We are in the Wild West phase of financial wellness. No one area of financial wellness is emphasized by a majority of employers. For employers tackling financial wellness in these early stages, here’s my advice for cutting through the confusion.
It’s time to pause, take a step back, and reset your feelings and expectations when it comes to dealing with your money. This fundamental shift within you is what will make other important changes possible.
If you’re about to be married, should you insist that your partner sign a prenup? It depends.
Now that your long-term financial security is about to become a team project, it’s time to make a habit of thinking in terms of steps to you can take together, rather than separately.
No single wellness benefit drives retention, but taken holistically, wellness benefits show your company cares. And that does drive retention.
Unexpected expenses happen all the time, but if you have a cushion of savings, these unexpected expenses don’t have to derail you.
If you want to work towards your longer-term financial security, you need to free up funds to do so – but how? One suggestion: participate in the “sharing economy,” now dead simple, thanks to the Internet. By sharing, renting, or bartering, you’ll reduce your expenses and/or earn a little extra income. Before you know it, you may find yourself with extra funds to fatten your savings account or invest in the other building blocks of your financial security.
As a child, you watch how your parents manage their money and absorb those lessons unconsciously. And, sometimes those unspoken lessons can be damaging.