The PFW Scale™ is an eight item survey, which is a reliable measurement of perceived financial distress/financial well-being. It provides the user with a score, which has been scientifically determined to be a valid and reliable measure of one’s perceived personal financial wellness, as well as measure for employees learning progress during the financial literacy
Poverty is most often assessed using objective measures such as absolute and relative income levels. However, different individuals may experience different levels of financial stress at the same income level. Studies have found that the perception of income is only moderately correlated with actual income level and that it is the perception itself that relates
My eyes are hot and tearful. I’m trembling, as my gasps for air grow increasingly difficult. I’m trapped.
Employees fully engaged in a financial wellness program can experience significant improvement in a short amount of time, particularly for those who are financially stressed, a new study suggests.
Financial Finesse’s “2019 Financial Wellness Year in Review” finds that employees who engaged in online, group and individual coaching with respect to
Over 22 million people have filed for unemployment, thrusting the United States into the worst crisis since the Great Depression, while other Americans worry that pay cuts and layoffs are on the horizon.
“Job loss can feel like a threat to our stability and survival,” Amanda Clayman, a psychotherapist
When do employees most need financial advice? In moments that matter, like what we’ve been experiencing with the global COVID-19 outbreak and recent market volatility.
The market swings of the past month have created anxiety for all investors. With financial concerns being the No. 1 workplace stressor, the decline in
With unemployment on the rise and many businesses unable to operate, this is a tough financial time for many people. But if you’re fortunate enough to not have your family income reduced during this pandemic, there are some opportunities to protect yourself from a future loss of income and grow your long-term wealth. As former
Seven in 10 Americans struggle with some aspect of financial stability, whether it be starting a savings account, managing bill payments or curbing spending habits. A 2017 survey from Bankrate revealed more than half of Americans don’t have enough money saved up to cover a $500 expense. For many people,
It’s not just business- It’s personal!
In the US, work is life and life is work. Work and life are so tightly intertwined that there is no effective way to keep them 100% separate. US employees work an average of 34.3 hours per week. That means that your employees likely spend at least 31% of their waking
- 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
If you had a choice, what’s better: Free snacks and massages, or a financial wellness program that can address the No. 1 concern of your employees — financial stress?
The Aha Moment In Waiting
The transformative nature of employee financial wellness is still not widely appreciated in corporate America. There hasn’t been a fundamental shift in
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
About 48% of those surveyed consider this achievement a sure sign of success.
How do you define success? When Northwestern Mutual conducted its 2019 Planning & Progress Study, it asked people to pick five attributes that they feel are signs of success. The top two answers came as no surprise: spending quality time with family and being
According to the new Financial Wellness Survey from KeyBank, 75% of consumers consider themselves financially savvy, with 41% stating they’re savvier than most or consider themselves an expert when it comes to personal finance. Despite this, more than half (54%) admit they have made a financial “faux pas”—referring to a money “false step” or error—and
In MassMutual’s 2019 Workplace Financial Wellness Study, survey data gathered by Greenwald & Associates reported that a large majority of employers believe their employees are struggling financially in saving for retirement, settling debt, and dealing with medical costs.
As part of a 2-phase study, the study’s approximately 15-minute online survey served as the
The vast majority of employers think workers are struggling to manage their personal finances. And while bosses are doing more to help alleviate their financial struggles, companies are still falling short.
Nearly 8 in 10 employers offering a workplace retirement plan such as a 401(k) think their employees are hurting financially, according to a recent survey
Financial wellness differs from financial literacy. Clearly, Financial Wellness and financial literacy are not the same things. Surprised? This author was, too. But it turns out there’s a major difference between being financially literate and achieving financial well-being.
Essentially, there are some of the fundamental differences between financial literacy and financial wellness. Financial literacy means the