Not only are Americans swimming in debt; they are also doing a poor job of saving for emergencies. Bankrate.com surveyed more than 1,000 households and found that 3 in 10 Americans have more credit card debt than emergency savings, the highest in nine years of surveys. So what should take precedence: saving for emergencies or paying off credit card debt? David Kilby, president of FinFit says the answer is not one size fits all. There is no common formula that could be applied to everyone....

$620 billion.  That is how much the United States (States and Federal) spent on education in 20171. That is around $12,000 per student enrolled in public school, and it’s even higher when you consider private schools and other educational systems. Despite this world-leading investment in our children’s education, we are not only failing to compete against much of the world in our core competencies; we are failing to give them critical and relevant training in basic ‘survival skills.’ There was...

David Kilby President, FinFit Financial wellness programs are becoming a staple in the employee benefit universe. With this adoption comes the evolution of exactly what financial wellness means, and what a successful financial wellness program should look like. As a rapidly growing industry, we often lack a consistent definition for financial wellness. This leads to organizations believing they have implemented a financial wellness program when in reality, they are only offering a handful...

Going to a clinic for your annual check-up, you wouldn’t expect the doctor to just look at your feet and send you home. You want an examination of your entire body to ensure that all the systems are functioning properly. Expect the same from a financial wellness program. It should cover everything from educational concepts to practical solutions to financial problems – all with a good dose of fun and competition thrown in to make it more motivating. And you expect the doctor to examine you; you...

Based on a recent Washington Post article, 7 million Americans are delinquent by 90 days or more on auto loan payments. The findings indicate most of those delinquent have lower credit scores and are under the age of 30. Remember your post-college days? You were still driving the same tired car that saw you faithfully through your after-class pizza delivery job. It started to show its age with frequent trips to the shop for minor tweaks and major repairs. Time to consider a new vehicle. Consider...

“I’m really stressed out today,” you might say to a colleague after a particularly harrowing drive to work. “A lot of crazy drivers out there.” Or “I’m really stressed out today,” you might think to yourself when you realize you don’t have the money to pay your rent. “Now, what am I going to do?” These are different kinds of stress, and each will affect you differently. What’s wrong with her? In my book, The New Productivity Engine, I compare positive, good stress – acute stress – and negative,...

Take this situation. You’re working and you’ve earned the money. You need it now. But the timing is off. You can’t get it until payday. And that’s four days away. Sound familiar? Sure, we’ve all been there – waiting for payday. Someone should write a song about it. Now there’s a solution. It’s called FinFit WageNow, and it works like this. How Employees Can Get Money Now Employees at companies offering FinFit financial wellness employee benefit programs can receive their paycheck as often as they...

So, back to our question. What happens when an employee doesn’t have an emergency savings? In one such case, out of desperation, the employee stole from their employer. This very real scenario resulted in the formation of FinFit’s financial wellness solution. David Kilby, president of FinFit, knew there must be a better way to support employees. Kilby, answers the question, “Should employers care when their workers are in financial distress?”, during a recent Data Drivers podcast with podcast...

Who doesn’t love a good game of Candy Land? If you’re not familiar with the popular children’s game, the goal is to be the first to advance your gingerbread man to Candy Castle to find King Candy. Comparison to real life Scenario 1 – Candy Land: You and your child are making short strides forward. You’re beginning to accomplish something! All of a sudden, through the draw of just one lousy card, you’re back to where you started. Better you than a 3 year old, but no less deflating. Scenario...