The economic impact of Covid-19 amplified the crisis situation facing many working families. Pre-Covid-19, 78% of the population lived paycheck-to-paycheck and 69% of Americans didn’t have $1,000 to cover an unexpected expense. These staggering statistics indicate that the financial fragility of our country is both pervasive and widespread. Living paycheck-to-paycheck means that the people in…
A common assumption today is that salaried employees are generally financially secure. They have a job, likely a 401(k) plan that they contribute to, a budget for maintaining their finances, and more. However, what many people fail to realize is that a lack of savings for unexpected expenses is the primary cause of financial insecurity…
“Business leaders should be thinking more about their employees’ financial wellbeing, says Marion Mathes, co-founder and CEO of Florida-based financial wellness company CreditWorks.” Read the complete article here.
“According to PwC, today’s employees are unprepared for an extended economic downturn or recession, with more than one-third of full-time employed millennials, Gen Xers, and baby boomers having less than $1,000 saved to deal with unexpected expenses. CreditWorks CEO and Founder Marion Mathes shared her thoughts with BenefitsPRO on why financial wellness programs are essential…
“Banks are tightening up their loan approval processes amidst the current economic crisis. CEO and Founder Marion Mathes shared a few thoughts with Match Financial about what to do when you’re turned down for a personal loan.” Read the complete article here.
The Case for Employers to Invest in Employee Financial Health. In a new survey of 1,000 full-time employees of mid-sized and large U.S. firms, the Financial Health Network finds widespread evidence of financial fragility. This financial stress has spillover effects on employee productivity. Employers have an opportunity to reduce employee stress, improve retention and engagement,…