Financial Wellness Behavior Change Data: a 12-month Study
Most people agree that financial wellness education is beneficial, but there haven’t been many studies that look at the data regarding whether these programs have a real-world impact.
Educating people is only half the battle. For a financial wellness program to be effective, it must inform people in a way that motivates them to change their behavior over a long period of time.
Many large employers, financial institutions, colleges, and government agencies use our Enrich Financial Wellness program, so we looked at our data to see what impact our interactive financial education had on things like:
- Emergency savings
- Retirement participation
- Financial stress levels
- Credit card usage
- Credit scores
- Checking account overdrafts
- Scheduling financial advisor consultations
- Staying on track with financial goals
This document shows the results of this 12-month longitudinal study, including statistics taken from our platform and cross-referenced with financial account data from our partners.