Financial Awareness Day
How is your organisation doing?
Today is Financial Awareness Day.
It’s a good day for employers to reflect on the question:
"Which areas of financial wellbeing are we providing effective support… and where could we do more?"
We can use the Money and Pensions Service definition of financial wellbeing to frame a response.
The Money and Pensions Service (MaPS) defines financial wellbeing using four clear components:
🔐 Feeling secure and in control
🗓️ Making the most of your money from day to day
⚡ Dealing with the unexpected
🔮 Being on track for a healthy financial future
It’s a simple but powerful framework, and one that employers can use to shape their financial wellbeing strategy. Here’s what each area could look like in practice:
1. Feeling secure and in control
When employees feel financially secure, they’re less distracted by money worries, more focused on their work, and more likely to stay with the organisation.
Employers could offer: clear pay structures, early wage access schemes, financial education workshops, signposting to free, confidential debt advice, trained Money First Aiders.
2. Making the most of your money from day to day
When employees can stretch their money further, they experience less pressure to look for higher-paying roles, enjoy a better work-life balance, and benefit from improved overall wellbeing: all of which help employers boost retention and lower recruitment costs.
Employers could offer: employee discount schemes, travel cost subsidies, workplace canteens with affordable meals, and tools to help budget effectively.
3. Dealing with the unexpected
Life happens. An unexpected bill or emergency can cause huge stress, financial crisis, and upheaval. For employees, this can mean sleepless nights, difficulty focusing, and even the need to take time off work. For employers, it can lead to dips in productivity, increased absence, and disengagement if people feel unsupported.
Employers could offer: trained Money First Aiders, hardship funds, emergency loan options, insurance benefits (e.g. income protection), and guidance on how to access external support quickly.
4. Being on track for a healthy financial future
Think beyond the here and now. Ensure your employees feel hopeful, excited and more in control of their financial future.
Employers could offer: pension contributions above the minimum, access to financial planning advice, savings schemes via payroll, career development opportunities that lead to higher earning potential, pension education sessions, our Financial Foundations course for apprentices, graduates and new joiners.
How is your organisation doing in each of these areas? What do you want to celebrate with your teams? Where do you want to raise awareness of what’s already on offer? What gaps do you want to fill?
Financial wellbeing isn’t just an employee benefit, it’s a resilience tool for your business. Teams that feel financially well are more focused, engaged, and likely to stay.
This Financial Awareness Day, ask yourself: Which areas are we supporting well… and where could we do more?
Get in touch if you want to know how our training courses can boost your financial wellbeing offering.
