What is Financial Wellness?
Also referred to as financial well-being, financial wellness refers to the overall financial health of an employee. No matter what your age now is. Life is full of surprises and complications that could put you or your employees at risk of financial burden, so saving money now can help employees overcome whatever life throws at them.
Common Unexpected Financial Expenses
Many Employees today are living paycheck to paycheck without building up their savings accounts. If they were to be hit with an unexpected expense, could they afford it? Consider the following expenses and determine if it is time, to begin with, financial wellness education:
Unexpected financial expenses can cause financial stress that causes a negative effect on your employee's health. Financial stress often causes anxiety, depression and hopelessness, and stress that can also contribute to heart disease, high blood pressure, insomnia, more frequent colds, and minor illnesses, and more. Many people also cope with financial stress in unhealthy ways such as smoking, drinking, and over-eating which can lead to unhealthy lifestyle changes.
Financial Wellness Education
We have self-serve employee education materials to get the financial wellness conversation started along with retirement benefits, wellness information, and money-saving tips. We also provide the tools needed to help employees make wise financial decisions. If you are looking for a financial wellbeing tool to help your employees with tips and strategies for making the best financial decisions, managing and coping with financial hardships, or putting money into the right retirement or medical accounts, give us a call today!