Financial wellbeing — also known as financial wellness — refers to a person’s ability to live a healthy financial life. According to the Money and Pensions Service (MaPS), it’s about having a good relationship with your money.
General financial wellbeing describes people who1:
- Receive a meaningful financial education
- Save regularly
- Use credit for everyday essentials
- Access debt advice
- Plan for retirement
Financial wellbeing is not just about money — it also plays a critical role in protecting one’s overall physical, mental and social health.
Today’s global workforce is concerned about planning ahead and saving for the future
Throughout the world, employees are stressed about finances and want employers to support their financial wellbeing. According to Zellis research:
- 77% of global employees have experienced financial stress in the past 12 months and over half (54%) said it impacted their productivity at work2
Employees who are on track to achieve their financial goals are more productive at work
Despite the value employees place on their financial wellbeing, the Optum study found that fewer than one in three global employers offer a financial health programme.
Taking steps to improve the knowledge of financial fundamentals gives employees the tools they need to:
- Better manage daily financial stresses
- Plan for the future
- Boost productivity and engagement at work
Access to financial wellbeing tools and resources can help improve financial literacy and decision making. From educational resources that boost money know-how to practical tools that help manage their finances like a pro, financial wellbeing resources (insert link to LiveWell) are perfect for anyone looking to take control of their financial health and live their best life.
On-demand, comprehensive digital platform
- Access localised and translated resources designed to improved financial health and literacy
- Navigate financial decisions with decision-trees, calculators, and worksheets
- Financial assessments for employees to check their financial health, learn their money mindset and more
- A robust library of resources designed to improve financial health and literacy and help employees learn through self-based workshops, articles and courses
Localised support
- Available in 35 countries, with relevant in-country content
- Calculators and content utilise local currency and language
- Content for topics like budgeting, loans, debt reduction, retirement and issues facing employees in their region
- Educational content available for the remainder of world
- Optional services* include
- In-country certified financial coaches provide financial planning to help member improve financial literacy in over 20 countries
- Training and seminars are available by request with content local language and content, and the ability to create custom content for an additional fee
UnitedHealthcare Global is diligent about creating holistic offerings to support the whole person. Other programmes offered through Europe BeHealthy include My Wellbeing, Employee Assistance Programme (EAP) and access to the Calm app.
*Optional services are available for an additional fee.
Contact us to get started with our BeHealthy plans.
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Sources:
1: https://moneyandpensionsservice.org.uk/what-is-financial-wellbeing/
2: Zellis. Financial worries fuelling productivity crisis, finds new research.
Non-insurance services are provided by a separate affiliate of UnitedHealth Group Incorporated under the UnitedHealthcare Global brand. Products and services may be limited or excluded by applicable law and are subject to availability. Proper functionality of the online and mobile applications and tools is dependent upon appropriate connectivity and features of the device, potentially including international calling, camera and certain other capabilities. Services provided through health and wellness programs are educational in nature and should not be construed as financial advice. Members should consult with a financial planning professional.