The Impact of Financial Illiteracy

 

With all of these concerns, the personal financial stress facing our workforce is at an all-time high and will only continue to increase if we donít proactively do something differently.†† Left unaddressed the impact facing employees and organizations are significant:

 

® A loss in production and team morale

 

® An increased of employee absenteeism, tardiness

 

® Reduced ability to focus on a task or on the safety for themselves or others

 

® An increase of stress related health issues

 

® Lower employee morale

 

® Lower pay satisfaction and higher turnover

 

® Accidents

 

® Theft

 

® Substance abuse

 

® Loss of customers

 

® Administrative costs

 

 

 

 

 

 

 

 

 

 

One in five adults worries about debt most or all of the time."
--AP-GfK Poll, July 2011

Fewer than half (41%) of Americans surveyed

reported spending less than their

income.

FINRA Foundationís

2012 State by State Financial Capability Survey

 

Over a quarter (26%) reported having unpaid medical bills.

More than half (56%) do not have rainy day savings to cover three months of unanticipated

financial

emergencies.

FINRA Foundationís

2012 State by State Financial Capability Survey

 

Financial Education in the Workplace

Governorís Council on Financial Literacy

Workplace Financial Literacy Workgroup

WI Department of Financial Institutions

Office of Financial Literacy

201 W. Washington Ave., Ste. 300 (53703)

PO Box 7847

Madison WI 53707-7847

(608) 261-9540

www.wdfi.org