Joseph – Joseph comes from a family who never had a bank account. He recently started his first full-time job without a bank account of his own. He quickly discovers the inconvenience and added expense of finding locations where his paycheck can be cashed after work. Joseph and his family are not alone. Based on a 2017 FDIC survey1, an estimated 8.4 million households are unbanked. Bill – Bill appreciates the fact that he’s able to have a bank account, but it seems like the fees are...

For many, the post-holiday financial hangover is about to set in with the arrival of January credit card bills. Ouch. The National Retail Federation estimated the average consumer planned to spend more than $1,000 on their holiday celebrations1. If the average American doesn’t even have $1,000 set aside for an emergency2, and 41% of all households carry some sort of credit card debt3, you can bet, for many, the holidays were funded with plastic. Why is it particularly impactful to act now? The...

Consider the impact of seemingly inconsequential events. The prolific sci-fi author, Isaac Asimov, wrote a short story chronicling a time traveler who, back in the age of dinosaurs, stepped off the path and inadvertently killed an insect. When the traveler returned to the present time, language and the environment had changed. The insect was food for another creature, which consequently starved, and so on cascading through the eons. The eventual impact was catastrophic. Allen looks...

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...