H O W T O : C R E A T E A F I N A N C I A L W E L L N E S S P R O G R A M Financial wellness, simply put, is the ability to have a healthy financial life - speaking about an individual, you could also call it one’s financial health. Though it’s similar to financial literacy, the two concepts are not the same; financial literacy denotes a person’s level of financial education and skills, while financial wellness is more of a snapshot of someone’s current financial state. This would include their level of financial literacy, their current bank balance, how much they have in savings, their ability to manage their debt and how much they owe, their credit rating, their confidence when it comes to money management and so on. Considering that definition, it should be clear as to why financial wellness is so important. Even those with a high level of financial literacy won’t always be able to manage... QUBER V O L U M E 1 • I S S U E 1 • F I N A N C I A L W E L L N E S S D I D Y O U K N O W ? 80% of employees say they want their employer to be offering some form of financial wellness benefits, but only 20% of employers currently do. Report by MetLife, 2019 Nearly 20% of households earning between $100,000-$150,000 don't feel like they're in control of their financial situation. Survey by Mercer Canada, 2018 46% of employees say that their financial situation or money management is their single greatest cause of stress, ranking above their workload (17%), personal relationships (15%) and health issues (14%). Report by PWC, 2017 WORKPLACE WELLNESS • 21/01/21 Continue Reading www.quber.ca/employers • contactus@quber.ca A N O T E F R O M O U R C O - F O U N D E R , J E N L E G E R Let's face it - employees are stressed and worried. You're struggling with productivity and engagement in the office. Before the pandemic, we had similar problems, but in the middle of a pandemic, it's 100x worse. How can you help your employees right now? Give them exactly what they're asking for - an emergency cushion that will help them get through the hard times. In 2020, we made it super simple for you to help your employees build a rainy day fund, and teach them the very valuable habit of saving money. A number of groups across Canada onboarded their employees with us last year, offering tailored match-based savings programs to meet their employees' needs. Employees save money in an emergency fund, and earn automatic matched incentives through QUBER. Take a look at some of our featured clients: Levi's CANADA: https://www.redtabfoundation.org/savers-canada Momentum CALGARY: https://momentum.org/programs-services/manage-your- money/savings-app/ Building Up TORONTO: https://www.buildingup.ca/quber-2020/ If you want to invest in your employees' financial wellness this year, we're ready for you. Reach out to me directly so we can discuss your needs. Jen Leger, Co-Founder of QUBER jen.leger@quber.ca 506-988-0041 F U R T H E R R E A D I N G Financial Wellness Programs Foster a Thriving Workplace A report by MetLife based on their 17th Annual U.S. Employee Benefit Trends Study from 2019 https://www.metlife.com/employee- benefit-trends/ebts-financial- wellness-2019/ Four Steps to Building a Financial Wellness Program By Linda Lewis-Daly, an article written for Benefits Canada https://www.benefitscanada.com/be nefits/health-wellness/four-steps-to- building-a-successful-financial- wellness-program-111508 Empowering Employees to Improve their Financial Wellness A 2017 report by SunLife Canada https://www.sunlife.ca/content/dam/ sunlife/regional/canada/documents/g rs/Bright_Paper_Empowering_Emplo yees_to_Improve_their_financial_well ness.pdf Moving The Needle on Employee Financial Wellness A 2018 report by Mercer Canada https://www.mercer.ca/en/our- thinking/wealth/move-financial- wellness-needle- report.html#contactForm