Workplace Financial Education and the Positive Impact on Organisations

Personal finance can be a scary issue for many people. It can be confusing and overwhelming. To make matters worse, most Australians are so busy juggling work and life that they lack the time to give their personal finances the attention it deserves – which is the reason why most employees are requesting workplace financial education, tools and resources to help them make the right financial decisions, so they can achieve real LIFE outcomes outside of work.

Workplace financial education and advice is now the most sought after employee benefit employees want and leading employers are lining up to align themselves with organisations that can provide a trusted source of education and unbiased advice.

And don’t be fooled. Financial education isn’t designed for employees struggling to pay the bills. It’s designed for employees that have the financial capabilities to get more out of their income and investments. So we’re talking about employees ranging from the CEO down to middle management.

Investing in employee’s financial well-being makes good business sense. Why? Because personal finances impact basically every aspect of your life – from your lifestyle, relationships, attitude to your physical and mental wellbeing. So when employees lack the time or expertise to make the most of their personal finances, it affects their life inside and outside of work.

Employees who are distracted with their finances often find it difficult to focus on their work and spend valuable work time searching for solutions which directly affects their productivity and their employer’s bottom line.

What is Workplace Financial Education?

Financial education isn’t just about providing employees with information about money, taxes, investments, superannuation and so on, because information alone does not produce financial outcomes.

Employees still have to take financial information away and then apply it to their own personal circumstances which can also be very challenging. So workplace financial education won’t mean much to your busy executive if they don’t have the tools and support to help them take action, so financial coaching is also a big part of a financial education program – having quick access to a team of experts at their finger tips.

The upside will far exceed your organisations expectations

Many employers now include financial education as part of their employee benefits program. There’s a growing awareness that such programs give organisations a competitive edge whilst increasing their reputation as an employer of choice.

Workplace financial education gives employees the tools, information and confidence to make better financial decisions that can help them achieve positive financial outcomes which directly impact their personal and professional lives. It can be a roadmap to a better future.

Financial Aid For Women – More Than Just Money

These days, many women would like to finish their studies in order to get the right and better jobs for them. In this way, they will have a better future and living. However, many of them have financial problems that prevent them from finishing their courses. With this, these are many financial aids for women available in order to help them finish the course that they need.

For people who are already familiar about financial aids, most of them are educational financial aids. These are the ones that will help the students to finish their studies and earn the degree that they want. Usually, these grants would settle their tuition fees since these are the most expensive thing to pay when it comes to studying. And this is the reason why most women would just choose to work and not to finish their courses.

But if you will look closely, you will see that there are a number of them that do not only offer financial aid. There are also some groups that offer legal assistance and act as a support group for women. With this, they will be able to help each other and work together in order to finish their courses. They also offer some livelihood programs that would help them develop some skills that will help them earn some money and be active in the society. There are many institutions that offer this type of support aside from the usual that they get.

In conclusion, there are many financial aid for women available online. What the women just need to choose are the ones that will not only give them financial aid but also other assistance that is more important than money. This is a good way for them to get support and continue doing their best aside from just getting financial help for their studies.

The Seventh Step To Financial Freedom: Financial Education

Financial Education is the Seventh Step to Financial Freedom. As it is my contention that little to no financial education is preached in the grade schools or high schools, a person must learn all about finances from somewhere, or on there own. A whole host of money problems can be avoided with just a little effort on your part to better yourself with some basic knowledge on this topic. Some people turn to the internet for any and all education. You might even call this step Webucation but I will get to that in a moment. The point here is that one does not stop learning the day they graduate from high school or college or whatever. You become a better person, a better saver, a better investor, a better businessman, a better family provider, a better whatever you want to be when you keep on learning. The better your understanding of how finances work, the quicker you will reach your goal of financial freedom.

The great English author Sir Francis Bacon said it best: “Knowledge is Power”. Thanks in no small part to the internet, many people now get their education from the web… hence the term Webucation. Some of this great nation’s early pioneers thought themselves all they needed to know to start their own companies. Now it is your turn and it is going to be an a lot easier for you as all you need to do is surf the web to capture the knowledge and financial education needed to reach financial freedom.

The financial education that you need to reach the state of financial freedom will include all aspects of money such as investing, saving, compounding your return, and several financial rules of thumb such as how much house you can afford without going into too much debt. You also need to learn why it is not good to live up to the “Jones’s” as this will further delay your ability to break free from the rat race.

Once you have built up your financial education, you may be inclined to start a home based business, there is a very good chance that the internet and the Webucation it offers is the tool that is going to get you to your destination. The interesting thing about Webucation is that in addition to it being the tool that one will use to start a second business, Webucation itself is the product that many internet entrepreneurs offer as their main business. This specialty business comes with it’s own moniker: “Infopreneur”.

As a marketer of information/education on the web you will become an infopreneur! What a great business to be in! Barriers to entry are almost non-existent. All you need is a dream and the drive.

One other nice thing about being an infopreneur is that most of the products that you sell are E-books or E-products. Customers download them instantly which relieves you of any inventory/ storage/ shipping requirements that traditionally go along with selling a physical product. Of course, if you have your own website where you offer electronic information, it is also common to have some corresponding hard goods available for sale.

Start Today – Get Financially Fit!

If you’ve ever heard the numerous wealth gurus speak, they all start to sound the same, albeit with their own twist. What do they have in common? Sure, they’re all incredibly wealthy and attract large crowds wherever they speak. However, I’m specifically referring to the positive tone and the inspirational nature of their message.

Upon further reflection, the single biggest barrier most people need to overcome is their own personal attitude and development. This is the first obstacle you need to overcome if you’re going to achieve your financial dreams and aspirations.

Step #1: Numerous wealth coaches promote the power of positive thinking; negative and limiting vocabulary such as “can’t”, “impossible”, “too difficult” need to be purged out of your system.

Step #2: The next step is to build you financial education, starting with the basics. By this, I mean developing a good understanding of your assets, liabilities, income, and expenses. As you get a handle on your financial situation, you should begin to “see” the flow of your money. Is your money going into savings or investments that are building more wealth for you over time or supporting a lot of discretionary expenses? Are you living a life where you have more expenses than income to sustain your lifestyle?

Step #3: Depending on where you are financially, you need to develop a financial plan. Your plan can be as simple as setting SMART (specific, measurable, action-oriented, relevant, time bound) financial goals for yourself within a specific timeframe. Chances are, if you commit to setting a goal, you have a better chance of achieving it compared to not having the goal in the first place. If you struggle with following through, have a close friend, family member, or loved one keep you accountable.

By this stage, you are now ahead of the game and increased your chances of wealth building success. If you really want to get ahead further, you need to keep building your financial education (“invest in yourself”). How?

If you have a public library card, use it often. If not, get one and continue building your education financially. Feel free to check out my website for some of the books and products I’ve read and used over the years.

Jean Cheng
Founder, Financial Fitness Pro
[email protected]