Financial Wellness Amidst a Pandemic

Ramsey Solutions conducted a financial wellness study titled the “2021 SmarDollar Financial Wellness Benefits Study” earlier this year and found that “employers have never been better positioned to help their employees than they are right now through the power of financial wellness.” 77% of employees surveyed stated that the pandemic had a large impact on their mental health, and 68% of employees surveyed stated that the pandemic had a significant impact on their financial health. It is evident that both business and their employees were hit hard this last year, and now is a better time than ever for employers to help their subordinates. As stated in the article, financial wellness is when employees:

• Have control over daily finances

• Have enough cushion for financial emergencies

• Have limited debt and can control expenses without a credit card

• Are on track for their financial goals

Financial wellness impacts every aspect of our lives, and this study highlights the importance of an employer’s role in their employee’s financial wellbeing. For more information on this article and the importance of financial wellness, visit: Employee Financial Wellness Can Wait No Longer.

Written By: Your Financially Fit Employees Team