More than half
Employees working in essential jobs are in a tough place during this pandemic. While grateful to be employed, they surely didn’t sign up to be on the front lines of this crisis.
Recently, we’ve witnessed strikes at Instacart, Amazon, and
- While 42% of U.S. employees said their financial status has improved in the last two years, nearly as many — 38% — report living paycheck to paycheck, according to the results of a Feb. 11 Willis Towers Watson poll.
- The report revealed 39% of workers couldn’t come up with $3,000
There is a lot you can get done in a half-hour. Binge your favorite sitcom, take a nap or finish a chapter of a book. You can also take the first step to financial independence in under 30 minutes. Do you know your net worth? You don’t have to be a millionaire to figure it
As business leaders, it’s important to ask yourself: Are you really on track for financially surviving retirement and leaving the legacy you’ve been working so hard for?
Sadly, I’ve found that what many of us think of as golden rules for retirement planning and financial security just don’t work. Either they never did, or they’ve
The disconnect between consumers’ self-perceptions and the reality of their financial health is striking, and suggests that financial services need to be doing something different. Findings from a recent Ernst and Young study—infused with insights from behavioral economics—point toward an exciting new path forward. Digital and mobile delivery, social media, gamification
About this time each year, I expect the predictable articles proclaiming that personal finance education doesn’t work. Pundits point to poor proficiency in financial literacy “tests,” and programs that show minimal change in consumer’s behaviors to support their position. They assert this education is useless, ineffective and a waste of time, and we should stop spending
The Consumer Financial Protection Bureau, combined with a review of research and consultation with leading experts, found that financial well-being includes the following four elements:
- Having control over day-to-day, month-to-month finances.
- Having the capacity to absorb a financial shock.
- Being on track to meet your financial goals.
- Having the financial freedom to make the choices
Employers know that their workers’ financial health is causing stress and impacting all aspects of their personal and professional lives. They know that offering tools and resources to address these issues not only improves productivity but can give them a recruiting advantage in today’s job market.
They know all of this. Then why
Financial experts like to draw parallels between financial health and physical health. A well-planned budget is like a well-balanced diet, they say. Impulsive spending is like binge eating. Meeting with your financial advisor is like getting a regular physical. Sometimes, however, the relationship between financial health and physical wellness extends beyond the metaphors.
Spend an afternoon doing mental health research with Annie Harper, PhD and you might find yourself checking out the prices at a local rent-to-own store, helping a client pull his credit report, or listening as Harper speaks on the phone, convincing a student loan collection agency to restructure someone’s debt. “Some of the things we
In a time when technology has transformed people’s lives in so many ways, financial services is one area where the potential of the internet era remains largely unrealized. We’ve been hearing for decades about the demise of cash and the dawn of the digital economy.
So far, though, the traditional financial order is still standing tall.
A friend recently forwarded an article to me that profiled the following statistics:
- 70% of adults in the U.S. said they care more about their physical health than their financial health;
- 49% of men, and 38% of women, said they care more about how much they weigh, than how much debt they carry; and