Community Outreach - Financial Education

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"Thank you so much for you presentation on Financial Wellness to the Deer Valley Lodging staff. It was greatly beneficial to those who attended. The additional resources you left will also help our employees."

Financial concerns can disrupt someone's life on and off the job. As the global financial crisis continues, smart businesses will do what they can to help address their employees' financial stress. Increased costs for basic necessities—food, fuel, health care, housing—are stretching families to the limit. The credit crisis is squeezing working people at all income levels, resulting in unprecedented numbers of bankruptcies and home foreclosures. Help your people eliminate personal financial stress so they can feel and perform better.

The financial instability of your workforce will affect your business’ bottom line. Studies show that employee financial problems result in lower job productivity, increased absenteeism, increased substance abuse, and high turnover – all of which impact a company's profitability. In addition, when people are dealing with significant debt, they are much more likely to report health problems. The stress caused by overwhelming debt can also have a devastating impact on the well-being of children. Businesses that recognize that it's more expensive to ignore their employees' financial difficulties than to address them head-on have developed strategies to bring financial education and credit counseling/debt management, and other financial services to the workplace.

Access to High-Impact Tools and Resources

• Educate employees in sound financial principles
• Assist employees in the process of overcoming their financial indebtedness
• Help employees identify and modify ineffective money management behaviors
• Guide clients in developing successful strategies for achieve their financial goals
• Support clients as they work through their financial challenges
• Help clients develop new perspectives on the dynamics of money in relation to family, friends, and individual self-esteem
• Financial calculators
• Monthly newsletters containing rich content
• Onsite financial education workshops
• Information and referrals to other community resources
• Access to IDA matched savings accounts

Benefits to the Group/Employer

Groups and employers benefit from a financially educated workforce in several ways. Research suggests that a well-executed workplace financial education program is likely to:

• Reduce Absenteeism
• Moderate turnover rates
• Decrease direct employer costs related to wage garnishments, bankruptcies, payroll deductions for child support and alimony, and administrative costs for borrowing against retirement plans
• Increase employee productivity
• Increase contributions to the company 401(k) program
• Increase employees' allegiance to their company
• Reduce the incidence of employee theft

Benefits to Individuals/Employees

• Change behaviors that negatively affect job performance
• Build assets and reduce debt
• Gain appreciation for and participate at a higher level in employer-provided benefits
• Adequate Retirement Preparation
• Improved family and social relationships

Below are some of our most popular financial education training workshops and classes on-demand:

• Financial Goal Setting
• The Wise Use of Credit
• Debt Management
• Budgeting Development & Money Attitudes
• Homeownership (Pre-Purchase /Delinquency)
• Organizing Financial Records
• Accessing Mainstream Financial Services
• Understanding Credit Reports & Credit Scoring
• Holiday Spending
• Guard Against Identity Theft & Resolution
• Car Buying
• Consumer Protection
• Monitoring Debt-to-income ratio
• Bankruptcy Alternatives

Costs

• Costs vary depending on the number of participants (Special reduced rates available for non-profit organizations).
• Studies indicate a return on investment (ROI) of up to 3:1 to the employer in increased productivity and reduction of direct costs.

Financial Management Skills Training

ConsumerCents® is an online, personal money management program that can help your employees learn smart ways to manage their finances. It is a valuable resource that people can use to learn about financial topics, better manage their money, handle their credit, and learn where to go for advice.

ConsumerCents.com contains free downloadable money management guides and on-demand classes, financial calculators, and links to additional resources. ConsumerCents® also features interactive on-demand workshops which teach financial management skills.

Getting Started

The goal of workforce financial education is to change and improve behaviors and skills, not simply to provide information. These must-have employee benefits are easy to set up. Get started now by completing the intake form above or contact us at education [@] faircredit [dot] org or call 1-800-351-4195 ext 356.