The biggest regret many people have is that they should have saved more and started saving earlier.  In your younger years, it seems you’ll never have enough money coming in to put some into a savings account. The hard truth: that rarely changes. You’ll always find somewhere the money can be spent.  The best way to start saving? Make it a habit. Start early and commit to a lifestyle of saving. If saving becomes part of your behavior, you’ll start there before you begin allocating money...

In our recent blog post, ‘What is Financial Wellness?’ we defined financial wellness as a term used to describe the state of one’s personal financial situation. One of the key phrases in that statement that we didn’t elaborate on is ‘personal financial situation.’  Financial wellness is personal. Financial wellness programs must be unique to each individual, tailored specifically to one’s current financial position. For a financial wellness program to benefit each employee utilizing the...

According to the 2019 World Happiness Report, 34% of U.S. employees are without savings. Considering that 78% live paycheck to paycheck, this may not come as a surprise. What is surprising, however, is that one out of four of those without savings earn more than $160,000 per year. Financial stress is not just a “poor person’s problem.” Not only is it impacting society’s higher earners, but it is also having an impact on the companies where they work. Various reports cite businesses lose...

When it comes to student loan debt, there are many options available to help you with student loan repayment. It’s imperative that you do your research and understand your options before you make a decision on the best student loan debt management plan. Federal vs. Private Loans You’ll first need to know if your student loan is a federal loan or a private loan in order to figure out your repayment options. You can easily determine if you have a federal loan by visiting the National Student...

As we enter the fourth and final quarter of 2019, employee benefit trends for 2020 are emerging. Various media outlets and human resource analysts are forecasting the most desirable benefits that employers should add in 2020 if you want to keep your organization on the cutting edge of benefit offerings. It’s important to pay careful attention to these benefit trends if you want to attract and retain the brightest and the best talent. The front-runners for 2020 are pet perks, flexible work...

Implementing a financial wellness program demonstrates that you and your organization care. Financial wellness helps employees recognize that their employers care about them on an individual basis, and this fact alone can provide a more desirable and interactive culture for your organization. 68% of employees feel employers have a responsibility for the health and well-being of their employees. After all, we do spend 30% of our lives working; that equates to 25-30 years! Work is a major...

When evaluating options for inclusion in your employee benefits package, consider the positive outcomes a financial wellness program can bring to your organization. By giving employees the tools and resources to cope with their current financial situations and make better money decisions related to saving, spending, borrowing, and planning, you’ll see countless positive returns. These are the top 5 benefits your company could benefit from by offering an employee financial wellness plan. #1:...

Key Findings from FinFit’s Financial Health Assessment Introduction  FinFit’s mission is to eliminate stress in the workplace and improve the financial health of employees by providing solutions that empower them to address their financial situation and guide them down the path to financial stability. FinFit’s financial wellness platform provides personalized recommendations and solutions based on each employee’s unique financial needs. FinFit conducts regular financial assessments of its...

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...