngularJS code is unit testable.
AngularJS uses dependency injection and make use of separation of concerns.
AngularJS provides reusable components.
With AngularJS, developer writes less code and gets more functionality.
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The connection between financial health and personal health are more connected than you may think. Weâ€™ve all probably experienced some sort of stress in our lives at one point or another, but did you know -- according to Forbes -- that stress resulting from financial challenges is often chronic?
Worries about finances came in as the number-one stressor across all age groups, according to the 2018 Everyday Health United States of Stress survey. And, 2019 was no different. A 2019 Bankrate survey showed that more than half of Americans lose sleep over money troubles. According to the Bankrate survey,Â money worries are the biggest cause of sleep loss, and itâ€™s getting worse. Seventy-eight percent of U.S. adults are losing sleep worrying about everyday expenses, saving for retirement and healthcare costs.Â Add in those unexpected expenses and wanting to save for a vacation or new house, and the amount of stress felt can reach a dangerous level.
High levels of financial stress manifest through physical symptoms like sleep loss, anxiety, headaches/migraines, compromised immune systems, digestive issues, high blood pressure, muscle tension, heart arrhythmia, depression and a feeling of being overwhelmed.
It's a vicious cycle where one causes an overflow of other issues that in turn result in even more problems. Individuals with high financial stress are twice as likely to report poor health overall and are four times more likely to complain of ailments, according to Forbes.
â€śThe increased medical expenses that present themselves, as a result, then worsen money challenges,â€ť explained Nancy Cook, employee assistance counselor at the CHL. â€śWhich then, of course, increases their financial stress level. Those caught in this ever-revolving loop of monetary worries and physical and mental issues are in dire need of a support system to help them navigate through and hopefully break the cycle, or at least find a slight detour off of its path.â€ť
Financial stress and unhealthy coping behaviors
Â â€śFinancial stress is a very unique and difficult type of stress,â€ť added Cook. â€śFinancial stress can and does lead to individuals adopting unhealthy coping mechanisms; examples would be overeating, smoking and using alcohol/ recreational drugs. As you can imagine, those behaviors then lead to even more money-related stress and negative effects on the body and mind. Since mental and physical health can directly benefit from healthy finances, why not try to incorporate some steps to help Strengthen our financial well-being?â€ť
Cookâ€™s initial steps to Strengthen financial health include:
To schedule an appointment, call the CHL at 765-494-0111 or schedule via the portal. The CHL is open for medical appointments 7 a.m. to 6:30 p.m. Monday through Thursday and 7 a.m. to 5 p.m. Friday. Telephonic wellness offerings from the health coaches and pharmacists are available. Regional employees should contact their campus human resource office for campus-specific resources.
Also, take a look at the â€śSmart Healthcareâ€ť web page and see the â€śFinancial Wellness Monthâ€ť article in this newsletter for additional resources. Information on all of these benefits can be found on the Benefits website.
Contact the Human Resources office at your campus for any benefits-related questions you may have.
"Financial literacy" is a widely used term that refers to the skills and knowledge you use to make financial decisions. But it sometimes suggests poverty and other money crises stem solely from a lack of knowledge â€” an assumption the ignores the complexities of life.
Think instead in terms of "financial health," which measures your ability to handle financial stressors and reach your long-term goals.
You can Strengthen your financial health with a series of actionable steps that build stability over time. Use the eight-question quiz below, which leverages the Financial Health Network FinHealth ScoreÂ® Toolkit, to understand your starting point. Then read on to discover the next steps for leveling up to greater security.
How to Strengthen your financial health
For most people, attaining financial health is a journey.Â Your journey may begin in crisis â€” during a period of unemployment or low wages, for example â€” or you may be in a good-paying job with benefits and ready to save for your childrenâ€™s college fund or maximize your retirement savings.
Your score in the financial well-being assessment above gives you an idea of where you are.Â The three sections below expand to provide helpful guidance. Start with the one tailored to your score, but also feel free to check out the next section to how your journey will continue.
If youâ€™re financially vulnerable (0-39 points)
"Financially vulnerable" means you likely have a hard time keeping up with your bills and may be unable to save for the future. A surprise bill such as a car repair or doctorâ€™s visit can spell disaster when youâ€™re in this position â€” you donâ€™t have a financial cushion and might not have access to low interest loans or credit when you need to cover an unexpected expense.
