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5 Ways to Promote Financial Wellness Month at Your Workplace

6 min read
Last Updated on 30 November, 2023

The holiday season has ended, and everyone is returning to the hustle and bustle of their daily lives. But, you must welcome the new year by returning to your regular routine after all.

Now, since January is the traditional month for making New Year's resolutions, many individuals are trying to figure out how to eat better and exercise more.

But we mustn’t forget to look at our financial health too, and it is a time to pay attention to your finances and review your spending and saving methods. And it can’t get better than the fact that January is Financial Wellness Month. You can now start reviewing your financial planning for the coming year.



As long as there has been money, finances have been a source of anxiety in human lives. It is the key to fulfilling our materialistic demands. Having said that, if it is not properly managed, it can also lead to a source of frustration.

“A person either disciplines his finances or his finances discipline him.” – Orrin Woodward.

Therefore the need for financial literacy. Financial literacy is another name for financial knowledge. It's important because it gives you the skills and information you need to be successful in managing your money.

Every January, we mark Financial Wellness Month. This month aids in preparing your money for ongoing costs and any unforeseen bills in the future.

Employees and Finances

Finance includes the use of money and supply, management, and investments. This implies that it addresses how you make money and spend it.


Wealth consists not in having great possessions but in having few wants. ~Epictetus

  • Employees often want financial help with saving for retirement, paying off student loans, covering medical costs, and budgeting or spending.

  • Employees need to comprehend the importance of financial wellness the most. Employers must place a high priority on educating employees about it.

  • Employees who are struggle financially are less productive at work.

Thus, Employers need to educate the employees on financial wellness. Employers can educate their employees by organizing financial wellness programs.

Financial fitness is not a pipe dream or a state of mind. It’s a reality if you are willing to pursue it and embrace it.– Will Robinson

Stats and Facts


  • According to Prudential, 24% of Americans are behind on their obligations, and 9% have missed a rent or mortgage payment.

  • Employees demand financial wellness benefits, including identity theft protection, after-tax emergency savings accounts, and financial coaching services.

  • Compared to 32% of workers without access to financial wellness benefits, 44% of those with access feel very hopeful about their financial future.

  • According to a study by Forbes, employees prioritize expert assistance when selecting a financial wellness program, demonstrating how significant direct financial professional counseling is to them.

  • Seven out of ten workers believe financial wellness programs have decreased stress and enhanced employee loyalty.

5 Simple Ways To Promote Financial Wellness

People make resolutions in January while focusing on physical health and practicing mindfulness. And often, they ignore their financial health. Infact, January is the perfect time to review your overall financial life.

Financial stress is the leading cause of stress among employees. There is a strong correlation found between financial, physical, and mental health.

Therefore, a financial wellness program is one of the most common employee wellness programs. Because nowadays so, many employee engagement firms understand its advantages.

Many entrepreneurs struggle to understand payroll taxes, health care, and other thorny issues… In other words, they don’t have the financial literacy to scale their businesses and attract investors. ~Daymond John, CEO of FUBU and Sharktank host

A few best practices are below to get your teams involved in Financial Wellness Month.

1. Identify the requirements and interests of the workforce.

Engage your staff in conversation to learn what they hope to achieve from financial wellness benefits. Understanding the particular requirements of your teams will enable you to interact with them. It can be whether through surveys, office hours, or an open forum.

  • Ask your staff: Do they need assistance with retirement planning?

  • Are they paying off consumer debt or college loans?

  • If they are preparing for marriage or expanding their family?

  • Do they require assistance to comprehend investments?

  • Or know how to benefit from tax-favored accounts like FSAs, HSAs, or 401(k)s?

If these questions match theirs, proceed to our second pointer to find their solution.

2. Offer them the 401(K) Plan

  • Retirement Plans: In a time when employers are cutting benefits, set yourself apart from the pack by thinking carefully about a 401(k) plan. If you're in a position to do so, consider saving up some extra for your employee's retirement account.

Ensure your staff members (and prospective hires) know the psychological advantages and tax benefits of 401(k) savings.

  • Health Savings Accounts (HSAs): Ensure employees know how an HSA operates, just like a 401(k). This way, they can benefit from its tax advantages and potentially accumulate funds for future medical bills.

  • Invest in Tax Education: One approach to ensure your staff members get the most out of your services is to provide them with year-round education on 401(k) and HSAs. Service providers frequently offer an instructional session before signup, but continuing education might benefit those who missed it and any staff members with unanswered issues.

To explain these and educate them properly, proceed to pointer 3.

3. Educate them about financial literacy


Raising awareness is the first step in getting people involved in their financial journeys. The month of Financial Wellness is a great time to teach your staff about how to manage their finances. HR groups can:

  1. Organize a speaker to discuss fundamental financial principles (such as budgeting or investing)
  2. Organize a monthly session to discuss typical employee finance inquiries (such as saving for retirement, maximizing by tax savings, saving on credit card bills, or starting a savings account)
  3. Send staff members a list of suggested blogs, books, or podcasts.
  4. Encourage them to plan for the future they want.
  5. Ask them to make a spending budget and stick to it.
  6. Encourage them to bring lunch to work.

4. Provide a discount scheme for employees

Offering employees negotiated savings on technology, house and auto insurance, local attractions, and even technology is a terrific approach to help them keep more of their money.

Some businesses go one step further by offering voluntary employee purchase programs that let workers make payroll deduction purchases of household goods and educational services. By imposing spending restrictions, these financial wellness activities assist employees in taking charge of their finances.

5. Construct a meritocracy

The best way to match your business goals with the financial objectives is through merit-based pay, which includes salary, perks, vacation, bonuses, etc.

Because stress and productivity are positively correlated, your most productive employees may benefit most from a stress-relieving vacation (provided there are no financial concerns). Others might benefit from housing loan help. Develop loyalty among your top employees, or pay a far higher price.

Read: Financial Stress : A Big Deterrent On Employee Wellness And Work


We have to rethink how to teach financial education in the 21st century. ~Elizabeth Warren.

Your financial well-being won't improve overnight. Furthermore, sticking to any financial resolutions won't guarantee to reach your goals.

Your resolutions, however, can assist you in putting better money management practices into place and moving closer to your financial objectives. Sticking to them is the key.

Make a plan for keeping your resolutions when you make them. Do you require daily reminders through email? Should you ask a buddy to help you stay on course? Determine what is required, and then begin to bring about the change. Consider working with an advisor if it involves consulting a financial advisor.

This article is written by Daina Barman who is a content writer and marketer at Vantage Circle. Besides being an epicure trying to cook every dish possible, she likes to dance her way around everything. To get in touch, reach out to

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