Financial wellness: What is it? How do we make it happen?

Financial wellness: What is it? How do we make it happen?

Abstract

Many individuals will place a revitalized focus on their personal finances as the country moves through and on from the COVID-19 pandemic and its economic consequences. There will be a demand for information and guidance to rebuild financial well-being and then solidify it to increase financial resilience.

The workplace is one place they will look. Employers increasingly focused on employee financial wellness pre-pandemic, and that dynamic will continue. Against this backdrop, this report summarizes and synthesizes the discussion from a roundtable, convened by the TIAA Institute and the Global Financial Literacy Excellence Center (GFLEC), that focused on the concept of financial wellness and how best to promote it in the workplace

Full content of the publication

Tags

COVID-19 Financial literacy Financial Resilience Financial Wellbeing

Authors

Andrea Hasler

Paul J. Yakoboski

Senior Economist at TIAA

Additional Information

Date published

01/08/2020

Document Type

Research

Geographies

United States

Target

General

Pages

20

Related publications

18 December 2020

Financial & Risk Literacy: Resilience in Times of Corona

Households have a great influence in the overall economy. If anything, the Covid-19 crisis is a brutal reminder of this ...

18 December 2020

Do interventions that improve financial capability work for people with low numeracy?

In May 2018 the results from the Financial Capability Lab (The Lab) were published. The Financial Capability Lab report ...

18 December 2020

Digital FinancialEducation and Literacy in the COVID-19 Context

One of the mandates conferred to the European Banking Authority (EBA), as an independent EU Authority set up to achieve ...