Payactiv’s Post

Whether it’s dealing with inflation or debt, or trying to find wiggle room to save more discretionary income, employees spend a lot of time worrying about money. 😵 And when they’re extremely stressed about meeting monthly expenses, their entire lives are turned upside down: They’re likely to experience negative mental and physical health effects, have issues in their personal lives, and be disengaged and unsatisfied at work. MSA’s financial well-being solution helps to decrease employees’ financial worries and improve the quality of their lives through our three pillars: Money Coaching, innovative technology, and education. 🌻 With us, employees are able to get to the root of their worries, understand some of the precise issues in their financial lives that are causing them the most stress, and start improving them immediately with realistic action steps. It only takes a few Money Coaching sessions for employees to start becoming secure in their money moves. With ongoing support, they’re equipped for the long-term with the resources they need to consistently feel confident about their monthly finances. Discover more about how our financial well-being solution can help your employees decrease their money worries: https://bit.ly/4c2x7vu *My Secure Advantage, Inc., January 2024. Based on self-reported data for MSA members with high financial stress, from 1/1/23 - 12/31/23. . . . #FinancialEducation #FinancialWellness #FinancialWellBeing #EmployeeResources #EmployeeBenefits #HumanResources #HR

“Employee financial stress is at the greatest level it’s been since the Great Recession” right now more than ever "it is essential to think of your benefits offerings within the scope of a “personal finance ecosystem.” What is your company currently doing about this? I used to be one of the 58% of employees that are stressed out by their personal finances (source: PwC's 2023 Employee Financial Wellness Survey) and a lot of that time was spent stressed at work thinking about my looming debt situation. Fast forward to 2018 when I paid off $57k of debt in two years and nine months. That journey was the catalyst for creating a personal finance platform that helps individuals work towards financial stability and ultimately financial freedom. If your company is looking to help team members financially thrive, we've got you covered. Visit www.rudderfi.com today to see how our platform can help your team members with their financial well-being. More: https://lnkd.in/eUkkSvxH #financialwellness #financialwellbeing #shrm #personalfinance #employeebenefits #employeefirst

There are 5 principles that make up the Barbell Strategy to generate significant financial wealth: ⏳ 𝐓𝐢𝐦𝐞 𝐇𝐨𝐫𝐢𝐳𝐨𝐧: Long-term Financial Independence > Short-term Payday 💰 𝐒𝐩𝐞𝐧𝐝𝐢𝐧𝐠: Forced Frugality > Lifestyle Inflation ⚖️ 𝐀𝐬𝐲𝐦𝐦𝐞𝐭𝐫𝐢𝐜 𝐏𝐨𝐭𝐞𝐧𝐭𝐢𝐚𝐥: Upside Maximization > Loss Aversion 💭 𝐄𝐦𝐛𝐫𝐚𝐜𝐢𝐧𝐠 𝐑𝐢𝐬𝐤: Regret Minimization > Fear-based Decision 📈 𝐏𝐨𝐫𝐭𝐟𝐨𝐥𝐢𝐨 𝐂𝐨𝐧𝐬𝐭𝐫𝐮𝐜𝐭𝐢𝐨𝐧: Low and High Risk > Medium Risk

📈 Financial Wellbeing by the Numbers: Eye-Opening Statistics You Need to Know!📈 Ever stopped to consider what your financial wellbeing really looks like? Let's dive in. 💔 Shocking Statistics 💔 Did you know that 78% of workers live paycheck to paycheck? And the average credit card debt? It's a whopping £2,300! These numbers are hard to digest, aren't they? 🤔 What Do These Numbers Mean For You? 🤔 These stats aren't just figures, they're a reflection of our financial health and trust me, it ain't looking too good. 💡 Let's Talk Solutions 💡 It's not all doom and gloom, there's always a way to turn things around! ✨Start by setting a budget - it's simple, but it works. ✨Then focus on paying off your debt - go after the high interest ones first. ✨Lastly, build an emergency fund - it's your safety net. It's time we take control of our financial wellbeing. Are you with me? #FinancialTips #FinancialWellbeing #YourWalletsBestFriend

