Page 32 - A Guide To Financial Health v2

Chapter 04: Progress starts with savings

But as numerous data points tell us, saving is easier said than done.

People need more than just an instrument to save. They need solutions that

enable and maximize savings, while simultaneously addressing the reasons

saving is so difficult—as well as the reasons savings accounts get plundered

in the first place.

A product and/or service will be successful if it helps employees save money

more successfully than they would on their own. First, people need to get on

stable ground with a healthy and inexpensive solution to cash flow problems.

Then they need features to help them keep track of bills, and spend within

their means—which means avoiding lost wages due to penalties and fees.

Opportunities to increase positive cash flow: a point at which income

exceeds expenses, allowing savings to grow to the point where they can

absorb a cash flow problem without being decimated. Over time, savings

balances continue to grow, which is an integral part of making progress

towards financial health.