(n): Fi•nan•cial Well•ness
WORD ORIGIN: Invented by Financial Finesse in 1999
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
Without clear standards, we run the risk of the Financial Wellness movement becoming a Trojan Horse for financial services providers to sell the same old products in the name of Financial Wellness.
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
Want to know more about how to build a
true Financial Wellness program?
Explore the first online Financial Wellness course approved for CE Credits.
Learn the best practices and strategies behind the award-winning programs of Nestlé, Viacom, Aetna, and the NFLPA.