Financial well-being is closely related to the emotional well-being of workers and directly affects productivity and absenteeism. In this framework, an agreement has been reached between the financial application Ventonic s Afford Healtha consulting firm specializing in mental health at work, to promote the development of financial skills and competencies that improve the mental and social health of people in organizations.
In this context, the meeting will be held on October 20 The importance of financial management for emotional well-being In which Lubina Iturriaga, Co-Founder and Co-CEO of Fintonic, and Annabelle Fernández Forellino, Co-Founder and CEO of Affor Health, will participate in order to address the major effects that financial problems have on the emotional health of workers and in corporate activism.
“Stress caused by negative economic conditions affects six out of ten workers, according to international studies, and women are 33% more likely to suffer from it.” Very important data on the occurrence of significant financial stress in the work environment, in addition, it can increase at times Uncertainty like the present timeguarantee Lubina Iturria.
According to Affor Health, 60% of sick leave in Europe is caused by bouts of stress. “We are facing a silent, but highly destructive, enemy that is also costly because the economic consequences of neglecting the mental health of employees are intolerable to any company or society. To get an idea of the scale of the problem, in 2016 the International Labor Organization estimated the cost of labor depression in Europe at 641, 000 million euros annually.it states Annabelle Fernandez Fornino.
The agreement between the two companies will facilitate access to a personal finance program, designed by Fintonic to enhance financial education, for more than 400,000 active AfforHealth Employee Assistance (PAE) workers.
This personal finance program will provide a leading online training environment, interactive in nature, supported by experts who prefer understanding basic concepts, showing rules to follow and best management techniques, as well as tips for changing incorrect daily habits. This proven methodology allows you to better control the local economy, plan income and expenditures, manage debts, save and increase your income, among other aspects.
Impact of a lack of financial education on emotional well-being
Lack of training in financial matters translates into difficulties in saving and insecurity in the face of possible unforeseen events. The Fintonic study found that in Spain only 1 out of every citizen saves and the average saver keeps 7% of their salary for this purpose, well below the recommended 20%. In terms of future prospects, barely 5% of those under the age of 35 have a pension plan.
In addition, many analyzes confirm that financial education is the basis of financial well-being, and that this affects not only economic stability, but also emotional, family and social balance.
About Affor Health: At Affor Health, we have been innovating as mental health managers in organizations around the world for more than a decade. We are convinced that people are the essential piece, we have a positive impact on our environment by providing services that contribute to the promotion of their mental health and well-being in the professional and personal areas to improve their quality of life (Goal 3). We are the first Spanish B company specializing in the management of mental and social health at work.
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