Employees need help with their money and they appreciate everything an employer can do to help with personal finances. Creating a personal budget is something many people need help developing.
It seems strange to an older person, but a newly hired employee, a beginner from the school with excellent technical skills, may never have created a personal budget in his life. They live from day to day on Ramen noodles and live in a dormitory. Now they are in the workforce and they are not really sure how to handle their finances.
Simple budget rules
It’s not tricky, and there are some rules of thumb to follow to create a budget. An example is the budget 50/30/20. The division is simple:
- 50% of income goes to needs,
- 30% of income goes to needs,
- 20% goes to savings and possible debt repayment.
The challenges that arise are about having problems allocating your money in one of these categories. Needs may include computer streaming services, Wi-Fi and smartphone charges, and requests may include lifestyle accessories such as backpacks or exercise equipment. It can be in all possible areas. Danger can arise when an inability to budget affects financial well-being. This is when a young person will panic and make decisions that are not in their best interest. Employers can do their workers a favor by helping a little to create order out of possible economic chaos. Nationwide prepaid legal services provide a financial well-being benefit that can eliminate a lot of stress.
The help of an experienced veteran
Our help comes from a nationwide network of certified advisors. These are experienced financial experts who deal with everyday money problems that people experience. They know how important it is to help plan members create a certain structure for their income and expenses. Helping with a budget is one of the necessary services.
An advisor looks at the plan, reflects the cash flow and decides where the income comes from and the costs. It is possible that a little fine-tuning solves many problems. The advisor will explain what to do to find out the money. For example, some people have college debts and medical bills to pay for, and they worry about getting the money to go together. Our advisors will address both issues, and the budget they help design eases a lot of stress.
The customer is part of the process
Our customers are involved in designing a financial well-being plan. Countrywide shows all available options and explains each one. We answer questions and point out what each service does to improve an employee’s financial situation. We then take a step back and let the decision-makers decide what will be in the organization’s financial wellness benefit. Countrywide will not support one service over another but will allow the customer to choose the options that best serve their employees. What we provide is superior administration and membership services that emphasize courtesy and respect.
Employers get a significant advantage when they offer a financial health plan. We are going through a major notice period in our economy. With employees leaving companies for better opportunities. Retention is a major problem for many organizations. Our financial well-being plan is a way of convincing an employee to stay with an organization. The assistance shows a concern on the part of the employer that many employees appreciate. Of course, we can not guarantee that our benefit alone will stop people from seeking other employment. Nevertheless, economic well-being is recognized as something people want help with, and our plan is responsive to the need.
Are you interested in what we have to offer? We hope you are and if you would like to sit down with us to discuss our benefits, please feel free to contact us at your convenience. We look forward to talking with you and we invite you to ask as many questions as you want about our benefits. We welcome all opportunities to help.