Here are some resources that may help you in a crisis and lay the groundwork for greater financial security.
Help in a financial crisis
Learning the basics of personal finance
If youâ€™re financially coping (40-79 points)
As someone who is financially coping, you may be thriving in some areas but struggling in others. Perhaps you are buried by debt but manage to make all of your minimum payments on time, or you manage your debt well but arenâ€™t saving for retirement. Like the financially vulnerable, an unexpected expense could destabilize you.
More than other groups, you may find helpful resources in all categories, but here are some to help address possible financial pain points and shore up your security.
Building and maintaining your credit score
Saving for and buying a home
Saving for financial goals
If youâ€™re financially healthy (80-100 points)
Financially healthy folks are successfully managing all aspects of their financial life. They have good to excellent credit, a handle on debt, an emergency savings fund and are on the right track for retirement. The goal for you, if you fall in this category, is staying the course and reaching your financial goals.
Here are some resources to maximize your efforts and ensure youâ€™re getting the most out of the optimal position youâ€™re in.
Financial health maintenance
Saving and investing for retirement
10. Take a rest
Much like working out physically, even your financial health needs a break. You certainly donâ€™t want to neglect it, but donâ€™t beat yourself up too badly if you are a slow starter or need a little extra help. That is what we are here for, to take some of the onus off of you and also to keep you encouraged so we can accomplish these goals together. Also, all work and no play makes Jack a dull boy.
In other words, you donâ€™t need a six-pack and chiseled biceps here. Sometimes good enough is OK. Thus, although this is serious stuff, youâ€™ll have that proverbial doughnut, youâ€™ll skip a workout, and sometimes you simply need a break. Iâ€™m here to tell you that is fine and dandy. As long as you have a steady pulse on the above, you can certainly afford to take a break.
It is amazing the difference I see in people once they have a pulse on their financial health. Theyâ€™re as different as night and day.
One note of warning before I let you go: If you are taking on newfound ownership of your finances, please donâ€™t get discouraged or anxious. Markets, cash and finances are not a straight line. They will ebb and flow on a month-by-month basis. Donâ€™t let this discourage you, and donâ€™t overreact to it. Keep up with your workouts!
Diversified, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the SEC. A copy of Diversifiedâ€™s current written disclosure brochure which discusses, among other things, the firmâ€™s business practices, services and fees, is available through the SECâ€™s website at: www.adviserinfo.sec.gov. Investments in securities involve risk, including the possible loss of principal. The information on this website is not a recommendation nor an offer to sell (or solicitation of an offer to buy) securities in the United States or in any other jurisdiction.
This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.
Tampa (BLOOM) â€“ Have you ever felt stressed about money? Have you struggled to make ends meet or thinking about unexpected expenses?
If so, youâ€™re not alone. Financial stress is a common problem that can affect your overall well-being. The good news is that there are simple steps you can take to Strengthen your financial health. In this article, weâ€™ll outline five simple steps that can help you take control of your finances and reduce financial stress.
Step 1: Create a Budget
Creating a budget is the foundation of good financial health. It helps you understand where your money is going and where you can cut back. A budget is simply a plan for how you will spend your money each month. Here are some tips for creating a budget:
To create a budget, youâ€™ll need to start by tracking your expenses. This can be done manually with a pen and paper or using a budgeting app like Mint or YNAB. Once you know where your money is going, you can create a plan for how to allocate your income. Your budget should include all of your regular expenses, such as rent/mortgage, utilities, groceries, and transportation, as well as any savings goals, like retirement or a down payment on a house.
Remember, the key to a successful budget is to stick to it. Make sure to review your budget regularly and adjust it as needed.
Step 2: Build an Emergency Fund
An emergency fund is money set aside for unexpected expenses such as a car repair, medical bill, or job loss. Having an emergency fund can help you avoid debt and reduce financial stress. Here are some tips for building an emergency fund:
An emergency fund is a savings account that is specifically set aside for unexpected expenses, like car repairs or medical bills. Aim to save enough to cover at least three to six monthsâ€™ worth of expenses. Start by setting a small goal, like saving $500, and work your way up from there. Consider setting up an automatic transfer from your checking account to your emergency fund each month to make saving easier.
Remember, the goal of an emergency fund is to provide a cushion for unexpected expenses. Try not to use it for non-emergency expenses.
