Financial struggles aren’t just personal—they impact employees' work lives as well. When employees face financial stress, it affects their performance, focus, and overall contribution to the company. With 78% of Americans living paycheck to paycheck, money-related anxiety is one of the leading sources of stress, influencing both the workforce and the organizations they belong to.

HR leaders understand that competitive salaries and bonuses aren’t enough to create financial security. True financial wellness is built on compassionate, personalized support—providing employees with the education, guidance, and resources they need to make informed decisions, while offering the care and understanding to help them navigate and avoid financial challenges.

Meet Alex: A Hardworking Employee Caught in Financial Stress

Alex is a dedicated, mid-level employee who wants to do well at work—but financial stress is dragging him down. One day, he gets into a car accident and faces a $3,000 medical bill. With no emergency savings, he puts it on a credit card with 18% interest, adding to the $12,000 in credit card debt he’s already struggling with. His low credit score makes homeownership feel out of reach, and he’s skipping his company’s HSA benefit because he thinks he can only enroll during open enrollment.

At work, the strain is clear. He’s distracted, missing deadlines, and disengaging from team projects. Like many financially stressed employees, he’s even considering leaving for a higher-paying job. This kind of turnover costs employers thousands in lost productivity and rehiring expenses.

Without Financial Wellness Support, What Happens?

Without access to financial coaching or guidance, Alex’s situation worsens:

• His debt continues to grow, increasing financial stress.
• He takes a 401(k) loan, sacrificing his retirement goals.
• His performance declines, leading to negative feedback from leadership.
• He misses more work due to financial-related stress and exhaustion.
• Ultimately, he leaves for another job, costing his employer in turnover expenses.

How Financial Coaching Changes Everything

Now, imagine Alex’s employer offers financial wellness coaching. Although Alex is curious about coaching, he’s hesitant to open up to a coach just yet. So, instead of diving straight into a one-on-one session, Alex decides to attend a "Ditching Debt" live webinar first. He’s hoping to learn something useful without having to jump into personal conversations.

During the webinar, Alex is pleasantly surprised. The coaches are so empathetic, offering real, practical advice and understanding without any judgment. He feels genuinely cared for and, for the first time, thinks that maybe financial coaching could be exactly what he needs. Feeling encouraged, he books a one-on-one session. Here’s how coaching transforms his financial future:

Step 1: Creating a Plan
In his one-on-one session, Alex's coach helps him take a deep dive into his budget. Together, they identify $300 per month he can free up by making small, realistic adjustments. This alone feels like a weight has been lifted, but the real breakthrough happens next.

Step 2: Correcting Misconceptions
During their conversation, Alex mentions that he’s heard about HSAs (Health Savings Accounts) but thinks he’ll have to wait until open enrollment to sign up. His coach quickly checks his benefits guide and explains that because Alex has a high-deductible health plan (HDHP), he can enroll right now—and start contributing tax-free dollars immediately. This correction unlocks a financial advantage Alex almost missed.

Step 3: Using Smart Refinancing, Not More Debt
With his new budget and plan in place, Alex’s coach helps him explore 0% interest balance transfer cards to pay down his $3,000 medical bill. It’s not about taking on more debt, but a strategic move to avoid further interest. With an 18-month 0% rate, Alex can also set aside $160/month into a savings account to build his emergency fund and pay off the balance before the promo rate expires.

The only cost? A small 3% transfer fee, far less than months of compounding interest.

Step 4: Group Coaching to Maximize His Tax Refund
Alex attends a group coaching session on "How to Maximize Your Tax Refund." During the session, he learns practical strategies for making the most of his refund, including how to use it to boost his retirement savings. After the session, he follows up with his coach, who helps him create a plan to use part of the refund to fully take advantage of his employer's 401(k) match. By doing this, Alex not only secures more for his future but also maximizes his employer's contribution—making his refund work even harder for him.

The Results: A More Confident, Engaged Employee
With his financial plan in place, Alex sees real progress:
 
Through personalized coaching and practical strategies, Alex is building a more secure and confident future, one smart decision at a time.

Financial Wellness as Preventative Care

This isn’t just about helping one employee—it’s about reframing financial wellness as preventative care. Just like regular check-ups prevent health crises, financial coaching prevents money stress from escalating into bigger problems—like high-interest debt, retirement insecurity, and costly turnover.

For HR leaders, investing in financial wellness isn’t just about offering a benefit—it’s about building a healthier, more resilient workforce. Employees who feel financially confident are more engaged, more productive, and more likely to stay.

So, the real question is: What would your workplace look like if every employee had access to the right financial support—before they hit a crisis?
 

Author Bio

Katie Rapley is the Head of Marketing at BrightDime, where she’s spent the past three years helping HR leaders connect employees with financial wellness solutions. With a background in financial wellness entrepreneurship, Katie uses storytelling to craft messaging that resonates with both HR leaders and their teams, empowering employees to break the cycle of financial stress and achieve lasting well-being.

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