Nearly 33% of Americans withdrew or borrowed money from an IRA or 401(k) during the pandemic, and nearly two-thirds (63%) used those retirement savings to cover basic living expenses. In addition to the global health crisis, many Americans are really struggling financially. Where did those payments for living expenses go? 41% said to pay medical […]
The 2 Major Consequences of Tapping Into Retirement Early Read More »
We talk a lot about financial freedom over here in the office… What does financial freedom really mean? How do you know you’ve achieved financial freedom? What does it take to feel financially free? How different would your life look if/when you achieve financial freedom? Generally, financial freedom is understood as being able to live
What Does Financial Freedom Mean to You? Read More »
Nowadays, new credit cards are popping up left and right. Paypal, Venmo, Apple, and more all have their own credit cards now, which come with different fine prints and APRs. Navigating these different options can be confusing, and some common questions we receive are: How do you know which provider to trust? How do you
Credit Cards 101: Understanding APRs and Potential Risk Read More »
2020 has changed the way many people think about money. There was less opportunity to spend “fun” money on activities like restaurants, movies, sports games, and more. On top of that, many people also struggled to pay their mandatory bills such as rent, mortgage payments, food, utilities, and others. In fact, nearly 14% of Americans
Budgeting 101: What You NEED to Know Read More »
I’d argue the worst possible way to get a loan is through a payday lender. Would you agree? If you have used a payday lender before, you know what it feels like to feel so strapped for cash that you have nowhere else to go. After all, common problems experienced with payday loans are: Absurdly
Which is Better: Early Wage Access or Small-Dollar Loan Program? Read More »
Financial wellness programs are no longer new. Everyone has been talking about them and everybody knows about them. With that said, to ensure we’re all on the same page, what is a financial wellness program? It’s typically an addition to standard employee benefits like retirement planning and investing information. Financial wellness (or financial wellbeing) specifically
What Your Financial Wellness Program is Missing…. Read More »
In 2021, student loan debt hit about $1.7 trillion across 45 million borrowers. Student loan debt has always been a burden for many. In fact, 3 in 4 respondents associate negative feelings with their loans. Of those: 41% feel frustrated 34% feel hopeless 26% feel angry 22% feel ashamed Around 150 million workers are currently
How Student Loan Debt Impacts All Organizations Read More »
Last year, HR departments had to overcome some of their biggest challenges yet. HR teams have had to: Learn how to deal with a new remote lifestyle Create and promote new policies Figure out how to track time and attendance Distinguish new communication methods The above challenges are just the tip of the iceberg. New
7 Things We Learned From 2020’s Virtual Open Enrollment Read More »
Financial wellness is a topic that has gotten a lot of attention lately. In May 2020, nearly 75% of 700 retirement plan decision-makers reported the financial wellness programs they offer were in greater demand, with 28% recording a sizable uptick in employee usage. Though many financial wellness programs today focus on things like financial literacy
3 Actionable Solutions to Include in Your Financial Wellness Program Read More »
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