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He’s 45, married, and has three kids. He coaches Little League, votes in every election, gripes about paying taxes, and funds his 401(k). He dreams of sending his children to college and traveling during retirement.
He’s never had any financial training, so he doesn’t know what he doesn’t know. Yet he handles his family’s money, because that’s what his dad did. He has always believed that’s what dads are supposed to do.
He carries a balance on three credit cards. He thinks that as long as he makes his payments on time, there’s no need to worry.
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But, one day, his situation changed. He missed a few payments, and collectors started calling. One of them recently shamed him, and he used the mortgage money to get the nagging collector off his back. Now the mortgage is a month late, and another payment is due. He doesn’t know where to turn. He worries day and night, but he tries not to show it.
Think he doesn’t work for you? Think again.
For every 100 of your workers, 71 live paycheck to paycheck, 53 worry about making ends meet, 27 take unplanned time off or are distracted by their personal problems, and 25 waste 12 to 20 hours a month dealing with finances.
Food for Thought
What if your company joined the ranks of those offering a financial wellness program? Not just any class, but a program that provides these men and women with meaningful, useful training? A program that gives them real hope for a better future, while at the same time adding to the organization’s own bottom line?
Too good to be true? Not at all.
One survey recently said “following the recent economic downturn, 59% of employers feel a greater responsibility to help employees meet their financial goals.”
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Another study of trends in employee benefits warned that there is an “epidemic” of “financial illness” in the American workplace. The cost? Workers who waste 12–20 hours a month each cost your company $7,000 a year.
Where Do You Turn?
If you search for “financial wellness” on Google, you’ll see more than 80 pages of potential providers, all offering “can’t miss” solutions to this front-burner problem. That’s more than 800 possibilities.
So how do you choose?
Look for an energetic presentation that teaches and motivates. Find a company with years of real-life experience and a proven track record. Make them prove that their users are getting the results you’re looking for.
We believe SmartDollar, Dave Ramsey’s financial wellness solution, will pass that test with flying colors.
Interested? Find out more about how Dave is changing the landscape of financial wellness.