• Help employees improve financial health with information such as the basics of creating a budget, cutting back on spending, and planning for retirement.

Financial worries can strain employee health. Concerns about debt or foreclosure, uncertainty about how to budget properly, and worries about the future can distract employees and keep them from doing a good job.

Budgeting: Creating a budget involves writing down sources of income and deciding where that money will go.

• Encourage employees to use a spending tracker to track how much is spent on things such as eating out, rent or mortgage payments, groceries, and pets. This will provide ideas for places to trim spending.

Savings ideas: To keep a budget in line, employees can:

• Take the free entertainment challenge. Brainstorm with family members to find fun, free events and activities. Options might include tennis at a local park, a bike ride around town, a trip to the local library, or concerts in the park.
• Pay attention to streaming services. Online streaming and cable expenses can add up. Cancel services that aren’t used.
• Map out meals. Plan a week of meals to enjoy at home rather than grabbing dinner at a fast-food restaurant.

These tips can also help employees reduce financial strain:

• Involve the family. Write down ideas for reducing expenses.
• Leave debit and credit cards at home. Avoid impulse buys by bringing only a budgeted amount of cash.
• Ask for help. Talk to credit card or utility companies about payment plans. Look into financial education programs.

Activities that improve financial health:

• Have a representative from the company 401(k) provider do a lunch and learn session on retirement savings.
• Give employees an opportunity for a one-on-one meeting with a 401(k) provider representative to more effectively address each financial situation.
• Bring in a representative from a local financial institution to talk about savings options, how to wisely use a credit card, create a spending tracker, or answer questions about debt reduction.