Financial Instability Is a Mental Health Crisis
My eyes are hot and tearful. I’m trembling, as my gasps for air grow increasingly difficult. I’m trapped.
Financial Wellness Helps Facilitate Improved Retirement Behaviors
Employees fully engaged in a financial wellness program can experience significant improvement in a short amount of time, particularly for those who are financially stressed, a new study suggests.
Financial Finesse’s “2019 Financial Wellness Year in Review” finds that employees who engaged in online, group and individual coaching with respect to
10 financial mistakes your clients may make
Advisors, beware—as if your job weren’t complicated enough in the midst of a crashing economy and a pandemic, you’ll have to keep an eye on your clients lest they panic and do something stupid in what may seem like the end of the economy.
It’s not as if people
How to deal with coronavirus-related money stress, according to financial psychologists
Over 22 million people have filed for unemployment, thrusting the United States into the worst crisis since the Great Depression, while other Americans worry that pay cuts and layoffs are on the horizon.
“Job loss can feel like a threat to our stability and survival,” Amanda Clayman, a psychotherapist
Financial Advice And The Moments That Matter
When do employees most need financial advice? In moments that matter, like what we’ve been experiencing with the global COVID-19 outbreak and recent market volatility.
The market swings of the past month have created anxiety for all investors. With financial concerns being the No. 1 workplace stressor, the decline in
Don’t Let This Crisis Go To Waste When It Comes To Your Financial Wellness
With unemployment on the rise and many businesses unable to operate, this is a tough financial time for many people. But if you’re fortunate enough to not have your family income reduced during this pandemic, there are some opportunities to protect yourself from a future loss of income and grow your long-term wealth. As former
5 tips for improving your financial health
Seven in 10 Americans struggle with some aspect of financial stability, whether it be starting a savings account, managing bill payments or curbing spending habits. A 2017 survey from Bankrate revealed more than half of Americans don’t have enough money saved up to cover a $500 expense. For many people,
Supporting Employees with Financial Wellness can be the Best Business ROI
It’s not just business- It’s personal!
In the US, work is life and life is work. Work and life are so tightly intertwined that there is no effective way to keep them 100% separate. US employees work an average of 34.3 hours per week. That means that your employees likely spend at least 31% of their waking
Financial wellness? More like financial illness
Debt is driving everybody down, according to a new credit card survey from WalletHub, and that’s not a good sign for a culture that’s trying to emphasize financial wellness.
In fact, says the report, the rise in debt could prove to be the canary in the coal mine when it comes
Money problems keep workers from excelling, poll finds
Dive Brief:
- While 42% of U.S. employees said their financial status has improved in the last two years, nearly as many — 38% — report living paycheck to paycheck, according to the results of a Feb. 11 Willis Towers Watson poll.
- The report revealed 39% of workers couldn’t come up with $3,000
How to take the first step to financial independence in 30 minutes or less
There is a lot you can get done in a half-hour. Binge your favorite sitcom, take a nap or finish a chapter of a book. You can also take the first step to financial independence in under 30 minutes. Do you know your net worth? You don’t have to be a millionaire to figure it
Financial Wellness: The New Must-Have Employee Benefit
If you had a choice, what’s better: Free snacks and massages, or a financial wellness program that can address the No. 1 concern of your employees — financial stress?
The Aha Moment In Waiting
The transformative nature of employee financial wellness is still not widely appreciated in corporate America. There hasn’t been a fundamental shift in
Four Outdated Retirement Myths That Might Break Your Financial Health
As business leaders, it’s important to ask yourself: Are you really on track for financially surviving retirement and leaving the legacy you’ve been working so hard for?
Sadly, I’ve found that what many of us think of as golden rules for retirement planning and financial security just don’t work. Either they never did, or they’ve
Half of Americans Get What Financial Success Really Means
About 48% of those surveyed consider this achievement a sure sign of success.
How do you define success? When Northwestern Mutual conducted its 2019 Planning & Progress Study, it asked people to pick five attributes that they feel are signs of success. The top two answers came as no surprise: spending quality time with family and being
New Study Shows Almost No One is Immune to Financial “Faux Pas”
According to the new Financial Wellness Survey from KeyBank, 75% of consumers consider themselves financially savvy, with 41% stating they’re savvier than most or consider themselves an expert when it comes to personal finance. Despite this, more than half (54%) admit they have made a financial “faux pas”—referring to a money “false step” or error—and
Nearly 8 in 10 Employers Express Concern About Financial Stability of Workers
In MassMutual’s 2019 Workplace Financial Wellness Study, survey data gathered by Greenwald & Associates reported that a large majority of employers believe their employees are struggling financially in saving for retirement, settling debt, and dealing with medical costs.
As part of a 2-phase study, the study’s approximately 15-minute online survey served as the
Nearly 80% of employers think workers’ finances are out of whack
The vast majority of employers think workers are struggling to manage their personal finances. And while bosses are doing more to help alleviate their financial struggles, companies are still falling short.
Nearly 8 in 10 employers offering a workplace retirement plan such as a 401(k) think their employees are hurting financially, according to a recent survey
Financial Wellness Differs from Financial Literacy
Financial wellness differs from financial literacy. Clearly, Financial Wellness and financial literacy are not the same things. Surprised? This author was, too. But it turns out there’s a major difference between being financially literate and achieving financial well-being.
Essentially, there are some of the fundamental differences between financial literacy and financial wellness. Financial literacy means the
Getting millennial employees on board with financial wellness programs
Financial stress among American workers is high, particularly among millennials, a group that makes up 35 percent of the U.S. workforce.
A study by Payoff shows that one in four Americans and one in three millennials suffer from a condition known as Acute Financial Stress (AFS). Study author Dr. Galen Buckwalter suggests
Measuring the Success of Financial Wellness Programs
While some employers are merely concerned with offering financial wellness programs at a reasonable price, others are intent on achieving a specific return on investment (ROI), according to Cerulli Associates.
To help sponsors measure the success of their financial wellness programs, it is important to first determine what specific goals the sponsor has