Many employers offer health-related benefits to their employees, such as seminars on diet and exercise, free flu vaccines and on-site gyms, with the understanding that their employees’ improved health should result in increased employee productivity and a more positive mind set about their jobs . What’s often left out of this equation is the need to educate employees on financial knowledge. An employee who is fully informed about the financial condition of his entire household is much more likely to survive a family emergency without seriously effecting his job performance and reliability at work.
How well do you know the finances of those who share your home? That question is not limited to your spouse. It includes your adult children, parents, partner, or roommate. Knowledge of the financial condition of those with whom you live can be critical to preventing and/or surviving life’s emergencies. Due to the discomfort many experience in broaching this subject with others, people often remain unaware until a sudden foreclosure, divorce, death, bankruptcy, serious health issue or other major event leaves them without the knowledge they need to keep their head above water. At that point, it might be too late to preserve your credit, maintain the financial security you thought you had, or be able to protect yourself when you’re suddenly across the table from someone you had trusted to look out for your financial interests. These problems often leak into the work place and can have a significant impact on an employee’s focus and even his trustworthiness. The only way to truly control your future is through knowledge and that knowledge must include financial knowledge. I’ll delve more into how to accomplish this in the least painful way (for employers to present seminars to employees, or for individuals who want to tackle the issues with their loved ones) in future articles.