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Special Report

Financial Wellness

Benefits advisors and their employer clients are increasingly seeking information and guidance about offering financial wellness plans to their employees. Financial wellness can encompass many things, from financial education to voluntary products to budgeting and financial tools and more. This special report covers financial wellness from many perspectives, providing insight and strategies to help in the decision-making process.

Research

How 'money shame' can impede financial wellness

When people know they have a problem but are too ashamed to talk about it, how will they make any progress?

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man sitting alone at a lake Embarrassment can keep people from asking for help, from admitting that they have a problem, and from making any progress. (Photo: Shutterstock)

Employers looking to help their employees improve their financial wellness might consider a factor that can run under the radar—“money shame”—and sabotage their progress.

If people are doing—or failing to do—things with their money that they’re embarrassed about, and they don’t address the problem, it can booby-trap savings efforts or attempts to get or stay current with bills.

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Marlene Satter

Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.

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