Financial Wellness

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Why Workplace Financial Wellness Programs Are Hot

Most Americans are seriously anxious about their finances. It’s not simply the raw fear of outliving their money, but a more urgent yearning to sleep at night without money stresses and to have a sense of financial security. Employers, I’m pleased to say, are increasingly taking note.  The recently-released eighth annual Employer-Sponsored Health and Well-Being

How Much Financial Knowledge Do People Acquire as They Age? Not Much.

Americans’ knowledge of personal finance is low even among people who have already made many important and fundamental financial decisions, says WSJ Wealth Expert Annamaria Lusardi of George Washington University. People often argue that financial knowledge can be acquired with experience. But if the evidence from a new survey index is any indication, that way

Financial education helps employees cope with life issues, research finds

Financial education in the workplace can help employees to cope with life issues, with 48 per cent believing that it would enable them to save for retirement, according to a report from Capita Employee Benefits. The Insight report surveyed over 1,800 employees aged 16 or over in the UK and found that over 75 per

What If Your Credit Score Measured Your Financial Potential–Not Past Mistakes?

Zaydoon Munir emigrated to the U.S. from Baghdad, Iraq, so he knows the difference between an authoritarian regime and a free country. But, despite loving our free-market economic system, he criticizes one major aspect of it: credit scoring. Credit scoring is a system orchestrated by three national credit bureaus (Experian, Equifax, and TransUnion) that track our payment histories–whether we

More than three quarters of employees want financial education at work

Some 76% of employees believe improved financial education at work would significantly help them cope with life issues like planning for retirement, according to research by Capita Employee Benefits. It reveals that 20% think their work has been affected as a result of financial worries, while a third have lost sleep because of them –

Americans Get an ‘F’ on Retirement Planning

When it comes to retirement 101, Americans are getting an “F.” According to a study by the American College of Financial Services, three in four retirement-aged adults failed a quiz on ways to make their nest eggs last through retirement. Moreover, older Americans between the ages of 60 and 75 have trouble comprehending vital financial

Worry About Hunger, Homelessness Up for Lower-Income in US

Two-thirds of lower-income adults in the U.S. say they worry a great deal about hunger and homelessness, up from 51% in 2010-2011, and much greater than worry among higher-income groups. Since 2001, worry has been highest among those residing in lower-income households, likely because those with limited financial resources are more at risk of going

Financial Literacy Is The Key To Solving Economic Inequality

While many Americans are more confident than ever about their financial future, half are in danger of financial ruin from the next major emergency and, collectively, they are carrying almost $12.7 trillion in debt. Although most Americans have legitimate reasons to be hopeful, African-Americans and women, who suffer from persistent inequalities in employment, wages and

Employees Want Financial Wellness Help, Survey Says

An overwhelming majority of employees say financial wellness should be a part of their employer’s overall wellness program, but most employees say they are not getting financially fit at the workplace. An online national survey of 511 employees conducted by Four Seasons Financial Education in St. Louis, Mo., showed that 45% of employees said their

Investopedia CEO gives 3 ways to be better at managing finances

April is Financial Literacy Month, an effort to increase financial understanding in the U.S. But while Americans definitely need some help to better understand money, this isn't the answer. According to a 2015 S&P Global Financial Literacy Study, the U.S. ranks 14th in financial literacy; nearly half of the population rates as financially illiterate. The

It’s Financial Literacy Month: Increase Your Team’s Grasp of Dollars and Sense Issues

Have you ever considered a brown-bag lunch format to help employees deal with one of the biggest stressors we all have in life? National Financial Literacy Month is upon us, and while this may not quite be the cause for celebration that other federally recognized events are, it’s certainly worth your attention. You may look

How To Keep Your Retirement Plan On Track In A Wild, Woolly World

There have been scarier markets, but have there been weirder ones? How you should cope. Each year brings its own set of tests to your retirement plan, whether from stock market volatility, politics, the strength of the economy. But this year seems to carry an extra dose of uncertainty. How can you adjust your retirement

Choosing Nurture, Not Nature to Improve Financial Decision-Making in America

Even as the economy recovers, unemployment decreases, and median income rises, millions of households in the United States continue to barely scrape by. For years, society has placed the responsibility for financial shortcoming on the individual: a character flaw. But behavioral science shows that it’s really a failing of the broader system: a design flaw.

How Financial Knowledge Drives Wealth Inequality

What differentiates the financial success stories from the others turns out to be exposure--in school or the workplace--to financial education, says WSJ Wealth Expert Olivia Mitchell of the Wharton School. Financial knowledge plays a crucial role in shaping wealth inequality, according to a new study that my co-authors and I just published in the Journal

Android apps can conspire to mine information from your smartphone

Mobile phones have increasingly become the repository for the details that drive our everyday lives. But Virginia Tech researchers have recently discovered that the same apps we regularly use on our phones to organize lunch dates, make convenient online purchases, and communicate the most intimate details of our existence have secretly been colluding to mine our

2017-04-07T09:32:12+00:00 Tags: , |

Lin-Manuel Miranda didn’t have a credit card until he was 28

What Alexander Hamilton taught the creator of ‘Hamilton’ about money. Lin-Manuel Miranda, creator of “Hamilton,” sees a direct connection between his finances and healing the political divisions in America. The 37-year-old Pulitzer Prize-winning author and actor said one of the greatest lessons he learned about money came from writing about one of the founding fathers

The four most depressing reasons why Americans are not saving any money

This year, Americans say they’re ready to make their savings accounts great again. Whether they actually will is another story. About 21% of working Americans aren’t saving any of their income, which remains unchanged from the answer consumers gave the survey in 2016, a survey released this week by personal finance site Bankrate.com concluded. And

8 money problems financial education could have avoided

Companies increasingly realize that employee financial wellness is crucial to their bottom lines, and to employees stressed over money—particularly as they approach retirement knowing their savings are falling far short. A study at TradeSchools.net unearthed some of the reasons that people are doing so poorly at saving for the future: the timing and circumstances surrounding

2017-03-22T06:35:55+00:00 Tags: |