Monday, October 17, 2022

Why You Should Invest in a Financial Literacy Course




Our financial health is on the line during this important time period of our lives. We are near the end of 2022, and with that comes an even greater perspective going into the new year. Are we financially in the best position to succeed or have we fallen behind due to circumstances being out of our control? This question is important for us to answer because awareness of where we stand will help us be more candid about where we need to go. 

Financial health is dependent upon two variables, knowledge and the ability to make good decisions. According to consumerfinance, “Financial knowledge and decision-making skills help people make informed financial decisions through problem-solving, critical thinking, and an understanding of key financial facts and concepts.” That is why being financially literate is critically important for this very reason alone. These decisions are complicated to make when the knowledge to rely on isn't there from the beginning. Think of this for a moment, according to a statistic by gobankingrates the United States is one of the few countries in the world that ranks as one of the worst in terms of financial literacy. 57% financial literacy rate in comparison to countries like Denmark and Norway that both are beyond 70%. “Many US adults lack the basic knowledge and skills required to engage in sound financial decision-making” (Milken Institute). Clearly, this is an identified problem that is being talked about and in return, more awareness is brought forward to the center of the table. The lack of knowledge to make these important financial decisions can cause not only headaches, again they can cause stress, anxiety, and in most cases regret because we identified a mistake that will cost us financially. 


Any positive change regarding our financial health can be difficult because it is confusing to tackle head on. Where to begin is always the toughest, however there are many resources available to help solve that problem. For starters, if you are employed, research and find out what your employer can offer to help with financial literacy education. If you are unemployed, simple internet searches of the topic go a long way, giving you the ability to evaluate alternatives and formulate the right questions. When doing online research, try to do some due diligence when it comes to reading information on specific websites. You can quickly check to see if a website is reliable by staying on .org sites. Always make sure to double check information that is on the site and dig deeper into other sources used to see if it holds up. Keep this in mind, currently in the United States “only six states require personal finance courses in college before graduation.” This means that for some, it may have been overlooked in the beginning when we were younger. Not many understand how pivotal it was in the beginning to get ahead. Although this may be the case, the most important thing to understand is that we can recover and that is what matters.


Furthermore, financial wellness programs for most cases help solve these issues. Many employers across the United States have recognized the importance of financial health being impacted by financial literacy. Why is it that employers are enrolling their employees into a wellness program that can help motivate positive behavior to tackle financial decisions on a comfortable scale? When employers are enrolled into a financial wellness program that they give to their employees, there are return benefits for the employees. The John Hancock study shows, “54% of the respondents say that a financial wellness program would increase their job productivity, they also are better engaged and have better retention.” That is why at Financially Fit Employees we are motivated more than ever to help employers bring a financial wellness plan to their employees that can help guide them in the right direction.  We provide an in-depth comprehensive program that helps get individuals on the right path. If you happen to be an employer or an individual, consider joining our financial fit employees program or financially fit me program for a more personal approach. 



At Financially Fit Employees we are dedicated to help bring out the best in all of our members. We want to make these financial decisions easier for you throughout your life. You will learn lessons and techniques taught nowhere else and we also have one-on-one coaching to help tailor your needs and wants to the goals you desire. Take that first step and be a part of something bigger, conquer your financial wellbeing today.


Here to help,

Your Financially Fit Team


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