Step 3: Pay off Debt
Debt can be a major source of financial stress. Paying off debt can help you reduce stress and Strengthen your financial health. Here are some tips for paying off debt:
If you have debt, focus on paying it off as quickly as possible. Start by making a list of all of your debts, including the balance and interest rate. Consider using the debt snowball or debt avalanche method to prioritize which debts to pay off first. The debt snowball method involves paying off the smallest debt first, while the debt avalanche method involves paying off the debt with the highest interest rate first. Whichever method you choose, aim to make more than the minimum payment each month to make faster progress.
Remember, paying off debt takes time and discipline. Stay focused on your goal and celebrate your progress along the way.
Step 4: Invest for the Future
Investing is an important part of building long-term financial health. It can help you build wealth and achieve your financial goals. Here are some tips for investing:
Saving for the future is important for achieving long-term financial health. Consider setting up a retirement account, like a 401(k) or IRA, and contributing as much as you can afford. If you have kids, consider setting up a 529 plan to save for their education expenses. Finally, consider investing any additional savings in a diversified portfolio to help your money grow over time.
Remember, investing involves risk. Make sure to do your research and seek professional advice before investing.
Step 5: Monitor Your Credit Score and Report
Your credit score is a crucial part of your financial health. It affects your ability to borrow money and the interest rates youâ€™ll pay on loans and credit cards. Here are some tips for monitoring and improving your credit score:
Remember, improving your credit score takes time and patience. Stay focused on good credit habits and youâ€™ll see improvement over time.
Your credit score is a measure of your creditworthiness and can affect your ability to borrow money and the interest rates youâ€™ll pay on loans and credit cards. To Strengthen your credit score, start by checking your credit report for errors and disputing any inaccuracies. Pay your bills on time, keep your credit utilization low (aim for below 30%), and avoid opening too many new accounts.
Here are some tips for staying motivated as you work towards improving your financial health:
Remember that building good financial habits takes time and effort, and setbacks are normal. If you have a setback, donâ€™t provide up â€“ instead, use it as an opportunity to learn and adjust your strategy as needed. With patience and persistence, you can achieve your financial goals and Strengthen your overall financial health.
Dealing with Financial Stress
Financial stress can have a significant psychological impact on individuals and their overall well-being.
Here are some of the ways that financial stress can affect us:
Itâ€™s important to recognize the impact that financial stress can have on our mental and physical health. Seeking help from a therapist or financial counselor can be a good way to manage financial stress and Strengthen overall well-being. Additionally, taking steps to Strengthen your financial health, like creating a budget and building an emergency fund, can help alleviate financial stress and Strengthen your overall quality of life.
Improving your financial health is a process that takes time and effort, but the benefits are worth it. By following these five simple steps, you can take control of your finances, reduce stress, and Strengthen your overall well-being. Remember to start small and stay focused on your goals. With persistence and determination, you can achieve financial freedom and peace of mind.
A UnitedHealth Group division has offered about $3.26 billion to acquire Louisiana-based Amedisys Inc., a provider of home care and hospice services that agreed last month to be sold to a different acquirer.
For Minnesota-based UnitedHealth, it would be the second latest deal in the home care market; Optum, the company's health services unit, announced last year a $5.4 billion deal to acquire LHC Group, also based in Louisiana.
Baton Rouge-based Amedisys Inc. on May 3 entered into a merger agreement with Illinois-based Option Care Health. On Monday, the home care provider told investors the unsolicited offer from Optum "could reasonably be expected" to result in a superior proposal.
"As permitted by the terms of Amedisys' merger agreement with Option Care Health, Amedisys entered into a confidentiality agreement with Optum on May 30, 2023, and is currently engaging in exploratory discussions with Optum," the company said in a news release. "Amedisys remains bound by the terms of the merger agreement with Option Care Health, and Amedisys' Board has not determined that Optum's proposal constitutes a Superior Proposal as defined in the merger agreement."
On Monday, Option Care Health said in a statement that the previously-announced deal "delivers significant value to Amedisys and Option Care Health stockholders [and] a high degree of certainty in obtaining the required regulatory approvals."
Thousands of organizations across the country provide health care services in patient homes, which means no one provider has more than a single-digit percentage share, UnitedHealth said in a news release.
