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Worksite Financial Wellness

WellCents™ Next Generation Financial Wellness

WellCents™ Next Generation Financial Wellness

“End-to-end” worksite financial wellness solution that is inspired to help employees develop financial confidence and remove barriers that prohibits them from reaching their financial goals.

64% of Americans can't cover a $1,000 emergency without borrowing money.1

1.2018, Most Americans can't cover a $1,00 emergency

70% of Americans live paycheck to paycheck.2

2. 2019, 70% of Workers Live Paycheck to Paycheck

40% say they spend more than 3 hours each week dealing with personal finance issues.3

3. 2017, Mercer, Inside Employees' Minds, Volume 2

Incorporates a mobile app with advisor delivered group and 1-on-1 education

Provides coordinated advice that integrates an employer’s benefits offerings

Proactive engagement via emails, texts and on-site materials, and more

Contests and prizes are used to encourages participation

Mobile app contains assessments, interesting reads, schedule one-on-one sessions and follow action plans

WellCents™ Score benchmarks employee behaviors and tracks progress

Employer reporting provide insights into your workforce’s challenges and measures overall wellness

Financial Wellnes 101: Do You Have an Emergency Fund?

In life, surprise expenses are bound to happen. If you had an unexpected emergency expense of $400, would you be able to pay for it? If your answer is, “No,” you’re not alone. Thirty-seven percent of Americans said they would have difficulty with an emergency expense of $400.1 Furthermore, over 145 million Americans have little or no savings at all.²

With an emergency fund in your back pocket you will have the funds to pay for the little emergencies that pop up in life. Such emergencies are:

  • Job loss
  • Medical or dental emergencies
  • Unexpected home repairs
  • Car troubles
  • Unplanned travel expenses

Start your emergency fund with $1,000. Then make a goal to save three to six months’ worth of expenses. That way you’ll be prepared for the curve balls life throws your way. Try cutting back on unneeded purchases, such as lattes on the way to work or going out to lunch, and put that money towards your emergency fund.

Having that extra stash of cash also keeps your stress level down and keeps you from making poor financial decisions such as taking out a loan or borrowing from your retirement plan. 52-Week Money Challenge

Sources:
¹Fed Reserve Report on the Economic Well-Being of U.S. Households in 2019. May 2020.
²GOBankingRates Survey: 69% of Americans Have Less Than $1,000 in Savings, December 2019
ACR# 4695467 04/22

 

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