Author: FinFit

Secure 2.0 Act of 2022 & The Power of Emergency Savings

Why should employers care about employee financial wellness, and how can the SECURE 2.0 Act of 2022 legislation help increase the financial stability of America’s workforce? In brief. Recently enacted Federal legislation seeks to increase the financial stability of the American workforce, directly addressing the governing dynamics that prevent broader adoption of retirement plans and emergency savings accounts through an array of new benefits for both employers and their employees. The Secure...

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A Lesson from The Grinch

It isn’t all about the packages, boxes or bags My brother Dan and stepfather have bonded over the years over a shared love of fishing. Each summer, my brother returns home to the Wisconsin lakes from California for a week of fishing, with a goal of hooking that prized musky. While our family has caught some nice size fish, including muskies, there’s always that one ‘that got away’ swimming in the depths, albeit taunting them. Our large, blended family gets together each holiday season. Normally,...

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The Hidden Dangers of Financial Stress on Your Employees

As an HR manager, business owner, or financial decision-maker, you probably avoid prying into employees’ personal lives. However, financial stress can consume your employees’ energy, making them less productive at work. That can lead to health problems, sick days, and other problems that affect your business. How can you turn this losing proposition into a win-win? Financial coaching can help bring peace of mind back to your employees by giving them tools to help them with major financial life...

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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

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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How to Develop an Effective Financial Wellness Strategy

59% of employees are more stressed about money than any other life stressor combined, as reported by the PwC 2019 Employee Wellness Survey. The reasons for this financial stress range from not having enough money in savings and being unable to meet monthly expenses, keep up with debt, or pay for college. One in four employees ranks a financial wellness benefit, including access to unbiased counselors, as the most desired employer benefit. Your employees are stressed about the cost of living, student...

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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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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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Services offered may incur fees and/or interest. All fees will be disclosed prior to entering into any agreements.
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