After dipping earlier this year, employees’ financial wellness has nearly returned to the level recorded at year-end 2011, according to a new report.
Financial Finesse Inc. published this finding in a November research report on financial trends. The company’s financial wellness assessment, designed by certified financial planners, is a proprietary tool that measures employees’ financial wellness based on different financial criteria.
Financial Finesse recorded a financial wellness score of 5.3 in the third quarter of 2012, nearly matching the 5.4 score posted in the fourth quarter of 2011, the report discloses.
Nearly three quarters of the survey respondents (74 percent) report they are managing their cash flow well, up from 71 percent last quarter. More than six in 10 (61 percent) say they have an emergency fund, up from 51 percent last quarter.
Additionally, 89 percent report paying bills on time, up from 87 percent last quarter. And nearly seven in 10 (69 percent) say they regularly pay off their credit card balances in full, up from 57 percent in the second quarter.