Financial wellness continues to be one of most frequently discussed topics in the retirement plan consulting and advisory world. Financial stress affects almost half of the US population and is present in virtually every workplace. A successful financial wellness program can be extremely beneficial for both employer and employee in dealing with this stress. That said, there are several key components that a program must include to provide impactful, lasting change.
Leading up to the start of the COVID-19 pandemic, a study from MassMutual spotlighted the significance of employers offering financial wellness programs to their workforce, noting that implementation of these programs was expected to nearly double over the next few...
It is no secret that financial stress has a significant impact on mental health, productivity, turnover and absenteeism in the workplace. By some estimates, pre-pandemic financial stress cost US businesses upwards of $500 billion per year. Lost productivity, turnover and other factors related to stress cost the average company between 11-14% of their total payroll expense.
Have you filed your 2020 taxes yet? At Financial Fitness for Life, we know it can be overwhelming doing your taxes, especially having to deal with a Pandemic, there are even more questions surrounding this year’s tax season and Tax Day.
According to Investopedia, “financial literacy is the ability to understand and effectively use various financial skills including personal financial management, budgeting, and investing. [It] is the foundation of your relationship with money, and it’s a lifelong journey.”