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A study released by SHRM and Fiserv (formerly First Data) shares some alarming—if not surprising—information about workers’ financial literacy.  Only 15% are very confident about their ability to manage their money.  82% find it difficult to make money decisions.  And less than one-in-five feel comfortable taking risks with their money.

This is not an unfortunate byproduct of our financial system, it’s a design feature.  Mortgages, credit cards, bank loans, payday loans, car loans, and even student loans can be confusing.  Lenders are counting on people not understanding the consequences of their choices so that it is easier to get caught in endless debt cycles.

Many employers are leaning into FinTech solutions to help the unbanked and underbanked have easier access to their money.  While this can be a nice benefit, what employees really need is someone to help guide their solutions based on their personal circumstances.  They need cheaper access to debt to escape the high-cost debt loops.  And they need a human being to actually help them with the tasks required to make progress.

Why?  Because trying to figure out how a credit card bill, mortgage, or a payday loan works is no easy task.  Most Americans do not understand interest rates, amortization, or negative leverage.  And that is just how banks want it.

Employers can open new pathways to financial progress and provide the human assistance that makes achievement accessible to everyone.  We can help.