Financial well-being is an aspect of employee wellness that is often overlooked. But it’s essential that you feel healthy financially, just as you should feel healthy physically.

What does financial well-being mean?

It can include:

  • Minimal feelings of financial stress
  • A strong financial foundation (little or no debt, emergency savings and living below their means)
  • A plan to follow to meet future financial goalsAnd it can all benefit employees and employer alike.

From an employee perspective, financial well-being can mean being worried less, which means less stress. All of which can result in fewer illnesses, increased productivity, higher satisfaction and more engagement in your work.

Employers stand to benefit, too, with likely decreased turnover, lower healthcare costs and decreased absenteeism.

Makes cents, er, sense, right?

By focusing on changing your financial habits and behaviors, better decisions and stronger financial plans can be forged. Finances are a sensitive subject, so that’s why it’s helpful to bring in a third-party expert.

Financial well-being—like physical well-being—is not simply one event. In the end, it’s important to remember that overall wellness includes this financial aspect. When you’re constantly stressed about managing your money, you aren’t going to work as healthy as you should.

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FISCAL FITNESS: 6/11/2020

Being fiscally fit means having peace of mind that you are in charge of your finances. It means that you can enjoy life without the additional stress of money because you have a plan and are managing the situation (instead of it managing you).

Five fundamentals of fiscal fitness (ACP)

10 habits of fiscally fit people (Nerd Wallet)

Teaching your kids about fiscal fitness (Sesame Street)

Did you know that you can save money towards retirement monthly (pre-tax or after-tax) via your paycheck? 

  • Saving as little as $25.00 a month now could make a big difference in your (retirement) future.
  • Voluntary savings plans are an employee benefit you can take advantage of to “bridge the retirement income gap”:

UNTS Voluntary 403(b) Retirement Savings Plan Available:

The UNT System offers University of North Texas, University of North Texas Health Science Center, University of North Texas at Dallas and University of North Texas System Administration employees the opportunity to save for retirement by participating in the UNTS Voluntary 403(b) Plan.

You can participate in this plan by making pre-tax contributions. You are eligible to participate in this plan, whether or not you are actively contributing to it.

Not yet contributing to the 403(b) Plan?

  • To start your contributions to the 403b plan, register online. Once registered, log in to your UNTS Voluntary 403(b) Plan.
    • Choose your Plan Vendor(s).
      • Once you have logged on to your account, you can choose which vendor(s) to direct your TSA contributions. You must also make investment elections with your chosen vendor(s).

Already contributing the 403(b) Plan?

If you are currently contributing to the 403(b) Plan, you may be able to increase your pre-tax contributions. You may also decrease or stop contributions by logging in to your account. When logged in to your plan via www.netbenefits.com/unts:

  • Click on “View Summary” next to your balance
    • In the “Contributions” box, click “Show More” and then “Change Contributions”
      • Click “Contributions Amount”
        • Update to the desired amount (this is a monthly amount)
          • Click “Change”
  • 403b TSA and ORP Vendor Contact Information: