Financial Wellness

//Financial Wellness

Financial Literacy Awareness Programs Include Eliminating Confusion

Financial literacy awareness programs are topics we address with regularity.  Whether people realize it or not, strong financial literacy awareness programs are at the heart of the success of every 401k, 403b, and financial wellness effort. And rightly so. Many Americans are confused about managing their day-to-day finances because they simply fail to comprehend the

In a roaring economy, financial wellness is still needed

Low unemployment and the stock market’s record breaking run have yet to translate to higher pay for American employees. And with employers still reluctant to raise wages, the old saying “it’s not what you earn, but what you save” is becoming ever more prevalent. But saving money for most people is a challenge. One in

Millennials don’t trust the financial industry. These startups want to change that.

One spring morning in New York City’s Financial District, several besuited men couldn’t help but stop and gaze at a rather out-of-place sign hanging from the New York Stock Exchange building. “Follow us on Pinterest!” read the enormous red banner. A few weeks later they stopped again, this time in front of a yellow sign

By the numbers: Americans are barely in control of their money

In an era of financial-services innovation, money remains one of the great stressors in our lives. By the numbers: 5% of Americans with checking accounts rack up more than 50% of all the country's overdraft and bounced-check fees. It's a $35 billion income stream for the banks, even after Dodd-Frank. Needless to say, those 5% of Americans are

Study: 94% of US and UK workers report high work-related stress

Dive Brief: All but 6% of 1,600 U.S. and U.K. workers said they suffer from stress, and at least a third of them said they’ve experienced “high” or “unsustainably high” stress, according to a new study by Wrike, “The Stress Epidemic: Employees Are Looking for a Way Out.” The study found that respondents are refusing to tolerate high levels of stress.

Millions of Americans Enduring Financial Nightmares in Secret

Americans are leading double lives when it comes to money — seemingly flush with cash and confidence on the outside, but shivering with financial fears on the inside. This is the sobering conclusion from Nonfiction Research in its report, “The Secret Financial Lives of Americans and the Future of Financial Services.” More than 2,200 consumers

Examining the Root Causes of Financial Stress

In addition to evaluating participant financial stress levels, a new OneAmerica survey also looks at the specific factors causing participants to experience financial stress. Two in three retirement plan participants indicate they have moderate to very high levels of financial stress, according to recent client polling conducted by OneAmerica. The firm finds one in five

5 Awesome Budgeting Apps For 2018 And Beyond

If you feel like your finances are out of control, it’s likely that you’re not using a budgeting tool, and today’s best budgeting tools are apps. It’s no surprise that so many who feel helpless with money aren’t using the tools available to them. Let’s solve that. Below are five apps that will get you

Financial Literacy Awareness and Wage Increases Would Complement Policy Moves

Financial literacy awareness and wage stagnation are contributing factors in how much an employee can save for their retirement years.  There is no denying the current retirement plan policy proposals on the table for regulators and legislators, are good for American workers. The executive branch and lawmakers are looking for ways to make workplace retirement

What Employees Actually Want from Workplace 401k Wellness Programs

It’s common knowledge by now: workers are stressed about finances and it’s affecting their work performance.  But two surveys conducted by the Employee Benefits Research Institute (EBRI) dug deeper, focusing specifically on retirement-related financial stress and uncovering common characteristics shared by workers who worry about retiring comfortably. The results, published in a report titled Perceived Helpfulness of Financial Well-being Programs:

Our most irrational financial habit? Cheaping out on retirement saving

Dan Ariely’s job is to figure out why you won’t pay attention to perfectly good financial advice such as spending less and saving more. Mr. Ariely is a professor of psychology and behavioural economics at Duke University in North Carolina and a co-founder of Toronto-based BEworks, a management consulting firm that uses behavioural science in

The biggest obstacle to America’s retirement security

Despite what we hear from uninformed politicians, conflicted lobbyists, the pandering mass media and most of the 401(k) industry, the biggest obstacle to solving the retirement crisis is the lack of engagement among the senior management at companies that sponsor retirement plans. To understand better, let’s review the philosophy behind and the history of the

Why Workplace Financial Wellness Programs Aren’t Well

Doctor! We have a situation at America’s employers. Some of them are offering financial wellness programs to employees, which is great. But, according to a new Bank of America Merrill Lynch report, there’s a huge disconnect between the kind of financial information and advice they’re offering and what employees really want. Help is needed. Stat! The

Our Favorite Tools to Stay on Top of Your Financial Life

Getting your finances in order isn’t a one-time task — it’s an ongoing process. Whether it’s budgeting, planning your debt payoff, or monitoring your credit, your financial life needs regular, reliable attention. The right set of tools can help. We’ve rounded up some of the best money apps and services to help you get on

Data Paints a Grim Picture of Workforce Financial Fitness

Globally, people are not saving enough for an adequate retirement, and a growing number of them face the daunting prospect of outliving their savings. As longevity increases and defined benefit pension systems give way to defined contribution plans, this savings gap is a critical workforce issue and a key to the multigenerational present—and future—of work.

How to raise the bar for financial wellness

HR professionals are always on the lookout for the best in employee benefits – more specifically, a robust well-being program for companies who truly want to help their teams get in better shape financially. It’s no longer possible to ignore the ongoing personal finance crisis that’s affecting the lives of millions of American workers. Many employers already have a financial wellness

Do Financial Literacy Courses Work?

The classroom is where many Americans learn to read, write, perform arithmetic and speak a foreign language. So can it also be the place where they master important financial concepts such as how to manage debt, improve credit, take out student loans and plan for retirement? For many politicians, educators and financial literacy advocates, this question

Quiz: How Financially Literate Are You With Investing?

Are You Financially Literate? If you’ve ever paid attention to any report on financial literacy from around the world, you’ll likely know that the results aren’t exactly awe-inspiring. For example, according to one global survey, only about 33% of adults are financially literate. Americans tend to fare better on average, but not as much as you might

3 simple ways to overcome financial fragility

Can you handle an immediate $400 emergency expense? Are you able to come up with $2,000 in 30 days? If your answer is no, you are probably financially fragile. The National Endowment for Financial Education (NEFE) reports that nearly two out of five working-age Americans fall into this category. This means an unexpected medical bill, parking ticket or