Financial Wellness

//Financial Wellness

Take more control of personal finances with a reality check

Trying to make ends meet, dealing with credit card and student loan debt and paying unexpected bills while saving for retirement can be challenging regardless of where you are in life. It’s not surprising that personal finances are employees’ number one source of stress, according to MetLife’s 17th annual U.S. Employee Benefit Trends Study. Luckily,

Fostering Economic Resilience Through Financial Inclusion

Checking your bank account should feel like part of a daily routine, but unfortunately for many Americans — and billions globally — this is far from reality. Basic banking products and services to facilitate daily life remain unavailable to millions in the U.S., thanks in large part to how traditional banks have continued to misunderstand

We must act today to address the hidden cost of financial illiteracy

With bipartisanship in short supply, Congress must search for areas in which cooperation is both possible and beneficial for the health of our nation—and financial literacy would be a wise place to start. The lack of financial literacy is blind to politics. It affects young and old, rural and urban, and every ethnicity, gender and creed.

80% of workers plagued by money problems, report finds

Dive Brief: Money is a major pain point for 80% of workers, according to a report commissioned by Ceridian, a global human capital management (HCM) firm. The first Pay Experience Report found that North American workers regularly face financial issues that hit hard at work and home. The poll of 1,891 full-time and part-time employees and contract

7 Free Online Courses to Improve Your Financial Literacy

Managing your personal finances and understanding the concepts is critical if you want to maintain your financial well-being, so holes in your knowledge can come with serious consequences. Luckily, there are plenty of free online courses that can help you improve your financial literacy. Here are seven free online courses that everyone should consider taking. 1. Personal Finance

Let’s stop the argument that financial education doesn’t work

About this time each year, I expect the predictable articles proclaiming that personal finance education doesn’t work. Pundits point to poor proficiency in financial literacy “tests,” and programs that show minimal change in consumer’s behaviors to support their position. They assert this education is useless, ineffective and a waste of time, and we should stop spending

Morgan Stanley Study: Financial Wellness Reduces Employee Stress

Morgan Stanley at Work today released an employee financial wellness study conducted by the Financial Health Network on behalf of the organization. The study finds that financial wellness is an opportunity for employers to reduce employee stress, improve retention and engagement and set themselves apart in the marketplace. A survey of 1,000 full-time employees of

Why financial wellness matters

Financial wellness can be defined in many different ways, and because money is implicated as a major stressor in society; it plays a major role in influencing many individuals from a mental or even physical standpoint. Wellness isn’t about how much money you make, it’s about money management, your attitude towards your financial status and your relationship

Few Americans Are Ready for Retirement: Can Financial Wellness Programs Help?

Notwithstanding a strong U.S. economy, only one in four Americans say they feel financially prepared for retirement, according to a report just issued by the Certified Financial Planner Board of Standards: Close to 80% of participants surveyed say they are not reassured that they have the best retirement savings strategies available to them; the CFP

Are you on the right financial track for your age?

The Consumer Financial Protection Bureau, combined with a review of research and consultation with leading experts, found that financial well-being includes the following four elements: Having control over day-to-day, month-to-month finances. Having the capacity to absorb a financial shock. Being on track to meet your financial goals. Having the financial freedom to make the choices

Can You Answer These 6 Basic Financial Questions? Most People Only Get 2 Right.

Can you answer these six basic financial questions? Most people answer only two questions correctly. Let's see how well you do. Basic Financial Literacy Questions These six questions on credit history, net worth, interest rates and student loans were developed by Annamaria Lusardi, Director of the Global Financial Literacy Excellence Center (GFLEC) at The George

Making financial wellness approachable… for employers

Employers know that their workers’ financial health is causing stress and impacting all aspects of their personal and professional lives. They know that offering tools and resources to address these issues not only improves productivity but can give them a recruiting advantage in today’s job market. They know all of this. Then why aren’t they doing something

Supporting Employees’ Financial Well-Being: What Employers Can Do Today

It’s been just a few weeks since taxes were due, and refunds and finances were top of mind for many. Now that the tax deadline has passed, have people moved on from financial concerns? Most likely, the answer is no. Financial wellness is an ongoing struggle for many American workers as low wage growth, rising

How Financial Literacy Can Lift Women Out Of Poverty

Without financial literacy, you can’t lift yourself from poverty. In order to have financial security and eventual financial independence, knowledge of personal finance basics—managing savings, banking and investment accounts—is mandatory. Financial literacy can provide so much more, though. Think about this: When you are money savvy, no one can try to control your life by

Financial Wellness Usage Tied to Improved Retirement Readiness

Employees who used their financial wellness program on a regular basis improved in all areas of financial planning, with the greatest level of improvement in retirement preparedness, according to a new, multi-year study. Financial Finesse’s 2018 Financial Wellness Year in Review highlighting the current state of financial wellness in the U.S. shows that in 2013,

Employee Financial Stress is Costing Employers

Employee financial stress is a growing concern for most employers and employees.  Employee financial stress not only impacts individual employees, but such stress on employees is also a noteworthy expense to employers. The company experiences Employee financial stress in the form of lost productivity, absenteeism and a lack of focus while on the job. John

Does Financial Wellness Actually Work? The Numbers Say …

Employees who used their financial wellness program regularly improved in all areas of financial planning, with the greatest level of improvement in retirement preparedness, according to a new study from Financial Finesse. In 2013, 21 percent of participants included in the study indicated they were prepared for retirement. By 2018, that number rose significantly to 57 percent.

Emergency Savings Accounts Have The Power To Avoid Life-Changing Financial Disruption

It’s no secret that Americans are worried about having enough money set aside for retirement, with the Federal Reserve reporting that less than 40 percent of non-retired adults believe they are “on track” with their retirement savings. At the same time, only about 60 percent of Americans have enough savings to cover a $400 emergency expense. Americans

Three Facts That Show Why Financial Literacy Is Especially Important For Women

First, my disclaimer: It’s important that women and men understand their finance! All adults need to have a basic understanding of money management. However, on average men are still the ones to manage the family long-term financial planning, including: savings, investments, retirement, management and insurance. A UBS survey of high net worth married women, widows, and divorcees found that while 85% of the women