🌎 **Reimagining Economic Stability Amidst Job Losses** Imagine a future where digital W-2 forms are seamlessly managed through a tax app, reducing paperwork and cutting billions in administrative costs. These savings could be repurposed to support job creation and economic resilience through government-led business portfolios managed by the Treasury Department, enhancing financial returns and stabilizing the job market. Simultaneously, integrate EBT cards with these portfolios to provide $30,000 annually per individual. This $210 billion investment aims to counteract job losses and enhance living conditions, fostering community stability and dignity. This integrated strategy not only modernizes tax administration and drives financial growth but also fortifies social support, offering a buffer against economic instability and creating a more resilient and equitable society. #EconomicStability #JobSupport #SocialInnovation #TaxReform #CommunityCare #Treasury #Vegan

Giving workers instant access to their wages gives them a sense of control and eases their financial stress. When employees are worried about finances, it impacts more than just home life. Financial anxiety can lead to distractions at work and dissatisfied customers. With earned wage access, employees are empowered to take control of their financial situation, no matter what life throws at them. Learn how to become an employer of choice with EWA: https://bit.ly/3HEAsnn #EarnedWageAccess #FinancialWellness #EmployeeWellness

Only put off until tomorrow what you are willing to die having left undone. **Wednesday, October 2nd, 2024** Pre-market futures are mixed this morning, after kicking off Q4 yesterday with a port strike affecting 35% of U.S. imports and an attack on Israel from Iran, escalating Middle Eastern tensions which have grown in the wake of October 7th of last year. The Dow is -65... **💼 HSA Investing: Your Path to Health Wealth 💰** Investing in your Health Savings Account (HSA) is not just about securing your financial future, but also taking control of your health and overall well-being. Don't let the fear of missing out (FOMO) hold you back from maximizing the potential of your HSA. As a veteran Investment Advisor, I have seen firsthand the remarkable growth and benefits HSAs can provide. With rising healthcare costs and increasing medical expenses, it's crucial to proactively invest in your HSA to achieve both short-term savings and long-term wealth accumulation. By leveraging the power of compounding returns and tax advantages, your HSA can become a valuable asset in your investment portfolio. And with opportunities arising from market fluctuations and global events, it's essential to stay informed and act strategically. Take charge of your financial future and embrace the potential of HSA investing. Start by exploring investment options within your HSA, diversifying your portfolio, and regularly reviewing your investment strategy. Together, let's secure your health wealth and pave the way for a prosperous future. #hsa #investing #healthcare #health #family #wellness 💪✨📈 (Note: This response does not include HTML tags or ** symbols.)

Take our no-obligation diagnostic to ensure your workplace defined contribution and savings plan are on solid ground. https://bit.ly/3QuTku0 #wealth #governance #DefinedContribution

According to Mercer’s 2023-2024 Inside Employees’ Minds study - employees are most concerned about covering monthly expenses, being able to retire and, for lower-income workers, rising personal debt levels. In light of persistently high inflation and market volatility, financial concerns remain top of mind for American workers.  #saving #spending #debtmanagement #retirementreadiness #marshmma #financialwellbeing  https://buff.ly/3yzWLt1

💡 Without their main source of income, roughly two-thirds of individuals would have to borrow money to meet living expenses. Employers are feeling less concerned that they did a year ago about a recession or other negative economic events. Employers especially feel better about their own business' financial health. In contrast, employees are financially stressed at the time of this survey in 2023 vs 2022. This and more insights are shared in Principal Financial Group's Financial Well-being Index 2023 Wave 2 report. Yes, #emergencysavings makes an appearance. We continue to see this broader story line of employers / employees headed in two different directions. What do you think that will mean for both stakeholders in 2024? Check out Principal's #financialwellbeing report in the comments below.