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...

Surveys have shown that employees are asking for financial wellness help. According to a 2018 PwC survey, 25% of employees would like financial wellness benefits. You’re organization has responded by updating your employee benefits package to include financial wellness. And…. {queue in cricket chirps} So just what is the problem? The stigma There are three things Americans don’t talk about: politics, religion and money; a familiar statement many of us have heard since we were children. It seems...

The Bible, Shakespeare and even Popeye cartoons caution us against borrowing money. We’ll lose friends, become an outcast to those around us. This may be accurate in some cases, but – and this is a big “but” – borrowing money, with a solid strategy to pay it back, is almost core to our daily lives and keeps our economy humming along. There are three main reasons why people borrow money. While businesses – and governments – borrow regularly, personal borrowing is often considered...