"Optum is confident it can secure approval for the combination," the company said in a statement. "Even with the numerous providers, demand for in-home care far exceeds available supply, creating the need for substantial investment in the sector to more fully serve patients."
UnitedHealth Group said its offer of $100 per share in the all-cash transaction would provide a 26% premium over the most latest closing share price for Amedisys.
In the first quarter, Amedisys posted net service revenue of $556.4 million, according to an earnings release in May.
UnitedHealth Group reported earlier this year first quarter revenue of about $70.2 billion. It is Minnesota's largest company by revenue with roughly 400,000 employees worldwide.
Optum includes divisions for patient care, pharmaceutical benefits management and IT/health care consulting. UnitedHealth Group's health insurance division, UnitedHealthcare, is one of the nation's largest carriers, providing coverage in the U.S. to about 44 million people.
In February, United Health Group closed the LHC Group transaction. In October, the company closed on its purchase of Tennessee-based Change Healthcare, a $13 billion acquisition the Justice Department unsuccessfully tried to block on competitive grounds.
Â©2023 StarTribune. Visit at startribune.com. Distributed by Tribune Content Agency, LLC.
Public health research and interventions often focus on important but siloed areas such as food, energy, and housing rather than on a comprehensive approach to economic insecurity. This singular focus limits opportunities to break down the structural racism found in financial, health, and social service systems that has created significant disparities in wealth along racial lines. This study presents financial health as a key factor impacting physical and mental health. Using survey data from the Building Wealth and Health Network, it introduces financial health as a measurable concept underlying these other elements of economic hardship that can contribute to greater health equity. The study demonstrates that financial health has a significant impact on overall well-being and belongs in the discussion of social determinants of health.
Key Terms and Definitions
Economic hardship has traditionally been measured in terms of income relative to the Federal Poverty Line or participation in public assistance programs that support housing, food, and healthcare. This understanding of economic hardship results in interventions that tend to be siloed and address a singular issue without focusing on underlying causes.
â€śFinancial healthâ€ť is a comprehensive assessment of resources that includes the ability to meet basic needs and encompasses opportunities to save and build wealth. Not only is financial health directly related to various forms of economic insecurity, such as housing, food, and energy insecurity, it has actually been identified as root cause of these economic hardships.
Efforts to Strengthen food security, housing security, and other economic hardships by increasing wealth have been limited by the lack of consistent, validated measures and definitions of individual financial health.
Additionally, past studies about financial health are largely located in the field of consumer finance where target interventions are not created for or implemented with lower-income or under/un-banked populations.Â
Building Wealth and Health Network
The Building Wealth and Health Network (The Network) began as randomized controlled trial in 2014 and continued as single arm intervention study. The Network is a trauma-informed, financial empowerment program utilizing peer support that has worked primarily with Black women who are caregivers of young children. It aims to address mental health and economic hardship through building social capital and financial capability.
Network participants, known as members, attend 16 financial and emotional empowerment group sessions. Sessions on financial Topics include building and fixing credit, reducing debt, and developing entrepreneurship. The program helps members open a savings account with a partner credit union and matches their savings up to $20 per month for one year.
Members responded to surveys about economic security, employment, finances, entrepreneurship, depression, and caregiver/child health at baseline and every three months for a year. Survey questions about financial health were based on the four main components of financial health as defined by the Center for Financial Services Innovation (CFSI):
The self-rated physical health questions were adapted from the National Health and Nutrition Examination Survey2 (rated as â€śexcellent,â€ť â€śgoodâ€ť, â€śfairâ€ť, or â€śpoorâ€ť). The self-reported depressive symptoms were assessed using the Center for Epidemiological Studies-Depression Revised 10 (CSDR-10)3 , measured on a 0 to 30 scale.
Results demonstrate that components measured by the Network align closely with the established domains of financial health in the literature: spend, save, borrow, and plan.
Financial health was shown to be distinct from other measures of economic security and have a greater impact on a familyâ€™s health than other individual measures of poverty such as housing/food insecurity or income level.
Additionally, the borrow and plan components were significantly associated with self-rated health and depressive symptoms - independent of food, housing, and energy security. A higher score related to having debt was associated with greater odds of depression and fair/poor health; while a higher score in financial planning was associated with lower odds of both depression and fair/poor health. This evidence suggests that financial health may be a stand-alone social determinant of health.
