Young employees are not irresponsible. They know they must pay their bills and live within their means. Unfortunately, the real-world hits them with a major challenge that affects their overall financial wellness. It is college debt.
Skills Are Acquired at a Cost
Young employees are social media savvy and have technical skills to boost an organization’s productivity. The achieved expertise comes at a price. Many college students go into major debt to finance their education. The final total may be in the six figures and can take years to finally pay off.
The paycheck is there but too many college graduates do not understand personal budgeting. Attempting to be responsible, a new employee might send a large payment to the college creditor and this might cause issues with other bills.
Financial Wellness Is Attacked
The money can run out before the end of the month and a person will panic. He or she might pay groceries or utility bills with a credit card. It only adds to what may be a large outstanding balance. Individuals may ignore a bill which then incurs a penalty and affects the person’s credit. It does not take long before financial wellness spirals out of control. Employers must recognize the importance of helping that recent college graduate. It will affect the organization more than just having to process wage garnishments. Employees distracted by money problems will not concentrate on performance. Countrywide Pre-Paid Legal Services can help an employee deal with college debt and their finances.
Provide the Best Help
We are more than FAQ website. Our financial wellness support is provided by certified counselors who can provide advice and face-to-face meetings. The counselors provide the following services, depending on the plan:
*Personal Budget Analysis. This includes helping an employee create a workable personal budget that considers college debt obligations and other monthly bills.
*College Loan Advice. These programs reduce the interest rates or amounts of payments. No plan member is forced to rely on forbearance.
*Help with Financial Plans. Creditors may require a financial plan to be submitted to justify lowering the college debt interest rates or the amounts. Our counselors can help develop a financial plan of action that makes sense and help a plan member get a break on the college debt bill.
Our service takes the mystery out of finances and will guide a person on ways to meet college debt without taking drastic action. Our help also clears up problems in other financial areas.
Clients Design Their Plan
Organizations with a young workforce can create a financial wellness plan to serve that demographic. Countrywide allows clients to pick those services they want. An organization might select advice on college loans and pass on medical bills assistance. That is fine with us.
We want to provide a plan which gives maximum benefit to its members. We insist on excellent member service, and our counselors provide prompt service to any plan member. No one waits a long time to get needed help.
Young employees feel empowered when they have control of their finances. These tech wizards become more positive and develop a proactive attitude towards life. They also become more productive because the outside financial woes no longer wear them down. Employers notice this attitude change and the morale boost. These are reasons why so many organizations turn to Countrywide for superior benefits. We put the client and the client’s workforce first in all we do.
A financial wellness plan is a means of relieving a lot of anxiety. It is possible you may have some questions about our benefits, and we want to respond to those inquiries. We invite you to contact us at your earliest convenience. We want to be able to tell the Countrywide story and its commitment to service and would welcome the opportunity.