1 Tip #1: Teach the basics

Tip #1: Teach the basics

If you have built a business, you understand the importance of being financially fit. You can’t get lines of credit or loans if you don’t demonstrate a good business model or healthy business performance. Any sized company can host a series of short (in person or virtual) Lunch & Learn financial literacy courses on:

Budgeting — It’s one of the easiest things to do but not a step enough people take. Sometimes it’s because they’re afraid to see their money situation but taking a frank look at finances is the only way for anyone to improve their financial situation.

Emergency savings — One of the reasons people live paycheck to paycheck is from amassing highinterest debt to cover unforeseen

expenses. It may seem impossible to build an emergency fund but we can show it’s possible. Retirement savings — We know the importance of starting early. It’s important to demonstrate that for our employees and show them what they’re working toward.

Consumer protections — This is especially important for younger employees who have large digital footprints.

Credit scores — There are so many services that tout free credit reports and ways to boost your credit score. Having been around the block a few times, you can help your employees separate fact from fiction.

These topics may seem basic, but chasing a paycheck can become an endless treadmill that is difficult to stop. Understanding the basics of financial wellness is an empowering first step for employees to take back control.