This study sought to introduce financial health into public health research. It explored the relationship between financial health and physical/mental well-being. The results indicate that financial health can be conceptualized as an underlying cause of economic hardship and a social determinant of physical and mental health.
The American Psychological Association considers personal finances to be one of the top stressors in America, with impacts similar to adverse childhood experiences. Financial stress and economic hardship are linked to increased physical pain, lowered pain tolerance, and risk of coronary heart disease. The results of this study suggest that the public health community do the following to promote financial health and thus overall well-being:
For more information about this study, please see the following article: Weida EB, Phojanakong P, Patel F, Chilton M (2020). Financial health as a measurable social determinant of health. PLOS ONE. 15(5): e0233359. https://doi.org/10.1371/journal.pone.0233359
Are you stressed about your finances? We know that stress can affect nearly every facet of your life. Stress, in general, can cause heart attacks, strokes, and many other serious health issues regardless of the source. â€śFinancial Stressâ€ť is defined as: â€śA condition that is the result of financial and/or economic events that create anxiety, worry, or a sense of scarcity, and is accompanied by a physiological stress response.â€ť â€śChronic Financial Stress,â€ť then, is ongoing (yet frequently intermittent) financial stress.
While we can agree that stress affects you in some way, do you know exactly HOW financial stress can affect you physically? If you constantly find yourself consumed with how much money you have (or don't); how you're going to keep a roof over your head; get to work; and possibly feed your family; then you could certainly develop one of several stress-related health conditions. If these conditions go unnoticed or untreated it could even result in very serious, sometimes life-threatening illnesses.
Two of the most common effects of financial stress are anxiety and depression. These two conditions usually go hand-in-hand. Each one is a debilitating condition that makes it hard to focus at work, spend time with your family, and keep up with your bills and other financial responsibilities. The stress of having too much credit card debt, college loan payments, or medical bills can weigh on a person and cause severe anxiety and depression. If you are behind financially and are feeling discouraged and hopeless or have feelings of constant worry and poor concentration, you may be seeing signs of one of these disorders.
Anxiety can manifest in many ways, but most people that suffer with it report panic attacks where their chest feels like it's tightening, it becomes difficult to breathe, and it's often coupled with the inescapable sense of impending doom- the idea that something terrible is happening, it's growing, and it won't go away. Anxiety is mental as well as physical. Even if you aren't in the throes of a panic attack, you may still be experiencing racing and unwanted thoughts, profuse sweating, trembling, nausea, and a rapid heartbeat.
Anxiety about money can occur at any level of wealth or income. Financial advice is often aimed at people who don't have enough money, don't know how to manage it, or who aren't managing it well. . A hallmark of perfectionism-related anxiety is if you continually shift the goal posts on what would provide you peace of mind
4 unhealthy attitudes toward money
Depression goes beyond just general feelings of sadness and self-doubt. There is a wide array of physical and mental symptoms associated with depression that may include trouble sleeping, a change in appetite (overeating or under eating), risk-taking behavior, a lack of interest in favorite activities, and particularly dark thoughts. Depression could follow a divorce or death of a loved one, and now the financial burden remains on you to support your household with only one income. Depression should not be taken lightly; it can be a very unintended response to stress caused by personal and financial problems.
According to webmd.com, the idea that stress is 'in your head' is a common misconception. Stress is an inherent physiologic response to a threat. When you are extremely stressed, your body enters the "fight or flight" mode. Adrenaline (a hormone that increases heart rate, pulse, and blood pressure) races through your veins during a stress reaction and you either want to utilize this adrenaline to 'fight' through the current situation or take 'flight' by running away, or avoiding the situation as much as possible. Regardless of the source of stress, physical responses occur inside your body when you are stressed. These physical responses can drastically affect your body and lead to severe health issues. Pay attention to what your body is telling you. Some conditions that can be caused or worsened by financial stress:
Being concerned about your finances is the best way to have a good handle on them and to keep them under control. Better yet, be proactive. Consult the source of the stress and spend some of your time working towards changing that. Write a budget and get your finances down on paper. See what you make, what your monthly responsibilities are, and what your debts are. Even getting it all on the page will help you confront it. Take small steps. Make the budget and take a break before you come back to tally up the totals. Once you do get some numbers down, do not panic! Remember, your health is your most valuable asset.
The financial health of Americans is not being reported clearly by the federal government, a range of experts told a webinar from a Washington think tank today.
