Do a quick Google search on “employee savings” or “financial benefits” and every article that pops up is all about how Americans today are struggling with their savings.
The median savings balance — not including retirement funds — of Americans under 35 is just $3,240, while it’s $6,400 for those ages 55-64. Depending on where in the US you live, that could be one month’s worth of living expenses or could be three months… It’s not enough.
That’s why so many organizations are now prioritizing financial wellness and financial education.
If we want to change how employees think about money, why not start by helping them in the place they spend the most time: the workforce.
Realistically, what does this look like?
Helping teach someone how to save money can come in a number of different ways.
Personally, we at TrueConnect like to think about teaching through experience.
Education and counseling are great but many learn best by taking the education and turning it into action. So, why not start with actionable tools that really educate at the same time?
Our partners are our greatest asset here. TrueConnect’s Financial Wellness Platform consists of a number of different programs provided by TrueConnect and by our trusted partners.
How do they encourage financial education?
Actionable financial wellness programs
Programs that provide a tangible solution for today tend to work better than simply educating. Why is that?
- Allows employees to apply concepts in the moment
- Helps employees to understand and appreciate new information
- Increases engaged and interactivity
- Helps increase collaboration internally
- Promotes self-assessment and reflection
Adding an experiential component encourages employees to make lasting changes rather than wasting time where info is in one ear and out the other.
TrueConnect’s actionable partners and programs
Helping employees save more through benefits works.
No Credit Check Advance
Access a loan up to $5k, without pulling a credit report, that may actually help you rebuild your credit score.
Credit Check Personal Loan
Apply for a loan greater than $5,000 with APRs as low as 5.99%.
Open an online banking account in minutes with no minimum balance and monthly fees.
Establish an emergency savings account and earn rewards for meeting certain savings targets.
Access the most advanced cash-back savings application that enables you to earn on everyday spending.
Consult with a certified financial counseling in person, by phone or online. All sessions are free and confidential.
Customized debt resolution solution that can get you on the path to being debt free in 2-4 years.
Save up to 80% on your prescriptions and find great prices on health and complementary products at no extra cost.
All of these programs provide guidance and a tangible solution now rather than in weeks or months to come.
Want to learn more?
TrueConnect’s Financial Wellness Platform is a no cost program that takes little effort to implement and manage which incorporates all of the above and more.
Want to learn more about TrueConnect’s Financial Wellness Platform? Click here.