Financial wellness programs

From: Financial Consumer Agency of Canada

Financial wellness, physical wellness and mental wellness go hand-in-hand.  Many employees are stressed about their finances, which can impact their physical and mental health, and their workplace productivity.

Financial wellness programs in the workplace include supporting your employees with their “complete financial picture” in order to reduce financial stress, strengthen their financial literacy and improve their financial well-being. 

Financial literacy: the Financial Consumer Agency of Canada (FCAC) defines financial literacy as having the knowledge, skills and confidence to make informed financial decisions.

Financial well-being: there are many different definitions of financial well-being.  A commonly accepted one is being able to meet current and ongoing financial needs; feeling secure about your financial future; and being free to make choices that allow you to enjoy life.Footnote 1

Organizations need strategies, tools and resources based on best practices to develop an effective financial wellness program in the workplace that will help their employees develop healthy financial habits for both the short and long-term.

Learn more about Why your employees’ financial well-being matters and how to get started on developing your workplace financial wellness program.

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