While employee benefits are clearly important for financial health, they are the job quality dimension rated lowest among low-income workers. In order to improve employee financial health, employers should invest in benefits that support worker financial well-being.

Lori Shao founded Finli, one of the Financial Solutions Lab Accelerator’s 2020 Cohort companies, in 2019. Finli’s comprehensive business management software relieves family-centric businesses, like neighborhood schools and enrichment programs, from the administrative burdens of invoicing, tuition collection, and maintaining a digital presence by providing an enterprise solution and parent-approved app. Given its area of […]

The economic shutdown and mandatory lockdowns forced many people to limit discretionary spending on retail, food, and entertainment, while stimulus checks and increased unemployment benefits improved financial health in the short term. This aided in a slow down of overdraft.

There is a strong relationship between job quality and workers’ financial health. Employers have the opportunity to use investment in job quality as a way to improve financial health equity among workers.

During a pandemic, unexpected expenses or unplanned loss of income can have a devastating impact on a household’s day-to-day financial management. Employers have an opportunity to steward their resources more effectively into responsive and informed investments to aid employees’ long-term financial health.

Over the past six years, the Financial Solutions Lab has run an annual fintech accelerator that has supported more than 40 companies with investments, resources, mentorship, and more to improve the financial health of people across the U.S. These companies have reached more than 5 million low- to moderate-income consumers – and over 10 million […]

“It was the best of times, it was the worst of times.” The opening lines of Charles Dickens’ iconic novel A Tale of Two Cities perfectly capture the paradoxical nature of this moment in time. Since March, the news has often featured contradictory narratives about the impact of the ongoing pandemic on people’s financial lives….

There are more than 44,000 federal, state, and local restrictions that block access to public benefits, employment opportunities, and other crucial services that returning citizens need to establish stability and build their financial health.

Today, many digital-only banking startups are focused on offering financial health-centric services. A shift toward advancing consumer financial health would be a positive for everyone.

There is no shortage of macro-level data showing that employees across the country, and in every industry, are struggling financially. As organizations think about assessing and improving the financial health of their workforces, here are some best practices to keep in mind.

Our new report, “Race, Ethnicity, and the Financial Lives of Young Adults,” sheds light on the different financial challenges faced by young adults, especially Black and Latinx young adults.

It’s critical that small businesses — especially those in underserved communities — get support from government and philanthropies to rebuild, and that owners also receive personal financial health support so they can build resilience over time and weather future financial shocks.