Wellbeing (Financial) & Behavioral Economics
By: Brent Stackhouse, MBA
Consultancy Firm Manager
AB, International Relations, William & Mary
MBA, Management, Troy University
The Stackhouse Agency, LLC
April 2, 2016
Organizations may provide resources to assist contributors/employees in attaining a greater level of financial wellbeing. While some individuals are contributors to organizational objectives and receive compensation without employee benefits - others are full-time or regular employees with many additional opportunities to increase financial wellbeing. Awareness of financial tools increases financial wellbeing for many individuals. Opt-out options make participation in certain financial programs easier than some individuals would have previously imagined without having to take steps for signing up or opting in. Financial program choices assist some contributors/employees in finding greater financial security or direction over their finances up to a certain point. However, complexity in having to make many decisions may act as a deterrent for some, as clarity in reaching a financial goal is reduced. Additionally, financial wellbeing is about having a level of security, contentment, and aspiration. Personal financial goals are critical, yet financial wellbeing often includes a level of charitable awareness, charitable participation, and a sense of societal contribution.
All Rights Reserved.
Representation of specific organizations is not implied.