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Financial education in the workplace.
Productivity, health and well-being through personal financial education.
Financial stress is up in 2019 with 52% of employees stressed about their finances. With 45% of employees saying that financial matters cause them the most stress in their lives nearly as many of those whose top stress is their job, health, or relationships combined. Financial concerns may be a personal matter but they directly affect the workplace.
A financially stressed employee spends an average of three hours per week while at work on his or her personal financial problems.
There is a solution…GSP Financial
GSP Financial Solutions
Unlike most financial advisors, who primarily focus on advising their clients about specific financial products they sell such as mutual funds or life insurance – GSP Financial teaches a proven personal financial program that is based on 7 steps that allow people to get in immediate control of their spending, debt, savings and taxation. It is the only comprehensive financial management system in the industry today that helps individuals and families effectively manage every aspect of their financial lives.
GSP Financial Workplace Programs
GSP Financial provides a variety of workplace personal education training courses that are proven to improve employee performance, morale, loyalty and participation in employer-sponsored benefit program. We offer a full range of structured and custom programs that will fit your needs.
Benefits To Employers
Research clearly shows that a well-executed workplace financial education program benefits employers in several ways.
- Increase employee productivity
- Reduce absenteeism
- Decrease direct employer costs related to wage garnishments, bankruptcies, payroll deductions for child support and alimony, and administrative costs for borrowing against retirements plans
- Increase employee’s loyalty to the company
- Reduce employee stress-related illnesses and mental disorders
Benefits To Employees
Employees who participate in workplace financial education programs will benefit
employers in several ways such as:
- Change behaviors that negatively affect job performance
- Build and reduce debt
- Gain an appreciation for and participate at a higher level in employer-provided benefits
- Increase their ability to retire early or on time
From The Experts……………
“Even a small increase in an employee’s financial security can add significantly to an employer’s bottom line.”
Dr. Susan Jerkins, Idaho State University
“Don’t give employees a raise; give them access to the quality financial information, education and advice. Employers can expect $450 in positive job outcomes from each employee who slightly increases his or her financial behaviors and financial well-being.”
Dr. E Thomas Garman, and Professor Emeritus, Virginia Tech University.
‘For the employer, research studies have shown that employees who are financially healthy are more productive. They are absent less often, spend less time at the workplace dealing with financial crises, and earn higher job performance ratings.”
Governor Edward M. Gramlich, Financial Literacy and Education Commission, Washington, D.C.
“Employees who participate in workplace financial education more fully understand personal finances and recognize how financial literacy impacts their future financial expectations. In addition, employees who gain considerable literacy in financial matters and confidence in their future situation are also more likely to be satisfied with and supportive of their company.”
The Journal of Consumer Affairs, Volume 39 Number 1.
I was reviewing our bills and was frustrated that no matter how hard I tried, I couldn't seem to lower our debt. I couldn't figure out what I was doing wrong. After listening to (my YFB producer) and seeing the numbers on paper, I have to admit, the program intrigued me. I told them that at this point there had to be a better way then what I was doing and was willing to try anything. Come to find out, (this) way was better. We have now been on the plan for almost two years now and have paid off over $50,000.00 in debt. I should also mention that we have not had to change our lifestyle either. Our personalized financial plan shows that we could be completely debt-free within 10 years, including our mortgage, and still be able to send our 2 children to college and retire without financial hardship. Thank you for being patient with a skeptic and providing the tools to obtain a debt-free future.
When I think of the long-term effects on those who read Becoming Your Own Banker, I see: Less divorce in our country. Most of the divorces have financial matters at their root. Less need for government interference in out lives. Obeying the principles will preclude the need for Social Security. Peace of mind. This will have an effect of life span and overall health. Control of your own destiny. The ability to serve others more effectively. This concept allows all these things to happen. I'm glad I was introduced to it many years ago and was able to play a part in its development.
Roland J. Nelson
PHARMACIST, BIRMINGHAM, AL
The concept offers a chance to accumulate much greater sums of money 'tax-free' than is possible with IRAs or 401(k) plans, without being forced to wait until age 59 ½ to use the money without penalties, or being forced to begin taxable withdrawals at 70 ½.
ENGINEER, AND A RECENT GRADUATE OF LAW SCHOOL AT WASHINGTON & LEE UNIVERSITY.
I wish I had learned about building my own private bank concepts earlier. Now I am in the 4th year of building my own bank. However, I was able to finance a car last year already if I wanted to. The system is amazingly simple to follow and it makes so much sense for real wealth building and preservation. It provides more than recovering the interests and cost of the car and any major purchases; it also provides many instant tax-favored benefits I did not have before. I am not only using the system for car purchase, I am also building my own bank for an emergency cash reserve, liquid cash for other investment opportunities, my retirement savings, etc. I wish I had started the system much earlier.