noun
1. Financial Wellness
A state of financial wellbeing where a person maintains:
A manageable level of financial stress
A lifestyle below their means
Emergency savings fund
No high-interest debt
Sufficient insurance
and estate plan
An ongoing plan to reach
future financial goals
noun
2. Financial Wellness
A holistic employee benefit that provides ongoing and unlimited access to unbiased financial guidance and coaching, with the intent of helping employees achieve the state of financial wellbeing.
A Financial Wellness program must meet the following criteria to be considered a Financial Wellness benefit, versus financial education or financial advice:
Unbiased guidance with nothing to sell
Delivered as an ongoing process with support
Covers a broad range of financial topics from debt management to advanced estate planning
Personalized to the employee
Integrates all employee benefits
Free and unlimited access for all employees and families