The word resiliency is defined as “the capacity to recover quickly from difficulties, toughness.” This is often used relating to physical wellness and stamina and the ability to recover from an illness. Financial resiliency is the ability to recover from an unexpected financial burden, like a medical bill or car repair that you didn’t see coming.
We surveyed over 26,000 full-time working adults who have employer-sponsored health care coverage, and over 20% were currently delaying medical or dental care because of the cost. Taking control of your finances shouldn’t mean the choice of being healthy or unhealthy. But unfortunately, for one out of every five insured adults surveyed, it does.
When you are thinking about getting healthy, the prescription for good health is straightforward. The core principles include eating right, staying active, and not smoking. When it comes to your finances and financial wellness, what’s the prescription to financial success?
Step 1: Survey, Your Population – understand your populations wants and needs. Take a look at your employee’s overall health and interests.
When I first heard about the “FIRE” movement, I was intrigued. It stands for Financial Independence Retire Early. This movement involves a growing community of people committed to extreme savings to be able to leave the workforce way before most of their peers.
When it comes to launching a successful financial wellness program, several factors can drive program success. Investing in a program is a significant first step, but it’s also essential to have a strategy when it comes to launching the program.