A new, holistic number combining the interrelationships and interactions between familiesâ€™ spending, saving, borrowing, and planning was offered as a solution at the Brookings Institution session.
No single economic indicator that gives us the reality families are facing, JPMorgan Chase Office of Corporate Responsibility Director of Financial Health Sarah Willis Ertur told the virtual meeting.
The numbers the government is currently putting out are fragmented, misleading and provide too rosy of a picture of financial well-being in the country, asserted Gene Ludwig, author of The Vanishing American Dream.
â€ś(The numbers) do a poor job of assessing Americansâ€™ financial health. Middle Americans are in dire straits,â€ť said Ludwig former Comptroller of the Currency.
As an example of how poor the data is at representing the financial trouble many people are in, he noted job statistics report someone as employed who has worked as little as 10 minutes in a week.
â€śAt the end of the day people have to have real jobs to produce wealth,â€ť said the chair of the Promontory Financial Group who founded the Ludwig Institute of Shared Economic Prosperity.
Michael Piwowar, Executive Director of the Center for Financial Markets at the Milken Institute Center for Financial Markets said a lot of surveys donâ€™t do what they need to do to provide clear measure of financial health.
But the former Republican Securities and Exchange Commission Commissioner added he is skeptical financial health can be boiled down to one single authoritative measure.
That possibility was raised in a presentation of a new report by the Financial Health Network, a research firm.
â€śThe time has come to establish financial health as the clear North Star for economic and social policy and for the federal government to build an effective system to measure and report on the state of financial health for the country as a whole and for those communities that historically have been discriminated against,â€ť the report asserts.
The study said a holistic number could help measure the share of families who are financially unhealthy or struggling.
â€śTo measure financial health and make progress in improving it thus requires a more complex set of metrics that captures within individual families not just how much money a family receives over the course of a year but, at a minimum, how it spends, saves, borrows, and plans for the future,â€ť the authors recommend.
Last July, the group estimated one third of individuals were financially healthy.
May is Mental Health Awareness Month. As awareness is being brought to the syllabu of mental health, more is uncovered on the link between our finances and psychological distress. According to a study in the Journal of Family and Economic Issues, growing evidence reveals that financial strains and worries play significant roles in mental health. The disconnect in knowledge or skill between mental health practitioners and financial professionals in being able to address both psychological distress and approaches to education or goal setting around money creates an opportunity for both disciplines to come together in the field of financial therapy.
Financial therapy is described as â€śa process informed by both therapeutic and financial competencies that helps people think, feel, communicate, and behave differently with money to Strengthen overall well-being through evidence-based practices and interventions,â€ť by the Financial Therapy Association. Financial therapists come from a variety of starting points that include academia, mental health, finance, and more to converge on the advancement of the financial therapy industry. Here are 5 reasons you should hire a financial therapist this month or any other.
To Strengthen Your Relationship With Money
A financial therapist can help you examine habits and beliefs you have that impact your behaviors around money. The idea that â€śmore money, more problemsâ€ť is true in that additional income doesnâ€™t address ingrained limiting beliefs that may lead to things like:
A financial therapist can help you to identify underlying causes of financial trauma and make suggestions on ways to replace negative associations and behaviors with positive ones.
To Decrease Financial Stress And Anxiety
Financial therapists can provide exercises that help you to focus your attention on the present moment rather than on previously made mistakes or an unknown future. By practicing mindfulness you can better assess your safety and account for basic needs being covered like shelter, food, and clothing. Once you establish that you are safe, you can begin to set goals that reinforce that safety related to your finances.
To Increase Your Financial Knowledge
Financial therapists can provide you with general information and approaches to many of your financial goals or obstacles and can tap into their network of financial professionals for a referral if necessary. Some financial therapists also hold credentials in financial planning or some other financial discipline. Your interaction with a financial therapist however is not incentivized by a financial product being sold creating a more suitable learning environment for those who might have had a bad experience with a financial sales professional in the past. By increasing your financial knowledge through financial therapy, you may come to terms with feelings of fear, guilt, or shame related to behaviors youâ€™ve observed or acquired through your lived experience and swap them out with behaviors that better suit your current financial circumstances and goals.
