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 an Optum® International Wellness in the Workplace Benchmark Study:
- 46% of global employees are interested in a financial wellbeing programme2
- More than 40% of global employees rank saving for retirement and investing among their most important financial health concerns2
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
Introducing Financial Wellbeing
Optum® Financial Wellbeing by My Secure Advantage™ is a new addition to the health and wellbeing offerings available to you as part of the Europe BeHealthy plans. In addition to offering services that promote mental, physical and social health, the programme helps employees manage their finances today and plan for tomorrow.
Financial Wellbeing includes:
- A financial stress assessment
- Articles on budgeting, paying off debt, buying a home, saving for emergencies and more
- 20 calculators to help employees explore options and plan ahead
- Country-specific content for 16 currencies
- Translations into 11 languages
UnitedHealthcare Global is diligent about creating holistic offerings to support the whole person. Other programmes offered through Europe BeHealthy include My Wellbeing, an Employee Assistance Programme (EAP) and Mindful Matters.
Contact us to get started with our BeHealthy plans.
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Sources:
1: https://moneyandpensionsservice.org.uk/what-is-financial-wellbeing/ accessed December 5, 2022
2: Optum 2021 International Wellness in the Workplace Benchmark Study
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.