Employee Financial Wellness Benefits: What You Need to Know

I still remember sitting in my first-ever benefits seminar, heart racing as I clutched a huge packet of paperwork that weighed more than my college textbooks.

Fresh out of university and still guessing my way through grocery spending, I stared at the polished slides while the presenter (sharp suit, bored voice) ran through all the details of retirement plans, insurance policies, and disability coverage. 

Forty-five years of financial planning ahead, when I hadn’t even figured out next week? Overwhelmed didn’t begin to cover it.

That’s the reality for so many employees today—a standard employee benefits package includes retirement and health insurance but doesn’t address the immediate, everyday challenges of personal finances, like planning day-to-day spending or paying down debt. That gap creates stress and financial issues that spill into the workplace.

And that’s why financial wellness benefits have become so important. They’re no longer a “nice-to-have.” They’re an essential part of the package. When employees feel financially secure, they’re less stressed, more focused, more creative, and far more likely to stay and grow with the company. 

Let’s explore what financial wellness benefits are, why they matter, and how YNAB’s Financial Wellness Program is helping employees achieve real peace of mind.

What are financial wellness benefits?

Financial wellness benefits are programs and resources designed to help employees improve their financial health and reduce money-related stress.

These employee benefits often include tools for budgeting, spending management, emergency saving, and debt reduction, along with financial education resources that build financial literacy. The goal? Empower employees to feel confident and in control of their money.

I was losing sleep, and somehow the daily commute to the office felt even worse because I knew every month, no matter what I did, I was still digging myself a financial hole. Then, YNAB came into our lives like a breath of fresh air. Now, our arguments about money have magically evaporated. My commute? A breeze. I feel like I’m making progress every day, and I can connect doing a good job at work with a potential raise in the future and even more freedom.
—Jonathan, Technical Illustrator

These programs have gained traction as part of comprehensive benefits packages because financial stress has become one of the leading causes of employee distraction and turnover.

In fact, financially stressed employees are five times more likely to be distracted at work and twice as likely to be job hunting. During the pandemic, 63% of the general US workforce reported increased financial stress, compared to only 24% of employees using YNAB.

Employee financial wellness benefits can include:

• Budgeting tools or spending apps to help employees manage everyday expenses and avoid high-interest credit card debt.
• Retirement planning resources to prepare for the future.
• Student loan assistance programs that lighten a heavy burden for many workers.
• Health Savings Accounts (HSAs) to help manage rising healthcare costs.
• Employee Assistance Programs (EAPs) for financial counseling during crises.
• Custom financial education workshops to help your employees make more of their paychecks.

The most effective programs, though, don’t stop at tools—they also provide education and practical guidance. Because employee financial health isn’t just about having the resources; it’s about knowing how to use them well.

The employer’s investment in financial wellness programs

Money stress doesn’t clock out when employees clock in. It follows them into meetings, projects, and performance reviews. Research links financial stress to decreased productivity, higher absenteeism, and increased turnover—issues that cost companies millions each year.

By offering financial wellness programs, employers can:

• Reduce employee stress and improve mental health.
• Increase employee retention and attract top talent in a competitive job market.
• Boost productivity by eliminating one of the biggest workplace distractions: money worries.

If you’re reading this, you’re the kind of HR manager or business owner who wants the best for your employees, inside and outside of work. You care about their whole health not just as your employee, but as a person. And the connection between financial health and overall well-being is undeniable.

When employees feel confident about their finances, they sleep better, experience less anxiety, and bring more focus and energy to their workday.

The impact on employees

What difference can a financial wellness program actually make? A huge one.

Employees who have access to these benefits report:

• Lower stress levels and improved mental health.
• Greater confidence in their financial decisions and progress toward financial goals.
• Greater financial stability making lifeline impacts.
• Better overall well-being, from improved relationships to better sleep.

These programs help with debt management, saving, and planning for the future—reducing stress at its core. These are the kind of results that free up your people to do their best work! They’ll spend less time distracted by money woes and more time working as a team, coming up with creative solutions, and actually enjoying walking through the office door every day.

And when it comes to YNAB’s Wellness Program the proof is in the pudding. In a six-month study of program participants:

• 92% said YNAB improved their financial management skills and overall financial well-being.
• 69% reported that YNAB slightly to greatly improved their personal well-being.
  

These aren’t just numbers—they represent peace of mind, stronger financial habits, and employees who can fully show up for work and life.

The business case for financial wellness

Some people think it’s awkward to talk about the bottom line. But we love it. We talk about it every day! The truth is, dollars matter.

If the human impact isn’t convincing enough, let’s talk about what it could mean for your business. Financially stressed employees cost companies money. Lost productivity, increased sick days, pay advance requests, and higher turnover all add up.

Adding financial wellness benefits can:

• Reduce absenteeism and turnover costs.
• Improve retention and employee engagement.
• Lower the frequency of financial crises and emergency pay advance requests.

Did you know that only 2% of YNAB users requested a payday loan or payday advance in 2022 compared to 58% of general US workers?
—YNAB Employee Wellness Survey

A successful financial wellness program is a win for everyone, unless you really love turnover paperwork. Simply put, when employees thrive financially, businesses thrive too.

How YNAB supports employee financial wellness

There’s a reason why brands like Todoist, The Skimm, and Help Scout are adopting YNAB as an absolute must for their employees. It’s the anti-budget: a way for employees to dream way bigger than their day to day spending and plan for the future they want, with the dollars they earn. 

More than another money app, YNAB is a proven method that helps employees align their spending with who they are so they can make the most of their paychecks! We help employees gain clarity and confidence about their spending so they can plan ahead, save for the future, and live with less stress.

Our approach doesn’t ask your employees to follow rigid rules or do a one-and-done challenge that doesn’t stick. We focus on building habits that turn money from a source of anxiety into a source of possibility, so every dollar has a job and every decision feels clear.

We call this state spendfulness—the alignment between how you spend your money and the life you want to live. And with YNAB’s Wellness Program, employees experience the magic of spendfulness daily, transforming financial health into overall well-being.

For more on how to start living spendfully, check out the YNAB Get Started Guide.

Financial wellness benefits, like YNAB’s offering, are essential to a healthy, productive workplace. They reduce stress, improve retention, and create happier, more focused employees. And when you choose YNAB, you’re giving your team more than a tool—you’re giving them a proven method for living spendfully and confidently.

‍Ready to bring financial wellness to your workplace? Explore YNAB’s Wellness Program and help your team thrive at work and in life.