Author: FinFit

According to a 2017 CareerBuilder survey, 1 out of every 10 workers making $100,000 per year or more say they either always or usually live paycheck-to-paycheck. 59 percent within this salary bracket are in debt. And, 28 percent of workers making $50,000 – $99,999 per year either always or usually live paycheck-to-paycheck – 70 percent within this bracket are in debt. So it’s important to ask, if more than half of the employees in the mid-to-higher salary ranges are personally in...

According to the 2017 American Psychological Association study, “Stress in America,” money and work are the number two and number three sources of stress, affecting 62% and 61% of the population respectively. David Kilby, author of The New Productivity Engine, believes that “Money and work are amazingly intertwined. Stress from one negatively impacts the other, so you can hardly tell them apart.” “Small amounts of positive stress play a vital role in motivation, adaptation, and our relationship...

Americans experiencing financial challenges are bracing for the holiday season and the additional debt that will pile up as quickly as discarded boxes, bows and wrapping paper on Christmas morning. Last year, the average American accumulated more than $1,000 in holiday debt1. These Americans are some of your very own employees; distracted from their work, focused on money woes. And right now, they’re wondering how they’re going to afford another holiday season. If your organization’s employee...

With the unemployment rate at a historically low 3.7%, competition to recruit new talent is fierce. However, one important consideration as you work to fill new positions is the increasing rate of employee turnover. While you are focused on filling new positions at your company, so are other organizations – and they’re busy recruiting the experienced talent working for you! One way to retain employees is showing commitment toward improving their wellness – particularly, financial wellness....

Are you ready for the holiday season? ENJOY it this year by doing a little planning to make it easier to manage your budget. Create a budget for all gifts by family member/friend and dollar amount…AND stick to it! Add a 20% buffer because you and I are growing wiser (older) and we forget to account for some of our friends and family. Take advantage of online shopping so you’re not tempted by miscellaneous purchases or other expenses that are associated with physical shopping trips like gas,...

While the current economy is healthy and the unemployment rate is at its lowest since 1969, Americans are struggling with financial stress. Many are still trying to recover from the Great Recession of 2008. The end of 2017 saw credit card debt at an all time high of over $1 trillion. 40% of adults in U.S. households have indicated they are unable to pay for a $400 unexpected expense1 and over 20% are not able to pay all of their current month’s bills in full. On top of these worries, many Americans...

​71% of Americans are stressed by money. Take a look around your organization at your employees. Many of the signs of stress are there for you to see: Reduced work efficiency or productivity Forgetfulness, disorganization, confusion Difficulty making decisions Reduced punctuality Financial stress takes a direct toll on businesses, costing them about $250 billion in lost wages1, in part, because employees who are struggling financially may spend two to three hours per week dealing with personal...

Well, maybe not. We’re all familiar with absenteeism. “Bob is out sick today.” He’s not here, so don’t expect any production from him. Management understands that unless the other workers pick up Bob’s production, output will be down today by one Bob. But what about presenteeism? Bob’s here at work – see, that’s him over there – but, is he actually being productive right now, or is he really trying to figure out how to pay for a new transmission for his car? Absenteeism is usually regarded as...

Many of today’s employees begin their adult lives without essential financial knowledge. They don’t know the basics of balancing a checking account, or how to use credit responsibly. Nor do they know how to save, budget, buy a home or plan for the future. Schools will teach students about history, but not money. In fact, according to the 2017 Financial Report Card1 from Champlain College’s Center for Financial Literacy, only 5 states earned an A on the ability of their financial literacy education...