🌍 On World Mental Health Day today, it's crucial to highlight the connection between mental and financial health. Imagine a world where you’re spending with credit cards, just to shop for the essentials. Imagine a world where daily pay isn’t an option. Imagine an existence where you desperately wait for your next paycheck to schedule that painful, yet necessary root canal. This is likely the reality for nearly 70% of Americans who are currently financial unhealthy. Earlier this year we shared a brief on the deep connective tissue between financial and mental health. What better way to spend World Mental Health Day than reading about the parallels between #mental and #financial health. Read more here: https://hubs.li/Q02T09TP0 #WorldMentalHealthDay #MentalHealth #FinancialHealth
Financial Health Network
Non-profit Organizations
Chicago, Illinois 11,474 followers
Our mission is to improve financial health for all.
About us
The Financial Health Network is the leading authority on consumer financial health. We are a trusted resource for business leaders, policymakers and innovators united in a mission to improve the financial health of their customers, employees and communities. Through research, advisory services, measurement tools, and opportunities for cross-sector collaboration, we advance awareness, understanding and proven best practices in support of improved consumer financial health for all. For more on the Financial Health Network, go to www.finhealthnetwork.org and follow us on Twitter at @FinHealthNet.
- Website
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http://www.finhealthnetwork.org
External link for Financial Health Network
- Industry
- Non-profit Organizations
- Company size
- 51-200 employees
- Headquarters
- Chicago, Illinois
- Type
- Nonprofit
- Founded
- 2004
Locations
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Primary
135 S LaSalle St
30 N. LaSalle St.
Chicago, Illinois 60603, US
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50 Broad St
New York, New York 10004, US
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2300 N St NW
Washington, District of Columbia 20037, US
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575 Market St
San Francisco, California 94105, US
Employees at Financial Health Network
Updates
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For individuals facing an urgent financial challenge, innovative solutions can provide immediate relief. Join our sponsored #EMERGE webinar with MassMutual Foundation and experts Matthew Bahl, Rachel Schneider, Kelli Kreps, and Alison Mathias October 29 to: - Gain insight into how two different approaches fill key gaps in the financial assistance ecosystem by delivering rapid, secure, cash relief in times of need. - Learn how the impact of addressing smaller-dollar emergencies is often overlooked and how these efforts contribute to financial stability and overall well-being. - Discover how these solutions are transforming support systems and making a real immediate difference for individuals and families in critical situations. Register now: https://hubs.li/Q02SLzv50 #FinHealth
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Attending #FEII24 this week? Connect with Lisa Berdie and Andrew Warren on all things #finhealth onsite! The team spoke on a panel about the unique #financialhealth needs of the more than 40 million people living with a #disability in the U.S. alongside experts Hillary Jorgensen, J.D. Colorado Cross-Disability Coalition, Kim Knackstedt Unlock Access, LLC, and Mike Keglovits ColoradoABLE. Thank you to National Endowment for Financial Education for hosting #FinancialEducation Innovation and Impact Summit 2024 – an important event for advancing financial health. Revisit our past research on the financial lives of people living with disabilities here, and learn more about the event in the comments: https://lnkd.in/ef7DYQ3c Thank you to our report partners National Disability Institute and The Harkin Institute, and supporter Principal® Foundation on this crucial research. #equity #disabilityinclusion #disabilityadvocacy #disabilitycommunity Principal Financial Group
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After pivotal reforms in 2022, how are American households using overdraft? Our latest #FinHealthSpend brief surveys Americans about their use of #overdraft in the wake of significant regulatory changes – and ahead of a potential new rulemaking from the Consumer Financial Protection Bureau. Among many key findings, the research highlights that: - Total overdraft/non-sufficient funds fees are estimated to be $7.9 billion in 2023, a 19% decline from 2022 and a nearly 50% decline from 2019. - 31% of Black households and 24% of Latinx households were charged overdraft fees in 2023, compared with just 14% of white households. - Nearly four in 10 (39%) intentional overdrafters said they would not have made the purchase or paid the bill if overdraft were not available. Read the brief to understand the state of overdraft in America today and insights for banks, credit unions, and policymakers to support #financialhealth: https://hubs.li/Q02SFSfP0 #finhealth
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In a new article for Forbes, our President and CEO Jennifer Tescher asks: How can #fintech get its mojo back? Read on to learn Jennifer’s insights into the challenges facing the fintech industry, fintech’s #finhealth successes and opportunities, and a proposal on how fintech can reclaim its edge. https://lnkd.in/eDQamNM7
