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PFEEF White Paper on "How to Motivate Employees to Change Personal Financial Behaviors"
PFEEF has written a White Paper to help financial program providers understand how to motivate employees who are not yet ready to take that first step toward a better financial life. The strategies are based on the successful "Stages of Behavior Change Model" developed and tested by Prochaska and colleagues for more than 30 years. Read it and learn!
Click here: http://www.personalfinancefoundation.org/questions/Strategies%20on%20Website%20Oct%2008.pdf
Ironically, those individuals most in need of financial education are most likely to avoid it. Simply put, those who are not ready to learn about improving financial practices are not likely to attend financial education seminars or workshops, nor will they participate in online learning. Even if they do become somewhat engaged, they are not yet ready to put the strategies learned into practice in their lives. PFEEF conducts research on stages of change, and we can recommend consultants who can advise on communications messages. |
| FAVORITE QUOTE
A quote from Ernst & Young's Bill Arnone on the likelihood of employers providing basic financial education to employees, "If not now, never!"
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| NUMBERS
By the end of 2009, banks are likely to write off a record amount - up to $96 billion, or about 10% - of all credit card debt, says Innovest Strategic Value Advisors, a research firm that was among the first to predict the mortgage meltdown. The credit card market is a fraction of the size of the mortgage world, but its collapse could threaten some issuers' solvency and make it harder for others to absorb financial shocks, says Gregory Larkin, a senior analyst at Innovest. "Mortgages were simply the first storm to make landfall," Larkin says. "Credit cards are next."
USA Today, November 10, 2008, p 2A
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 "Featured Partner - Best Provider "
Financial Wellness Group Online program takes an integrated learning approach using sound principles of financial management and making them simple and memorable, motivating employees to take positive action in their lives. Training is delivered in "bite sized" segments that can be delivered in a highly scalable cost effective way.
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