What is Financial Wellbeing
Financial wellbeing is a type of corporate social responsibility. It encourages all organisations to help their employees and customers be more financially secure. This is helping in areas like workplace guidance, pension funding and treating debtors fairly.
The FairLife Mark needs this support to deliver outomes the public expect. Financial education in schools, colleges and universities will be leveraged temendously if organisations continue to offer generic guidance as part of their employee wellbeing measures. FairLife debt advice and debt recovery firms will be able to treat those struggling with debt more fairly if creditors also support the initaitive. And sound pension products are of little use if the pensions themselves are not adequately funded (a task made all the more difficult if people don't value the contributions their employers make ... financail education).
The charity’s three areas of focus are complimentary. Each on its own is much less effective. It’s about building knowledge and trust; knowledge to know what you need and trust in the products you rely on. If every organisation plays their part we can build a brighter financial future for us all.
The FairLife Mark is on your side