A whopping 93% of US workers think their employer should offer financial wellness tools — but don’t wait on your boss, here’s how to take the lead now

In today’s economy, where inflation is eating into paychecks, tariffs are raising prices and uncertainty clouds job security, the need for this type of support is pervasive.

But here’s the catch: are employers actually listening to what their workers want?

Financial wellness by the numbers

The data paints a clear picture: companies that invest in financial wellness reap serious rewards.

According to Bank of America’s 12th Annual Workplace Benefits Report [2]:

• 84% of employers say these benefits help retain top talent.

• 81% say they help attract new employees.

• And 80% employers credit financial wellness programs with boosting loyalty, engagement and productivity.

It’s not just a nice-to-have; it’s a business strategy that pays dividends.

The numbers get even juicier when employers bundle financial wellness with mental and physical health benefits. Those employers report improvements for employees in:

• Productivity by 50%

• Stress by 43%

• Morale by 41%

• Creativity and innovation by 36%

In other words: happier, healthier, more productive employees. That’s the holy grail for any HR department.

So, if it’s such a win-win, why isn’t every company doing it?

The reality is only about 28% of employers offer financial wellness programs according to a Transamerica report [3]. That means nearly three-quarters of American workers are left without such supports, despite wanting these programs.

Take your financial well-being into your own hands

If your workplace doesn’t offer these programs, don’t panic. Thanks to the explosion of fintech tools and nonprofit resources, you can start building your own DIY financial wellness plan right now.

Learn the basics: While financial literacy may not have been part of the curriculum when you were growing up, you can familiarise yourself with basic financial principles. Knowledge is still one of the cheapest and most effective financial tools you can use. But while there’s no shortage of advice out there, not all of it is trustworthy, so stick with reputable, no-cost resources such as:

• The FINRA Investor Education Foundation offers unbiased investing and money management guides [4].

• The National Endowment for Financial Education (NEFE) provides practical courses and tools [5].

• Many local credit unions also offer free debt counseling and workshops, which can be a great community resource.

Build a budget: A budget is the backbone of financial stability, but too often, people treat it like a crash diet: restrictive, unsustainable and abandoned after a few weeks. The trick is to make budgeting automatic and frictionless.

Apps such as You Need a Budget (YNAB) do the heavy lifting by tracking your spending, flagging bad habits and helping you set realistic goals.

With inflation still high, a smart budget is your best defense. Think of it as giving every dollar a job before it slips through your fingers. To stay on track with your progress, consider using a net worth tracker.

Tackle debt: Debt is a productivity killer. It drains focus at work and keeps people up at night. For student loan borrowers, platforms like Tuition.io can walk you through repayment strategies, For other debts, tools like Undebt.it let you plug in balances and interest rates to chart a custom payoff plan, whether you prefer the quick-win snowball method or the interest-saving avalanche method.

Save for emergencies: Nothing derails your financial situation faster than an unexpected expense, whether it’s a blown tire, a medical bill, or an emergency flight. That’s why an emergency fund is non-negotiable.

Apps like Wisely let you set up digital “savings envelopes” and even automating just $20 a week can build into a meaningful cushion over time.

Experts recommend three to six months of expenses, but don’t let that number intimidate you. The hardest part is getting started, but once you get going, automation makes it painless. And some is better than none, so even if you only manage to save for a month’s-worth of expenses before a financial emergency strikes, you’re still ahead than you would have been otherwise.

Start investing now: Like kick-starting your savings, you don’t need large sums to start investing. Decide on your financial priorities (retirement, ETFs, education, etc.), and go from there.

So whether your company offers perks or not, you do have the power to expand your financial resilience right now.

Article sources

At Moneywise, we consider it our responsibility to produce accurate and trustworthy content people can rely on to inform their financial decisions. We rely on vetted sources such as government data, financial records and expert interviews and highlight credible third-party reporting when appropriate.