To my friends in #fintech for #finhealth – how are you navigating the market’s current headwinds? I shared my thoughts on the industry’s current challenges and potential remedies with Forbes. Especially now, with the #AI craze drawing attention away from the space, and high-profile failures shaking consumer trust in fintech, it’s clear we need to rethink our approach. In my article, I offer hope: Fintech can get its mojo back by returning to its roots. Twenty years ago, the promise of fintech was in improving people’s financial lives, and it did - but it didn't finish the job. Now is the time to recenter the industry around the needs of consumers. Read my article for deeper insights and add your two cents to the conversation: https://lnkd.in/gXdNWfA4 Financial Health Network
Reclaiming Fintech’s Edge Through A Return To Mission
social-www.forbes.com
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✨Registration Is Open for EMERGE Financial Health 2025✨ Registration is officially open for an EMERGE unlike any other. For the first time at EMERGE Financial Health, immerse yourself in the stories of real people across America – both those facing challenges and those working to solve them – as they share what it will take to achieve financial health for all. Reserve your spot today and save $500 with code EARLYBIRD when you register by October 31: https://hubs.li/Q02RRjDk0 #EMERGE #FinancialHealth #EMERGE2025 #FinHealth
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Financial health is a national priority and a global issue. At this week’s United Nations General Assembly #finhealth made top billing. In a side meeting with industry luminaries: • #UNSGSA H.M. Queen Máxima declared her office’s revised appointment from financial inclusion to financial health • Our Founder and CEO Jennifer Tescher spoke alongside Peter Jacobs, CEO of ING Nederland, James Mwangi, CEO of Equity Bank Limited; and moderator Julia Chatterley of CNN on the business case for #financialhealth as well as supporting policies and products • Office of the Comptroller of the Currency’s Michael J. Hsu spoke on the benefits of going beyond inclusion to put people first, and pointed to the OCC’s Vital Signs, encouraging #financialinstitutions to measure #finhealth • The World Bank, Mastercard, Bill & Melinda Gates Foundation, and others shared the importance of thinking beyond #access to more holistic #finhealth measures Congratulations to #UNSGSA H.M. Queen Máxima on 15 years of supporting #financialinclusion and #finhealth, and to all on this global milestone. Watch the recording: https://hubs.li/Q02RlQDz0 #UNGA #UNGA79 United Nations Secretary-General's Special Advocate for Inclusive Finance for Development
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High costs of essentials like housing, healthcare, child care, and education have made surviving – much less thriving – a challenge for many Americans. Between 1990 and 2019, the median family’s income grew 140% – but the cost of child care grew more than 200%, prescription drugs about 175%, and higher education almost 400%. These discrepancies, paired with increasing wealth inequality and enduring racial and gender disparities, have shrunk the ranks of the middle class for years, with dire economic and social consequences. Our latest brief from the Financial Health Frontiers initiative, supported by the Citi Foundation, breaks down this phenomenon – and what will need to be done to bring back widespread financial health to American families. Read the full report: https://hubs.li/Q02R3WBY0 #FinHealthFrontiers #FinHealth #MiddleClass #EconomicGrowth
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Nearly 55% of working-age adults are concerned about their #retirement security, yet many aren't saving enough. Inequities among workers earning low- to moderate-incomes and across race and gender continue to challenge #financialhealth later in life. This brief, supported by Dayforce as part of their WorkWell research series, aims to help #employers make a difference in the long-term private channel of their #workers. Approaches employers should consider include: - Expanding Access: Provide retirement plans to part-time and gig workers. - Emergency Savings: Workers with emergency savings are 70% more likely to contribute to retirement plans. - Alternative Plan Designs: MIT research shows alternative employer match and contribution schemes could reduce the racial wealth gap by 30%. - Equity and Profit-Sharing: Enhance retirement savings through equity ownership and profit-sharing. Led by Dayforce, WorkWell will feature research from Living Wage Institute, JUST Capital, and the Financial Health Network, equipping employers with insights to improve the financial health of workers. Learn more about how to support your employees' financial future: https://hubs.li/Q02QM1jY0 #RetirementSecurity #EmployeeBenefits #FinancialWellbeing #WorkplaceInnovation #FinancialHealth #FinHealth
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Read Now: Financial Health Pulse® 2024 U.S. Trends Report In 2023, American households weathered economic forces that pushed financial health indicators in opposite directions, depending on whether the indicator captured day-to-day financial concerns or future financial expectations. While these findings may seem contradictory, the seventh edition of our annual Financial Health Pulse® U.S. Trends Report finds evidence that some households were more acutely affected by the past year’s economic forces than others, depending on their #debts and assets held. Supported by Principal Foundation (Principal Financial Group), the 2024 #FinHealthPulse is a critical call to action for financial services providers, employers, policymakers, and readers about the customers and employees who may need special attention, particularly those struggling to repay debt. We urge you not to accept the numbers in this report as the default status quo. Instead, join us in refashioning that status quo into #financialhealth for all. https://hubs.li/Q02Q5Lj80 #finhealth