To Help Establish Financial Boundaries
Sometimes your personal values donâ€™t align with your financial goals. Cultural influences, religious obligations, and expectations of family can derail even the most efficient financial plan. A financial therapist can help you to make sense of where your values and your financial goals differ so that you can account for both without sacrificing one for the other. While establishing financial boundaries can sometimes look like telling others no, it can also look like telling yourself no by periodically prioritizing your expenses with meaningful allowances without overindulging. Going against the grain of cultural norms and family values by prioritizing yourself financially can be isolating. Having someone to help you to process your feelings of anger, pride, or frustration can help you to stay accountable to your goals should you need extra support.
They Can Relate To You
Although financial therapy is an emerging field there are people from all backgrounds and experiences with the knowledge and the skills to help you. Representation matters, and fortunately, there is a directory of financial therapists that you can sort through based on a variety of preferences including race, area of specialization, geographic location, and more so that you can find a financial therapist you feel most comfortable with.
Corrected, May 15: A previous version of this article incorrectly stated that the study appeared in the National Library of Medicine.
The stress and financial impact of cancer not only affects the patient, but their loved ones as well, which can lead to decreases in health-related quality of life for partners of cancer survivors, according to latest research that was published in JAMA.
The researchers surveyed patients with colorectal cancer and their partners to get a better grasp of how the disease can affect health outcomes such as sleep and pain. Two of the researchers, Lauren V. Ghazal, a research fellow at the University of Michigan School of Nursing, and Dr. Christine Veenstra, an associate professor of medical oncology and internal medicine at University of Michigan Health, recently spoke with CUREÂ® about their findings.
â€śWe studied the health-related quality of life in partners because we know that their lives are also drastically impacted by their partner's cancer diagnosis, and this phenomenon has been long under-studied,â€ť Ghazal and Veenstra said in an interview with CUREÂ®.
Of note, according to the Centers for Disease Control and Prevention, colorectal cancer has the second highest treatment cost of any cancer, with the first year of treatment typically being the most expensive for patients and their families.
Can you provide a brief summary/take-home points from your study?
We surveyed both patients who had been treated between one and five years earlier for stage 3 colorectal cancer and their spouses, domestic partners or significant othersÂ who lived in the same household. (A total of) 307 patient-partner pairs responded.
Almost two-thirds of partners reported financial burden due to the cancer, including cutting down on expenses, activities, food or clothes, or using savings. About a third of partners had high financial worry, which increased the more they lost income or missed work. And 29% of partners reported debt related to the cancer diagnosis and treatment.
Younger partners were significantly more likely to report financial burden and debt, which is striking because colorectal cancer has increased in younger adults in latest years. Financial toxicity among partners was associated with worse quality of life in multiple areas, including pain, fatigue, sleep and social functioning.
How is it that financial concerns can end up affecting physical health?
For partners of colorectal cancer survivors, financial concerns can end up affecting specific domains of quality of life, like pain, sleep, anxiety and depressive symptoms, in multiple ways. In their ownÂ words, partners in our study described medical expenses and bills that led to debt, sometimes causing them to exhaust savings or retirement funds, sell personal items, and ask family and friends for money.
Some partners noted changes in personal spending habits â€” spending more money to cope with the emotional stress of cancer. Worrying about finances or feeling like theyâ€™ve lost the support of friends and family because of financial problems can affect partnersâ€™ quality of life. For example, the emotional toll of worrying about financial toxicity and the inability to afford their own medical care could both affect partnersâ€™ physical pain. Having debt and dealing withÂ â€śnever-endingâ€ť calls from bill collectors could affectÂ partnersâ€™Â sleep and lead toÂ disturbances in sleep or loss of sleep.
What is your advice for cancer caregivers who are experiencing negative impacts onÂ health-related quality of lifeÂ due to financial stress from their loved oneâ€™s cancer diagnosis?
TellingÂ your partnerâ€™s cancer providers about financial problems related to the cancer or its treatment is important. They may not know about the problems or may not ask about them unless you bring them up.Â Getting connected to financial navigation services, or a social worker, early and often is a good first step to intervening on financial toxicity. Talking to your own doctor or health care provider about the negative impacts on your health-related quality of life can also be helpful.
What further research/work is needed in this field?
Researchers and oncology care providers need to better engage partners and caregivers in the support of cancer survivors. More research is needed to identify solutions to financial toxicity at the level of employers and at the level of health policy. Additional research is also needed on the experiences of younger partners/caregivers, who we saw were more impacted by financial toxicity.
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