Financial wellness is a term used to describe the state of one’s personal financial situation.  There are many dimensions to financial wellness, including the amount of savings you have, how much you’re putting away for retirement and how much of your income you are spending on fixed or non-discretionary expenses. Financial wellness allows the individual the ability to pursue opportunities due to the stability of having a day-to-day financial system, which includes the capacity to spend,...

A question I am often asked is: “How do I invest small amounts of money and make a LOT of money?” I always smile and say, “Wouldn’t it be nice if it were that easy?” Investing money for high-yield returns usually requires significant research, due diligence, resources and capital. Some (or all) are often outside the reach of us mere mortals. So, what should you do when you have a few extra hundred dollars or maybe even a couple of thousand dollars? I recommend that people go through a...

As most of us can attest to, it is difficult to leave life’s challenges and stresses at the door when we arrive at work. These challenges and stresses can be quite aggressive, competing for attention normally dedicated to work responsibilities.   The top source of this productivity killer? Money-related stress. 46% of employees say financial challenges cause them the most stress in their lives. It’s certainly understandable. Medical insurance costs continue to increase....

Financial wellness, as an employee benefit, benefits from digital technology. “The rise of self-service applications, machine intelligence and e-learning approaches have allowed financial wellness providers to deliver personalized education to employees when and where they want it,” says Dave Zielinski in a recent SHRM article. “Experts say the best of these approaches use technology to improve employee access to and the efficient use of financial information, enabling financial counselors to...

Jean, a longtime employee with a track record of dependability has recently started to miss work, is distracted and always seems tired. Jean’s manager has noticed these changes but isn’t aware of Jean’s growing role as caregiver. Jean’s aging mother is now requiring increased daily care and her adult son, struggling to afford his student loan debt, has recently moved back in with Jean and her husband. Jean is a member of a growing population of American workers who are supporting adult...

That sounds quite simple when you say it quickly, but there are plenty of instances where the solutions to problems result in unintended consequences. The Beijing Problem Take this example. Beijing, China, has an air pollution problem. The thick smog which often envelops the city is a combination of vehicle exhaust, smoke from coal-fired power plants, and industrial contamination. Residents often wear surgical masks to filter out the particulates. What’s the solution? The obvious solution is...