Zarah ChoudharyWorkplace benefits, including discount schemes, financial education, and access to savings vehicles, can make a significant difference in helping employees improve their financial wellbeing, according to WEALTH at work.
Discount programs with major retailers, financial guidance, and access to savings tools like ISAs and Share Plans can all play a key role in building financial resilience and providing long-term financial security.
WEALTH at work pointed out that while a mortgage is considered good debt, high-interest loans or credit card debt can quickly spiral out of control.
Consolidating debt into a low-interest balance transfer card could help reduce the time needed to pay it off and lower the total interest paid.
Financial experts advise employees to aim for an emergency fund that covers three to six months of living expenses, with even small contributions adding up over time.
Jonathan Watts Lay, director at WEALTH at work, said: “Now is a great time for employees to review their financial situation and take action to make sure they are in control of their finances in 2025.
“Proactive employers are actively working to help employees to improve their financial future, remove the stigma around money worries and utilise the support available.
“This includes providing financial education and guidance through financial coaches, as well as access to savings vehicles such as Workplace ISAs or Share Plans to build financial resilience.
“This can make a huge difference by giving people the opportunity to understand their finances, including ways to save money, learn about budgeting, manage debt, and how to boost savings and prepare for retirement.
“After all, when employees feel in control of their finances, overall wellbeing is improved which in turn can lead to increased productivity and less absenteeism in the workplace.”
