Financial Wellness

//Financial Wellness

Financial Wellness Programs: How Employees Benefit

Every employee in America has, at one time or another, felt stressed about the same thing: money. Changes in the healthcare system, tax reform and employer plans are impacting us all. As a result, more and more employees, regardless of age, career or income are turning to their employers for help with their own pP.

Why you need to be the CFO of your personal life

Take a look inside any successful, growing company and you’ll see that the business owner or CEO has spent countless hours on thoughtful, detailed planning to get there. As part of the overall business plan, they’ve also put people and systems in place to sufficiently manage the company’s financial health. Without knowing the assets, fixed

This Is How Much Debt the Average American Has Now—at Every Age

Americans have fallen back in love with debt. Total household debt—a category that includes mortgages, student loans, and car loans along with credit card and other debt—dipped in the wake of the Great Recession, but it has since steadily rebounded in the years since. Overall, Americans’ debt hit a new high of $13 trillion last

What Is Financial Literacy and How Can You Improve Yours?

From subsisting on a ramen noodle diet to working multiple jobs while in school, college students are notoriously cash-strapped. But while you may have to scrimp to make ends meet now, you may have a brighter financial future, and sooner than you think -- particularly if you start adopting smart financial behaviors during your college

Moving from the idea of financial wellness into a plan of action

Financial wellness is a hot topic but employers and plan sponsors need do more than have a conversation. They have to realize that a worker with serious financial problems is not as productive as they should be and may not retire on time. Plus, moving from just talking about employees’ financial worries and creating a

Stop Teaching, Start Coaching

While some advisors see client financial education as a primary service, others are not convinced that the practice has real value. Decades of academic research only serves to intensify the debate because studies can be found to both defend[1] and refute[2] the effectiveness of financial education. How do we make sense of all these (often

Tax time: 5 smart and dumb things to do with your refund

For many people, tax season can feel a lot like Christmas morning. With more than 70% of U.S. taxpayers expecting to receive some sort of refund this year, according to IRS, that means Americans have essentially three choices to make with the extra cash on hand: save it, spend it or pay down debt. Chris Whitlow, CEO of Edukate, a workplace

Improve your financial literacy with these library books

The ability to manage debt and make good financial decisions can have a lasting impact on our lives, and yet many Americans struggle with financial literacy. Each stage of life, from starting a new career, to beginning life with a new baby or contemplating retirement, can take a different financial toll. For that reason, financial

Employees might lack more financial skills than plan sponsors suspect

Financial wellness programs and efforts to educate employees on retirement plan ins and outs notwithstanding, employers may not be giving employees what they need to navigate the intricacies of finance. What they really need are skills they should have gotten years ago. That’s the conclusion of “The financial skills of adults across the world,” a

8 Small Financial Mistakes That Lead to a Mountain of Debt in Your 30s

No one wants to deal with money problems when they get older. But, unfortunately, many high schools and colleges don’t teach teens and 20-somethings how to manage their finances properly. In fact, the average person under 35 has around $5,800 in credit card debt alone, according to ValuePenguin. That’s on top of student loan debt, living

4 Stats That Reveal How Badly America Is Failing At Financial Literacy

Do you work hard every single day but still don’t feel like your finances reflect your grind? You’re not alone. Most of us invest a significant amount of time, money and effort on getting a job but we pay very little attention to managing the money we make once we have that job. And having

Finances matter even in early relationships

Researchers set out to see how financial socialization from three different sources affects life outcomes and well-being in young adults. The three sources they looked at were the young adults' parents, the young adults' romantic partner and the young adults themselves. According to the findings, young adults' own financial behaviors, unsurprisingly, had the most impact

2018-04-04T08:29:11+00:00 Tags: |

Money 101 For Millennials: Seven Tips For Improving Your Financial Literacy

When young adults become fully responsible for their personal finances for the first time, they're often in for a rude awakening. Financial literacy is rarely taught in school, and if their families didn't discuss credit scores, taxes and interest rates as they were growing up, these newly-minted members of the "real world" can easily get

Five Ways You Can Become Less Financially Vulnerable

If I asked you, “On a scale of 1-10 where 1 = “not at all financially vulnerable” and 10 = “very financially vulnerable,” how financially vulnerable do you consider yourself to be?” how would you answer? Public policy makers(link is external)define a financially vulnerable consumer as “someone who, due to their personal circumstances, is especially susceptible to detriment.”

April is Financial Literacy Month – Why Financial Wellness Matters

April is Financial Literacy Month and a great time to focus on financial education. A lack of financial preparedness has huge societal costs, and in the coming years as Americans age, these costs will likely increase. There are daunting challenges facing not only the poor but also the working middle class. In the face of

“Adulting” Is Harder Without Any Financial Education

T. Rowe Price’s tenth annual Parents, Kids & Money Survey revealed that receiving financial education in school can have a positive impact on financial behaviors years later. The survey sampled 1,000 young adults and found that those who received some financial education in school (59%) are more likely to have good saving habits compared with those who did not

Top 6 Apps to Spring Clean Your Finances

Everyone who's into managing his or her personal finances with the help of an app has heard about Mint, which currently ranks No. 24 among all free apps in the Finance category that can be downloaded from the Apple iOS Store.  To offer you a couple of alternatives, I would like to introduce you to other

Can You Pass the National Financial Literacy Test? Less than 50% of Americans can

Click here to take the test People representing all 50 U.S. states responded to a quiz assessing their money knowledge. The National Financial Educators Council (NFEC) designed the 30-question National Financial Literacy Test to measure teens' and young adults' ability to earn, save, and grow their finances. The average score of financial capability among this

“Financial Health” is good medicine in mental health care

Spend an afternoon doing mental health research with Annie Harper, PhD and you might find yourself checking out the prices at a local rent-to-own store, helping a client pull his credit report, or listening as Harper speaks on the phone, convincing a student loan collection agency to restructure someone’s debt. “Some of the things we

In quest for financial literacy, the buck stops with parents

Money might be the last taboo topic. In a society that runs on capitalism, we seem to have a harder time talking to our children about personal finance than we do about sex, race or even death. Maybe it’s because so many of us are so bad at financial matters ourselves. According to a 2017