Financial Wellness

Financial Wellness is a state of well-being where an individual has achieved minimal financial stress, established a strong financial foundation, and created an ongoing plan to help reach future financial goals.

Seven out of 10 American workers say finances are their most common cause of stress. Financial pressures can impact productivity, engagement, absence rates, retention and even employee health. Financial wellness often falls under a typical fear/avoidance/stress cycle. People generally avoid managing financial wellness because it is fraught with personal taboos, takes time and effort, and people often lack confidence in their financial literacy.

Common concerns:
  1. Emergency savings for unexpected expenses
  2. Retirement confidence
  3. Meeting household expenses (cash flow, budgeting and debt management)
Financial stress impacts work:
  • Twenty percent of employees report that issues with personal finances have been a distraction at work.
  • Thirty-seven percent say that at work each week, they spend three hours or more thinking about or dealing with issues related to their personal finances.
  • Seventy percent of HR professionals indicated that personal financial challenges have a large or some impact on their employees’ performance, mostly citing stress and distractibility as the main factors

UC Davis Financial Resources:

Schedule a free financial education workshop or series for your staff:

UC provides free financial and retirement education to all employees. Fidelity Retirement Planner, Rand Erickson, is dedicated to UC Davis and is responsible for the financial and retirement education of staff and faculty. Rand provides classes that can help you get the most from your UC Retirement System including the 403(b), 457(b) and DCP Plans. He also provides classes on creating a budget and eliminating debt, investing basics, college savings, estate planning, and social security. View a list of available classes here. To schedule a class or series of classes for your group, contact Rand at

Financial Literacy Resources:

  • Our financial partner, SAFE Credit Union, has offered UC Davis affiliates a remote access Financial Fitness Academy so we can be financially well, no matter our availability or schedule.This quick and easy online tool with short topical modules is free and covers various financial topics at a basic level with intuitive learning processes.Topics include; savings, checking accounts, credit cards, scores and reports, retirement, investments, auto loans, mobile payments, estate planning, overdraft, taxes, insurance, home ownership, identity protection, mortgages, social security, financing higher education, 529 plans and a budgeting tool.Try it out!
  • a product of the Federal Financial Literacy and Education Commission with numerous tools, quizzes and step-by-step information on building financial security.
  • National Foundation for Credit Counseling: the nation’s largest and longest-serving nonprofit financial counseling organization. The NFCC’s mission is to promote the national agenda for financially responsible behavior, and build capacity for its members to deliver the highest-quality financial education and counseling services.
  • Consumer Financial Protection Bureau: offers clear, impartial answers to hundreds of financial questions. Find the information you need to make more informed choices about your money.
  • Consumer Finance, Paying for College: whether attending college soon, a current student, or already have student loans, find tools and resources to help you make the best decisions for you.
  • The Simple Dollar: a place where anyone can acquire financial information on finding the best products and services, saving money, making smart investments, and controlling personal finances.
  • The Ultimate Guide to Paying off Student Loans
  • How to Budget for More Happiness
  • Mom and Dad
  • Fidelity Webcast Hub  Free live and recorded webcasts on financial wellness

Action for yourself: