Navigating Employee Financial Stress and Its Toll on Mental Wellbeing  It’s Mental Health Awareness Month, a time to shed light on a silent but significant contributor to mental health challenges: financial stress. The reality is many employees have experienced staring at a pile of bills, racking their brains on how to make ends meet, leading to mental health struggles.   Statistics reveal a sobering truth: more than half of employees grapple with financial stress, feeling...

The financial stress experienced by working Americans is not just a personal issue—it has significant implications for employers as well. According to our newly released sixth annual “Inside the Wallets of Working Americans” report, a staggering 60% of workers feel worried and stressed about their financial situations, with 58% feeling anxious and 46% experiencing trouble sleeping due to financial concerns. But what exactly is driving this stress, and why should employers pay attention?  In...

Employer Spotlight: Eastern Virginia Medical School  In our sixth annual “Inside the Wallets of Working Americans” report in collaboration with HR Dive, it was found 74% of employees find themselves living paycheck to paycheck, grappling with the constant challenge of making ends meet. This financial strain not only affects their day-to-day lives but also impacts their overall well-being and productivity at work. Recognizing this reality, employers have a crucial role to play in supporting...

Sixth Annual “Inside the Wallets of Working Americans” Report Sheds Light on Employee Financial Stress  In the hustle of everyday life, many of us can relate to the struggle of making ends meet, but what lies beneath the surface of employees’ financial stress? Our sixth annual “Inside the Wallets of Working Americans” report, sheds light on the stark financial realities many are facing.  The report paints a sobering picture: a staggering 3 in 4 respondents find themselves...

The Value of Comprehensive Benefits in Today’s Job Market In today’s fiercely competitive job market, where top talent is in high demand, offering competitive salaries alone isn’t enough to attract and retain skilled employees. Job seekers are increasingly prioritizing not just their immediate financial needs, but also their long-term financial wellness, making benefits a priority for employees across industries.   According to a recent survey, 80% of...

The Cost of Being Subprime In today’s financial landscape, many individuals find themselves grappling with the challenges of subprime credit. It’s a situation often brought on by various circumstances, from unexpected expenses to simply not having access to proper financial education. With subprime credit, individuals face many obstacles that can greatly impact their financial well-being. High interest rates on loans and credit cards, limited access to financing...

Bridging the Gap: How Financial Wellness Benefits Go Beyond the Paycheck for Employees In the world of employee compensation, the ongoing misconception that a paycheck alone guarantees financial well-being is increasingly proven wrong by the complex realities of personal finances. While a fair salary is undoubtedly crucial, it’s merely a starting point. The truth is that employees are faced with an array of financial challenges. This is where comprehensive financial...

Embracing Financial Wellness Beyond January  January is Financial Wellness Month, and there’s no better time to give financial health the attention it deserves. Studies continuously highlight the staggering impact of financial stress, affecting 74% of Americans, which often translates into heightened anxiety, depression, and an overall decline in mental health. These effects transcend beyond personal life, seeping into professional realms, where financially stressed employees spend an...

Setting the Tone for a Prosperous Year: Employee Financial Health   As we round out the year, this time can be stressful for Americans as they review their finances and aim to craft financial goals for the year ahead. Employees across the nation are embracing resolutions focused on securing their financial health and bolstering savings for a prosperous 2024. A recent report found 67% plan on making a financial resolution for the New Year, with the top goals being to save more, pay off...

Happy Holidays from FinFit!  Happy Holidays and warm wishes for a prosperous New Year from all of us at FinFit! May this festive season bring joy, peace, and success to you and your loved ones. As we step into the new year together, we’re excited about the opportunities ahead and continuing to support you in achieving your financial wellness goals. Cheers to a wonderful holiday season and a fantastic year ahead! Learn More About FinFit