Employees need a plan for their finances, just like they need adiet and exercise plan to stay physically healthy. (Photo:iStock)

If there's one thing I've learned about my physical well-beingover the years, it's this: There are no shortcuts. There is no faddiet that will make me feel better. There is no innovative workoutthat will magically transform my body. No, physical well-being isall about persistence, commitment and long-term planning.

Does that sound eerily similar to any other topic in thebenefits world?

I've been working in the financial well-being world now for three years,and I see many parallels between that and physical well-being. TakeNeal for example, one of my first participants. We worked on a lotof things, and it took a while to see them produce significantresults. Recently, he has started to observe the full impact of allthose little changes. His life now is hardly recognizable fromwhere he started. He achieved his goals, not by one magic moment,but thanks to many persistent steps forward.

Related: 3 ways to approach employees about financialwell-being

Here are four parallels that I see between physical andfinancial well-being:

1. Education powers decision-making

When it comes to your diet, one thing most health and wellnessprofessionals will tell you is to start tracking what you eat. Aspart of that process, you also may carefully read food labels. Why?Because we all need to get smarter about the food we put in ourbody. It is the fuel that drives us daily. Even that simple pieceof education can go a long way toward powering decisions about whatwe eat, and, in turn, how healthy we can become. In order to makegood decisions, we need to have good information.

I noted in a previous BenefitsPRO article, education is key tosupporting employees in their financial goals. For example,managing debt is a common concern of many employees. Morespecifically, they sometimes just don't know how to escape from it.So, we developed educational resources as part of our MoneyStepsprogram to address that. And, it seems to be working! A recentsurvey showed that 80 percent of our program participants saidtheir confidence improved relating to managing debt after takingone of our online classes! Simple education can go a long waystoward powering financial decision-making.

2. Long-term planning is the key

When it comes to our physical health, we know sustained changeis required. There are no overnight success stories. Buildingendurance, both physically and financially, takes time.Strengthening muscle requires consistent effort. So does losingweight. Having a clear plan of attack is absolutely paramount tosuccess. This is why personal trainers and health coachesexist!

Employees need a plan for their finances, just like they needthat diet and exercise plan to stay physically healthy. Many couldstart by implementing a simple budget. Tracking spending each monthand then formulating a plan for how and where to spend yourmoney—and, more importantly, how to save—is a great first step.Commitment to a budget keeps you on track and working towardsspecific financial goals—everything from building an emergency fundto paying down debt and saving for a home. A solid financial planalso makes the process less overwhelming because instead of tryingto do it all, it's broken out into steps that make it approachableand realistic based on your specific situation and goals.

3. Build a process

Now, how do we achieve our goals? My strategy with participantshas been to focus on what they can do every day to move towardstheir goal. For example, a goal to lose weight might be to startwith taking the stairs instead of the elevator. If you're trying tosave $1,000, let's start with the first dollar. Because if you cansave $1, you can save $2. Maybe you want to pack a lunch once aweek or wash your car by hand. Choose a tactic that you can livewith and even enjoy. That way, you're always building momentumtowards the goal. And once you reach it, if you keep those newhabits, you can achieve beyond it. When you eventually look back onthe process, much like Neal did, you might be surprised at how muchmore you achieved than you ever dreamed possible.

4. Practice discipline

Finally, physical well-being requires immense discipline. Andwith discipline, comes intentionality. There are alwaystemptations—that piece of chocolate cake, or that cheeseburgeryou've been craving. But, with an actionable plan, an enjoyableprocess, and a better understanding of your physical health, itbecomes easier to say no to that chocolate brownie or fast foodvisit. With financial well-being, discipline is an absolute must.By being intentional and disciplined about how you spend and save,you are making a commitment to your financial future. Straying fromthe plan is breaking a promise to yourself. The key is staying trueto the process and knowing it might get difficult, but that it isall part of the journey.

There are so many parallels between managing your physical andfinancial well-being. Many of the lessons and best practicesemployees have learned when managing their physical health can beapplied to managing their financial health, too. Most importantly,create a plan and stick to it. Education is key along theway—learning basic financial terminology and understanding howcertain financial tools work. But having the fortitude to stay thecourse is ultimately what will help employees achieve theirfinancial goals for the long run.

Peter Waitzman is a senior financial coachfor the MoneySteps financial wellbeing program.

Read more: 

• How improved financial wellness strategiesstrengthen holistic wellness
• Redefining the future of workplacewell-being
• Financial literacy, financial wellnesslinked