As one of the core wellbeing pillars, financial wellbeing is the ability to confidently manage financial life today, while preparing for the future and anything unexpected along the way. Poor financial wellbeing has many downsides, including having a detrimental impact on our health and ultimately our ability to retire.
How poor financial wellbeing impacts our mental health?
Our recent Employee Mindset Study 2020 found that 80% of employees experiencing financial difficulty state that it impacts negatively on their stress levels and mental health.
With so many people embracing different working and lifestyle practices, it's a good opportunity for employees to better understand their financial situation, whether this means getting control of their household budget, resetting their financial goals / making alterations to financial priorities or understanding their pension better. What’s more concerning, is that some employees or family members may be facing money related stress due to redundancy, temporary layoffs, pay cuts or reduced hours.
We have developed a general, pre-recorded webinar and toolkit to help you support your employees to better manage their financial situation.
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