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When Was the Last Time You Had a Financial Health Check?

January 3, 2019

An EAP can provide the financial health check you need.

You’re not alone if you’re stressed at work, even if the stress doesn’t come from the usual sources like meetings or deadlines. Several studies have found that employees spend up to an hour of their workday stressed over personal finances, which can affect your ability to focus and perform.

While you may know you can turn to a Workplace Solutions’ Employee Assistance Program (EAP) for assistance in work-related issues, you may not realize personal financial services are also available.

Just like with any type of stress, health complications can arise when financial stress is more common than not. In fact, employees struggling with high levels of financial stress are twice as likely to experience poor overall health.

But the good news is that there is a way out and you can start that journey today. If you’re in need of a financial health check, keep reading to learn how an EAP can make a positive difference in your health and future.

 

How Serious is Financial Stress?

No matter how deep you feel you’re buried under financial woes, you’re never alone. According to a report by the American Psychological Association, 72% of Americans have felt financial stress during the past year.

However, a 2017 Bank of America report found that 86% of employees would participate in a financial education program if their employer provided them with one, which means plenty of you are ready to take action.

Would you take a more active role in managing your finances if you were provided with a personalized action plan? If your company is working with Workplace Solutions, this type of assistance is available.

There are several benefits to seeking financial freedom. Besides being able to eliminate your debt and put more into your savings, you’ll eliminate the harmful health side effects of financial stress.

Reaching out to your EAP today for help could be the first step to a healthier and happier you.

 

Your Financial Health Check with an EAP

An EAP can assist with several different types of financial situations. If you find yourself stressed because of any of the following, an EAP can help.

  • Overwhelming credit card debt
  • Uncertainty about retirement savings
  • Budget issues
  • Saving for college or paying off college loans
  • Investment opportunities
  • General financial questions

If it’s time for a financial health check, getting the ball rolling is simple. First, call Workplace Solutions to set up a time and date to speak with a financial advisor.

Next, you’ll be asked a series of questions to determine the best route for assistance. Maybe you just need to learn more about your savings and investment options or you need help coming up with a family budget that works.

Remember, utilizing the financial counseling services of an EAP is about more than just the finance coaching. Because an EAP also provides stress management support and counseling, there’s help for managing depression, anxiety, or other issues as well.

 

EAP Financial Services FAQ

We know there’s a bit of stigma and plenty of questions surrounding financial EAP services. Here are a few of the most common questions we get about receiving financial advice through an EAP.

Q: How much does this service cost?
A: This service is free of charge.

Q: Who can use this service?
A: Both you, your spouse, and your dependents can all utilize financial counseling through Workplace Solutions.

Q: What types of financial matters can my EAP assist with?
A: From small decisions to life-changing financial concerns, your EAP can offer sound advice or direct you to a professional service dedicated to your unique situation. Whether you’re looking to buy a home, consolidate debt, financially plan for your future, or can’t decide between leasing or buying a car, your EAP can help.

Q: Can the service provide me with a loan or monetary assistance?
A: No. EAP financial representatives are not able to issue loans or provide monetary relief of any kind. In certain situations, you may be referred to a consumer credit counselor or other services better equipped to help you manage your financial situation. Keep in mind that representatives are not paid commission or asked to endorse any programs or products.

If it’s time for a financial health check, utilizing the services of an EAP is a great step to take towards eliminating stress and brightening your future. Even if you’ve hesitated to use your EAP in the past, you can take control of your financial health and future with their provided assistance.

We urge you to take the first step today and reach out.