Author: FinFit

Weathering the Challenges of Inflation with Financial Literacy

Financial Literacy Month is observed each April. As we turn our attention to financial literacy, it is important to consider how critical relevant financial education is to employees during a time of rising inflation.  Many Americans weren’t privy to an education grounded in the basics: Budgeting and smart spending Establishing emergency savings  Responsible use of credit Planning for and investing in the futureThese key pillars of financial health are all critical elements to helping an individual...

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Why Are Savings Accounts Important

Emergencies show up at the most inopportune time, whether it’s an unexpected trip to the ER, a surprise auto repair bill, or a busted pipe spewing water in your basement. And when life shows up — as it always does — where will your employees turn for financial resources to help you manage the situation? If they’re like most Americans, they likely have insufficient savings —nearly 70% of Americans have less than $1,000 stashed away — or no savings at all. Without adequate savings in a bank...

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Employee Financial Education Programs: Do They Really Work?

Today, employees are switching jobs in droves. So much so, this mass exodus has been classified as the Great Resignation. According to the U.S. Department of Labor, a staggering 11.5 million workers left their jobs during April, May, and June of 2021. And by most measures, this is just the beginning. Now more than ever, it’s imperative for employers to use every tool within their arsenal to retain and engage top talent. Fortunately, there may be an often-overlooked, golden arrow within your...

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What Does Financial Wellness Mean

What Does Financial Wellness Mean

Financial wellness involves and achieves independence. No matter how much one works and earns as income, being tied down by debt and commitments provides no real freedom. Financial wellness works the same way as wellness for the body; when everything is working correctly, and there are no concerns, a person is healthy. When vulnerabilities, leverage, debt, and financial stress cause losses and struggles, the body becomes sick and can’t perform as well. Most people in the U.S. today are not...

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Financial Needs Analysis: Surveying Employees for a Financial Wellness Program

Everybody deals with financial challenges, though each individual financial journey is unique and the challenges may look different. For employed individuals, financial stress can affect job performance as well. As personal financial problems become worse, it becomes nearly impossible to ‘leave it at home.’ Employees are distracted, productivity goes down, stress goes up and, in some cases, discipline issues and absenteeism can occur. FinFit helps boost employee productivity and increase...

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The New American Workspace: Millennials at the Gate

The New American Workspace:Millenialsat the Gate By David KilbyMillennials are the new core workforce. Their concept of “work” is different than the traditional. They bring bold, new approaches of what work should be, how and where it should be performed, and what the rewards for work should be. Summary:Millennials are the new core workforce. Their concept of “work” is different than the traditional. They bring bold, new approaches of what work should be, how and where it should be performed,...

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Financial Stress Affects All Employees, Regardless of Income

Financial Stress Affects All Employees, Regardless of Income

Financial Stress Affects All Employees, Regardless of IncomeThis probably won’t surprise you: Four in 10 US consumers reported trouble paying at least one bill or expense in the past year. This might: 18% of those with a household income above $100k said they had trouble affording an expense. Financial stress affects all employees, regardless of income level. Although a company may compensate its employees well, the rising costs of living and tuition place a seemingly endless burden on families...

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Early Wage Access Can Be Dangerous As A Stand-Alone Benefit

Early Wage Access Can Be Dangerous As A Stand-Alone BenefitNo matter what the moniker – early wage access, earned wage access, on-demand pay, instant pay, work-today-get-paid-tomorrow – the concept is the same. Employees have control over their cash-flow by accessing the wages they’ve earned early, prior to payday. Back in January 2020, I wrote an article discussing the pros and cons of offering an early wage access service to employees. One critical element that continues to come to the forefront...

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The Value of Financially Literate Employees

The Value of Financially Literate EmployeesFinancial literacy is “the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing,” according to Investopedia. This statement insinuates that an individual must not only have the knowledge, but the ability to translate that knowledge into action. Problem One: Knowledge 65% of Americans believe schools should provide financial education, but only 21 states currently...

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Creating a More Equitable Financial Future for All

Creating a More Equitable Financial Future for AllFinancial Literacy Month, observed each April, takes on new meaning this year as millions of Americans struggle to cope with the financial impacts of the pandemic. In 2020, 40% of American consumers had trouble paying at least one bill or expense, underscoring the importance of having a solid financial education to navigate these challenging times. At FinFit, we are committed to creating a more equitable financial future for all. According to...

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FinFit Loans are issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC. Loans subject to credit approval. Residents of Colorado, Connecticut, Iowa, Vermont, West Virginia, Nevada and Massachusetts are not eligible for loans. Nothing in this advertisement constitutes an offer or solicitation for loan products to residents of those states. Actual time it takes for loan approval dependent upon loan verification set up with your employer.

Wage Now is fully funded and managed by an affiliate of FinFit. If any fees apply, those fees will be disclosed prior to entering into any agreements.
Residents of California, New York, North Dakota, South Dakota, Tennessee and Vermont are not eligible for WageNow. This does not constitute an offer or solicitation for WageNow to residents of those states.

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