As Congress pushes the debt ceiling debate farther down the road, Americans’ personal finances are worse than ever. According to a new survey by the Personal Finance Employee Education Foundation, only 24% of respondents say they have “little financial stress.” That leaves 76% who would likely benefit from a financial education plan at work. According to PFEEF, a workplace financial fitness program can not only improve productivity, but also boost morale and company loyalty.
Although the current number of financially stressed-out Americans may be at an all-time high, Judith Cohart, an expert on financial education in the workplace and president of PFEEF, says one way to reduce financial stress is to help employers have a conversation with employees about taking care of their finances. Even the simplest education plan that uses questionnaires and other personalized tools can make a difference, according to PEEFE. “When people are financially competent, everyone benefits,” Cohart says.
Register or login for access to this item and much more
All Employee Benefit Adviser content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access