Financial Wellness
Financial Wellness is a mind set we can help you achieve.
Importance of Financial Wellness
An increasing number of Australians are living with significant money worries.
Financial wellness is about employees ability to proactively manage their short-term finances and their long-term savings.
Financial wellness is a mindset forged from the way a person evaluates their finances and how it makes them feel – it’s not about being rich.
The Statistics
Financial stress can happen to anyone, even those who try and manage their money well.
2,000,000 Australians don’t pay off their credit card in full each month
Of households don’t breakeven at the end of each week
In the last 10 years home prices have increased by 147% while incomes grew by 54%
$50,000,000,000 is the total amount of credit card debt
Australians owe a total of $1.8 trillion to banks – that’s $80,000 for every man, woman and child in Australia
The average first home loan has doubled from three times the average annual income in 1996 to 6 times the average income now
ME Bank (2014) Australian Household Financial Comfort Report
Employers are impacted by financial stress
Financial stress is a significant problem for Australian employees, and it comes at a high cost to employers.
Employees who are financially stressed are less satisfied with their lives, less engaged with their employers and ultimately are more likely to underperform at work.
AMP (2016) Financial wellness in the Australian workplace
Effects of financial stress in the workplace
Health Implications
Employees who have high stress may experience:
44% greater chance of suffering form migraines
500% increase in anxiety & depression
AP-AOL/ABT SRBI Health Poll
Stress in the workplace
44% of employees worry about finances while at work
Increased levels of presenteeism: at work but not focused their job
APS Stress and wellbeing in Australia survey: Australian Psychological Society Report
Our tailored Financial Wellness Program can help
Out financial wellness program is customised to each individual.
Our program is designed to build employees financial acumen and knowledge for informed financial decisions.
Employees then determine what they want to change.
Personal Financial Wellness Scale
Financial knowledge modules
Personalised financial consultation
Online digital tools
Strategy guides
Success: Implement change