Financial Wellness - Your Financial Situation Affects You Physically | 6

Felicia Harris, CEO of EverythingHR and EverythingHR Financial Services, discusses financial wellness for both business owners and employees. For employers, she explains the ins and outs of financial stress and urges staying balanced and healthy. For employees, she also stresses maintaining a healthy lifestyle and explains a variety of available resources to help with financial stress.

• Many businesses fail in their first few years of business. This is often because of poor financial planning.
• Harris gives a brief overview of financial landscape terminology, including expansion, contraction, recession, and the recovery phase.
• The “stress test” for financial planning
• Why you should develop a financial plan and a relationship with your bank
• How to set the culture for wellness
  • Take breaks, offer healthy snacks to keep energy levels up
  • Make sure to take care of yourself personally.
• Small business owners are more likely to hold onto employees during economic downturns
• Responsibility of employees to manage their own finances, but employers can provide a financial wellness program and tax advice.
• Employers should also focus on their health and find balance.

Resources:

• Financial Planning Association - fpa.org
• Score - Free Small Business Advice
• Veteran’s Business Outreach Centers - around the nation
• Small Business Development Centers - around the nation

EverythingHR -  Twitter, LinkedIn

www.EverythingHRFS.net